Trade #4 was a bit disappointing. $BTC suddenly went up causing some alts to bleed, $EDG included. I tried holding for a bit but decided to just sell at a loss in order to ride the next trade. The following weeks have tons of good events to choose from so it’s better to get in a good position as early as possible. For my 5th trade, I went with eBoost ($EBST).
Note: Trading cryptocurrency is very risky due to the volatility of the market. Only invest what you can afford to lose.
What is eBoost and Why I Chose it
eBoost is a coin created for eSports. Users will have a “universal ledger” which they can use to hold coins for store of value. Users can then later use their eBoost tokens for wagering on eSports events. Like other coins, they also claim to be a decentralized platform. What sets it apart from other eSports based coin is that instead of choosing to run of top of Ethereum, eBoost decided to use its own platform. This makes sure that even the other blockchains get congested due to multiple and different uses, eBoost will run smoothly on its own dedicated network.
For this trade, I was choosing between $MUSIC and $EBST. Music Coin has a big announcement scheduled for January 10 while eBoost has a scheduled Token Announcement on Jan 12. Lot’s of folks got disappointed with $EMC2’s mind blowing announcement last year so I decided not to go down that path with $MUSIC. I’m also an avid eSports fan so investing on something I love made the decision easier. To add to this, eBoost also has two more events scheduled this month. This could easily help pump up the price a bit more.
Update on Future Trades for January
January has tons of great events we can take advantage of. Below is a rough outline of my future trades this January. Take note that this is not set in stone and may change due to different reasons.
|$EBST – Jan 12
$SYS – Jan 16
$GUP – Jan 18
$POWR – Jan 23
$ETC – Jan 29
|New Token Annoucnement
In-Wallet Exchange Release
World Economic Forum
A2A Messaging System
There will be times where I’ll be positioning early to setup for these events and exit as soon as I reach my target profit and move on to a different coin. That way I can maximize my profit with the multiple events happening this month. I’ll make sure to post it here whenever I enter a new trade.
The first week of January flew by so fast. Starting with 10 mBTC, I now at ~20 mBTC (according to Blockfolio). I managed to double my starting capital in about 4 trades. Lost a bit in my last trade but I learned something from it. Now I move on to the next one which hopefully will bring me more coins! As always, happy trading!
You can find my previous posts related to this challenge here:
- 10 mBTC Challenge – Introduction and First Trade
- 10 mBTC Challenge – Trade #2 Cardano ($ADA)
- 10 mBTC Challenge – Trade #3 $TRIG and Trade #4 $EDG
You can find my updated trade history in my google sheets here.
For tracking events, I use the Cryptocurrency Calendar at coinmarketcal.com.
Lastly, if you are new to trading cryptocurrencies, you can try reading my overview post and how to start doing it, here.