It's now two weeks since I started this experiment. My "initial trading capital" from faucets stands at 204920 satoshis. And I've made a trading profit after fees are deducted, of 16027 satoshis. Which is a 7.8% profit. Not bad considering that it took some time for the bitcoin faucet money to come through - the first five days of this experiment I was trading with miniscule amounts from altcoin faucets.
My biggest success has been trading Digibytes - despite only trading a small amount, due to the high frequency the trades are executed, the profits come in quickly, and I can then turn it round and reinvest, over and over.
Devcoin has been the poorest - my buy executed, but am still waiting for the sell to execute. It's a waste of time because it ties up trading capital. Once the sell executes, I'll stop trading it. My Mintcoin buy order is still waiting to execute - am going to wait it out because the potential profit from the 1 sat move outweighs tying up the money.
Finally, it takes money to make money, so I shall be hitting the faucets again hard, to get some additional capital to trade. Hopefully compound interest (from reinvesting the gains) and trading the initial capital over and over, will do the rest.
Trading experiment - Day 21
My biggest success has been trading Digibytes - despite only trading a small amount, due to the high frequency the trades are executed, the profits come in quickly, and I can then turn it round and reinvest, over and over.
Devcoin has been the poorest - my buy executed, but am still waiting for the sell to execute. It's a waste of time because it ties up trading capital. Once the sell executes, I'll stop trading it. My Mintcoin buy order is still waiting to execute - am going to wait it out because the potential profit from the 1 sat move outweighs tying up the money.
Finally, it takes money to make money, so I shall be hitting the faucets again hard, to get some additional capital to trade. Hopefully compound interest (from reinvesting the gains) and trading the initial capital over and over, will do the rest.
Trading experiment - Day 21