Bitcoin Forum

Hello!

I decided to do an insane Day Trading challenge in 2021 starting now.

I will try to grow my day trading account from 100 USD to 80000 USD in 2021, growing it by +80000%.

The strategy that I will use is based on a very tweaked set of R:R, leverage and fees.

▶ WEEKLY UPDATES ON YOUTUBE:
https://www.youtube.com/c/JoelonCrypto/videos

My strategy:
- Starting Balance: 100 USD
- Technical Analysis (Triangles, Channels, Support/Resistance, RSI, Fibonacci, Macd etc.)
- Taking profit at 2% on every trade
- Cutting my losses at -1.8% on every trade (by using Stop Loss)
- Leverage: 15x
- Will use an exchange that supports low fees
- Estimated Win Rate: 66%
- Estimated amount of trades to reach goal: 180

I will also reply to questions. Wish me luck!

All the best,
Joel

Interesting challenge lets see if you will succeed and Im hoping for it also its an inspiration to us if ever really huge goal but why not already sub in yt channel so that I can follow your trades, goodluck with your journey I also want to do like this but Im afraid $100 is a little bit small for a $80k target but how knows.

Thank you mate! I think this can be done, 66% win rate is not an insane win rate. I know day traders who have 75-85% win rate, which is sick. But with my setup with the 1.8% stop loss and using the right leverage and low fees, I think it's possible. But lets see! :) Thanks for the sub as well <3

Honestly, upon reading your title made me laugh and doubt with a curiosity of how could you do it, but with yourself disclosing your own identity in this forum? I then let myself hear on what you would say on the video. It's quite risky TBH yet with your safe plays and risk management, I see that you could really make it successful. Quite curious with how you've come up with your win rate percentage, is it from your past futures trades?

I'm quite interested with this and came up with the idea of trying the challenge as well, but I'm no analyst nor a day trader. Do you have telegram so I can contact you? I'll send you a PM here in the forum.

Good luck with the challenge, you will need it!

I still believe that Technical Analysis does not apply to crypto where the market moves much stronger on the news, FUD, etc.

Awesome! These are the kinds of threads we need here in trading discussion. I do trade futures but occasionally. I would definitely love to follow your trading journey from $100 to 80K  :). This brings me to a question; Are you going to keep posting of Technical Analysis, trading history and results in this thread?

Sometimes they do help though you are not supposed to rely on them all the time.

Thats funny! :D I totally get that you laughed at first, because the number is quite ridiculous but with the right setup it's actually possible. The Win Rate is based on my history with other similar strategies but also I set 66% win rate as a goal, because with a win rate at 66%, I'm allowed to lose 1 trade every 2 wins and I like lower win rate strategies. I think the pressure is too high when I set a win rate goal at above 70%. One month in 2019, I had a win rate at 87%, but I laddered in on some trades which I will not do this time.

I will not do any laddering and I will not take partial profits or anything like that. Just straight up 2% wins, -1.8% losses, thats it.

Awesome! I hope you succeed in that. Where do you plan to trade this? What exchange? I’m curious about how much capital you are going to trade per trade? Are you going all-in on this all the time? So the 1.8 stop loss would automatically be set up etc. And what time frame are you going to use?

Thanks! In my opinion, if I blindly place random trades, it's about 50-50 that I will win or lose the trade, if my R:R is close to 1:1. The "only" thing I need to do is increase the chances just a little bit to my favour.

What I feel like a lot of traders misunderstand about Technical Analysis, is they expect it to be water proof and work every time.

If you watch my video, I'm talking about a 66% win rate which would look like this:

win
win
loss
win
win
loss
win
win
loss
etc.

So even if I am wrong (or the TA is wrong) 33% of the time, I will still succeed.

I agree with you that news, FUD, whales etc. creates the waves, but I'm trading these waves and even if I'm wrong 1/3 of the times, I'm all good.

I hope that makes sense.


Thanks Jerome! I appreciate that! :)

I will post weekly videos on my YT channel where I will go through all trades and explain my thought process behind them. So you will be able to follow every step I take there.
This thread will also be updated with an overview.


Thanks for the cheering crwth!

I would recommend you to watch my Youtube video (link is in the original post above) where I explain everything in detail.
I will mainly trade Bitcoin, but also some alt-coins. I will trade on Bybit.
Every trade will be my full account balance (starting with $100) x15 leverage. So the first trade will be 100*15 = 1500 USD. Then it will grow more and more. The maximum trade size I will do is 150k USD.

Yes, I will have an automatic stop loss at -1.8% on every trade, I'm not even allowed to enter a trade before the stop loss is added.

I will use multiple time frames actually. In upcoming Youtube videos, I will go through how I do the analysis. 15 min is one of my favourites, but I usually tab between multiple time frames.

