Experiment Week 3: What if you kept buying terrible performing coins?
I started an experiment a few weeks ago, where I paper-trade the 10 worst performing coins of the top 500, sell after a week and repeat that process to see how it all goes. These are the third week results.
|Profit this week||$485.28 (on $11367)|
|Profit since start||$1853.85|
|Total to spend this week||$11853.85|
|Profit if I had spent the initial 10k on btc||$2212|
This week had a bad return, less than $500 profit. The big loser, EGG, bringing the total down by over $600. Two weeks of taking returns on badly performing coins has underperformed against the king, BTC.
Three coins fell out of the top 500, with EGG all the way down to 638. Though XLT made profits, it also fell out of the top 500, showing that many other coins performed better.
On to the third week buys, this weeks buys lossed 22% to 35%. One of the nearly chosen candidates just fell out of the top 500 at the time of price-taking, having lost 71% value. The list, from worst to best of the worst. Spending $1185.39 per coin.
|Coin Short||Amount bought|
This week we have a few more known coins, with CHR and CHZ taking the top and SKL seeing some attention too. The coin ranks range from 37 to 465, more widely spread out this time with top 100, 200, 300, 400 and 500 all presented.
I am curious to see what the next week will show us. With CHR and CHZ they could take some serious profits.