I’ve been tracking my various wallets on a spreadsheet and I realised.. this isn’t safe if I get malware or a virus installed on my computer and then I’m ruined. So I’ve preordered a Ledger Nano S, which is highly recommended amongst Crypto users at this point in time. However its a 3 MONTH WAIT before my order is shipped. It’s that popular right now! argh.
Learn as much as you can before buying
The past week or so has been madness. every night I’ve been soaking up as much knowledge about crypto as possible. Trying to cut through the hype. In summary this is what I have done or learned.
- signed up on hacked.com for their insightful analyses of ICOs and their recommendations. Yes, I am paying for their gold membership as well. You get access to their private workspaces group chat.
- Looking and researching into upcoming ICOs by
- Joining all their social media including slack and telegram. Often developers are on slack directly so you can ask questions
- Reading their whitepapers
- ICOs I have joined and investigating: EOS.io , Reddcoin,
- Bought as much ETH as I could. Sold some
- Tried to buy into Bancor ICO but miserably failed.
- More reading more articles
- Got approved on steemit. Took about a week to get the account approved. They must be getting smashed with requests.
- Sold some crappy short term positions at a loss.
- Deposited more bitcoin into my bittrex.
- Discovered one of the telegram crypto call groups is an intricate scam to buy a fake ICO. They would post legit crypto signals and then subtly advise to buy into an ICO with low buyin (Arberncoin scam). Shocking.
The more I read the more I am leaning towards LONG TERM HOLDS for everything I buy. I will probably do 90% long term and 10% day trade with my funds right now.
Todays status (after the current ETH dip):
- Deposited 0.638 BTC. Current value 0.65 BTC . About $31USD profit.
- Save more so I can buy more ETH on Bittrex. I will keep putting money into there for long term holds.
- Start a poloniex account which will be my daytrade account. I’m going to start with about $300USD and see how far I can go from there. I won’t be depositing more money into this account.
First Profit trade!
Well I stuck with Crypto Trade Signals FB group suggestions (despite all the spam sifting) and bought some DGB and XRP coins on BITTREX. It was actually really easy to use.
DGB – when i checked the candlestick chart, the graph pricing was going down and the order quantity was getting smaller. From the BHW crypto thread this means its about to go up, so I bought at 1649 satoshis. I set a 9% profit sell at 1799 satoshis and went to bed. When I woke up, it was sold! Magic.
XRP – Luckily when I checked graphs the price point was low and the candles were red red but the length of the sticks were smaller, indicating imminent rise. According to my records I bought some at XRP at 11482 satoshis and set the sell at 11700 satoshis. (1.8% profit) and I got it! Minus the .25% fee that’s 1.5% profit, lol. I must have put a typo. Nethertheless, a win is a win.
Today I have placed some long and short term orders based on the Crypto Trade Signals Telegram group:
STRAT at 409998 and sell at 450000 satoshis (9.75%) I honestly don’t remember why I bought this.
RDD at 121 and sell at 250 satoshis (206%) It was advised RDD will reach 200+
FLDC at 910 and sell at 966 satoshis (6%) It was advised FLDC will pass 1000 sats
BTS at 4463 satoshis and sell at 4820 (8%) It was advised to hold long term
I suppose I am getting greedy for going more than 5%… my thinking is go hard first then go slow later. I might get burnt by this.
Long Term buys
ETC at 658740 sats (I will probably hold this for a few years as Ethereum seems to be solid)
PIVX at 60344 sats (as above)
GNT at 1891 sats (I will probably sell if needed, as I don’t know much about it but was recommended long term as well)
Today my wallet is estimated at 0.35BTC (900USD) I have no more spare Bitcoins so I might next do a crypto update when I sell more.
After purchasing some Bitcoins. I had to choose a platform so that I could do some trading.
According to the Crypto Trade Signals and other facebook groups, Bittrex and Poloniex seem to be most popular. However I will be choosing bittrex for no other reason than to be able to just get started.
