Experiment Week 6: What if you kept buying terrible performing coins?
I started an experiment last month, 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 results.
Again I want to note, this is a paper experiment. No actual purchases are being made. The only purpose is to see the results.
A bit later today, but the timestamps were still taken at the same time. Just the data processing being delayed.
|Loss this week||$149.74|
|Profit since start||$1999.74|
|Total to spend this week||$11999.74|
|Profit if I had spent the initial 10k on btc||$2627|
Always impossible to guess what the results will be! I expected some solid profit, but even with a massively green market I made a little loss. And, of course, BTC is still ahead.
During this bull market, 5 out of 10 of the chosen coins made a loss. AUDIO made the biggest loss by quite a bit. In fact, AUDIO almost made the top 10 of this week as well.
On the profit side of it you see none of the profits are large. Even in the reddest week of them all, one of the coins made a profit of over 300.
Despite the bad performance in this green market, based on ranks they seem to have performed on par with most of the market, with the ranks barely moving. This surprises me the most.
So far, the experiment hasn't gone as I had personally expected. But hey, that's why I don't do it for real! I expect my expectations to be wrong.
|Coin Short||Amount bought|
As is usual, mostly unknown coins. Lots of lowcap coins with only two of them over $1 and none even over $4. 4 coins under 3.5 cents, the remaining 4 coins under 27 cents.
The rank spread lies from to 140 – 466, pretty evenly spread. None of the coins really stand out in fame.
Good odds of next week seeing lots of reds, so we'll have to just wait and see what happens.