Different scenarios require different time frames in my opinion. If a major resistance is about to have a breakout, then I use larger time frames, such as 4h+ but when the market is super volatile, and I just want to grab a quick 2% short, I might only look at 1 min time frame and the order book.

Do you use bollinger bands indicator?

Question, are you going to adjust stop loss if you pop a 2% gain to let it ride - or are you going to strictly close out the trade 2%.

No, I'm not actually. For some reason I've never gotten into that indicator. I feel like I don't need it.


I would recommend to watch my Youtube video where I explain most of my strategy. I will post more videos with more details of course, but the first video covers the foundation.
https://www.youtube.com/watch?v=mqTq8IEghYM

The short answer to the question is No, I will not adjust the stop loss or take profit. I feel like it's much easier to follow-up on the results and see where I need to improve if I keep the same R:R every time.
When traders manage the stop loss and take profit manually, it's so common to cut the wins too early but keeping the losses for too long.

Also, having the same R:R on every trade keeps my emotions in check as well. Plus, it's a lot less time consuming to trade when I don't have to manage each trade.

I will get in, then close the charts and do something else. Then I will get a notification when the trade is either stopped out - or profit is taken. Then I can look for another trade.

I hope that helps :)

My only fear during times like this, or maybe fear is a bad word - maybe intrigue, is that with the volatility I am actively managing trades with the wild swings.  You could miss out on a lot of profit if you are closing trades out too early.  Same thing applies to option traders in the stock market.  Let the wins keep running and wait until their are cooling off and setting some type of daily support before exiting.  But too each their own.

Good Luck.  I will definitely be following and subscribing on youtube.

I wish you all the best in that endeavour, Joel. I know you want to use compounding to grow your capital base, ploughing back your profit into your trades without withdrawing them. However, my reservation is on the low capital and the 2% profit range you want to indulge on each trade. I believe the percentage is small and will not be the best strategy to grow at the rate you're projecting if you were to meet up the target of $80,000 for the year. Why not allow the profit run and then concentrate on your SL more.

I totally get your fear/intrigue, but I've tried a lot of different strategies over my 4-5 years of day trading, and this is what have worked best for me. I will explain the math behind this decision in future videos as well. Let me ask you, did you watch the video?

All the best,
Joel

Goodluck mate. I personally have my own challenge as well, like you I started this year with 100usd and my target is from 5usd a day to 10usd a day soon but in futures, I will be more patient this year because 2020 gives me a lot of heartbreak from failed defi investment,losses in gambling and being victim by fomo, so from this month onward I need to apply all my lessons this year, well best of luck to both of us mate, see you after 11 months, hope we reach our goal.

I find it quite amazing after checking your site https://www.winrate.io/?80000-strategy starting from $100 and grows to $64,220 then realized that just a simulation :D after watching the video, hopefully this works really well for you in reality.
Notice the price movement today, the day's range fluctuates from $32,327 — $37,800. So I assume you have made a good profit so far, waiting for your portfolio in the next week.

good luck: d I am so curious about the results of your challenge, don't forget to share the results of this challenge later

Finally a good and interesting thread on trading experience. Your video is cool man. Merit for this cool introduction, I also followed some challenge users on twitter and honestly I cant help but get inspired by the likes of you. Currently watching the video and really you are good on explaination.

Will also try this sometime. Just subscribed to your channel last night. Seems good to follow and watch your videos, looking forward to result as well.

I will Bring no Question because you already Mentioned that this is a Most Insane Thing i've ever Saw here in forum for my Years engaging  and also i never ever expect a experiment .

I will Bookmark this to all my browser from my Mobile ,Laptop and PC so i won't miss for the whole year checking even if i reformat any of them.

Won't let my self missing this once in a lifetime observation .

_______________________


GoodLuck and Hope you'll Find way to gather Good profit here.

I wish you all the best in this really difficult challenge, but I do not know if this goal can really be achieved on the ground !!! To raise your account from 100 USD to 80,000 USD in one year I find it difficult to achieve, but it is not impossible in any case, but it will certainly not be easy and you will face many difficulties. Good luck.

Good luck with your challenge.

With your trading experience for about 4-5 years, I am sure you will achieve your goals from $100 to $80,000 in 2021. I am sure you will make more than your goals. I see that you have a good plan and strategy, especially by knowing how much you should take profit and not trying to chase a bigger profit. Besides that, I see you use stop-loss, which will help you to prevent the big loss.

I am waiting for the next trading result, and I hope your trading time will be smooth.

Thank you! Yes, you have a point. There are many different ways to approach it. I have tried the method where I manage the trade actively and moving the stoploss and increasing the target profit. However, I feel like that style is a lot more emotial and time consuming for me.