How to transfer to Bittrex from LocalBitCoins
- On Bittrex, clicked on Wallets and on the list of cryptocurrencies, clicked on the PLUS (+) sign next to BTC Bitcoin.
- Being my first transaction I clicked “Generate Address”, it took a few seconds and then I coped the very long string.
- On LocalBitCoins (or whereever you have your Bitcoins stored) click on Wallet then send bitcoins.
- Paste the long address and the amount of BTC you want to transfer, MINUS the transfer fee. It auto converts to your local currency to let you know.
I’ve just moved all my BTC (about $700 USD worth).
- The founder of Crypto Trade Signals does daily postings and I’ve joined his telegram group to see what his recommendations are and test out 10% of bankroll at a time per recommendation. This is the easy way and I will allocate $350 to pick and choose various coins. An hour ago he has recommended to buy BAT on bittrex so I’ll put in $50 and see if I can get a few dollars.
- Crypto Coin Trader FB group has a few more people posting what they hold and what they think are low. Good to start with and I’ll try some trades here too.
- Keeping $350 USD to follow the BHW methodology of day trading. look for low and only sell after 5% increase. This is the slow and more safe way. I KNOW NOTHING RIGHT NOW ABOUT HOW TO USE ANY OF THE TOOLS so it’s going to be a long path
- I’ll probably adjust as we go.
I’m going to read a bit more on crypto trading. I’ve joined the following groups on facebook yesterday
Crypto Traders – News and updates about crypto currency, good to get a macro look at what is happening rather than specific advice on day trading, about 200 members.
Crypto Coin Trader – Seems active, lots of posts as well a mix of ads and other things.
Crypto Trading Madness – Run by a man named Shezz Amin and he seems to know his stuff. about 2,200 members (900 new). Recommend this group.
Crypto Trading Signals – A huge group (10k+) however the content quality does not seem to be moderated well. Lots of advertisements rather than quality advice and its hard to sift through it all. many posts are also not in English.
Advanced Crypto Asset Trading – Originally capped at 900 members, the big recent influx of crypto currenty foragers have allowed an increase in members. They try to keep posts moderated and quality. English friendly and lots of active topics. They also have an even more advanced group for actual traders. I certainly don’t qualify yet fo rit.
I’ve applied for a few more and I’ll update this post as I am accepted and find out more.
I will soon get started on a trading platform (Poloniex?) to start with and just get used to the feel of how to trade.
Could have made $1000 if I listened to my past self
This week BitCoin went up like CRAZY. like immensely. A few weeks prior I saw a lot of facebook ads promoting ETHEREUM. Could be classic pump and dump strategy by the FB groups, who knows.
I made an entry in my calendar a few weeks ago to buy approx $1k of bitcoin and you know what. I didn’t do it because I was too lazy to verify my identity. Shit doubled yesterday. (it has since gone down a bit).
DO WHAT YOU PUT IN YOUR CALENDAR . (GETTING THINGS DONE)
What I did today
- I have trawled through Blackhatworld forums in the past few days, jumping on the CRYPTO bandwagon
- I finally got into the world of PURCHASING MY FIRST BITCOIN CURRENCY! hurrah. I used localbitcoins (affiliate link) and within 2 minutes got about $500AUD // $350USD worth of bitcoin. I purchased $150USD worth from wesellcrypto.com and now I have $500USD worth of bitcoin as of today (0.18209612BTC)
The Cryptocurrency Plan v1.0
- Get the freak out of BTC and start investing in what they call ‘alt’ smaller volume coin currencies. People are hinting at PIVX or just looking at patterns of one or two waves and to ride the next wave to purchase at close to bottom and sell at close to top. There is a guy on BHW who is placing everything at one time to look for 5% gains. Seems to be a sound strategy which I will adopt
- Long term BTC, ETH are agreed to be very good investments. However for short term gain it is easier to get multiple returns with smaller microcent investments.
