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How I turned $7K into ~$25K in the past 3 weeks and my journey to $500K

Discussion in 'CryptoCurrency' started by crypto-trader, May 7, 2017.

  1. crypto-trader

    crypto-trader Newbie

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    I've been trading cryptocurrencies for almost 4 years. I like to do both short and long term trading and I want to start a journey to reach $500K from $65K. I hope to achieve this in maximum 12 months.

    First I will tell you how I turned $7K into close to $25K in the last 3 weeks, and in the following posts I will share my trades as I make them.

    At the beginning of April I had 98% of my money in bitcoin, because I took a short break from altcoin trading previously. The price was in a slight uptrend and the charts looked promising. Knowing that if btc rises, most altcoins will eventually follow, I decided to take $7K and split it among several altcoins.

    How I picked the coins:
    - First I charted some of the promising coins both against btc and usd. If both charts had the same upward trend, I only had to find an optimal entry point.
    - Then I entered each position successively depending on the market. The entry was mostly triggered by indicators, but any person could have invested in these coins and turn a profit, regardless.

    The winning coins:

    - Ethereum Classic (ETC) bought at $2.68 and sold recently at $6.93
    - Litecoin (LTC) bought at a little over $10 and sold recently at $29

    I bought other coins too but I sold most of them at a loss, which is fine because overall the return was amazing. These were the most profitable 3 weeks of my trading career :)

    I suddenly had motivation to start a journey like this and have higher goals in general.

    I currently have 65K in btc (including the 25K) and I plan to invest 10K into altcoins in the next days/weeks and report the trades here. Hopefully we will make a lot of money together.

    In case some of you will invest based on my trades, please read the risks:

    RISKS!
    - This is speculation, so you have to be willing to lose. I had many negative months in the past.
    - Trading short term implies holding coins on exchanges and you risk getting goxed. You should split the coins among exchanges (I mostly use: Poloniex, Bittrex and Kraken but I'd love to get into GDAX in the future).
     
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  2. hiimanshu

    hiimanshu BANNED BANNED

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    Crypto has been extremely lucrative especially this past month I'm up 300%. Won't disclose how much I've invested but it's definitely been worth my time. Got a small portfolio now for the holding long term. ETH and STRAT are my focus with SYS also looking promising.

    Had small successes with day trading previously (buy in the weekends sell mid week when prices are generally highest) but my graph reading isn't that great
     
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  3. crypto-trader

    crypto-trader Newbie

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    I agree. This past month was quite something :)

    You don't need to read charts in this market really, I mostly do it because I'm crazy about every detail :p
     
    Last edited: May 7, 2017
  4. isarns

    isarns Newbie

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    Good luck looks promising
     
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  5. luke6966

    luke6966 Regular Member

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    Do you recommend any good books / courses on trading or crypto trading specifically?
     
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  6. Levimix

    Levimix Registered Member

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    I am looking forward to invest in cryptocurrency. I am also aware of the risks. Your journey has motivated me as i was always afraid of losing money but now i realize that this risk is worth taking. :D

    Post more about in future.

    Good luck and Cheers :D:p
     
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    Last edited: May 7, 2017
  7. crypto-trader

    crypto-trader Newbie

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    One of the books that helped me the most when I first started trading was Trading for a Living - Elder Alexander, it's a classic, but it has a lot of value today, still.

    However, even if my trading style involves a lot of analysis, I don't think it's crucial for crypto trading, because anyone can buy and hold for a while and sell at a higher price in a rising market.
     
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  8. Levimix

    Levimix Registered Member

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    Thanks :D
     
  9. chervenkov

    chervenkov Newbie

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    Nice man :)
    Share some more info with us :)
     
  10. crypto-trader

    crypto-trader Newbie

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    What I bought today:

    - Bought $2K worth of xlm at $0.027 earlier today. I expected it to reach $0.040 and slow down, but it looks like it's going higher (at $0.044 at the moment). I am looking for an exit right now, and after I sell I will report profits.
    - Bought $2K worth of xmr at $33.94 in the last 30 minutes. I expect this trade to take longer than 1 day.

    So far I invested $4K out of the $10K. I am trading the pairs in btc not usd, but it will be easier for you to follow in usd and it's not a big effort on my part since I am checking both btc and usd charts at the same time anyway.

    I will try to buy at least 1 more coin today. Will be back to report.
     
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  11. crypto-trader

    crypto-trader Newbie

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    Ok, I just sold the xlm at $0.049, because there is sudden volatility and the exchanges are very laggy.

    So with this trade I turned $2,000 into ~$3,630

    Total profit today: $1,630

    EDIT: There was a $0.062 high, but failed to place an order in time, which is not a big deal considering the technical issues on the exchanges.
     
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    Last edited: May 8, 2017
  12. RafaViQ

    RafaViQ Power Member

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    That's a pretty good profit.

    Can I buy these cryptocurrencies with Paypal?
     
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  13. crypto-trader

    crypto-trader Newbie

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    To buy altcoins you need to buy bitcoin first. I suggest localbitcoins.com but try to use other payment methods, because with Paypal you either get scammed or end up paying an unfair rate.

    You can check coinbase too. But I assume it's really pricy to pay with paypal.
     
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  14. zerkamaz

    zerkamaz Junior Member

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    Interesting!! Good luck with your journey, FOR SURE you'll end making $500k
    I have a question for ya. How do you predict that a cryptocurrency may go High or low? Is there any calculation or analytics behind it?
     
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  15. RafaViQ

    RafaViQ Power Member

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    How much money would you suggest to start with?
     
  16. zerkamaz

    zerkamaz Junior Member

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    I'm as well looking for a good way to buy BTC cheap/Bargain price. but after trying and scammed by a lot of people, it's hard to deal with someone with paypal. There is no purchase protection, and you'll end losing your money!
    Price on Localbitcoins are relatively higher, on Paxful as well. Is there any other options?
     
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  17. crypto-trader

    crypto-trader Newbie

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    I am a trader by profession. Speculation is my job. There is a lot of analysis involved on my part.

    Depends how much you got. Take an amount that you are willing to lose, put it in bitcoins and use 10% to trade altcoins.

    It's difficult to find cheap btc right now because everybody is buying it.

    I decided to stop trading for today. I said I would pick 1 more coin, but kraken announced that they are under heavy DDos attack and Poloniex was shutdown for a short period.
     
  18. WPninja

    WPninja Junior Member

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    I lost hundreds of thousand while experimenting the method, so now just give up this platform.
     
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  19. RafaViQ

    RafaViQ Power Member

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    Hundreds of thousands? Lol.
     
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  20. WPninja

    WPninja Junior Member

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    That's not in USD dude...if you consider USD, then it will be a couple of thousands!!!