Turn $10,000 into 1 Million

[mindrust]

Now i have nearly 10k$ in bitcoins. If i followed you from the start with that amount, i would have had 60k$! (which nearly equals my whole life savings) That's crazy!

[HR]

Looks like this one might be getting away. I could be wrong, but the portfolio needs rebalancing and this has got to be done.

Bought another 20,000 SYS. Got SYS coming out of my ears. 


https://i.imgur.com/SiVxjKB.jpg


And with that I'm done rebalancing for now. Will start answering some questions and replying to comments.

[Similificator]

Perhaps not exactly "trading", but it just might be one of the shortest time frame investments you'll ever make.  

How about a portfolio competition?

Using today’s price to establish opening position cost basis, the following portfolio has a minimum target of $100,000 (if everything goes wrong) and a maximum (still conservative) target of $1,000,000. (Explaining the reasons why goes beyond the scope of this friendly competition.)

Litecoin (LTC) – 50%
BitShares (BTS) – 10%
STEEM (STEEM) – 10%
Syscoin (SYS) – 10%
Nxt (NXT) – 10%
PIVX (PIVX) – 5%
NEM (XEM) – 5%

We’ll see how it does. Wish me luck!


Full Disclosure: I currently hold many of these issues as “long term” investments (but not all at this exact time since I’m still looking for a better entry on one in particular), and could purchase or sell any, at any time, and/or trade short term as well, with the weighting for this “model” portfolio being somewhat different from my own, where, for example, I am currently overweight LTC, BTS and PIVX.


https://i.imgur.com/MqTGARn.png


Edit: Forgot one very small detail at the time: the price of Bitcoin. It's highlighted on the 5 min chart below.


https://i.imgur.com/00lZU8s.jpg

Wow, that's a pretty hard challenge you have for yourself now mate! Haha
Pretty hard but not impossible. You just have to be lucky and skilled enough to be able to hold and sell for the right times. You are very brave. Succeed or fail., you have my respect. I wish you all the luck in the world. And hope that you reach your goal.

Please do update this post on every progress you make.

[mindrust]

He is already about to get to half of the road. When he reaches 100k$, thats %50.

10k$ (%0) > 100k$ (%50) > 1000k$ (%100)

After 100k$ all he has to do is gaining another x10 

[Kopen]

Back from vacation!

Question time: What's your broad strategy for rebalancing? In particular, for mine, I'm thinking through:

• Brackets for taking profit (and how much to take at each)
• Where to hold that profit (...LTC?)
• How often to do it
• Big one: Do you rebalance based on individual performance (i.e. XMR is up 300% -> put 33% someplace else), or based on target portfolio %'s overall (i.e. after 10% drift, move coins with less emphasis on individual fundamentals).
  

For instance, elements of my (and your) portfolio did nicely over the last week. Just can't tell if its worth it to hodl for a year and rebalance with new fiat or keep making these relatively exotic swaps (plus the stress that comes with chasing alts + taxes).

Technically, I'm still underweight on my LTC % even after some profit-taking into it, so that makes me think I should take even more into it. Even so, part of me is like...that's a high % of LTC just sitting there, and I want to reduce that position even further into something looking more primed (i.e. STEEM/BTS/etc.).

Thoughts on a rational framework for this?

[MissionPhailed]

Gonna follow this ... ! These kind of challenges are fun (to a certain level) and could yield a lot of profit. Respect for the fact you've managed to increase your initial investments with roughly 500% in a timeframe of just several months. I did something similar albeit with much smaller amounts; from $100 in november 2016 to around $2000 in last june. Now I've set the personal challenge to reach $1000 worth of crypto from 0 investment.

Good luck, OP ... !

[HR]

Regarding ICO’s, and MCO: I don’t much like ICO’s since most are losers, just like I don’t like lottery tickets either. Once in a while there’s something that’s interesting and novel with a strong, experienced team behind it though. Can’t say that MCO is the only one there is, but it’s what I happened to come across while researching more established prospects, and I liked it. Nonetheless, it’s a short term trade and nothing more at this point. Still got around a 3rd of the initial investment and I think we’ll see higher prices to sell into. I wouldn’t be buying at these levels though, based on what I know, but the price objective could be a whole lot higher. I’ll take my short term gains, maybe keep 10 or 20 MCO for the hell of it, and then buy back later once I’ve seen real world implementation.

