It’s way to small a sample size, could be pure luck… but yeah, we’ll have an idea. I also don’t think we’ll get the exponential growth we got last year, based on market cap figures. But we’ll see!
I don’t know how you can get anymore clear than my explanation above.
It matters when you hold, not only the amount. When moving in and out of positions, you could miss out some gains. Perhaps you are lucky and can swing another coin while ICX is not moving, then move back in to ICX to catch ALL the gains. But in the end you have to calculate your gains from trading vs pure hodling.
You can become a millionaire with 10 000 USD within a year if you trade.
The past week would have been great swing trading ICX. It all depends on the market conditions. Looking back everyone can see where to buy and sell. If someone is willing to put in the work and learn they can be successful most of the time.
I see. So when there’s sideways action you can make money swinging. But in a bull run you better hold on.
So let’s take an example. Obviously, there is an opportunity here, to buy at around 36k and sell at around 40k. But how would you know it doesn’t continue up after you sold? Experience?
If it moves to 45 or 50k after selling, and doesn’t come down, obviously we have lost gains, even though we still made money on the trade.
Yes, you are right. Icx isn’t a coin that I would be picking as a consistent option for swing trading, especially at this stage of its release. You could sell at 40K and it could tear off to 100K in a blink. Pick something that has been around a while and has history.
I’m seeing exponential gains… It was a great trading day today so far… can’t wait to share the results! I noticed that I’m getting better at it, and my reads/timings are cleaner now. I’ve also gotten more confident so, I’ve doubled and tripled volume of swings. Tonight’s results are going to great!
I do have a core position that I don’t mess with. The money I’m swing trading is approx. half a BTC… albeit it’s about one BTC at this point. There is of course my moon ticket ( 1BTC) in reserve just in case a 30% off sale happens on any given coin.
ICX consistently has had a > 5% drop every-night, and there’s always someone clearing the paper thin buy-walls in the AM. It’s been a sure bet so far… <–(Famous last words)
Whaaaaaaaaat. Fuck I need to stop hodling!
Doesn’t matter if it takes off or not, I have 5,000 ICX as a core position. I don’t mess with it. I would only sell the 1000 I bought on the dip. I’m not dumping all my ICX and swinging in and out… although, I don’t know that it’s the worst idea. The title of the thread should really be … 1% compounding… that’s the experiment I’m running.
Getting to a million from 10 000 USD requires you to put a lot of work in, daily.
I on one day once made a 9000 USD profit, trading for like 14h, which is not good for a persons sanity if you do that 365 days.
9000 USD * 365 = 3,3 MUSD, but that is assuming you put in 14h, every 365 days of the year, also assuming that you make the right calls consistently every day.
If you would have put in 10 000 USD investment into ICX at 11 cents and it reaches 100 USD (which is 1000 X, you’re at 10 000 x 1 000 = 10 MUSD (please note that the max amount to invest at Icon ICX was 9000 USD).
So best is probably to find an ICO that you think will do bigly and go in with 10 000 USD, but be ready to loose your shirt.
11 cents wow… if only it was open to the US.
I think that 14 hours decreases as the volume doubles and triples etc. based on the returns you make… i.e. compounding returns. Although, your method is not the set it and forget it strategy that I’m leaning more towards.
I prefer to hodl, I still have pain in my arse 3 months after I sat in the chair for 14 hours straight.
Love this post well played @Kenny_K just wondering do you use any trading tools to enter a trade and also I see on your spreadsheet your gains vary percent wise do you just watch the chart or set your target and wait. Again fair play in what u are doing its always nice to be making more money/btc.
Getting those Ripple gains, even though I don’t own Ripple! When I think a coin can’t go lower, set the limit order for slightly lower… you never know when weak whale hands clear those thin buy orders on the bottom. Ran in to that many times yesterday with Ripple.
Starting to build more confidence… I’m more apt to hold longer positions, and larger positions now. Trading heavily on market sentiment.
I added the HODL comparison… keep in mind this is with a very depressed BTC, which is much of my trading account volume. That, and the fact that my HODL portfolio, has a decent chunk of XRP. THis is a fun experiment, should be slowing down in a few days, because I have to go back to work lol. Vacation over!
I’m just try to exploit the market, I have a lot of my own theories, but I feel like, as a new swing trader, I should probably keep those techniques to myself, until I can prove it.
Basically, I’m trading off of feel… in conception. I understand many of the tools traders use… not all (still learning). But—I don’t think the crypto markets can be solved like that… or else trading bot would be 100%
My percentages are based on how much sure I am of my call. Again to reference Poker, if I have a bad hand, I just try to get 1.8%… but when I buy a far undervalued coin… I go all in!!
No hassle thanks for the reply will be keeping a close eye on this to see how it goes best of luck
Thanks, I’ll do a write up every 30 days about strategy if I’m still profitable. If not… well HODL lolol!