Hello there! And welcome to the second part of this new series I'm starting. I created this series to inspire people who are just getting started in their crypto journey, or those who have lost hope. If I can do it, so can you!
I posted the first part of this series about 4 hours ago here, and that post was met with a ton of love and tips. Thank you all.(I have about 800 views on it, which is an extremely high number for me)
If you read the first part, you'd recall that I said I will tell you all how I doubled my account.
Well, this post is all about that process.
I will go into details that I usually don't go into, and by the end of this post, I hope you're inspired to start your own journey.
Sound great? Let's go!
So, after I had gotten my 0.05BTC through all the shenanigans I listed in that post, I discovered Binance in 2017. They were just starting out. I took a look at their powerful trading engine and clean design, and although those were great points for them, it was their lack of KYC requirements that got me sold. I was previously using Bitfinex, although they had been hacked the year before, and I was very scared because I didn't want to get Gox'd.
I had about 0.1ETH I was trading at that time on Bitfinex. I was enjoying risking $200 to make $5(I was so dumb back then) and didn't know what the heck 'altcoin' stood for.
But after I moved my funds to Binance, I realised that the crypto world was bigger than just Bitcoin. In fact, that was how I got to where I was with my current bitcoin value.
I remember vividly copying my wallet address, and pasting it in word and actually cross checking that it was correct, because this was 5 months of hard,strenuous work that I did to get the 0.05BTC for free.(read my previous post if you don't understand this part)
So after I sent over my bitcoin to Binance, that was when everything changed.
I started seeing pairs I had never seen before. LTC/BTC. ETH/BTC. XRP/BTC. All sorts of pairs I never knew existed.
Many of them existed in Bitfinex, but I never went searching for them because I was interested in Ether, and ether alone.
I realised I could do much more than I was doing at the time.
So rather than trading the BTC/USDT pair(which seemed like the obvious choice for someone like me), I started researching altcoin pairs, and how the change in price of one affects the other.
It was at this time that Bitcoin's price plummeted. I was so thankful that I didn't get into the BTC/USDT pair, because I would have bought at the top, thinking it would keep going to the moon.
But obviously, the value of my Bitcoin had gone from $950 to $380, a significant drop.(That's like iPhone XS to iPhone 6 plus, for all you who are iPhone freaks like me).
But that surprisingly didn't bother me at all. I had this inner feeling that I was about to make a lot of money somehow.
I used about 3 weeks to learn all there was to know about altcoins and altcoin pairs. I had to juggle my learning with a lot of electrical engineering practical classes, so I don't need to tell you how difficult that was.
But I got it done somehow.
And I started trading altcoin pairs.
I knew that putting all my eggs in one basket would wreck me big time. So I carefully studied the harmonic chart patterns of 5 various cross crypto pairs, and I found something.
All of them were correlated!
They all moved the same levels up, as well as down. This was insanity!
I then began to realise that there were some that lagged behind others, while some led others.
This was a big discovery for me, because I could literally predict the future with this method.
So I noticed that 2 pairs always led the way, while the remaining 3 followed suit and did what the first 2 pairs did. They lagged behind by about 2 hours, so I knew I had time to act.
I (wisely, in my humble opinion) decided not to trade the two leading pairs, because then I would be risking money. I decided however to trade the lagging pairs based on what the leading pairs were doing.
So if the leading pairs broke out, I instantly spent all my Bitcoin buying into the lagging pairs. And when they broke out, the distance was the same so I knew exactly where to take profits.
I was astounded that this method worked at all. I had only been a technician of the Forex market for about 1 year(1 year, 8 months at this time), and I developed a strategy that worked!
(The funny part is while my mentor in the Forex market was making about $3000 a day, I was only making $30 a day(not that consistently though) even though we used the same leverage. I never really understood how the Forex market worked though, which is why I love crypto so much. Because it's damn near impossible to not understand!)
I continued with this strategy for the remaining 3 months of my experiment period. And I doubled my account that way.
That's not to say I didn't have losses or bad days. I did, but they were minimal and I always got out quick.
I thought of quitting school to do this full time, but I was talked out of it by my parents.
I currently have 1 year left on my engineering program, and after that, I will pursue a master's degree in it. Then, I will finally have all the time I want to trade crypto!
I have been very profitable in trading since then, averaging a YOY return of over 60% every year since 2017. I'm up 240% since then!
I wouldn't call myself a "whale", but I do have substantial holdings in ETH, XRP and XMR.
All because I wanted to get some free crypto.
If I can do it, you can too!
Thanks for reading these posts, and supporting me so much. I really appreciate it.
PS: This is by the way, but there's this one of my posts that's currently on 959 views. I would love it if you all could help me reach 1000 views on the post, because that will be a first for me. See the post here. Thanks in advance.😉