Regarding fees: the answer is basically no, the model portfolio doesn’t reflect fees. Sometimes it does, like when the trade amount is the exact of that for my own account, but otherwise, most of the time, when working with relative percentages, I don’t go to the trouble. The percentage difference is so minimal that it’s not worth my time.

BTC or USD? Sometimes one’s up more than the other, and vice versa. The USD is the world’s currency “baseline”, so I use that, ‘cause sometimes BTC is up more than Alts, and sometime it’s the Alts that are up - if you’re doing your job right, theoretically your USD balance should always be moving higher (the exception being when everything crashes in unison, and then you’d better be in USD).

Start a blog? I’ve blogged before, and I’m not sure. Don’t know if it would really change anything much. My posts and comments, replies, etc. I am doing something similar on Steemit right now - @cryptographic - but not exactly the same. Not sure, but I’ll keep giving it the thought it deserves.

Am I really brave? No, I don’t think so. Am I taking a big risk? Not at all. How can I say those things? One word: diversification. Actually, I’m a coward with extremely low risk tolerance.

@Kopen, your last post deserves more time than I have right now and I will answer you later – don’t get your hopes up though, I might have something resembling a rational framework, but I’m afraid that I don’t have a strictly objective one. 


Thanks again everyone for all your well wishes, comments and contributions - I encourage everyone to get your feet wet with whatever speculative capital you may have. It doesn’t have to be 4 figures either! You can start out small. There’s plenty of time. Crypto will be around for a while, and this early growth phase should last a few more years still. Don’t chase, be patient, and you’ll have a great correction to buy into sooner or later. Guaranteed!

[HR]

Bro/Sis, this is one of the longest comments I have ever read on this forum aside from obviously signature campaign/announcement/bounty threads which can sometimes be longer, for obvious reasons.

Just want to say thank you for writing long posts to keep this community alive, because without them this forum would just be filled with spammers posting one-liners and not contributing anything to the conversation.

Really appreciate your comment. My intent is to try and do just that. I remember the camaraderie of the early days when we were mainly mining and we worked together and shared information freely. It really was widely distributed and decentralized! With the advent of the miserly meanness of our new “era” of trading, self-branded P&D, I want to try to do my small part to bring back that sense of cooperative, “open source” environment back to crypto, and this fabulous forum that is one of the most important “windows” and first point of entry for many a crypto noob is, in my opinion, one of the best places to do that.

Thanks again, and don’t be a stranger.

[HR]

Now i have nearly 10k$ in bitcoins. If i followed you from the start with that amount, i would have had 60k$! (which nearly equals my whole life savings) That's crazy!

Not to worry. I'm sure you'll get your chance. There will be a major correction down the road that you'll be able to buy into. It's not a question of if, it's only a question a when.  

[Sled]

Now i have nearly 10k$ in bitcoins. If i followed you from the start with that amount, i would have had 60k$! (which nearly equals my whole life savings) That's crazy!

Not to worry. I'm sure you'll get your chance. There will be a major correction down the road that you'll be able to buy into. It's not a question of if, it's only a question a when. 

I don't think that there will be a major correction because the price seems a solid right now and if there is going to be a correction then for sure it will be just like a little dip and it will pump again. The only thing that is good for now to not lose opportunity is to buy and hold it for a long run so you money can be multiplied into a bigger amount that you couldn't imagine.

[Valzzz005]

Perhaps not exactly "trading", but it just might be one of the shortest time frame investments you'll ever make.  

How about a portfolio competition?

Using today’s price to establish opening position cost basis, the following portfolio has a minimum target of $100,000 (if everything goes wrong) and a maximum (still conservative) target of $1,000,000. (Explaining the reasons why goes beyond the scope of this friendly competition.)

Litecoin (LTC) – 50%
BitShares (BTS) – 10%
STEEM (STEEM) – 10%
Syscoin (SYS) – 10%
Nxt (NXT) – 10%
PIVX (PIVX) – 5%
NEM (XEM) – 5%

We’ll see how it does. Wish me luck!


