My $1k to $100k Challenge - Day 21 Trade #31 - SKYHello all and thanks for stopping by and following my personal challenge. I am attempting to turn $1000 into $100,000 by the end of the year by day trading altcoins.
I started my challenge on July 14th with a bankroll of 0.16 Bitcoin that was valued at $1000 at the time. You can follow and see all my trades in my profile.
I am changing my strategy a bit, I will be using 2 to 1 (profit/loss) risk vs reward. My sell targets will still be 5% but my stop loss will be -2 1/2%.
I will also be using 3commas trading bot and using profit trailing starting at 3%. What this means is once an active trade hits 3% profit, the profit trail will kick in. If the price drops -0.5%, autosell will occur for roughly 2 1/2% profit.
This will be another learning experience for me as I am new using 3commas. I hope I don't make any costly mistakes.
Looking back at my losing trades, many trades hit 3% profit or more, then dropped down to hit my stop loss. This new strategy should prevent this problem and turn in more wins.
These last few weeks have been fun. I have won some trades and lost some trades. Learning from my failures will help bring me success.
After 20 days and 30 completed trades:
Wins: 14
Loss: 16
Balance: 0.16178344 B
USD: $ 1198
*Some trades may be pending and not yet included in my stats
There are too many trades to list. All my trades and stats for this challenge can be found in the link on my profile if you want to follow.
CAUTION: This challenge represents a small portion of my overall portfolio. To maximize the potential of reaching my 100k challenge goal quickly with just 1k, I am using most of my challenge bankroll per trade trying to build up my bankroll for the challenge.
If you are following me, I do not recommend this strategy, but instead you should limit your trades to max 3-5% of your portfolio per trade. Please trade smart.
Alright, here we go with Day 21 trade #31
I invested 0.161346 B into SKY. I bought 279.90 for an average cost of @ 57600 satoshi
Sell target is: 60500 for 5.03% profit
Stop loss: 56100 (-2 1/2%)
SKY is a Base play from my Discord group. Decent volume over the last few hours and the RSI and MACD are showing momentum building.
In case you are wondering why my buy price sometimes doesn't match the current price on the chart when I make a new post, this is because I post my coin selection to my Discord group first and then make a new trade idea here which takes about 30 minutes to complete this all.
I am 100% transparent. I show screenshots of my buy price and amount on my Discord group. This has been a fun experiment and I enjoy sharing my journey.
Your comments, agrees and disagrees are always welcome and appreciated.
Thanks for stopping by and have a great day!
SKY
!!easy 35% in max 10 days, SkyBTC!!easy 35% in max 10 days
open long SkyBTC at 0.000829
SKY BINANCE:SKYBTC
Skycoin potential 100-350% profits! (RISKY)Skycoin was hit with some bad news within it's own management and production. There was a rumour being spread that they were manipulating the price in order for devs to sell off skycoin and become rich.
However, we all know that a lot of people don't do research on coins before investing as long as they know the price is going on.
This is a risky trade but has potential for a LOT of profits. Could even see the price going up 6x-10x if the dev team actually get their shit together.
Chart describes itself. Accumulate in the zone, wait for a breakout of 1200 satoshis, sell at each target.
RISK ARB OPPORTUNITY: SKY BUYOUT There's been another big deal developing ($29-30B) so I figured I'd post another arbitrage, in this case, 'risk arb' or Merger Arbitrage.
Fox needs to raise its offer of 10.75 pounds per share for the 61 percent of the British pay-TV company it doesn’t already own, in order to challenge Comcast’s 12.50 pounds per share bid. Comcast, which already won U.K. approval for its Sky approach, has a deadline of Friday to put the 22 billion pound ($29 billion) proposal to Sky shareholders under U.K. takeover rules....The tussle over Sky is part of a wider bidding contest between Comcast and Walt Disney Co. for the bulk of Rupert Murdoch’s media empire, as each tries to scale up to take on streaming competitors Netflix Inc. and Amazon.com
faculty.chicagobooth.edu
www.newyorkfed.org
Although it's formally an arbitrage strategy, purists would argue that it's not a pure arbitrage as it incorporates speculative aspects and is not as riskless as other strategies such as convertible arbitrage which fully hedges deltas:
The main basis in a stock-for-stock acquisition revolves around the idea that the target's stock will often trade at a lower market price compared to the exchange ratio that will apply once the deal is closed. Traders will purchase the target's stock and receive an excess value of the acquirer's stock when the deal is closed.
To hedge risk, traders will short the same number of the acquirer's shares based on the exchange ratio.
The objective is to capture the spread between the target's share price at market and the closing price based on the exchange ratio set by the acquirer. Spreads can be between 5-10% (median) for deals that close upwards of 55 days.