Let me ask you, did you watch the video where I show the math behind my strategy? If I can have a win rate at 66%, I can actually reach the goal even with 2% trades.

All the best,
Joel

Yes, I watched the video and subscribed.  Very interested in watching the process as I have done something similar with options market in the US several times and was successful.  I understand the 2% and not wanting to have to continuously managing the trade throughout the day, but I would still monitor at some point especially in a defined bull/bear market.  I am thinking of doing something similar, but have never traded crypto in a specific day trading model.  I have always been long term or swing trade with crypto.  I just know it will be highly unlikely that I am going to be shorting any crypto during a bull market, recipe for getting annihilated. 

Its quite tough i think.
100$  is too low for starting with a target of 80k$
But who knows the future except Allah. Hopefully you will achieve your goal.
Best of luck to you. But it can be also none in the end of the year.
So never stop trying. Try your luck.

The challenge is interesting. The challenge you take is not an easy one. However, you have discussed your strategy in detail in the video, which is why everyone has an idea about your capabilities. So I will follow your thread with keen interest and keep an eye on your activities. So that this experience of yours will help us to increase our trading knowledge.

Best things to be done is  on having or setting  up a goal for your own and for this year which  would really result into persevere on what youre trying to achieve.

This isn't something that you can really achieve easily and that what really makes this challenge to be a good motivator to do your best. $100 to 80k?

Sounds impossible due to very small amount of start up but if you done it well  in constant basis then its attainable.Lets see if this one isn't something a fly by night kind
of target or goals  of someone.

Such target with little investment is really tough, but if you have the right knowledge it's possible to acquire that huge success. Very important is dealing with your research and a good motivation to continue your chase.

Most of the time, failures comes with aggresiveness, things that will interfere with your goals. Emotionless helps you to continue working and not to just throw your position ahead without certainty. You need to always be precise positioning yourself, take each steps with good precautions for a much higher chance of succeeding to this journey.

Good luck with the challenge for yourself. I rarely see traders posting their own challenges like this but here you are, posting and trying to get some encouragement from the community and you'll get what you want! Hopefully, you can do it and you'll be rich with that amount that you'll try to beat. But as long as you're profiting even if you're not going to hit the target price that you're about to aim, just do your thing and enjoy the profits in your way.

Haha! That's funny :) No we're not there yet! Lets sees how it goes!



I'm curious too! I will post updates on my Youtube channel so keep an eye there. Will also write here from time to time.



Thank you man! I'm happy to hear that! Thanks for the subscription, see you in upcoming videos!

Let see what will happen, I will not say that your target is really high because future market will still give you a profit when bitcoin/altcoin price fall. So, there will be a chance for you to reach your target.

Future market is really suitable for professional trader I guess, it is not suitable for those who just new to trade even for those who still learning how technical analyst is, they will fall if they force themselve to keep trade on future market.

I feel it until now, I just new to trade ans still learn how technical analyst is, until I can buy trading book one per week but it doesn't work. I haven't found a trading system that work for me, I just open the bool again if there is simmiliarity movement on the chart and it is really bad.

in fact technical analysis applies to the cryptocurrency market as well. if you take some time and look at the bitcoin or ETH chart and then take some time to learn about technical analysis you can see that you can use technical analysis in this cryptocurrency market

---

I want to follow this challenge and suggest to the creator of the thread that he constantly post his daily or weekly or monthly profits and losses

At most from this January we have 12-18 months for both Bitcoin and altcoin parabolic rally if the 4 year cycle will repeat itself. For $80000 from $100, it will be 800x, which might be difficult from one investment in this period either altcoin or bitcoin, however, it is not advisable to invest in only one project because the risk is high for any project and it is very unpredictable. One might need to reconsider his goal and develop a better strategy of investment to achieve certain return.

Yes, for my strategy, it doesn't really matter if the crypto market is going up, down or sideways since I'm day trading. But of course, it's always easier to trade in an extreme bull market. I think this will be an interesting challenge where we can learn a lot together. Keep an eye on my Youtube channel for the next video.



Yes, Technical Analysis work in the crypto market as well. However, technical analysis doesn't work 100% of the time of course, but we don't need it to work 100% of the times :) As long as it can work 66% of the times, we're all good.

I will update the thread here frequently. But I would suggest to keep an eye on my Youtube channel for more information about the challenge.



Yes, but I will Day Trade, so I will be able to catch the smaller waves as well and I'm also using 15x leverage, so in the theory, I can grow a lot faster than HODLers. But this is a challange, so lets see! :)

I'm planning to accept this kind of challenge the same value but I will trade with the finance I almost trade just a minimum of 10 USD and a maximum of 30 USD now I would like to try this challenge too by my self but right now I will risk over 100 USD the same with OP just to try but I think I will go for a 15-20 leverage and using technical indicators of

MACD
RSI
BOL

Just wondering OP I hope you will notice this what coin you are trading with? Just BTC pair? Can you whisper some of them? Just a tip too because you already made a lot of trades than me.

