#ThousandtoMillion – SASS
I am reading this hashtag more and more and wanted to dig a little deeper into it. I have been (twitter) friends with Sass for years.
Yes, more than 3 years, time flies when you're having fun ! ! ! Well, it flies as fast when you're NOT having fun, don't get fooled. So she is one of the OG's in the scene.
We met in the XRPZoo, a group of wild people, very diverse, talking crypto, living crypto, breathing crypto. Most of us have been in this space for 2,5 / 3 years and we have see the industry change. They zoo has their own YouTube Channel setup by @1000bonesXrp, @JamesMalpass12 and @1KickboyTriple
No mass adoption yet, but more and more people entering the market. I see daily new Twitter followers, one way to measure “new blood” coming into the industry. Analysts like @im_goomba, @AltcoinPsycho, @nebraskangooner, @scottmelker, @360_trader, @LisaNEdwards, to name a few, are followed by a lot of people, to read about the industry, getting the best advice and this of course brings us to this blog. Like the title it is best said through a hashtag:
1,000 dollars turning into 1,000,000 dollars; the dollar can be Australian or American or it can be British Pounds, Euro, any denomination.
I have see many tweets by Lisa Edwards, shout out to the lady @LisaNEdwards, which to my knowledge introduced this. I have read a lot of message by the following 2 accounts: @BoydOakes and @rippleitinNZ, both OG's in the crypto market.
So, what about this 1,000 to 1,000,000 challenge, what is so interesting about it ? ? ? Let's first know who we are dealing with though, who is SASS ! ! !
XRPTwin:
Hi Sass, hope you are doing fine; can you share some things about yourself, so people have a view of you ? ? ?
Sass:
Hi, my name is Sarah but you can call me Sass .....
I'm a qualified hairdresser of over 20 years ( I have also had many other various jobs including working in mining, recruitment and the retail sector), and now I am a full time mum to a spirited 3 year old. I spend most of my time looking after him, but on my down time I've found a keen interest in crypto trading thanks to the Thousand to Million challenge. I am keen to share my experience and hope to inspire others to give it a go.
XRPTwin: eh .....Mining, that is some serious stuff lady ! ! !
XRPTwin:
It seems Australia and New Zealand are well represented in this list, you being from the same region. Can you say something about yourself and why the interest of this continent ? ? ?
Sass:
While I can't speak on the behalf of the continent, I can certainly say that the Australian culture is that of a “give it a go” and “she'll be right” one. We are not afraid to try new things, and see how far we can get with them.
The Australian government has been a big supporter of tech innovation, providing enough clarity to support businesses alike in using or testing blockchain technology. We have recently seen a world first of Quant and its Overledger technology pair up with AUcloud for use by our defense force and other departments, as well as developments to tokenise gold and other precious metals on the Ethereum blockchain.
In another first, we are able to invest micro-payments into a share portfolio which contains about 5% of the portfolio put into Bitcoin.
It's a very exciting time to be a part of digital asset culture as we move forward to develop interoperability worldwide. This is just a small step in a much bigger global picture.
XRPTwin:
You have been in crypto for a while now, what made you decide to go for this challenge ? ? ?
Sass:
It has been a while! I entered the world of crypto in September 2018, creating my first account with an exchange, making my first ever crypto purchase (XRP baby!) and joining Twitter (at the time for the company announcements, but will stay for the memes and the beautiful friends I've made) all in the same day! I first heard about the Thousand to Million challenge through some posts by friends on Twitter – thank you @BoydOakes, @LisaNEdwards and @rippleitinNZ – I will be forever grateful for the journey that you have set me on.
XRPTwin:
Just before going into the challenge, I also read a lot of negativity from people that do not think it is possible whatsoever, why is that do you think ? ? ?
Sass:
I think it comes down to mindset and perspective. I have always been the kind of person to be happy to try something if it calls to me and if it feels right. I try to view new endeavours as experiments so “failures” are more like “lessons learnt”.
There are definitely times where I get annoyed by lack of progress or hitting a hurdle just like anyone else, but I figured, why not? Let's give it a go and see how it pans out. I have nothing to lose in trying.
XRPTwin:
So 1,000 dollars, that is the start, what is needed, what are the rules and what is the time frame ? ? ?
Sass:
I didn't start with $1,000. I started with what I could spare at the time which was around $AUD200 or $USD150 ($153.55 US to be exact hahaha). More than making the money, I want to learn a new skill that will help set me up to better provide for my family. I want it to make me more self-sufficient. I will be able to get to that $1,000 as I learn more and build my confidence as the stakes are raised and my capital grows.
XRPTwin:
3% compounding per day, is that the ideal strategy ? ? ?
Sass:
Initially, I was trying to do that but honestly, I was stressing myself out in trying to trade every day. I have my 3 year old son with me during the week (I'm a solo parent) and finding the time and focus has been difficult. I have tried and made several failed attempts (more lessons there!) during my first week of this challenge. But with every lesson, I am improving my skills as a trader and I am learning how to improve timing... my entry and exit from trades, chart interpretation and also where my weaknesses are personally – which has been both a surprise to me in some ways but also very enlightening.