Unlike other arbitrages, risk arbs can be done quite easily, but like all other strategies, can also become more efficient and complex if done professionally.
Risk arb funds can also be good diversification for a portfolio as they often generate superior risk adjusted returns in poor markets.
www.bloomberg.com
$SKY SkyCoin: Retrace/recovery in progressSkycoin fell way too low after it's trouble with the theft/kidnapping of CEO drama (will post more on this story if requested, lol), but it appears -- based on action over the past 72 hours -- to be making a corrective move back into normal ranges. I've set this up as a general roadmap/guideline for stair steps, but it will need updating once more data can be added to the model. Will update when significant movement occurs one way or the other, but i expect this to be pushing that next barrier by EOD.
Skycoin accumulationBTC showing signs of reversal and Skycoin looks like it is being accumulated based on Wyckoff. If BTC does a full reversal SKY has a lot of potential because it just had a major sell off losing close to 80% of its value from the top
Sky to the SkyLooking for a pullback to green buy zone
Reasoning:
1. Bearish on smaller time frames
2. Long wicks forming
3. Rsi touching oversold
Reasons for bounce:
1. Ema's will act as support
2. .5 and .618 fib zone as support (not shown to reduce clutter)
More reasons for bearish indicate a pullback. Once price pulls back we re-analyze to confirm uptrend
Stop loss will be determined once pull back occurs or if it does.
Continue the dumpBear flag on SKY. Stolen coins are probably still getting dumped.
I am waiting for a good entry to buy back, Skycoin has everything to see TRX or XVG like pumps during the next bull run
pbs.twimg.com
SKY is soaring to new heightsSKY LSE:SKY gapped up significantly last week.
Previously this stock was just travelling sideways and was hovering around the £10 figure, then unexpectedly price
jumped up which may be down to a news announcement.
As technical traders we believe that the news is factored into price and regardless of what caused the gap, we have to figure
out how to trade this move.
After a gap up we don't want to jump hastily into a trade, we want the market to confirm what the next move will be.
Often times we see the gap get filled so the best option is to wait for the market to pull back and await a breakout of the high.
Price appears to be pulling back now and if price does not go lower and instead decides to break above the resistance level drawn
then we can start to look for buying opportunities.
At the moment price is above the 50 & 200 moving averages and there is still potential for growth.
This is one to keep on the watchlist and if a breakout occurs then we will be ready to take a trade.
Any questions or comments, do not hesitate to leave them below.
Sublime Trading
Metaverse - Sky Is Not The LimitMetaverse is one of the newer coins that holds great potential. Currently, it can be traded on Bitfinex, RightBTC, HitBtc and few other exchanges but potentially could be adopted by most major exchanges in the nearest future.
The price remains very cheap in relation to the "starting price", which is $2.5 for 1 Metaverse coin. ETP/USD has been ranging between $2 and $6 for the past 4 months, but as of lately it showing the potential for the rise.
Metaverse broke above the descending channel, going up to $6.2. On a corrective wave down price went down and was stopped at 61.8% Fibonacci retracement level and the 4/1 Gann Fan trendline, both of which have been rejected. Then price broke above the downtrend trendline and yet again corrected back to 61.8% Fibs at $2.4.
It seems like a very interesting timing for Metaverse as it could be the starting point for a long-term uptrend. The very first upside target is seen at $12-13 area. If it manages to break above, much bigger growth potential should present itself. On a downside, break and close $1 support could invalidate bullish outlook.
Will 21st Century Fox make a bid for Sky PLC?The share price of Sky PLC spiked as much as 30% earlier today as news broke out about a potential takeover from 21st Century Fox. Fox already holds 39% of Sky PLCs shares and a preliminary deal has now been reached for Fox to purchase the remaining stake at £10.75 per share. Sky currently operates in five different countries within the EU and with the current weakness of the pound, UK companies are attractive for foreign companies. If this deal successfully goes through, it will greatly increase Fox’s market share of the Global Television industry. Rupert Murdoch, executing co-chairman of 21st Century Fox has made it clear previously that he would like to own all of Sky. Fox have until 6th January 2017 to make their intentions clear or walk away for six months due to the UK Takeover rules. From the chart, we can see that Sky PLCs share price shot up towards the trendline before retracing to close just below it. Over the next month, we would expect to see some retracement until Fox make their intentions clear or make a formal offer. If no deal is made or the shareholders of Sky reject the proposed offer, the share price of Sky would be expected to fall back towards £7.90. If a deal is successful, price could head in excess of £12.00 depending on Fox’s plans with Sky PLC.