I will follow this thread. You have set ambitious goals, although I don't think you can, but ... nothing is impossible). In any case, good luck, you will need it, I hope this thread is not closed after a month)

Thats awesome! Have you tried using a 20x leverage in my profit calculator?

I will mainly focus on trading BTC, but sometimes there might be a better opportunity on other coins as well, such as ETH, BCH, LTC. In that case, I will trade these coins as well. But in general I think BTC is a bit easier to trade.


Thanks, feel free to follow me on Youtube as well, where I will post updates. Thanks for the good luck :)

I put on myself something similar but the margins are smaller. I put 200$ to get to around 3k until end of 2021. I have bookmark this page and we will see what will future bring to us. Good luck.

It is a difficult challenge, this person should be really confident in his/her skills which is a good thing because being confident with your skills makes you determined and not hesitate to make a decision. I was dumbfounded when I counted the zeros, that is a lot of time to grind your way, I hope that you will succeed. It will be a difficult journey for OP though as the prices are still running rampant.

By reading such posts it really makes me happy.
I wonder, people are so clever that they do a lot of research and finally creates a well deserving strategy.
But as i have always heard from the old people, no strategy works second time. Will this statement apply to this one too OP?
Nevertheless OP, please keep updating us what’s the result in every week, so that we can know how far you are lucky.
Moreover by reading the strategy, i am unable to understand it completely, so let me just quickly watch your video to understand it completely.

Nice, it's fun with these challenges. Especially when you have a clear strategy. Thanks!



Thank you! :) Yes, I'm very confident with the math behind the strategy. I know for a fact that I will succeed if my win rate is 66% or higher. However, that's the part I don't have the control over. So I might fail, but I will do my very best. If I can reach the goal, not only will it be killer content for YouTube, but I will also have +80000 USD :)


Thank you LimLims!
I will definitely keep you up to date!

The best way to follow my journey is by subscribing to my Youtube channel (Link in the first post above).

Thank you guys for all the support!

This is first time I am seeing such thread about trading challenge and the challenge is not like as a lollipop. It's 80000% growth challenge in one year. It's quite interesting. I can not believe this is really possible and someone can do that. But yeah I wish you a big good luck. And I will watch the video when I have some free time so that I can get it easily in my head Since this is challenging strategy. Keep updating here :)

I'm happy to hear that you find it interesting! This is what I would enjoy watching, but no one is doing it, so I had to do it myself :) There are very few strategies that can achieve this, since I have to work with a very specific leverage and R:R to even get the math to work.

Now when the math works, it's up to the win rate to stay above 66%. I hope I can do it! I will post here and on Youtube with updates.

Cheers!

When are you releasing the next video?

I'm working on the next video as we speak. It will be released between 24-26 Januari. Thanks for your patience.

challenges is a motivation too, I wish you success with your challenges...
the challenge of $ 100 goes to $ 80k profit is beyond the mind. little wrong act just makes you lose and panic. I hope you keep in control of your thoughts and greed.

Looks interesting challenge and hope you will get successful with your challenge. And your strategy also looks quite good because your strategy looks very safe not a huge leverage hopefully you do not see any thing like what you do not want to. And i appreciate your this decision that you are sharing your challenge with all of us because it gives us more confident that crypto is a place where we do not need a huge number of money to start. We can start with a little amount what do you say am i right? And your success motivate all of us to dream a new outstanding day. Love and a success wish from all of us.

Hey, man. Congrats for taking the challenge publicly. I've watched a little bit of your youtube video. I'm glad to see that you're focusing on risk management as it is a known fact between the professional traders that this aspect, together with managing emotions are more important skills than having great technical analysis skills (the pros have the all three)

Have you thought about posting more often on YouTube? I'm sure that even short, 1-2 minutes videos with updates about your journey will keep the community engaged.

I wish you luck and in the case that you happen to fail at least you are only going to lose 100 dollars, still my first impression is that simply what you are trying to get is simply too high and I do not want to imagine the kind of risk that you are going to need to take just to have a chance to make that a reality.

I understand that the volatility in this market can be massive and you can take advantage of it but a single mistake will most likely cost you all your capital, and while I think you are going to make some fast progress I do not know if you are going to be able to reach your stated goal.

A very interesting challenge can make a capital of $ 100 to $ 80k, this seems impossible to achieve for those who do not understand math.
Yet if we do everything correctly, it is very possible that in a year the growing profit is 80000%. I will always monitor your YouTube videos.
To be honest after seeing your video I was quite interested in doing the same thing, I hope you and I succeed in achieving the desired profit
target.

