What started as a crazy project for the heck of it appears to be turning into a legitimate approach. That said, it’s not a “strategy” as such: it’s hedging your bets to such an extent that it’s hard to lose in the long term.
On 11 December 2018, I decided to put 10 Doge into every single coin with a DOGE trading pair on TradeSatoshi.
For each coin:
- I checked the BTC and DOGE charts to pick a low price point.
- I set up a buy order for however many coins I could get for 10 Doge.
- When the buy completes, I set the coin to sell at 2x value, either in the BTC or DOGE market (whichever has higher volume and looks more likely to hit).
- When they sell, I check the charts again and set up a buy order for 20 Doge.
- When the second buy completes, I put half the coins up for sale at 2x value (same as step 3). The other half go up for 200x value, usually on the USDT market (to avoid BTC fluctuation issues).
- When the 2x sell order completes, I put the whole lot back into a buy order.
- When THAT buy completes, I put the whole lot up for sale at 2x value.
- I cycle steps 6 and 7 for as long as the coin keeps going (more or less doubling each time around the loop).
At the time of writing (4 weeks on), I have 279 coins for less than $5 total investment, of which 138 are up for sale at 2x, 9 have cycled and have a 200x sale and 3 of which have cycled 2-3 times at 2x value. Only one coin has been delisted (and I managed to get that out into a wallet in case it reappears somewhere).
I need about 140 coins to double or one to moon and hit at 200x to recoup the full investment (wooo, $5).
Yes, it’s a crazy idea. But it seems to work: I’ve spotted several coins that cycle regularly and will provide excellent trading opportunities for a while (with other capital outside the project).
And hey, it’s fun!