Turn $10,000 into 1 Million

[redsun114]

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!

Lol so you are rich dude! You got an amazing amount with you. That will be so yielder if you just use that in technical way. Don’t regret, I think you can make more than $60k just be technical in trade, buy or sell or invest whatever suits you and make money. It is not just difficult.

[holepauvre]

I have also 10K$ to invest. I'ts a dream for a beginner like me to make 60K$ in few months 

[lilRoy07]

OP, are you sitting pretty?

need a running update

[monkeybars]

Hey, OP we would like to see an update
Actually, the idea is nice. I would have shared my investments if I had them

[HR]

@everyone_looking_for_an_update

READ THE FRICKIN THREAD!

I've been posting weekly updates throughout and posting all the buys and sells in real time (excepting those rare occasions when I was sleeping  ), as well as answering questions, explaining methodology, and sharing ideas and perspectives with other contributors.

[dumbtool45]

As an answer for your signature. Amazing, LTC is amazing. I really don't understand why people don't use it.

Ether is great because of the contracts that can be created. But coblee did the greatest coin as supply, way of a transaction and so on.

I send a few weeks ago some litecoins even with a really low fee, almost to minimum.

[HR]

@everyone_looking_to_get_in

BE PATIENT!

You'll have an opportunity sooner or later to buy in at a very nice price. Now is not the time to be getting involved IMVHO.

I'm not interested in managing other people's money, so scratch that as a possibility. Nevertheless, you can learn how to manage your own, and follow along and participate here with what you're doing, learning, and contemplating. That's the idea here. And forget about the numbers. Let's say my model portfolio starts the next buy cycle with $100,000.00 - you'll be able to easily participate in any multiple you like: $10,000.00, $1,000.00 or even $100.00. The percentage weighting of each component would be a piece of cake to calculate, etc. And if you wanted to invest say $20,000.00 or $2,000.00, well, you'd just double what the $10,000.00 and $1,000.00 figures would be. Do you see how easy it would be to follow along and actively participate as well?

Use the interim to learn as much as you can about crypto, study the history of especially BTC and LTC, research different technologies, look for projects you like, get an account setup with Bittrex, and be ready to act when the time comes. I assure you that it will be one of the most profitable endeavors of your life, but YOU have to do your homework - nobody is going to spoon feed you or do it for you.

You can do it! It's just a matter of putting your mind to it. 

[HR]

As an answer for your signature. Amazing, LTC is amazing. I really don't understand why people don't use it.

Ether is great because of the contracts that can be created. But coblee did the greatest coin as supply, way of a transaction and so on.

I send a few weeks ago some litecoins even with a really low fee, almost to minimum.

Value is a perception in auction markets, and LTC is still perceived to be something "less" than what it really is. There's still lots of 2013 thinking out there among participants. Sometimes it takes longer than others for mass psychology and perception to adjust to new realities. While BTC was working okay, there wasn't much a need for big money players to look for something else. That's changing, and with Litecoin doing everything BTC can do and much more, it's only a matter of time until there's a huge revaluation in LTC, in my opinion. The last time BTC sold off, LTC rallied. It was being used as a hedge. LTC will probably be the only "Alt" that I will not sell when BTC starts to sell-off next time. As I've mentioned before, during the last BTC mini-correction, LTC actually went up big. Just look at the update for week 6 to see just how good LTC was for the portfolio during that time.

Week 6 Update


https://i.imgur.com/JiS6N8k.jpg

[barbara44]

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

I think if we invest $10,000 in bitcoin there is a big possibilities that it can become $1 000 000. Bitcoin is really full of potential and it is really good for investment. I expect that in the future we will get our benefits that is from bitcoin.

Bitcoin is not the only option for that $10,000 because there is a lot of coins or what we called altcoins to choose from so it is better and advisable to diversify or divide your capital to different coins so you can have a safer porfolio for long term because if you will depend on bitcoin with that $10,000 then you are in a high risk already.

That is right but don’t you think if you are divided in many coins and you can’t focus on anyone so would it be profitable. I think, no. bitcoins are so safer and profitable but still if you are working with coins, choose any one coin mostly. And start working on that with full devotion either they are bitcoins or any other.

[ltcdude]

@everyone_looking_to_get_in

BE PATIENT!

You'll have an opportunity sooner or later to buy in at a very nice price. Now is not the time to be getting involved IMVHO.

I'm not interested in managing other people's money, so scratch that as a possibility. Nevertheless, you can learn how to manage your own, and follow along and participate here with what you're doing, learning, and contemplating. That's the idea here. And forget about the numbers. Let's say my model portfolio starts the next buy cycle with $100,000.00 - you'll be able to easily participate in any multiple you like: $10,000.00, $1,000.00 or even $100.00. The percentage weighting of each component would be a piece of cake to calculate, etc. And if you wanted to invest say $20,000.00 or $2,000.00, well, you'd just double what the $10,000.00 and $1,000.00 figures would be. Do you see how easy it would be to follow along and actively participate as well?

