It's now exactly a month since I started this experiment. My "initial trading capital", obtained from bitcoin faucets stands at 306715 satoshis. I had hoped to get more in the last week, but most of the faucets pay out through microwallet, which seems to have stopped paying in the last two weeks, citing endless problems. It's possible they'll disappear taking the faucet money with them, leaving both the faucet owners and the faucet users stranded. We shall see if I eventually get my hard won satoshis. In the meanwhile I'll have to work with what I've obtained so far.
I have made 57319 satoshis from trading, after trading fees. Which represents an 18.68% return - which is not bad for a month's work!
Some of the trades that I put on weeks ago have finally executed - eg the sell of mintcoins. See screenshot at the bottom of the page - it took ages for the buy order to execute and then ages for the sell to execute. But the profit was 33% - so not bad, even though I only traded a small amount, due to the risk of trading something that low priced (coins that low have a tendency to fall so far down they are demoted to litoshi status). Anyway, have reinvested my profits into another mint trade - lets see what happens.
Another slow moving coin is mazacoin - see screenshot below. I waited seventeen days for it all to play out. Other coins like digibyte are much faster moving - as the screenshot shows, I was able to place several trades in one day. Sadly digibyte is in the midst of a pump at the moment, so I dare not place any more trades because I don't want to be caught out in a dump. I prefer the stable coins that seem to go nowhere moving just a couple of satoshis up and down.
As I keep reinvesting my profits, I hope to compound my returns. It will be slower than I hoped because not sure I'll get more faucet money in the near future - but that's one of the obstacles you run into real life.
I have made 57319 satoshis from trading, after trading fees. Which represents an 18.68% return - which is not bad for a month's work!
Some of the trades that I put on weeks ago have finally executed - eg the sell of mintcoins. See screenshot at the bottom of the page - it took ages for the buy order to execute and then ages for the sell to execute. But the profit was 33% - so not bad, even though I only traded a small amount, due to the risk of trading something that low priced (coins that low have a tendency to fall so far down they are demoted to litoshi status). Anyway, have reinvested my profits into another mint trade - lets see what happens.
Another slow moving coin is mazacoin - see screenshot below. I waited seventeen days for it all to play out. Other coins like digibyte are much faster moving - as the screenshot shows, I was able to place several trades in one day. Sadly digibyte is in the midst of a pump at the moment, so I dare not place any more trades because I don't want to be caught out in a dump. I prefer the stable coins that seem to go nowhere moving just a couple of satoshis up and down.
As I keep reinvesting my profits, I hope to compound my returns. It will be slower than I hoped because not sure I'll get more faucet money in the near future - but that's one of the obstacles you run into real life.