Altcoin DCA Strategy Update, 1/29/24

Here is how my Altcoin strategy has changed over the last several weeks & what I’m doing about it.

I first started this Altcoin experiment on 12/20/23.

I wanted to invest a very small amount of funding into some Altcoins & see if I could make some profit.

It has now been over a month since I started. Let’s take a look at how things have gone since then.

If you would like to learn about all the projects I’m active with & my current strategies then click the link below.

In the start

As stated in the article above, I’m fairly new at this altcoin thing.

Therefore, I needed to take it slowly, only invest a small amount to begin with, & learn along the way. So that’s what I did.

I invested $10 into several altcoins, in several different sectors. Some of them I just invested on a whim & some I invested in because I had heard good things about them.

This is what my Altcoin spreadsheet looked like in the beginning.

What it looks like now…

Since beginning this journey, I’ve had to sell a few tokens, for a loss. I also made a few changes to other tokens in this list.

Here is what it looks like now…

As you can see above, I’ve moved some of my original tokens out & added 1 extra token, Render (RNDR).

Here are my top 5 highest-earning articles from December.

Please check them out as well.

1. EM: New Goals!!! (Part 4)
2. EM: Now is the time to buy!!!
3. EM: New Goals!!! (Part 3) Buying another NFT
4. November Growth Report
5. My Weekly EM Report #15–12/16/23

What happened?

Well, with all things it’s a learning experience.

• Experience changes everything…

I watched those tokens with eager anticipation, sometimes multiple times per day. What happened? Well, I was a bit disappointed but in a good way.

• The price didn’t jump up as expected. It went mostly down!
• Also, some of those tokens have been moved into a different section of my crypto investments, for other purposes.

Some of my altcoin strategy changes were due to token price & some of these changes were due to replies from my previous Altcoin article. A big THANK YOU goes out to all those who read that article & replied to it, especially Freia Skogstad, who helped me with some extra knowledge & strategies. It is great to have a community that you can learn from & become more successful with!

It’s very much appreciated!

Here is how it happened.

1. On 12/24/23, I moved Matic from this list & added it to my DCA list.
2. On 1/2/24, BabyGrok price went down & my total USD value went down to $7.45. So I sold it for a $2.54 loss.
3. On 1/5/24, I added Render (RNDR) to my list with a $10 investment.
4. I also moved FHT out of the list & started DCAing into it regularly. (Be on the lookout for an upcoming article about DCAing into FHT soon.)
5. On 1/19/24, I had to sell my Pancakeswap (CAKE) tokens for a $2.54 loss as well.
6. On 1/23/24, I sold ROUTE for a $2.76 loss & INJ for a $2.53 loss.

Total losses so far = $5.08.

Total potential profit so far = $1.59.

This gives me a Net gain of -$3.49. (Ouch!)

More changes…

Not only did I sell some low-performing tokens but I also started DCAing into some more well-known tokens, like ETH & MATIC.

Why did I do this with these 2 tokens?

Well, Ethereum & Matic are always good to have on hand. I use Matic all the time moving funds back & forth from Coinbase. I have used Ethereum in the past as well.

They are more of a safe long-term bet.

I’m currently DCAing $20 into ETH & $10 into Matic with every paycheck investment, according to my updated Crypto Strategies.

So they will be growing alongside my BTC balance.

• I currently have a new goal of owning at least 0.2 ETH by the end of the year & 260 MATIC by the end of the year.

Now What???

So now what do I do?

Well, there may still be some changes coming down the line in the not-so-distant future.

Here’s what I’ll do in the meantime.

1. Continue to monitor the Altcoins that I have left on my list as usual. I’ll sell if the price gets down to 75% of what I bought in with or up to 175% of my buy-in price. Otherwise, I’ll HODL them.
2. I am considering to start DCAing SOL. SOL is the main token for its blockchain. There are also talks about an ETF for it coming soon, probably after the ETH ETF.
3. I may also consider DCAing into DOGE. Elon Musk looks as though he will incorporate a payment system into Twitter (X.com). He may use Crypto for this new payment system & Dogecoin is his favorite token.
4. In the meantime, I’ll continue to DCA into ETH & Matic accordingly.

Summing it all up

Lots have happened since I started this Altcoin experiment!

Here are the highlights:

• Sold a few coins for a net loss of $3.49.
• Moved MATIC & FHT off the list to start DCAing them.
• Added RNDR to the list with a $10 investment.
• Started DCAing ETH as well.
• Set up end-of-the-year goals for each of my DCA tokens.
• Started considering other tokens for DCA but haven’t started with them…yet.

The main issues that I see with DCAing too many tokens at one time are that my profits will be small with each token instead of larger profits with fewer tokens, having to split my paycheck investment money into smaller chunks to DCA with, & it takes longer to build up a profitable base to draw from.

Till next time.

God Speed!

(NONE OF WHAT I WRITE IN MY ARTICLES IS TO BE TAKEN AS INVESTMENT ADVICE. It is primarily a record of what I am doing & the different strategies I’m using to reach ROI & make a profit in Defi. I am neither an advisor for this nor suggesting any financial action on your part. Invest at your own risk. DO NOT INVEST MORE THAN YOU ARE WILLING TO LOSE! DYOR. NFA.)