- might be a victim of shiny object syndrome
I might be a victim of shiny object syndrome
I can think of all the crazy ideas I’ve had or followed. I just never stuck with them. My current shopify store was done out of greed rather than passion. I am lazy. The only thing I am consistent at is trying these new things. Maybe that is my passion. LOL
Day 5 will start in 3 days.
My mum has arrived to visit me and I have been her non-stop chauffer for her friends and especially my brother, who gets anxiety to anything. He thinks any form activity could spell out the end of the world for him. It’s so hard to have him open his eyes to the world, but I will keep trying. His mindset seems like a god-fearing peasant from the dark ages. Really it is. Maybe he will never change – the underlying problem is the overarching and caring mum. I was lucky to escape early… He wasn’t. .. He puked after the plane ride here and he’s not going to like the Great Barrier Reef tomorrow. They will be leaving in 3 days.
I am pretty upset. I wrote a long post about what I did and when I hit PUBLISH, I got a 403 ERROR CODE. Elegant themes was no help at all. Permissions, .htaccess and plugins were all ok. ARGH.
I tried to refresh and resubmit data however it kept going 403 until i gave up and just made a new post. #end.
- worked on my existing shop descriptions and lowered pricing to increase sales. Currently getting one order a fortnight. Seriously not enough.
- 1 hr TV
- Do more of the same with the shop. I can’t do any work on the new venture yet.
- Clean house. Fam is coming on weekend.
Day 1. Stumbling
What I did:
- Watched dental marketing videos to become a consult . It looks good but not long a term viability unless I keep on top of facebook advertising.. it would be a 1-2 year plan. However that’s all I need… it will be considered as a possible next project.
- Watched a dropshipping scaling video about google ads vs fb ads. The presenter thinks Google ad retargeting would get you better results than Facebook dynamic retargeting
- Was on the phone with google. They tried to increase my spend on my dropshipping store, but I didn’t. I learned about ad extensions. They look like a useful thing to add to .. an ad.
- I installed WP on a website in the hope I can improve my boss’ website. It’s not the best SEO wise.
Wasted time today
- Played Clash Royale on my mobile, maybe a good 2 hours
- Spent an hour driving to the gym and back. Wasted as the gym was closed (public holiday). I may need to change to those 24 hour gyms again.
What I need to do tomorrow
- Limit clash royale game time tomorrow to only aiming for crowns and only when I’m idle e.g. waiting in line. I may only check to donate but not to play.
- I think I will join the local gym again and do HIIT routines.
Day 2. Establishing what my next ecommerce venture could be
What I did today:
- The plan was to read through blackhatworld forums (BHW) to get an idea what I can do next.
- I ended up going back to Shopify+AliExpress based posts on BHW. I think I will just go with the flow instead of learning something entirely new. It’s what I subconsciously want right now.
- My bitforex account was confirmed.
- I can buy $15 worth of blockchain shares a day.
I will need to start this end of the month.I have put in my calendar to look into this end of next week.
- Resigned from gym. I will be joining the local, cheaper gym at months end. It’s in the calendar for day 22.
- Watched some niche discovery videos in regards to aliexpress.
- Pretty much learned that its looking at
- best sellers on amazon and
- high engagement posts on facebook and
- cross-checking with aliexpress for profitability.
- Somebody on BHW recently found his winning product. It took him 2 months / 60 days and he found only 14 competitors using google, AND found it was a trending topic…
- Pretty much learned that its looking at
- Google called me again to try to change my ad spend on my dropshipping site, Showerfy. They didn’t know I already spoke to them yesterday.
- Imported some new items from one of my dropshippers. I’ll update descriptions tomorrow.
Wasted time & Remedies
- Videos that serve no purpose: Literally spent an hour watching “videos” to test out my new 4K monitor. I really should stop doing this. I’m not sure what a good remedy for this is short of castration.
