Captain's Log 8/25/17

This is my first public, long-form, unedited log of my thoughts since Xanga in the early 2000's. I'm writing for my own enjoyment and so I can eventually look back and learn from my mistakes, or so I can point to an "I told you so" moment. I'm currently studying programming (JS) and trading (crypto) for the first time - I'm about a week into studying each. I hope to reflect on these two topics weekly, but may also include experiences outside of this scope.

Starting with a symbolic $1,000 bankroll, I strive to 5x my initial investment, minimize emotional decisions, and practice patience and discipline. The following is my breakdown of bankroll:

10% - ICOs
20% - cash
20% - pump & dumps
20% - long holds
30% - position trades

I'll break these categories down in later posts as I activate them. For now, I have approximately $200 (entered at $4500 after fees) in the market/BTC and $800 in cash looking for a good entry point.

After examining both BTC/USD and ETH/USD charts, I've concluded there is a very strong correlation between their price movements. On GDAX, BTC is currently $4300 and ETH is $330. I believe both will continue to $5,000 and $400 respectively, with few buy opportunities until then. I think once they've simultaneously reached those target goals, there'll be at least a 20% pullback for each. I may include how I reached that conclusion at a later time.

Of my available $800, I'm setting $300 to buy BTC at $4020 and $500 to buy ETH at $306. If these both continue a bull run I'll reevaluate a new entry point. I think in the long run it's safe to buy at today's prices, but looking to squeeze a 9% discount isn't too ambitious.

Let's see if I get to enter the market at these entry points by next week.

P.S. I can pretty much only check the market twice a day, 9AM and 6PM EST.