I'm trying really hard to obtain a Shiny Magikarp

So far this is what I have been doing:

Breeding: Japanese Ditto with a Female Magikarp (Luxury Ball)

I know the Masuda Method will raise my chances, just have a few questions.

-Does the fact that my Breeding Magikarp was caught in a Luxury Ball cut cancel my chances of a shiny?

-Am I doing it all right? Anything else I could do to raise my chances?

So far I am around 70 hatches in, no luck. I only have 4 badges.