That’s some really crazy challenge that you’re about to start up. I would like you to screenshot and record every step as you go through it so that we can be seeing it as a proof. For you to be able to achieve that you must be someone that highly skilled in trading ,and since we all knows the level of risks that cryptocurrency trading carries , it will be difficult for anyone to believe that anyone can easily pull this off.

I wish you luck though, and I know for sure that if you focus and  work hard you might be able to achieve a good number with the 100 dollars, though I don’t know about reaching 80k with it.

If YFI can go from 790$ to 43k then why can not you? I really like to know about your progress about your challenge. I think that's not impossible but you need luck too because trading with high leverage can cause high losses too. 


I have watched your video and it was really interesting that you made that calculator. But I think it would be much more convenient for us if you show us some live examples of how you are going to do that.

Hi! I just want to let you all know that my next video is a bit delayed unfortunately. This project was a bit more time consuming than I first thought. But an update is coming soon. Stay tuned!

I thought you already gave up with your project, no worries though, of course there are a lot of roadblocks and it's really time consuming and not that easy to create a content video specially that bitcoin has of late has been in the downward trend.

Willing to wait and see how it goes for you, again it will not work as much as we like and there are challenges to face, specially if coming comes up IRL.

What a full of confident and guts you have dude, anyway good luck! to your journey on this matter.
This might be a big challenge, and let's see how long you could grow you capital within 1 year as you stated in the
above mentioned. If that happen, you will surely become an inspiration to most of the members here in the forum.

I think people care about the latest situation more than the video itself honestly. I know that creating a video would mean you would make a bigger profit, and in case you fail your challenge and not make 80k with your 100 bucks (let's face it most people think you won't be able to, including me) you would at least have a youtube video income in that case.

However we care more about the numbers and not about the video, which means if you really trust yourself that you could make this type of profit, you do not need the few bucks that would come from youtube. In that case I would rather check here time to time to see how you are doing by way of text. You would just come here at the end of every trading day and you would write how much you made or lost and we would see if you are on the path to achieve it or not. This way it just looks like you are trying to get subs for your channel and that's about it.

I understand what you mean, I have followers outside of Bitcointalk who also wants to know how it goes. So Youtube will be the place where I will focus on the updates. It's also easier to explain the trades and the thought process behind them on a video. But I will of course update here shortly by text as well.

Do not do it, I understand the attractiveness of the profits you can get but at least it seems the OP has a better idea of what he is doing, you need to understand that the risks that the OP will need to take are going to be massive just to have a remote chance to get his goal.

He will need to invest in new coins and use leverage in order to have a chance to get those results and one single wrong move while doing that could mean losing all his capital, so while this makes for an interesting challenge this should not be tried by anyone that is not an expert trader.

New weekly update on Youtube live now:
https://youtu.be/4azgMZrgOak

I watched your video on YouTube now and subscribed to it quite insightful and well analyzed, I believed this is a big challenge to us who wanted to start crypto trading to learn, understand and know the rope, I will be interested in watching your weekly analysis and try follow your trading style or strategy and I would like to know the money management you had utilized and how you are compounding your profits so as to achieve your desire target of $8K at the end of the year.

Thanks for the support Gabbie! I will keep posting! :)

I just wanted to stop by and say kudos to OP on his challenge. I watched both your week 1 & 2 videos for the challenge and I can't say interesting it was. One thing I did like was the fact that you were real with your results. I mean, you showed us your losses which one a very few amount (<1%) of PRO traders do. You also admitted going against your rules and other mistakes you made. So raw and I like it.

In the coming weekly updates, I hope you make recordings of the times when you're doing TA for your trades. At least viewers can learn a thing or two TA stuffs. I know a lot of people will appreciate it. Good luck on future trades  ::)

I saw your second part video and it's seems that your trading is suffering more on loss than gain. This is actually what I'm expecting for a leverage trade with x15 leverage. You set a +1% stop loss which is very close when you open a x15 position. The market is very sensitive using that leverage and the chance of hitting your stop loss is almost 99% even the market is on uptrend/downtrend.

You should set your stop loss a bit higher so that you will have a good margin on your trade or decrease your leverage.

Very interesting topic but after going through your day 1 trading YouTube video i lost interest, you started with x15 leverage and after some few loses you applied panic trading and started trading above initial leverage and skip all your rules in the process going from $100 to $100 that's not encouraging enough. Realistically $100-$80000 challenge won't hit.

Ditto. Same tired lines from so-called professional traders. I don't mean to be mean but if you're going to sell a strategy (and let's face it, that's what winrate wants to do) then at least do yourself the professional courtesy of sticking to your strategy.

15x leverage WILL incur losses -- you have to know that. But if you're actually using your methods and stick it out, you might see results. But not if you're impatient.