Use the interim to learn as much as you can about crypto, study the history of especially BTC and LTC, research different technologies, look for projects you like, get an account setup with Bittrex, and be ready to act when the time comes. I assure you that it will be one of the most profitable endeavors of your life, but YOU have to do your homework - nobody is going to spoon feed you or do it for you.

You can do it! It's just a matter of putting your mind to it. 

You've convinced me to step out of lurker status. I've been in LTC since 2013, and ETH for a while, but I've just been a "hodl" sort of guy - not delved into any of the other altcoins at all...until I came across your thread. Fascinating read.

So n00b question here with trading alts on Bittrex. I understand most alts (e.g. PIVX, STEEM etc) can only be bought with BTC, while others can be bought with LTC or ETH.

So let's say I'd like to get into STEEM, and my entire portfolio now is comprised of only 12.12238 ETH. For simplicity's sake, let's say I'm looking for STEEM to be 10% of my portfolio.

Example:
1. At current exchange rate, 1 ETH = 0.08249200 BTC. Sell around 12.12238 ETH and receive 1 BTC.
2. At current exchange rate, 1 STEEM = 0.00030907 BTC. So I sell 0.1 BTC and in return, receive 323.55 STEEM.
3. I now hold STEEM for 4 weeks. Let's say after 4 weeks, 1 STEEM = 0.0004 BTC, and increase of around 30%.
4. So at this exchange rate, I now sell 323.55 STEEM, and receive 0.12942 BTC.
5. Rinse, repeat with other alts.

Is my understanding of the altcoin trading process on Bittrex (and perhaps, other exchanges), correct? Or am I missing something fundamental?

[olliedickman]

It is trading dude. And good luck. I hope that you can earn a really good money from your strategy. I am also a trader and I trade almost everyday. Everything seems great to me but I can not x100 my capital yet. It is still very hard even when you have about $1000. Try to focus on Burstcoin. It seems very potential

[HR]

@everyone_looking_to_get_in

BE PATIENT!

You'll have an opportunity sooner or later to buy in at a very nice price. Now is not the time to be getting involved IMVHO.

I'm not interested in managing other people's money, so scratch that as a possibility. Nevertheless, you can learn how to manage your own, and follow along and participate here with what you're doing, learning, and contemplating. That's the idea here. And forget about the numbers. Let's say my model portfolio starts the next buy cycle with $100,000.00 - you'll be able to easily participate in any multiple you like: $10,000.00, $1,000.00 or even $100.00. The percentage weighting of each component would be a piece of cake to calculate, etc. And if you wanted to invest say $20,000.00 or $2,000.00, well, you'd just double what the $10,000.00 and $1,000.00 figures would be. Do you see how easy it would be to follow along and actively participate as well?

Use the interim to learn as much as you can about crypto, study the history of especially BTC and LTC, research different technologies, look for projects you like, get an account setup with Bittrex, and be ready to act when the time comes. I assure you that it will be one of the most profitable endeavors of your life, but YOU have to do your homework - nobody is going to spoon feed you or do it for you.

You can do it! It's just a matter of putting your mind to it. 

You've convinced me to step out of lurker status. I've been in LTC since 2013, and ETH for a while, but I've just been a "hodl" sort of guy - not delved into any of the other altcoins at all...until I came across your thread. Fascinating read.

So n00b question here with trading alts on Bittrex. I understand most alts (e.g. PIVX, STEEM etc) can only be bought with BTC, while others can be bought with LTC or ETH.

So let's say I'd like to get into STEEM, and my entire portfolio now is comprised of only 12.12238 ETH. For simplicity's sake, let's say I'm looking for STEEM to be 10% of my portfolio.

Example:
1. At current exchange rate, 1 ETH = 0.08249200 BTC. Sell around 12.12238 ETH and receive 1 BTC.
2. At current exchange rate, 1 STEEM = 0.00030907 BTC. So I sell 0.1 BTC and in return, receive 323.55 STEEM.
3. I now hold STEEM for 4 weeks. Let's say after 4 weeks, 1 STEEM = 0.0004 BTC, and increase of around 30%.
4. So at this exchange rate, I now sell 323.55 STEEM, and receive 0.12942 BTC.
5. Rinse, repeat with other alts.

Is my understanding of the altcoin trading process on Bittrex (and perhaps, other exchanges), correct? Or am I missing something fundamental?

Absolutely correct. BTC is your basis that you trade in and out of. Once you get used to it, it's as natural as trading stocks with USD, for example.

The best part of it is that you're also indirectly invested in BTC. If BTC goes up in dollar terms, then your .12942 BTC example would also be worth the equivalent gain that BTC had (the reverse is also true). For example, let's say that you did that at today's BTC low of 4460 and now you're selling at 4560 (current BTC price) - your .12942 BTC would give you $590.15, a gain of 32.32% on your $446.00 investment instead of the static figure of 29.42%. When BTC runs up by 80%, like it has from its July lows, that is a hefty gain that you benefit from, often just offsetting your Alt BTC losses, but also contributing when the Alt runs higher at the same time - like many did this spring. If you're involved in good Alts, and BTC is in a bull market, it's difficult to lose money, and the possibilities of making a lot of money are good, but, again, as I stress over and over again, those Alts need to be GOOD ONES.

