10 mBTC Challenge – Past Trades and Event Updates

Updates

It’s been almost two weeks since my last post. My day job demanded a lot of time recently and as a result I was not able to do a regular post on my trades. I still managed to put in some buy and sell orders for some coins but I was unable to blog about it. Past Trades and Event Updates will be my focus on this post to make sure everything is as transparent as possible in my 10 mBTC challenge. It was hard to catch some nice profits in the past few days because of BTC’s movements. With the market somewhat recovering, I can hopefully get back on track to my road to 1 BTC.

Past Trades

After a very nice profit from $EBST, I decided to try my luck with $GUP. It didn’t turn out quite well because of the market crash that happened during that time. Since there were some more upcoming events around that time, I decided to cut losses and move my funds to a new coin.  I lost about 1.1 mBTC in that trade which is roughly 3.4% of my total coins for this challenge.

With the market going down, I tried my best to look for an event which can still result in a price increase despite of what is happening. I was looking at Syscoin ($SYS), and Edgeless ($EDG) then. $SYS was going to release a wallet with a built-in exchange so I thought it was a good choice. $EDG on the other hand was going to release a new version of their platform which I thought was also good.

I only had two choices so I just did a coin flip. That led to me buying $EDG. I earned almost 3 mBTC from my trade in $EDG which roughly 10% translates to an almost 10% profit. What made me feel good about this trade was that despite the market being down, I managed to pull out at the right time and still made a small profit.

Right now, my coins are with $LBC. They will be releasing a new website which I think may not be that great in terms of driving the price up. However there is something in my gut telling me that I can still earn a few coins from this trade. Hopefully this trade turns out well so I can move on to other coins with events which I think can really drive their prices up.

Future Events

With the first month of the year coming to an end, different coins are scrambling to catch up and deliver their promises made from last year. This can be seen with the vast number of events going to happen as the month closes. I’m still thinking of how to maximize my gains with those many events. I might divide my stake to multiple coins or I might still stay with just one single coin.

At the start of my challenge, I mentioned that I will be basing my events from coinmarketcal but a friend of mine recently introduced me to coindar which I think is also a good source to compare information across different crypto calendars. Both calendars are community driven so most of the time, news or events found there are often reliable.

I aggregated a collection of future events this January which I think will help drive the price of the coin up. You can find that list below:

$SC – Jan 21: Hardfork for difficulty update. NOTE: No new coins!
$TRX – Jan 22: game.com partnership/possible Kucoin listing
$GUP – Jan 22: New product launch
$EOS – Jan 23: First partnership announcement
$ICX – Jan 24: ICX Mainnet launch
$EDG – Jan 24: Platform updates (new games, updated UI)
$XLM – Jan 25: 2018 Roadmap
$THC – Jan 26: New website, whitepaper and fork updates
$ETC – Jan 29: A2A Messaging System release
$NEO – Jan 30: Developers’ Conference
$ADX – Jan 31: Beta Release
$BTG – Jan 31: Roadmap update
$TRX – Jan 31: Multiple events
$SYS – Jan 31: Blockmarket Web 1.0 and Desktop 1.x release
$FUN – Jan 31: January Updates
$ICX – Jan 31: ICON Annual Summit
$BNB – Jan 31: Coinburn

Wrap Up

I guess that wraps up everything I wanted to share so far. I’ll try my best to provide updates as much as I can but I may not be able to always blog about it. However I always make sure that I update my google sheet to properly reflect what I buy and sell. I’m still thinking of ways to properly update folks outside my blog. I’m thinking of setting up a telegram channel just for updates as well as tweeting my trades. I should be able to setup something right before January ends.

That’s it for now and as always, happy trading!

Other Details

You can find my previous posts related to this challenge here:

You can find my updated trade history in my google sheets here.

For tracking events, I use the Cryptocurrency Calendar at coinmarketcal.com and Coindar.

Lastly, if you are new to trading cryptocurrencies, you can try reading my overview post and how to start doing it, here.