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Speculating in cryptocurrencies: A rough approach
Rank: Elder Joined: 7/11/2012 Posts: 5,222
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S.Mutaga III wrote:This market is crazy. Insane swings. 3 days later and the portfolio is already up 14%. I wouldn't be surprised to check after another three days only to find 50% gone. It is extremely volatile. Classic case of FOMO  Remember, try not be greedy. Set target, once realized, take profit, then SOBERLY set another. I put up a link a while ago. The same market shed off 70%, and can easily do more. The forces are still with in play. Stay sober
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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Stiffler wrote:Is Bitcoin being pumped. Billion dollars within a few hours...?! Out of nowhere..?!
11% Gain in 24 hours But si news is awash with big money in play? The worst is Soros. I'd very very afraid
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Rank: Elder Joined: 6/23/2009 Posts: 14,248 Location: nairobi
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Mukiri wrote:S.Mutaga III wrote:This market is crazy. Insane swings. 3 days later and the portfolio is already up 14%. I wouldn't be surprised to check after another three days only to find 50% gone. It is extremely volatile. Classic case of FOMO Remember, try not be greedy. Set target, once realized, take profit, then SOBERLY set another. I put up a link a while ago. The same market shed off 70%, and can easily do more. The forces are still with in play. Stay sober Stay woke
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Rank: Member Joined: 3/26/2012 Posts: 830
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Mukiri wrote:S.Mutaga III wrote:This market is crazy. Insane swings. 3 days later and the portfolio is already up 14%. I wouldn't be surprised to check after another three days only to find 50% gone. It is extremely volatile. Classic case of FOMO Remember, try not be greedy. Set target, once realized, take profit, then SOBERLY set another. I put up a link a while ago. The same market shed off 70%, and can easily do more. The forces are still with in play. Stay sober Nothing ventured, nothing gained. However, I will keep a very keen eye on my choices and exit at the slightest sign of trouble. A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Member Joined: 5/27/2016 Posts: 274 Location: Pub
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Where is @Obiero You must have had a good February & March. Now its time for the bitcoin maximalists to begin waking up from their cocoons so that they can begin urinating on all the bitcoin threads in Wazua. I work so I can afford the amount of alcohol required to continue going to work
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Rank: Elder Joined: 6/23/2009 Posts: 14,248 Location: nairobi
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Ryko wrote:Where is @Obiero
You must have had a good February & March. Now its time for the bitcoin maximalists to begin waking up from their cocoons so that they can begin urinating on all the bitcoin threads in Wazua. Hehe. Im here @ryko.. Whats new?
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Rank: Member Joined: 3/26/2012 Posts: 830
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S.Mutaga III wrote:I have been studying the cryptocurrency market for a few months. During this time, I have witnessed over half a trillion dollars worth of capital erosion. It has been a bad bloodbath for speculators during the period. However, I have reason to believe that there are still scarce opportunities to make money in that market. I am a fundamentalist, but fundamental analysis is technically impossible in the cryptocurrency market because most of them are just projects on paper. Bearing in mind that I am not well versed with technical analysis either, I have decided to risk a paltry Ksh 300,000 ($3000) to speculate in the turbulent market.
Venture: To Speculate in Digital Assets
Capital: $3,000 that I can afford to lose
Strategy: Trend following.
Goal: To make a modest return in a bear market.
Explaining the strategy
Buying:-I will actively search for coins and tokens that demonstrate an upward trend in both price and volume over thirty days.
Selling:- I will sell any coin that does the reverse but instead of waiting for thirty days, I will use fifteen days to stem any losses incurred.
Number of coins/tokens:- For diversification purposes, I will only speculate in 3 or 4 coins/tokens at any given time. The capital will be shared proportionally between the coins/tokens. Portfolio rebalancing will be carried out every time I cash out of a coin.
Speculative Activity 1
a) Binance Coin (BNB)
Current price: $11.88 USD
Amount invested: $1000
Price trend: Gained 55% in the last 30 days
Volume trend: Volume has been increasing steadily in the last 30 days. Often trades more than 5% of its total market capitalization every 24 hrs. There is an upcoming coin burn in April which might prop the price upwards.
b) Verge (XVG)
Current price: $0.070173
Amount invested: $1000
Price trend: Gained 97% in the last 30 days
Volume trend: The coin has been experiencing volumes of above 10% of its total market capitalization in 24 hrs and the volume is on an upward trajectory too.
c) IOSToken (IOST)
Current price: $0.0303
Amount invested: $1000
Price trend: Gained 72% in the last 30 days
Volume trend: Volume has been increasing steadily too. Over 30% of total market capitalization has been traded in 24 hr periods in the last few days.
NB: My investment horizon is undefined. This is not investment advice and is for experimental purposes only. I risked $3000 because I am also prepared to lose it all in the murky waters of cryptocurrency speculation.Fortune favors the bold. Also, as a disclaimer, I have zero knowledge in trading/speculating in digital assets.
#Happy Hunting#
Activity 2: Sale of BNB at $13.15 Profit from activity 2 = 10% or roughly $100. Activity 3: Bought Substratum at $0.06 using $1100 obtained from activity 2. Reason for the sale: BNB was experiencing major resistance at prices above $13. Upon checking, it has tested the region thrice in the last month without breaking out. Substratum met the criteria explained in my first post so I bought it i.e rising price and increasing volumes to back it up. CURRENT PORTFOLIO STATUS1. Substratum:- $1,100 2. XVG: - $1,275 XVG has risen 27.59% since I bought it. 3. IOST: - $1,265 IOST has risen 26.59 since I bought it. 1100+1275+1265= $3,640 Total profitability = 21% gains in 6 days. Happy Hunting A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Veteran Joined: 4/4/2016 Posts: 2,017 Location: Kitale
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S.Mutaga III wrote:I have been studying the cryptocurrency market for a few months. During this time, I have witnessed over half a trillion dollars worth of capital erosion. It has been a bad bloodbath for speculators during the period. However, I have reason to believe that there are still scarce opportunities to make money in that market. I am a fundamentalist, but fundamental analysis is technically impossible in the cryptocurrency market because most of them are just projects on paper. Bearing in mind that I am not well versed with technical analysis either, I have decided to risk a paltry Ksh 300,000 ($3000) to speculate in the turbulent market.
