At the start, I wanted to set a goal to trade up to 1 BTC, but then I realized I should set more realistic and achievable goals, as despite I've been exposed to crypto investments for more than 7 months already, the total net worth for my crypto portfolio, barely reaches just 0.3 BTC.
I have a several tactics when speaking about crypto investments, the first and most stable - buy and hold once in a month, no matter what (dollar cost averaging), since the second part of August 2017 I've been playing around with swing trading altcoins on Poloniex.com, and right now the total worth of my the so-called altcoin portfolio is just a bit more than 0.033 (0.03307900684)
Altcoin Trading Review 5 Months Later
Since my early days in altcoin trading I've profited nicely, and at the start of 2018, I have redirected a good chunk of altcoins to my larger buy and hold crypto portfolio
I never sold with a negative value, even when altcoin market was literally bleeding: Bitcoin Price Increases Altcoin Market Bleeding
At the start, I tried to spend a couple of hours per day by monitoring Poloniex.com online, but later it just got boring and I executed just a few trades per month (buying low selling high).
I wouldn't say that I'm a great day trader or even a swing trader, the value growth happened because of overall market happenings, let's say this - I just surfed the wave.
At the start of 2018, when reviewing my financial goals (2017 in Review and Financial Goals for 2018) I decided to use the profits from altcoin swing trades and invest in the long term buy and hold operations 200 EUR. Which is quite nice actually. Frankly speaking, it just feels I invested EUR 200 out of the blue. This was a quite an easy money, all made with passive altcoin trading.
Now, as I love financial goals, and the biggest goal I've set so far is to land a million dollars in savings account by 2045, to reach my bigger goals, I keep setting smaller goals, like Investment Goal #1 - $100/mo from Dividend Payments, which in fact is a goal I'm still working with, but it looks I will make it work in 2018, see: January 2018 Dividend Income Report - $100.95
And now I decided to set second smaller goal - to trade up from my existing 0.033 BTC up to 0.05 BTC - there is no set timeframe I'm looking to reach this goal (but I'm looking to make it happen in 2018)
Idea is quite simple - buy low, sell high using auto orders on Poloniex.com
- I'm planning to experiment with 15%, 10% and 5% gains for each trade.
- Fresh money ~ EUR 25 will be added once in a month
In general, I'm looking to increase my BTC holdings by about 50% from altcoin trading in a short term. The success or failures will depend on timing, coin selection, the general mood in the crypto world and of course a pure luck.
