Things started out as expected. The price of Dogecoin was fluctuating a little but was staying in the same general area. Then this past week things changed. I am going to have to call off the experiment and come up with another idea on how to play this.
Things change Dogecoin changes a lot
Since this is an experiment I get to make and change the rules as I please. The experiment is still going on we are just going to change things up a bit.
While this does break the initial idea of the experiment it is still something that we can use to show different effects in trading and the time value of money.
The problem that I had was in watching the ups and downs of trading Dogecoin rather than just blindly making the purchases. So I decided to put a pause on the purchases while the Dogecoin numbers went crazy.
Time to adjust on the fly
There was a point where Dogecoin hit 47 cents a coin. While that is nice if you had bought thousands of them at 5 cents it kind of throws a kink in the experiment that I had going on. I decided that it would be like if I missed a day getting a lottery ticket. To do this I waited for the price to stabilize a bit then I made my purchase for the days that I missed.
I will try to keep to the rules I set as much as I can. Keep in mind that as with just about any experiment, as you find out more information sometimes the test needs to be adjusted.
For this experiment I have been using Robinhood. It is very easy to use and it is the only financial service I use that will let you buy Dogecoin with no fees.
You can find the running chart of the test progress here. I will update it twice a week when I make my Dogecoin purchase.
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