Honestly it wasn't a shock to see that it was volatile, after all we are talking about going from 100 bucks to 80k, and obviously that is going to take some time in the most extreme cases. When you go for very high risk stuff to make huge amounts of profit, you are risking to lose in a big time, you could lose everything very quickly, and that means in order for you to win, you have to do multiple very high risk stuff back to back without any mistake and that is nearly impossible.

It is not technically speaking impossible, if you could know all the big wins and losses in the directions and act accordingly you could win but who could win it that well all the time without any mistakes with that much risk on the line? Very few people in the world. I say do not give up, keep grinding and eventually you will be in a good position, maybe not 80k but would be decent if you keep this up.

Exactly my point why the panic trade when you have a whole 365days  to complete your $80k challenge if he can't keep to his own rules of 1-3 hrs a day trading interval then greed has already flown in. I'm waiting for his next trade video

If you are investors of the bitcoin when it first released and you invested to the bitcoin and you are hold it for 10 years and you sell it today you are earned millions of dollars. But now you need to find a very cheap coin that will going to increase the value in the future that will gives you a lot of profit. This challenge is very difficult to achieve but you find what coin it is or you have hardwork you can get that.

I tried the website and I think this is a good head start as initial information to those people who want to start trading on the part about the winning percentage I think this now depends on the user/trader because we have a different set of feelings, emotions, greed and more and sometimes we didn't follow those set of goals. The winning rates now depend on you. However, this is good content too. Have you set a new challenge what's your current progress?.

I think that another point that is not being mentioned much is the fact that at the beginning trading with just 100 dollars is going to be easier psychologically as if you make a mistake then you are only losing a few dollars, but lets suppose the OP got to half of his goal and he reached the 40k mark, don’t you think it is going to be way harder to trade at that point once you have reached that stage on the challenge?

If the OP is violating his own rules and strategies so early in his experiment what we can expect to happen once a lot of money is at stake?

One thing about challenge is that the author knows exactly the weak point and will never point it out, possibly, op had been performing that but wouldn't be successful, I have certain different challenges on accumulating huge amount of dollars but you found out the author stopped at some point because it seems to be going as planned.
Best method of increasing portfolio is holding and challenge causes short of coin in the long run.

That's interesting, I just watched the second video, and you really risked losing all you had left in your account with high leverages ;D

I usually see certain traders encouraging people not to use the entire balance of their account to open a position even if the leverage used is very low.
Do you think using the entire balance could be affecting your performance?

What if you reach the $20K level, will you still use all the $20k to open a position on a 15x leverage?

In my opinion, I feel that he knows what he's doing and it isn't the first time he's managing a trading account so he does know his way around stop losses and how they work. A lot of people have a different opinion about where stop losses should be placed - using percentages or by market structure but at the end of the day, it depends on what works for the individual. As per the latest update, he's back at ~$100. I also want to point out that he made majority of those losses because he didn't follow his own rules.


Like OP said in one of his videos, he doesn't need to trade daily or even force trades. He just needs a couple of good trades from time to time. Two wins for every loss.

It could be done. But it might take a long time.
Maybe faster in gambling. ;D

So I got bored with the first 10 minutes of the 2nd part and stopped watching. He took a lot of time adjusting the settings in tradingview and tutorials.
Will he trade at the end of the vid? Accepting spoilers.

I believe in you! 100$ is small for big time trader not us, so everytime someone asking how much will you spend opening your account to play it only 100usd, you don't need to use a large amount of you are only new to this. Well Goodluck to op I hope even when he faces some loses and Lose streak he will go and continue his journey using that amount only.But the larger that amount it will be the more chances we will get when we trade.

Thanks for the support everyone!

For you who lost faith in me because I had a bumpy start, I understand, 100%.

However, I will not give up, and I expect next update to be in the green.

For me, day trading is all about identifying the weaknesses and correct them. Past week, my psychology was failing on me which lead to me breaking my rules. So the strategy itself is still intact.
Now, lets fix the psychology issue and move on.

Yes its hard but not impossible and good strategies will give you desired Goal.
Win rate is also good and can be achieved. One thing is that you will be active during this time period to get your goal

Of course it needs to be appreciated if indeed the op will remain consistent by only relying on funds that are $ 100 for every time he wants to step in everything he does. certainly something that is not easy and if it is applicable. If as you say, if on the other hand you get a loss and stay consistent with that amount, of course, it is also worth appreciating.
if he can reap the benefits of this is something that is very encouraging and of course it will continue to grow and the opportunity is still possible to happen continuously.

It is not about "losing hope" but more about how it is near impossible for someone to get that much rich that easily honestly, and that is the point we are talking about. I mean sure having 80k is nothing in the world of rich people and a lot of people do have 80k+ in the world, not me, not 90%+ of the world but there are a ton of people who do.

