So I decided last year I was done putting money into crypto but I wanted to see how far I could make $20 go through spot trading. The strategy was to stick to spot , buy tokens which I thought would increase in a short space of time through studying the funding rate changes and just generally keeping on top of what was hot or not. I grinded my way through Q4 of 2023 going from $20 to $100. January came and I doubled to $200 so I thought it would be easy street from then on. February and March were heading into bull territory so I was confident I could make a killing when alts started flying. But that was not the case. I only made $25 profit in February. I was a plus so I was content but I thought it would be more seeing I doubled my money in January. So heading into March I had $294.83 to play with which was fine. I would pick 3 tokens and if 2 out of 3 flew then I would close them all and take the hit on the third one to increase my bottom line. Before i used to just wait on the 3rd coin to rise back above the breakeven. It could take a week or two or 3 but I started just cutting my losses on these which I am hoping frees up funds to make even higher returns on tokens that are successful.
It is amazing how fast the crypto world changes and I think Hive need to take note of this. Before Hive was at the forefront of web3 and gaming but I think we have somewhat fallen behind in some ways and we are now the old people of the space that are afraid of change. When I started out this challenge , tokens like TIA , MANTA , DYM were my go to tokens for a quick buck. The reason these tokens were on the up was because if you staked these tokens then you get airdropped even more tokens and these new ones would go straight into Binance at $4. $TIA airdropped $DYM for example and this is now trading at $6 so there was money to be made in this. However the dawn of memecoins came on the scene and staking TIA or DIA was not the done thing to do anymore. The money was now in memecoins such as PEPE , MEME, WIF , BOME and a whole list of others on the Solana blockchain which are still relatively unknown but people are getting in early in a hope they skyrocket. I myself purchased a bag of $OSAK in a hope this would do the same and make me a millionaire. It might just do that the way things are going. But it has not taken off as of yet.
So March was meme coin trading for me. I took a hit early on with a new token called $PORTAL which I purchased the second after it launched. Now the 4 or 5 tokens before this launch all hit the roof but not $PORTAL. That went down and then down again as there was still people getting airdrops for days after the launch so I took a hit on this one. I focused on PEPE alot this month. PEPE is going up and down between the 0.000000700 bracket and the 0.000001000 bracket so it was a simple case of waiting for it to drop then buying low and selling high after a couple of days. I tried the same with MEME but it was not playing ball quite as much and I purchased near the 0.04 range and unfortunately this was it's high. But I waited and sold at 0.41 and got out by the skin of my teeth. Other coins I had success with were BOME and WIF. WIF is a mad coin "Dog wif Hat" and it's gonna be at $5 soon which is madness but I don't care if it has utility or whether it is a shit coin. Doesn't matter to me. I just want volatility.
Date Token Quantity Price per Unit Total Cost Sell Price per Unit Sell Total Profit Loss Percentage +- Cum
01.02.2024 Opening Balance 294.83
02.03.2024 PORTAL 23.7 3.39 $80.34 2.24 53.088 -$27.26 -33.92% $267.58
02.03.2024 PORTAL 385.9 2.0707 $799.08 2.209 852.4531 $53.37 6.68% $320.94
03.03.2024 JASMY 8762.7 0.020172 $176.76 0.023 201.5421 $24.78 14.02% $345.73
03.03.2024 TIA 12.2 16.44 $200.57 15.99 195.078 -$5.49 -2.74% $340.24
04.03.2024 PEPE 27811761 0.00000695 $193.29 0.0000072 200.2446792 $6.95 3.60% $347.19
04.03.2024 MEME 5106.89 0.055334 $282.58 0.045373 231.71492 -$50.87 -18.00% $296.32
04.03.2024 JASMY 4175 0.024789 $103.49 0.02109 88.05075 -$15.44 -14.92% $280.88
12.03.2024 BCH 431.8 0.243 $104.93 0.242 104.4956 -$0.43 -0.41% $280.44
12.03.2024 API3 3.921 27.32 $107.12 27.29 107.00409 -$0.12 -0.11% $280.33
12.03.2024 OM 347 0.30914 $107.27 0.323 112.081 $4.81 4.48% $285.14
13.03.2024 PYTH 125.5 0.8919 $111.93 0.9096 114.1548 $2.22 1.98% $287.36
14.03.2024 AEVO 33.74 2.98 $100.55 2.16 72.8784 -$27.67 -27.52% $259.69
14.03.2024 RONIN 23.74 4.321 $102.58 3.268 77.58232 -$25.00 -24.37% $234.69
15.03.2024 PYTH 129.9 0.8554 $111.12 0.9027 117.26073 $6.14 5.53% $240.84
15.03.2024 PYTH 138 0.8475 $116.96 0.9097 125.5386 $8.58 7.34% $249.42
15.03.2024 JUP 108.1 1.1583 $125.21 1.2237 132.28197 $7.07 5.65% $256.49
15.03.2024 HIFI 130.4 1.0104 $131.76 0.8498 110.81392 -$20.94 -15.89% $235.55
16.03.2024 BOME 16480 0.11418 $1,881.69 0.11638 1917.9424 $36.26 1.93% $271.80
20.03.2024 PEPE 10636947 0.00000684 $72.76 0.00000794 84.45735918 $11.70 16.08% $283.50
20.03.2024 ETHFI 25 4.089 $102.23 4.215 105.375 $3.15 3.08% $286.65