Venture: To Speculate in Digital Assets
Capital: $3,000 that I can afford to lose
Strategy: Trend following.
Goal: To make a modest return in a bear market.
Explaining the strategy
Buying:-I will actively search for coins and tokens that demonstrate an upward trend in both price and volume over thirty days.
Selling:- I will sell any coin that does the reverse but instead of waiting for thirty days, I will use fifteen days to stem any losses incurred.
Number of coins/tokens:- For diversification purposes, I will only speculate in 3 or 4 coins/tokens at any given time. The capital will be shared proportionally between the coins/tokens. Portfolio rebalancing will be carried out every time I cash out of a coin.
Speculative Activity 1
a) Binance Coin (BNB)
Current price: $11.88 USD
Amount invested: $1000
Price trend: Gained 55% in the last 30 days
Volume trend: Volume has been increasing steadily in the last 30 days. Often trades more than 5% of its total market capitalization every 24 hrs. There is an upcoming coin burn in April which might prop the price upwards.
b) Verge (XVG)
Current price: $0.070173
Amount invested: $1000
Price trend: Gained 97% in the last 30 days
Volume trend: The coin has been experiencing volumes of above 10% of its total market capitalization in 24 hrs and the volume is on an upward trajectory too.
c) IOSToken (IOST)
Current price: $0.0303
Amount invested: $1000
Price trend: Gained 72% in the last 30 days
Volume trend: Volume has been increasing steadily too. Over 30% of total market capitalization has been traded in 24 hr periods in the last few days.
NB: My investment horizon is undefined. This is not investment advice and is for experimental purposes only. I risked $3000 because I am also prepared to lose it all in the murky waters of cryptocurrency speculation.Fortune favors the bold. Also, as a disclaimer, I have zero knowledge in trading/speculating in digital assets.
#Happy Hunting#
Central bank warned kenyans about this scam.Its more of a pyramid scheme. And of all wazuans i couldnt imagine you in this thing. Towards the goal of financial freedom
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Rank: Elder Joined: 6/23/2009 Posts: 14,248 Location: nairobi
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Ebenyo wrote:S.Mutaga III wrote:I have been studying the cryptocurrency market for a few months. During this time, I have witnessed over half a trillion dollars worth of capital erosion. It has been a bad bloodbath for speculators during the period. However, I have reason to believe that there are still scarce opportunities to make money in that market. I am a fundamentalist, but fundamental analysis is technically impossible in the cryptocurrency market because most of them are just projects on paper. Bearing in mind that I am not well versed with technical analysis either, I have decided to risk a paltry Ksh 300,000 ($3000) to speculate in the turbulent market.
Venture: To Speculate in Digital Assets
Capital: $3,000 that I can afford to lose
Strategy: Trend following.
Goal: To make a modest return in a bear market.
Explaining the strategy
Buying:-I will actively search for coins and tokens that demonstrate an upward trend in both price and volume over thirty days.
Selling:- I will sell any coin that does the reverse but instead of waiting for thirty days, I will use fifteen days to stem any losses incurred.
Number of coins/tokens:- For diversification purposes, I will only speculate in 3 or 4 coins/tokens at any given time. The capital will be shared proportionally between the coins/tokens. Portfolio rebalancing will be carried out every time I cash out of a coin.
Speculative Activity 1
a) Binance Coin (BNB)
Current price: $11.88 USD
Amount invested: $1000
Price trend: Gained 55% in the last 30 days
Volume trend: Volume has been increasing steadily in the last 30 days. Often trades more than 5% of its total market capitalization every 24 hrs. There is an upcoming coin burn in April which might prop the price upwards.
b) Verge (XVG)
Current price: $0.070173
Amount invested: $1000
Price trend: Gained 97% in the last 30 days
Volume trend: The coin has been experiencing volumes of above 10% of its total market capitalization in 24 hrs and the volume is on an upward trajectory too.
c) IOSToken (IOST)
Current price: $0.0303
Amount invested: $1000
Price trend: Gained 72% in the last 30 days
Volume trend: Volume has been increasing steadily too. Over 30% of total market capitalization has been traded in 24 hr periods in the last few days.
NB: My investment horizon is undefined. This is not investment advice and is for experimental purposes only. I risked $3000 because I am also prepared to lose it all in the murky waters of cryptocurrency speculation.Fortune favors the bold. Also, as a disclaimer, I have zero knowledge in trading/speculating in digital assets.
#Happy Hunting#
Central bank warned kenyans about this scam.Its more of a pyramid scheme. And of all wazuans i couldnt imagine you in this thing. Neither did I think such a high calibre trader would venture into the murky crypto waters
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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obiero wrote:Ebenyo wrote:Central bank warned kenyans about this scam.Its more of a pyramid scheme.
And of all wazuans i couldnt imagine you in this thing. Neither did I think such a high calibre trader would venture into the murky crypto waters Reminds me when they also called MPesa fraud and took it to court. Currently at 325 billion dollars, I'm guessing you'd have the world listen to CBK? ICT Secretary Mucheru?
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