However none of them turned 100 bucks into 80k+ and that is the part people are not sure about. Having a second video where you also failed was just a proof that it is a very very difficult thing. Is it 100% impossible? Of course not, it is not possible at all and it would never be possible, however at the end of the day we are talking about having a huuuuuge return and that is why people are having hard time believing you can do it, not because it is you or someone else, it could be anyone ever and we would still have hard time believing this would be possible.

Yeah, saw that, I didn’t believe it when I saw that headline that he plans to reach 80k USD with just 100 bucks, he’s got to put in more and be an expert in trading to be able to reach that amount. But I think he shouldn’t give up hope, but rather continue what he’s doing, even if though he doesn’t reach that amount, the target he has set for himself will motivate him to achieve something good and reasonable with the 100 USD he has invested.

This is really going to be a tough challenge that you’re setting up for yourself, but I hope you win this challenge and if not, then I wish you come close to the target you have, reaching 80,000 USD with just 100 USD. I just saw your latest YouTube update, you should keep it up, if you continue it steady , you might achieve something good, although I wouldn’t still believe that reaching that 80,000 USD is possible.

I think it is not impossible, I know someone who actively trading but in futures not in spot, he started having 100$ and after a week he already have $1000, that is because he knows how to trade he's not a beginner at all maybe in futures yes but in Spot Trading, he already has an experience so earning $80,00 in a year is not impossible to those people that are eager to earn it. I am starting to start my trading career using 100$ too.

Part 3 is now live on YouTube: https://youtu.be/pqNXLgaZmQs

I'm up +63% this week with a 75% win rate.

I hope I can keep this up!

Congratulations on another profitable trading week! I had been checking your YouTube channel for week 3 update a couple of times but as people would always say, "better late than never". I enjoyed watching this week's video even if it wasn't that long but I got to see some of your TA and your thought process for the trades. While I can't take the challenge too since I'm still learning and picking up more experience, it's fun and educative to watch you do it. I would be looking forward to more weekly videos and I hope you keep being profit. Only $37 left to hit the first 100% mark. Goodluck and kudos to your for the content.

I watched part 3 video now kudos for making a tremendous progress this week I hope to see consistent wins in your in subsequent trades which will motivate newbies or new traders, I like your higher timeframe TA analysis however I discovered that most of your trades are counter trend and most of the articles or videos I read and watched always emphasized on trade the with trend I will like you to shed more light on this, I knew that your trading decisions is based on many traders taking profits at the peak of a trend of course at the peak the price might experience just a minor pullback before continuation of the trend shorting at those peaks isn't that counter trading?

How are you going to be doing that? You have just $100 and you expect to make up to $80,000? meehn you’re literally far from achieving that, unless you’re going to be doing some steady magic to blow up your money and reach that extent.

As for me I don’t think that’s going to be possible. You should have said something that is very close to being achieved , although I do know that anything is possible and can happen in this life, but first target where it’s easy to reach first.

I will do it by using a calculated strategy with 15x leverage. Since I will re-invest all wins, the account will grow exponentially (if I can keep my win rate above 66%). I would recommend watching my first YouTube video where I explain the strategy.

You can also check my strategy on winrate.io here:
https://www.winrate.io/?80000-strategy

A short update: I had a good trading week. My account balance is now at 313 USD (+213% gain from 100 USD)

This week, I placed in total 10 trades (one is still open), so 9 completed trades

7 wins and 2 losses (77.78% win rate)

7 shorts and 2 longs

New video coming tuesday or wednesday. Stay tuned.

This is not the kind of negative energy we need here. I don't know why people keep bashing and discouraging any trader trying out his strategy. I mean give the lad some courage for coming out here to show what he's trying to do instead of just trying to shut them down. maybe you could learn a thing or two

I have been following his trades from the first video, and he seems to be doing pretty much well especially after losing over 50% of his initial $100 in the earlier trades.

This challenge is barely a month old, and he has made about +213% from $100, Isn't that impressive?
For starters, have you ever made +200% in a month while day trading?

I don't think anything is really "impossible" as far as trading goes. You just have to focus more on getting more wins than losses and in time, these wins accumulates into a more bigger one. OP is even using leverages for his trades which come with much bigger rewards (if the trade is neither breakeven or loss). So I think it's quite achievable if he can be consistent with his trades and he seems to be doing that at the moment.


Congratulations on another great week. I'd be looking forward to your next video. Hopefully it should contain some of the TA you used for this week's trades. Kudos to you.

