The first week of Alex’s challenge is over. A young and successful cryptoinvestor, Alex has set a goal of tripling his trading budget – see how he’s done in week one! Follow our updates to see if Alex can achieve the goal.

Report for week 1.

So, almost a week of my challenge has passed. I made some changes to my campaign both in calculating goals day by day, and in a general target, which would be + 142% or x2.42. Also, I slightly increased the initial budget for days 2 and 3, which now amounts to $ 7270. So, let’s see how this week wemt, in figures:

Day 1. Goal: 144. The total profit was $ 21, closing a very small position on the ETC. Continued to keep long on BTC.

Day 2. Goal: 148. This day brought + 347 $. Played Long BTC twice and caught a good wave after a nightfall. Opened positions on short EOS.

Day 3. Goal: 152. Played short, accumulated + 125 $. The stock, made on the second day, allowed me to keep up slightly ahead of the schedule by $ 49. Then I started to open small positions in XMR (monero) and ZEC (Zcash).

Day 4. Goal: 212. Day 4 and 5 were pretty quiet. My positions started to lower going into minus, but I removed the stops, because I was confident in the right direction of my strategy. Also, after a slight correction of the cue ball down, I opened up a new long position quite early in.

Day 5. Goal: 137. BTC continued to fall, loss was increasing, but I remained confident in the chosen strategy. Having made a bet at once for 5 positions, including the big short BCH (b-cash), I waited with patience for a turnaround the market. As a whole, I fixed on -65 $. It is very important to constantly analyse how actual your strategy is and not to take impulsive decisions.

Day 6. Goal: 244. Jackpot! Closed almost all positions on the target, which brought me 664 $ of profit! Particularly pleased with BCH (short) and BTC (long). Immediately, I evaluated the current market situation, after which I open a hasty short with a small target on BTC, IOTA short, ETH short, EOS long. I trade all positions for altcoins to bitcoin, so I somewhat hedged against the growth of the BTC price, as well as expect the correction of expectations after the rapid growth.

Day 7. Goal: 252. The last day of the first week again fell on the expectations of asset movements to the set targets. But, XMR (monero) in long was added to the whole group, as it showed a fairly rapid decline, rolling back on all the growth over the past week. Having studied the historical price ranges, I expect, at a minimum, correction of the fall up. From the set goal, I have -323 $, but I remain optimistic and confident that I can catch up with the schedule, if later today or at night at least 2 out of 5 of my positions play out.

What lessons did I learn in the first week:

Do not rush to open new positions, or “roll over” if the goal was achieved. Sometimes it is worth waiting a little when the dynamics of the market will manifest itself (especially at BTC). Because of this, I twice missed very good opportunities for trading.

During a challenge, prices should be monitored 24/7, because you can miss out on the “pump” or “dump”. After the 3rd day, I began to set the alarm at night to check the charts, and make sure that there were no new interesting opportunities to open positions. It happened only after I twice slept in on such occasions.