20.03.2024 METIS 0.932 109.34 $101.90 103.47 96.43404 -$5.47 -5.37% $281.18
20.03.2024 MEME 1973 0.036197 $71.42 0.036715 72.438695 $1.02 1.43% $282.21
21.03.2024 RONIN 73.85 3.721 $274.80 4.05 299.0925 $24.30 8.84% $306.50
22.03.2024 GALA 2573 0.05787 $148.90 0.05843 150.34039 $1.44 0.97% $307.94
22.03.2024 KLAY 449.5 0.2595 $116.65 0.2552 114.7124 -$1.93 -1.66% $306.01
22.03.2024 XTZ 99.6 1.232 $122.71 1.256 125.0976 $2.39 1.95% $308.40
22.03.2024 BCASH 0.28 409.8 $114.74 456.2 127.736 $12.99 11.32% $321.39
23.03.2024 FLOKI 401781 0.00023537 $94.57 0.000241 96.829221 $2.26 2.39% $323.65
23.03.2024 FLOW 102.43 1.289 $132.03 1.302 133.36386 $1.33 1.01% $324.99
23.03.2024 AEVO 96.98 2.42 $234.69 2.42 234.6916 $0.00 0.00% $324.99
23.03.2024 ID 210.789 1.1086 $233.68 1.1069 233.3223441 -$0.36 -0.15% $324.63
23.03.2024 XEC 2057670.27 0.00006469 $133.11 0.00006845 140.84753 $7.74 5.81% $332.36
24.03.2024 BOME 11704 0.014173 $165.88 0.013659 159.864936 -$6.02 -3.63% $326.35
24.03.2024 LSK 33.9 1.894 $64.21 1.993 67.5627 $3.36 5.23% $329.70
24.03.2024 KLAY 628.9 0.2658 $167.16 0.2719 170.99791 $3.84 2.29% $333.54
24.03.2024 ONG 391 0.3905 $152.69 0.3944 154.2104 $1.52 1.00% $335.07
24.03.2024 RONIN 34.78 4.242 $147.54 4.167 144.92826 -$2.61 -1.77% $332.46
25.03.2024 FLM 1389 0.1231 $170.99 0.1293 179.5977 $8.61 5.04% $341.07
25.03.2024 LPT 7.65 20.15 $154.15 20.59 157.5135 $3.37 2.18% $344.44
25.03.2024 NMR 3.97 36.54 $145.06 37.53 148.9941 $3.93 2.71% $348.37
26.03.2024 RLC 32.5 3.889 $126.39 4.061 131.9825 $5.59 4.42% $353.96
27.03.2024 RLC 35.1 3.753 $131.73 3.981 139.7331 $8.00 6.08% $361.96
28.03.2024 WIF 36.6 3.8179 $139.74 4 146.4 $6.66 4.77% $368.62
28.032024 PYTH 184.1 0.9155 $168.54 0.9604 176.80964 $8.27 4.90% $376.89
26.03.2024 PEPE 15289692 0.00000827 $126.45 0.00000874 133.6319081 $7.19 5.68% $384.08
26.03.2024 MEME 5823 0.040078 $233.37 0.040315 234.754245 $1.38 0.59% $385.46
27.03.2024 DGB 14686 0.016 $234.98 0.01658 243.49388 $8.52 3.63% $393.97
28.03.2024 ZRX 161 0.9079 $146.17 0.7446 119.8806 -$26.29 -17.99% $359.16
30.03.2024 NMR 4.81 36.75 $176.77 33.83 162.7223 -$14.05 -7.95% $345.12
30.03.2024 SPT 3000 0.07649 $229.47 0.0711 213.3 -$16.17 -7.05% $328.95
Total March $42.64 -0.62%
So March was a bit mad with double the amount of trades than February. In the end I was going for the $100 profit but I got caught at the end of the month when Bitcoin did not break resistance as expected at the end of March and everything went tumbling down which cost me half my profits. I did manage to get out in profit and look forward to April where it is expected alts will go mental.
Point to note about April, during the last halving everything was on the up until Bitcoin halved and then everything dumped for a week before a rise again so I am going all out until the 20th April (predicted halving) and then take a break for a week to see the lay of the land.
My strategy has gone more away from the funding rate changes and more into meme coins but I did hit a nice little funding rate token with Ronin on the 21st March. The trick with the funding rate in spot is to get in just before it turns negative. If it is negative then you have missed the boat so to speak because normally the token has begun it's moon trip and this is why the funding rate goes into negative figures. To see a token go into negative values and has not mooned yet is paradise valley and this happened with Ronin so I made a handy profit here.
Now some people are saying to me why don't you just hold. If I had held $Jasmy for example I probably would have made that $40 with just this coin. I don't think so. From experience everything goes down again with the exception of Bitcoin and Ethereum. And this is a trading post and not a hold post. I am holding coins but that's boring and it locks up liquidity that you can be making more money off.
With PEPE and the meme coins I have thrown $20 into the futures account to short when there are swings. I will not be taking note of these on my spreadsheet as this is strictly spot. I have warned myself not to do it but I have strict instructions that I am shorting the coin on a 1x basis so I can't get liquidated. It is just a means of profiting from these meme coins falling when shit hits the fan.
So there you are. The start of April will be profitable as everything will increase after the dump at the end of the month but I will thread carefully in April as we are getting into real money now and just in time for the bull run. But crypto is moving so fast that it will be something new in April. The likes of the new BASE blockchain is flavour of the month but I don't see why because there are quite alot of fees here. Now they are small but the reason why Solana is so popular is that the fees are very small. Kind of like Hive but they still cost money which is strange that Hive is not the top dog in blockchains as it is free. Crazy how hype and marketing can be the difference.
So there we have it. March not as good as expected but still on the up and up and more money in the kitty. Roll on April. Trading is fun.