New video update is published today, watch it here:
https://youtu.be/xznFZNvXhh4

New video available on Youtube:
https://www.youtube.com/c/JoelonCrypto/videos

Hi OP, I think there's a problem with the simulating tool especially when the total balance of the portfolio hits around $8K and above. Right from there the PnL doesn't seem to change. The value is fixed at +2050 USD for profit and -1850 USD loss no matter how high the margin goes. I think this affects the final results of the projection.

https://talkimg.com/images/2023/07/19/Z0gCf.png

Take note how consistent the values seem to be, i thought we would see at least PnLs like -1711 USD, + 2186 USD etc for different margins used in each trade
Please check and see if there’s a problem with the tool's computation.

Hi!

Thanks for letting me know about your thoughts. It's acutally not a bug. There is a default setting in "Advanced settings" where there is a max position size. Because when using leverage, the position size can get very large, so we want to cap the position size. But it's possible to change this setting.

Hope it helps. All the best,
Joel

Hi Joel. Thanks for your response. It's what I was waiting for before I start my small venture using your strategy. I just want to see how I will also perform after 180 trades  :)

As per the position size does Bybit have such limits like Binance?

It's been 2 months now almost, I wondered hows thing going now with your plan?
how many percent you've earned from this challenged you made it to yourself?
This is not an easy thing plan actually, it needs a good Technical analysis in my own opinion. I may not be a good or expert one but at least have basic knowledge only. Good luck to you. :)

He does upload videos about how he carried out his trades and the TAs here - https://www.youtube.com/c/JoelonCrypto/videos

You can also track his performance using this link - https://www.winrate.io/joels-80000-trading-challenge
As of today, His Winrate is 56.3% with 180% gain. His current account balance is 280 USD after 32 trades.

Its really interesting that you have planned for long term trading keeping in mind loss and gains.It would really be great if you could manage to achieve your target of $80k no matter how much times it take.Your success rate of 60% win/loss is somehow possible probability if you strategy goes right.You can hit high profits in single trade and suffer loss in next few trades but you need to be determined and make adjustments in your plans but wish you best of luck for your future goals.

Though 180% is a long way from 80,000%, It still looks good from the look of things. OP already mentioned a couple of times that he doesn't have to take too many trades so it's understandable. I'm just concerned about why his winning rate dropped significantly from the last time I saw. I'll reserve some time to go through his recent updates. Haven't been able to keep up with OP's trading challenge for  a while now but that's in the past now.

I just published a new weekly update about the trading challenge:
https://youtu.be/BJ9DcDNz0HM

Currently +442% in the challenge.

That's really insane challenge. Obviously it is gonna be rollercoaster ride over the time since bitcoin is all about volatility driven by the investors from small investor to big fat institutional investor. You will see big up surge - the bull and after that sooner or later you may see a valley of death - the bear trend. I know you might have thought this through considering the big challenge but you should always move the assets in the stablecoin whenever bitcoin is going bear. Then buy the BTC again. I think this will help you garnish more and more profits. All the best for your +80000%, I wish it will come to your way soon.  :P

This is a very awesome challenge. Good luck with that. Will follow your progress from here on.  ;D

That's impressive, just watched your video and the Technical analysis prior to opening your position. I am really learning a lot from your strategy especially the part of being very disciplined, sticking to the rules and risk management.

Let see if the new 3% TP and 2% SL will be effective.

I am very much impressed with your results and wish we had an opportunity to invest in this challenge through pamm accounts. When will you create it and give us a chance to invest in your strategy? If you are not taking investors, can you share your trades before you enter them? I want to enter and see if we all can move up our portfolio.

Joel just created a challenge for himself and to show others how his strategy might work... or not from $100. I don't think he's into the idea of pamm accounts as of now.

The information he is giving is rather very useful and educational to anyone who wishes to learn how to trade and earn from it.

He usually posts videos of his trades on YouTube - https://www.youtube.com/channel/UCrRIGXx4L5hlU3YX0_dXEuQ
You can track the progress of his challenge here - https://www.winrate.io/joels-80000-trading-challenge ($736, +636% gain after 37 trades. Impressive, isn't it?  ;)

Outstanding challenge. I hope that you can beat it.

I always believe that by trading, we are able to multiply our balance to infinity. However, up to now, I only suffer loss and tears cause of being reckless in trading. I have to think carefully before making any trade in order secure my profit as well as my current balance.

I also believe in compound profit.

Yeah you should share your trade here or any supported exchange for us to follow. Or you can open your own copy trading.

Joel is now up by 1269%  ;)

Not sure why he hasn't come here lately to share the good news, but I thought I would help out. I know there is still a great deal of trades to reach 80,000%, but his trading journey from scratch has been full of fun and lessons to learn. Keep up the high energy Joel!

https://talkimg.com/images/2023/07/19/Z0sNC.png

A few things to note:

He did adjust his take profit to 3% and stop loss to 2% due to the currently highly volatile market. Also, the winrate was adjusted down to at least 60%
I hope he updates this info in the OP

.