Full Disclosure: I currently hold many of these issues as “long term” investments (but not all at this exact time since I’m still looking for a better entry on one in particular), and could purchase or sell any, at any time, and/or trade short term as well, with the weighting for this “model” portfolio being somewhat different from my own, where, for example, I am currently overweight LTC, BTS and PIVX.


https://i.imgur.com/MqTGARn.png


Edit: Forgot one very small detail at the time: the price of Bitcoin. It's highlighted on the 5 min chart below.


https://i.imgur.com/00lZU8s.jpg

It can be turn into millions, it is possible knowing that bitcoin value never stops to grow every time. Maybe after this year bitcoin will start to rise again and doubled it price lile what they always do, it can really make us a millionaire and not just a millionaire but a wealthy people. It depends on how much money we invest into it. The more money we invest the more profit we will get. And besides bitcoins never fails us in their price, they did it before so I'm sure that they can do it  over and over again.

[rhomzkie26]

Bitcoin so far was 4300$, where the value is getting good right now. I would agree that it will reach 10,000$ or more but 1M$ each of bitcoin, I think before that happen I'm not here anymore in this earth.

[bustomi]

Wow, many people have their own possibilities to do something amazing, 1million was very much dude, whit your carculation, i believe you can do it

[torry28]

Bitcoin so far was 4300$, where the value is getting good right now. I would agree that it will reach 10,000$ or more but 1M$ each of bitcoin, I think before that happen I'm not here anymore in this earth.

You misunderstood with this thread. Op showing to us if his plan to make his $10k into $1million from alt and bitcoin trading, not about bitcoin price speculation.
It's still far away to reach that but so far i seen OP already did great job with his analysis and turned his $10k into $45k

[HR]

https://i.imgur.com/kfLjTXh.jpg


Current Weightings:

LTC 30.08%
STEEM 14.53%
BTS 13.73%
MCO 11.25%
SYS 10.24%
PIVX 6.36%
NLG 6.34%
BTC 3.54%
GRS 3.48%
XMG .45%



And remember, don't chase! Be patient. Nothing goes anywhere in a straight line. There will be a major correction! It doesn't take a rocket scientist to see that this is the time to be taking profits, NOT buying. Also remember that Alts are ultimately valued in BTC - this is without a doubt speculation in BOTH Alts and BTC, and when BTC heads south, so will Alts (perhaps not so much in BTC terms, but in USD it will hurt just as much as the drop in BTC - just like they benefited on the way up).


https://i.imgur.com/b28K6hI.jpg
https://blockchain.info/charts/market-price?timespan=all

BTC lost over 80% of its value from Dec. 2013 to Jan. 2015.

[CrackedLogic]

I'm not sure if this has been asked before but, how are you valuating your porfolio? Are you using the historical cost of the initial btc you invested with or are you valuating with the btc price changes?

[Struelf34]

hodl a coin which you trust 100% and in its potential

[MissionPhailed]

Looks like you're gained roughly $20.000 in a mere two weeks. The treshold of 100k might be achievable within a month if the market remains bullish. It only takes a 60-65% increase of your current holdings to reach this amount. I suspect I'd be making stupid moves with this amount of crypto at my disposal ... !

[HR]

I'm not sure if this has been asked before but, how are you valuating your porfolio? Are you using the historical cost of the initial btc you invested with or are you valuating with the btc price changes?

EOD (End Of Day) quotes in BTC, then translated into USD. That way you have both BTC and USD valuations. For the reasons cited many times before in this thread, everything here is current, real time, EOD USD.

The same thing that Coinmarketcap does, just that they do it averaging over all listed exchanges, and I only use Bittrex data.
http://coinmarketcap.com/

[whitehatrigs]

I'm not sure if this has been asked before but, how are you valuating your porfolio? Are you using the historical cost of the initial btc you invested with or are you valuating with the btc price changes?

EOD (End Of Day) quotes in BTC, then translated into USD. That way you have both BTC and USD valuations. For the reasons cited many times before in this thread, everything here is current, real time, EOD USD.

The same thing that Coinmarketcap does, just that they do it averaging over all listed exchanges, and I only use Bittrex data.
http://coinmarketcap.com/

Great performance mate, thumbs up!

I never understood why all alts are linked to BTC.

I mean, some exchanges propose Fiat trading directly but it is not the standard way, I usually have to convert to BTC to get Fiat.
This is why we think there is much trading happening on BTC, in reality it is mostly gateway. I hope one day exchanges will stop treating BTC like some kind of special crypto, it really is nothing special and will die slowly once mass crypto adoption happen.

Hopefully, Kyber Network will get it from the beginning.