Fall down 7 times stand up 8! How I turned $5,000 into $30,000 with cryptocurrency exchange in about 2 months.
First of all, I would like to say I feel unbelievably lucky to be able to live in this age. I don't have to be a slave to make money in order to survive or even live comfortably.
I have been involved in crypto markets for over 12 months now. First 3-4 months were basically just watching the bitcoin price rise. So it took a while before I bought into #bitcoin at around 800-900$ in December 2016. After buying only 1 bitcoin, it took only 3 days for me to realize that I needed to buy much more because the price was going up fast. So i put all my savings on 6 bitcoins in total at the time, it was worth around 4500-5000$. (all estimates as I cant fully remember the exact numbers.)
For the first month i did not touch my bitcoins at all. However, only leaving them on the side wasn't good enough as the profit was too little. So I started to buy low and sell high. I treated my bitcoins as workers, the more bitcoins I had the more profit i could make daily. In my head, I didn't need too much money so I was thinking If i made 50 dollars a day, it was good enough.
Soon enough, by the end of January, I saw many more opportunities in #altcoins , I was super worried about buying anything because I literally had no idea what an altcoin was. I did not know how to read charts, I did not know anything. So i started with only buying coins that had over 5% increase on a 24 hour scale. I didn't make much profit there tho, most of the time i lost money, as I had no idea what to do.
On January 25th at 21.30, I bought 5 bitcoins worth of Pascal coin at 0.00040000. On 26th of January at 20.30 I had over 100% profit.
It was all luck.
On poloniex, I saw some people writing about pascal and pascal was rising relentlessly, so i said why not and bought all that Pascal coins. I didn't wait for the whole day to sell them but it was more like buy and sell all the time.
I made so much money, I couldnt even believe my own eyes. So i thought to myself, "mate you have got this".
The same day, I was continuously watching the trollbox and was hoping to catch another beautiful rise. I thought I did, I bought into NEXIUM , god damn it nexium I really thought you were going to be my new car's money. However, I was too greedy and lost over 100%. All my dreams were crashed quiet quickly, I bought in other coins as well to make up for it but i just kept on losing money. I didn't know why I was buying but I knew why I was selling, because everything I bought just went down. So I decided I would just leave all my coins in nexium and wait for it to rise back to where I bought in.
It took so much time!!! While all my coins were stuck in nexium, everything else kept on pumping. I missed so many opportunities!! I was determined to hold tho. I kept my nexiums for almost 2 months and sold them at a massive loss because I didn't want to miss any other opportunities. 3 days after I sold, Nexium almost reached my cost price. (Even though I am still in loss with Nexium, I still believe its a beautiful project and coin.)
I was devastated, I could have waited 3 more days and get almost all my money back. But there is a very nice Turkish saying for this "an umbrella that gets in your ass will not open up" meaning you need to let go of the past and learn from mistakes.
For awhile, I just watched the markets and started looking at things on "how to read charts", "what makes a price move up" and so on. I almost gave up...
Around April 10th, I had about $3,500 left in my #poloniex account.
Everything started to turn around when I met a man on Facebook named Ramazan Karaca. He created an info group and said that he wanted to help people make money. He started giving away tips, and people were making huge profits daily. So I bought in a few of his tips, within a few days I made over 2000$ (April 15), you can see the balance image on this link ---> https://file.army/i/xFiWo3
April 30th, I almost doubled my money 9,300$ ; image here ---> https://file.army/i/xFii2f
Ramazan kept on feeding us with amazing tips, but I knew that If i didn't learn how to catch a fish, i would be starving soon enough. So i started to study the coins he told us to buy.
What made those coins special? Most had low market cap and low supply. Studied the Elliot wave theory, studied Japanese candle sticks etc...
I kept on making more money everyday.
May 6th ---> https://file.army/i/xdBhDa
May 7th ---> https://file.army/i/xdBHEV
May 20th ---> https://file.army/i/xd7yU1
May 21st ---> https://file.army/i/xdTn2k
I should have taken profits on the 21st.... From there on, I lost so much again, I was greedy, I had hit my targets but i wanted more and more.
May 27th This day I was so sad I couldn't even leave my couch-->https://file.army/i/xdYY6E
Then I left Norway for vacation, to my roots, Istanbul. For a few weeks I didn't play too much, because I knew it was all gonna hit my targets and on June 18th, with incredible rise on all coins I hit over 30,000$ ...
June 18th I couldn't believe my eyes and my eyes were still greedy. I wanted more. So I bought other coins which I thought would give me a good profit -->https://file.army/i/xd47dU
Till the end of June, I was on vacation, I sold 2 bitcoins to enjoy my time in Turkey, living like kings. By the way during all this time, I paid my rent with my bitcoins and spent over 8,000$.
Then came the warning sign where all coins started to take a downtrend.
July 3rd the first sign I realized of a warning for me to sell --> https://file.army/i/xdzMF3
I did not sell!
July 11th I was hitting my head, telling myself "you dumb ass! ruined everything" --> https://file.army/i/xd4BuE
I did not sell!
-------------------
July 17th then I sold half of my portfolio=( I sold at around $8000 worth of my coins because my father manupilated me, told me i would lose all my money, told me I was an idiot for not selling at the end of June when I had over 30,000$..
-I knew the prices would rise again.
-I knew we were at the bottom, so selling there would be a huge mistake.
-I knew my dad knew nothing about cryptocurrency but he had very manipulative way of speaking (anger and threats).
July 20th Bitcoin went from $1800 to $2800......
Today, on July 24th, I have $15,000 on a few exchanges and I spent so much money on clothes, plane tickets, food, alcohol, hotels, petrol etc.... and still have some money left for me to go back to Norway comfortably.
Could I have had much more? Of course! If I sold into fiat at my targets and bought back at when Bitcoin fell to $1800 I probably would have around 60,000$ but then again I would probably quit my master's degree if i could foresee that.
I believe everything happens for a reason. I know that I will buy my next house from cryptocurrency within the next two years or so even if not by then, I am damn sure that I will not give up until I get there.
This is a wonderful market, with not even a 100billion dollar market capitalization...
I learned so many things from this rally..
- Take profits if you believe you have hit your target. (don't be greedy)
- Don't listen to others!
- Do your research! Learn, learn, learn and learn!
- Risk only what you can.
- Be patient.
- Don't overspend your money, save it because you will need it.
***Most importantly, never give up...
Hope my experience can be an inspiration or a lesson for others.