RE: ADSactly on ADSACTLY - Part #40 - Cryptocurrency Trading General Advice
Thanks very much... I add some other advices..
Once you get Bitcoin/Eth/Litecoin, By greed or higher returns you will jump into Altcoins.
Five things you should learn .
1.Portfolio Distribution - use 40–40–20 Rule.
40% in Big Cap (over 2 Billion eth,bit,ltc etc)
40% in Mid Cap (Between 80 Million -2 Billion)
20% in Lower Cap
This will reduce your potential losses if Market goes down.Big Cap move slowly but they Drop Slowly too. On a Bad day your mid cap can drop to 30% small cap to 50% but Big cap will only go down between 15–20%.
2.Take your Profits, Coin which goes up will have a correction, Book your Profits at top.Don’t take 100% out of coin but 30–40%.
3.Don’t Buy on Highs.
4.Don’t be too greedy - Greed is fine but too Greedy can be dangerous.
5.Do your own research - If you believe in a project,stick with it .don’t believe in FUd’s for ex:- Tron ,lot’s of FUD but there Fundamentals remain same .If you believe in those fundamentals stick with it,don’t panic sell.
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I would double-recommend taking profits. Take profits. Period. If you pump 8x, sell 20-30% and get it back into fiat. Then hodl fiat until the next crypto dip.
I've been investing for ten years. No day trading, just your typical stocks, bonds, business ventures, and real estate. It can be daunting -- I actually just sued somebody for failing to honor a promissory note for my investment in his business -- but compared to real-life investing, crypto is insane.
Cover your rear-end and make sure that you come away with something to show for your time. Take profits if you can. You will always get another chance to make more money.