This is not only the first post of mine but the first post in what I plan to be a series of posts documenting an 11 trade experiment. The end goal is to have made $1M by the last trade. I plan to make 100% on every trade as a minimum, which I will move in full onto the next trade after reaching the target for that trade. My first few trades will require me taking profits at 2-300% before moving on to meet this target because of the low value of my initial trade.
I do have other trades on the go but those are all investments in projects I believe in and I will keep those active. This is an exercise performed out of interest and if it pans out then I will be able to live my life entirely on the blockchain, so lets see how it goes =-)
I have begun by putting $250 into HSR. The trade itself has the possibility of a 700% return from where I'm at but I will happily take profits and move on before then. By trade number 3 I will only need to make 100% on each trade.
Here is my plan. I will pick coins the next coins when i am ready to invest in them.
- HSR - $250 -$750.
- another coin: $750 - $2K
- $2K -$4K
- $4K- $8K
- $8K -$16K
- $16K - $32K
- $32K - $64K
- $64K - $125K
- $125K - $250K
- $250k $500K
- $500K - $$1M
That's it. Pretty simple. Just need to have the guts at the higher end to drop large amounts in one trade. Logically, one dollar or 100 thousand should make no difference but I cannot discount that I may struggle emotionally. Time will tell. Wish me luck! =-)