I thought I would briefly share my current portfolio, predictions, and my trading strategy with you all!Everything is in Austrian dollars btw
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My predictions have been calculated through a combination of trend analysis, basic game theory on how the individual coins popularity will effect its market cap (and therefore price), and comparing the price action of the coin directly to technology companies (as I believe the two markets are similar). Obviously a year is a very long time, a lot can happen which I can not predict for and so I may be wrong about my predictions.
What is my trading strategy?
My strategy for trading cryptocurrency is identical to how I trade other markets. I find a coin with a good product (take funfair for example) and I buy some and hold. When I see the price of the coin dip, then I buy some more. In addition to this, I will consistently put a percentage of my income into the coin that I am investing in.
So what happens if the coin is just a dud and collapses?
In this case, then I will lose my money invested into the coin, importantly I will not sell at a loss, I would rather lose all of my money than sell at loss. Why? This is because when I invest in anything be it apple, tesla, or crypto. I take a risk, that risk is that I need about 1 in five of my investments to pay of a decent amount and the rest do not matter. To safe guard myself from being affected by significant losses I have a diverse portfolio with my money spread across multiple sectors.
With all this said, I do not just throw my money into anything, I am careful about where I put my money and so far have made significant returns from the majority of my investments in the past.
So when do I sell if I have a seemingly "no sell strategy"
very rarely do I sell all of my position at once, rather I scale out of my positions as they reach what I would consider a peak which will typically lead to a pullback. Typically, I will frequently analyse the price of a share/coin and when it is reaching my predictions then I will begin to scale out. The percentage I take out per high, will depend entirely on the expected volatility of the share/coin.
A example of this was with bitcoin. I purchased bitcoin at the beginning of the year at around $900. When the price reached around $10,000 (AUD) a couple of weeks ago, I decided to begin to sell around 10% of my position at every high. Admittedly, I most likely did sell my position off a little too early, as I am expecting bitcoin to appreciate in value especially if there is another fork. However, I have made a significant amount of money from bitcoin, and so can't complain.
What are your price predictions/ what is you trading strategy? Please feel free to discuss in the comments?
Do you agree/disagree with my predictions?
Would you like to see my posts on investing?
Feel free to donate to my litecoin address: LdwP5i96zgVSkMzZrFcxDgXdMRnhQSkJ7i
nicely done
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resteemend your post like it
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Thankyou so much!!
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Thankyou so much! :D
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nice post keep it up
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nicely done
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wow bitcoin news is always a good one
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Hey man thanks for sharing!, iam looking for a trading strategy but can't decide which one :/
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I guess you should ask yourself:
How much money do I have to invest?
Do I have a regular income?
Do I have a lot of free time (for swing trading)?
How long do I want before I see real returns on my money?
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There are a lot of different trading strategies out there but you have to choose the one that fits you personally.. im sure you'll get there though :)
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Yeah I have a lot of free time but no regular income, because iam a student looking for the long term investment. :D
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Well here is the best tip I can give you, put some money into funfair coin before Q1 2018. During Q1 2018 casinos will be buying a crazy amount of funfair tokens. Just don't more than you are willing to lose in coz you can never be 100% certain.
Are you investing in anything atm?
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Thanks for the advice man, I will do this
i hodl iota, power ledger and cardano (ada) :D
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Seems like a pretty solid portfolio! Iota seems very promising and power ledger will be huge no doubt :)
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Hopefully power ledger works out. It's a really awesome project but hard to realize for global usage atm
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True but it is backed by Richard Branson (the billionaire with an entire island powered by solar power) and western power which is the only company which can sell power in Western Australia (I know this as i live in perth). I have always been big on solar energy the technology has been going crazy recently. Time will tell though :)
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upvoted and like it..
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bitcoin is my favorite coin..i work this bitcoin site..especially thanks for discuss about bitcoin..thanks a lot✌✌✌😍😍😍
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Awesome :D Bitcoin should be going up for a little while longer, especially if that bitcoin diamond fork happens! Although I think when the reserves (NASDAQ) get into bitcoin we will see some crazy volatility :P
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yes you are right my dear. should we invest in bitcoin???
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I would invest in funfair, bitcoin is a bit of a risk. Although, I do expect bitcoin to keep on going up for a while longer... maybe buy a portion of bitcoin now, and then sell just before the fork happens. You would make a bit of money that way, but like I say, there are better coins atm.
Even litecoin is a good option, I mean it's expected value will be around 1/4 that of bitcoin so should be a good hold for the long term :)
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thanks your own opinion...
where are come from???
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I'm from Perth WA Australia
And you?
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i,m from dhaka,bangladeah.
what class are you in??
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What do you mean by class? :P
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australia crecket team heavy strong..☺☺☺
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