If BTC heads south, they you're playing another game. Years ago, well, really almost until this year in general, there was an inverse relationship between BTC and Alts. That changed dramatically this spring with the huge influx of fiat coming into the space, and I think it's a sea change that's here to stay (baring exceptions like LTC which still looks to be trading inverse in general in spite of having a fairly direct relationship in April and May when it too rose alongside BTC - checkout the second graphic on this post for a side by side comparison https://bitcointalk.org/index.php?topic=1936239.msg20841065#msg20841065 ).

The only thing I would correct with what you said would be to say that you're really "buying" STEEM, and not selling BTC, much like when you buy Apple, for example, we buy AAPL (we don't think of selling USD in that context); when selling BTC, we think of going to fiat, or a fiat equivalent, and then you're out of crypto (either virtually or really) altogether. That's really nitpicking on my part, but little nuances like that can affect the rest of our conceptualizing in a butterfly effect manner, so I mention it, just to be safe.

[HR]

It is trading dude. And good luck. I hope that you can earn a really good money from your strategy. I am also a trader and I trade almost everyday. Everything seems great to me but I can not x100 my capital yet. It is still very hard even when you have about $1000. Try to focus on Burstcoin. It seems very potential

Yeah, it is essentially trading, longer term, more specifically, swing trading guided by best practice portfolio management as it were, mainly because I have a day job and don't have the time, but more importantly because I'm a terrible trader. 

But that doesn't mean that day traders can't share their ideas. One thing I'd caution you on though is over trading. I'm sure you're well aware of that, but sometimes you can do much better with a lot less trading - another key aspect about crypto investing/trading that I'm sharing with this thread. 

Best of luck on whatever you decide on. Regardless, patience is the word - take what the market gives you and then take a walk in the park from time to time.

[ltcdude]

The only thing I would correct with what you said would be to say that you're really "buying" STEEM, and not selling BTC, much like when you buy Apple, for example, we buy AAPL (we don't think of selling USD in that context); when selling BTC, we think of going to fiat, or a fiat equivalent, and then you're out of crypto (either virtually or really) altogether. That's really nitpicking on my part, but little nuances like that can affect the rest of our conceptualizing in a butterfly effect manner, so I mention it, just to be safe.

Thanks again. The only reason I framed it that way was to see if I can truly understand/internalize the supply/demand relationship between altcoins and BTC. I wrote "buying altcoins by selling BTC" to emphasize the fact that when people buy alts, they need to "get rid" of some of their BTC (or ETH, or LTC, etc) to do so. And if they are looking to take profits off the table, they need to buy back BTC before they can again reconvert that BTC to fiat. In other words, in theory, when Altcoin A has seen a good run and starts taking a dip, that's when most people decide to get out...increasing their demand for BTC...which in turn pushes the price of BTC even higher.

But maybe I am overcomplicating things needlessly, given that BTC trading volume is orders of magnitude higher than most altcoins', and that the supply/demand aspect of people getting in and out of Altcoin A would barely cause a dent in BTC price...

[bumpski]

I'm new to coin trading (not new to investments though) and it seems I found the right thread on the right message board early on. I guess that's something. Already learned a couple things from the discussion.

Just wish folks would stop quoting the larger posts for no good reason. Or maybe edit the relevant quotes. Or a forum software that automatically minimizes the quoted content.

Anyway, the effort put in by HR is much appreciated. When I went through this thread for the first time, I was surprised that not more of the, let's say, more experienced folks simply adopt his strategy with whatever balance they have at their disposal. Well, I guess I know why that doesn't happen. But I digress...

Maybe I should come up with my own challenge: From $100 to $200 without an additional deposit. Or something like that. 

[MissionPhailed]

Looking at your graphs, I guess I'd be the kind of person who would become kinda agitated and obsessed with the Sell-button between 17-6-2017 and 1-7-2017. At the very least I would cash out the initial investment. Good for you for having the willpower and nuts to keep trading without compromise ... ! It definitely has paid off in the last week.

And as mentioned earlier in this thread; your insight in your trading activities could learn novice traders (like me) actually something.

[expire]

So what is the status of you progress?

Millionair already?

[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!

Lol so you are rich dude! You got an amazing amount with you. That will be so yielder if you just use that in technical way. Don’t regret, I think you can make more than $60k just be technical in trade, buy or sell or invest whatever suits you and make money. It is not just difficult.

I am not mentally strong enough to be a trader. I tried it many times. I mostly failed. (not failed actually but didn't make any huge profits like the op did and that is same as failing to me:))

However, I had more luck with hodling. I made less profits compared to OP but at least i sleep well at nights.

I made my pick with "Bitcoin" and i am not going to put any dirt into that bucket. My strategy;

1-If it goes up buy bitcoins.
2-If it goes down buy more bitcoins.

Works fine so far.  

[QlooQl]

What do you base your trades on? News? Charts? Gut feelings?

[BullCreek]

are any of these coin PoS?