Let's break in for a moment. Asking about the 1000toamillion challenge is fair, but the lady who invented this, should also be asked,
SO I DID ! ! !
Lisa has been featured before in one of my blogs, so if you want to read more about her, click here
I asked her a couple questions also, and here are HER answers:
Thank you Lisa, now back to the main character of this Blog: Sass
XRPTwin:
What amount of time a day do you put into this challenge ? ? ?
Sass:
I'd say an average of 1 or 2 hours a day because I cram over a couple of days on my downtime from full time parenting.
XRPTwin:
What is the hard part of the challenge ? ? ?
Sass:
FOMO! Hahahaha. Also, lack of time, self discipline and knowledge. I have learnt that I am an emotional trader. Mostly, I believe, because of my reasons for wanting to make my target of 1 million dollars. That need to execute every trade perfectly for the sake of providing for my family can sometimes cause me to be hasty in my decision making. I have been putting a lot of pressure on myself to be perfect. I think after several dud trades this week, I am now acting with more caution... planning my entry and exit much better, and no more trading during the days when I have little one (I do not advise trying to trade with a 3 year old on your knee).
XRPTwin:
So how has it been going, are you on target, have you been in the situation where you were behind target ? ? ?
Sass:
Sadly, I am not on target. I have done a total of 31 trades... 2 are still open, and 16 trades have closed with an average of a 2% loss. (Most of the losses were made because I was trying to trade with my son climbing all over me or getting into something so maybe I shouldn't count them, but I do because I'm a perfectionist.) If I look at having completed 29 trades, my portfolio should be at $361.07. I am, however, still up in my portfolio by 23.94% which I think is amazing progress for a beginner.
I came into this challenge with zero trading experience. My gut has always told me that this could be something I'd be good at and I do find trading very interesting. On the occasions where my trades haven't gone as expected, I have been using that lesson to take with me into the next trade. I have also spent a little time trying to learn some basic trading skills so that I can improve on every trade. I'm feeling much more confident after my first week.
XRPTwin:
Who is helping you along the way, the people mentioned before or .... ? ? ?
Sass:
I have had a lot of community support and have already named a few people, but I feel there are still too many to name! Also, I don't want to play favourites, because the people supporting me are all my favourites!
Actually, let me rephrase that, I do want to mention a couple names as they have helped me tremendously:
I wanted to say that @360_trader has also been a source of inspiration to get better with every trade, and on a more personal level, my amazing @CyPhlux for always being so patient with me, even when I've had a bad day or want to talk about trade strategy.
It just doesn't feel right to leave them out!
It's blown me away with how supportive and generous people have been to encourage me and help me improve. They have either shared charts with me, sent me information on patterns and strategies, even the people who have left me kind messages via DM or in response to a tweet. I notice all of that and it really has left me feeling very loved and supported. I believe that we lift ourselves up by lifting up others first. Sharing ideas and supporting each other helps us all win. I also want us all to win, and will support anyone doing this challenge in any tiny way that I can.
XRPTwin:
4 words:
Technical Analysis / Fundamental Analysis
Do you use these, do they scare you, do you master these ? ? ?
Sass:
I'm still learning how to use both of these to my advantage. I would probably favour Technical Analysis over the two though because the space is growing so quickly and there will be developments and challenges that may impact how a project is tracking in the shorter term. But I do think there's a place for both.
XRPTwin:
If other people want to go for the challenge, what do they need to do ? ? ?
Sass:
- Go to thousandtomillions.tumblr.com/ for starting info;
- Download the spreadsheet that @rippleitinNZ has linked in his bio.
- Set up a Binance account to start trading
- Use trading pairs with a stablecoin so that if you've finished a trade, your returns don't fluctuate in value
- Do your research, take your time, be open minded and persistent. Don't be too hard on yourself if you're just starting out. It always takes time learning a new skill. and learn from my mistakes so you don't have to make them – no FOMO 🤣 Follow the rules with a tight stop loss and trust your gut – if the trade doesn't feel right, don't be afraid to get out early. a 1% loss is better than a 3% loss. If this is happening too much (like it has done with me) then it's probably a sign that you need to learn some more and do your trades on paper first until you build your confidence.
XRPTwin:
Anything you would like to add ? ? ?
Sass:
To anyone starting out in the Thousand to Million challenge:
This is YOUR journey. If you find that shorter term trades don't suit your lifestyle, you can't trade every day, or you don't want to use 100% of your capital in one trade, you don't have to. Use this challenge to your advantage – use it to help you learn and grow, not just with your trading skills (and making money), but on a more personal level too.
Thank you @XRPTwin – for all the support you have given, not only to me over the years but to the community. I've been following you for pretty much as long as I've been on Twitter and have seen time and time again how kind and selfless you are in trying to help, promote and look after the people who call this community home.
Happy trading everyone, you've got this! 😊✌
WOW, nice words, thank you Sass, really nice of you. I have been in this realm since 2017 and always thought I want to be active. Active can be a lot of things, but at least XRPTwin, the name has been around, love being interactive – thank you lady ! ! !
STAY SAFE ! ! !