$850 USD to $10000 USD Trading and Investing in NEO Journal – Week 4 – 09/04 to 09/10
GENERAL STRATEGY
- Buy $850 worth of NEO using Bitcoins.
Bought 18.15 Neos on 08/14/2017 at price of ~$47/NEO. - Do not invest additional BTC or USD into NEO.
- Position trade NEO using Bitcoins to collect additional coins.
*UPDATE TO STRATEGY(08/27/2017): Additional 0.5 Bitcoins are set aside to buy NEO for position trading. No additional BTCs will be used. - Trade on Bittrex exchange.
- Wait for NEO price to keep rising!
CHART NOTES
Yellow number markings: 
indicate how much NEO coins were gained from trading. This number could either be next to a sell order gained from one trading pair, or displayed during a period where more than one trading positions (multiple buy and sells) were taken. A blue arrow will show the trading period group.
Green number markings:
indicate BTC value sold to buy NEO (negative number next to buy indicator) or BTC value regained from selling NEO (positive number next to sell indicator). In the end, this should add up to be -0.20 which is my original BTC invested to buy NEO.
THOUGHTS ON NEO CHALLENGE
I received some messages in Slack about some concerns whether I’m going to complete this challenge because of the “crisis” that have unfolded in China which caused a 40-50% drop in Neo’s value. It has also been mentioned that after almost a month, the NEO portfolio is still in the negative and value continues to drop. Here are my thoughts on this.
C'mon, I'm sure you guessed it; I WILL REFUSE to QUIT this challenge. No matter how long it takes for me to finally get in the profit, I will continue. This is the reason I did not put a deadline on this because we just don’t know how the coin will perform. That would be speculating. All I can do is continue trading using Luc’s strategy and wait for the glorified moment when the work and strategy will show its payoff.
Right now, I only see myself leaving this challenge if a) the team or project gets completely abandoned or b) the coin plans to get delisted from the exchange. You must understand, when one plans to make any investment into a crypto coin (short term or long term), there is a very high likelihood the crypto investor/trader will experience some big drops. It's all in how you handle the ride. How many times have Bitcoin and Ethereum gone through these big swings during it’s infancy? The ones who’ve bailed out and sold during the rough times, have both lost on their original investments and on POTENTIAL BIG GAINS because they could not handle the ride.
The point is because Neo has been down 40-50% since I bought, it doesn’t mean I cannot capitalize on this downswing. This is the BEAUTIFUL thing about using Luc’s position trading strategy. His method will help minimize current losses on your portfolio but more importantly once the coin starts gaining traction and a big one, the payoff will be HUGE. Eventually the moment will come and this work will prove the payoff. But we will have to wait for now and SUFFER these wild rides. Have CURREN$Y FAITH!
*IMAGE ABOVE COURTESY OF DAVE RAMSEY YOUTUBE CHANNEL ON HIS ADVICE FOR NOT INVESTING IN CRYPTOS
09/04/2017 – NEO TAKES ANOTHER DIVE
We might have thought things have settled after the big panic from NEO, but the coin took another sharp drop of 35% on 09/04. I was already in a 0.10 BTC position leading into the week, so another buy of 0.15 BTCs was added to this from the drop. After a couple of hours proceeding the drop, I decided to sell all opening positions of total 0.25 BTCs on the next bounce at 573k satoshis.
HOW MUCH NEO HAVE I GAINED THROUGHOUT THE PANIC?
During trading time period between 08/29 – 09/04 (Chinese ICO banning news period), the portolio added another 6.38 Neos across all trades. A total of four buys were placed at 0.15 BTCs for each buy. Refer to Coinigy chart above for all detailed trades.
The NEO portfolio has a total of 26.45 Neos invested, 45% increase since the start of the challenge.
09/05 – 09/10: NEO TRADING SLOWS DOWN, NEW BASE DRAWN
Neo trading has steadied at a price of 500k-550k satoshi during past couple of days. A base has been drawn at 400k satoshi where alerts are set for any panic drops below that base. We will stick with the strategy of buying 0.15 BTC worth of NEOs on each panic drop.
PREVIOUS BLOG ENTRIES
WEEK 1 - https://steemit.com/investing/@oneluckyflip/usd850-usd-to-usd10000-usd-trading-and-investing-in-neo-journal-days-0-4
WEEK 2 - https://steemit.com/investing/@oneluckyflip/usd850-usd-to-usd10000-usd-trading-and-investing-in-neo-journal-week-2-08-19-to-08-27
WEEK 3 - https://steemit.com/investing/@oneluckyflip/usd850-usd-to-usd10000-usd-trading-and-investing-in-neo-journal-week-3-08-28-to-09-03
DISCLAIMER AND CREDITS
Nothing here is meant as financial advice. This is just a strategy that I'm using as a cryptocurrency day trader. Please seek a duly licensed professional for any financial advice. Never forget, cryptocurrency trading is extremely risky and never invest more than you can afford to lose!
Position trading strategy used in this challenge can be learned by visiting Luc’s blog at: https://steemit.com/@quickfingersluc
Thanks for visiting my blog and happy trading everyone. Let me know what you think in the comments section below.
This is one lucky pick, not a strategy and certainly not investing..
Yeah, he's so lucky to pick the only bear coin in a bull market. Maybe source your trading strat to luc so others can see what it's founded on @oneluckyflip
@bitsky I have his blog linked at the bottom of the post. Since I refer to his trading ideas often, I'll move the reference up to the top on next blog.
@donaldcrypto Nice pun but hasn't been lucky yet! You may be right on 'not investing'. Except for the first buy, I'm not really investing anymore but trading and holding onto all Neo coins I made.
This could be a good strategy, could be a bad strategy, but still a strategy. Let's see what the results turn out (maybe a while at this rate, I'm down over $200 in equivalent USD worth)
I've been following along with this the past couple of weeks and really like what you are going for here. I too started with Luc's trading strategies and have been able to double my small investment over the past few months. I have set aside a part of my portfolio for only position trading NEO using Luc's strategy to see where I can end up.
Some notes on the general drop in NEO price and it's trading activity. NEO is China's own blockchain, it's version of ethereum, and is heavily traded in both China and surrounding areas. As such, NEO already abides by the regulations that China is thinking about placing on cryptos later in the month. This could help bolster the coin, since it is the only coin that meets this regulations right now and will have a clean record when it start's listing ICO's if China puts in place these new regulations to monitor them. Secondly, China is currently in what is known as the "Ghost Month," from Aug. 22 to Sept. 19, where it is traditionally bad luck in many asian cultures to invest in anything, whether cryptos, stocks, or a new car. As such, trading on a global scale is down drastically, although that is not seen on the western exchanges we use. I'm currently waiting and expected the NEO charts to become a lot more interesting over the coming weeks to see if it's really worth it's salt.
@onecointwocoin Good to hear on your account profit! And thanks for sharing some facts about China and Neo; I had no idea about Ghost Month which would be interesting to see what happens at the end in late September.
Please let me in the group chat!