- Games: I played Clash Royale but only when I really wasn’t focusing. What really distracts me I realise (as I am typing this) is that the phone is RIGHT THERE begging to be picked up.
- I will need to setup remote notifications from phone to my PC, and skype with my partner on my computer rather than use my phone. I’ve done some googling and PushBullet might solve my phone away from me dilemma.
- AKA keep phone away from me or
- Put it in one of those fancy time-based boxes or
- By using the Forest app again. I always forget to use Forest. I have now placed Forest next to the Clash Royale app to remind me.
- Or everything above.
- The template: After work, I will make a spreadsheet outlining all the items I come across, rather than haphazardly screenshotting them and record the numbers, so I can remove the emotion out of it.
- Sub-tabs will be on each product and suppliers/competitors…
- from these products I will need to order samples and make product videos.
- I suppose the essence of futureproofing is essential, due to the long shipping times with aliexpress.
- Update product descriptions on my first dropshipping store.
- Watch TV with fiancee (1 hour)
Day 3. Optimising descriptions on existing shop
What I did today:
- Showerfy (my existing Shopify store)
- Added negative keywords for adwords
- Read more about adwords extensions. Looks good and I’ll implement
- Dropshipper contacted me today to partner up. Looks good as my existing dropshipper ran out of a particular product I sold and refunded and these new guys have it. However these do different shipping costs to each state. I will need to update my Shopify store to reflect dynamic postcode shipping costs sometime.
- I did something different. Usually I copy and paste the dropshippers descriptions and maybe spin the words a bit. I have to admit, I suck at it. So I had a genius idea. I went to amazon and looked up best seller products which were similar to my store products. Holy cow the best sellers have great copywriting for the ad descriptions. I just used those instead (with a spin of course) I also added pictures to the description itself. I used to do this on eBay but I never explicity thought to do it until now for Showerfy
- I lowered pricing for popular products. I’d rather a sale than continuously spend money on ads
- 2 hours watching TV with the girl.
- I signed up to the new gym. Apparently I have two weeks left on my old gym (eep) so I better make the most of it.
- Google trended drones, and its only popular in Q4 before christmas. I’ll find that niche.
Wasted time and Improvements
- These past two evenings I have been pretty productive between 11:30PM-2:00AM. then at 2AM my mind kind of drifts away. It could be because its so quiet I have no other distractions (girl is in deep sleep at this time too) will keep this in mind when planning things.
- Clash Royale: I only played at work and a bit at home. I still used it a lot. Especially in bed.
- It’s impossible to be at your best state of productivity in bed.
- The moment I lie in my bed (right behind me) im on the phone doing nothing productive. This was a realisation from the girl, when she found herself on the bed a lot last night.
- Remedy- So we are both trying to encourage (yell) each other to not lie in bed unless its for napping.
- I did not end up doing the template. I will try to do this next week. (its in the calendar)
- I will hopefully get my login for the new supplier and I will start importing products from their shop into my Showerfy.
- Update best selling product descriptions on Showerfy based off equivalent amazon (and eBay) hot sellers
- (if time) update images of said products.
That’s what they all say right. Visualise the end and work backwards. My end goal is financial freedom to make choices in life.
Like every other damn person in this world.
I want to have a property portfolio and get into development. That needs money.
I have turned to the internet to help me get my initial funds. I will be using my job to fund my lifestyle and using my online earnings to save up for a deposit. ($160,000 AUD or $100,000 USD)
It’ll be a combination of short and long term plans.
I tried a few months ago with dropshipping.
- I have made a handful of sales but I am still running at a loss due to high ad spend (pretty sure I chose a dud niche).
- Plus I’ve been slacking off. So here is the blog. It’s more an accountability thing.
Most ideas will be coming from black hat world forums and whatever I can find in the digital marketing world.
The blog is a bit messy but you have to fail forward, right?
Follow me on my journey. I’ll post what I can however most of my time will be working on whatever I am doing. I hope. Anything of special interest will get its own special page.