Crypto Academy Week 7 Homework Post for @stream4u - Money Management & Portfolio Management

Money Management

Source

Everyone definitely needs good money management. Even if you don't invest, you also need to manage your finances as best you can. And you need to make things clearer by recording the amount of income and the amount of expenses in details. You are the one in control of your own money. You also need to allocate your money into several parts, especially for the main needs that you use often.

If you are going to invest, then you have to think about how much money you will invest, what assets you will invest, how much profit you will get, what is the investment process and what are the risks of possible loss. With good knowledge, this will really help you to start investing. And don't let the investment capital that you spend will interfere with your finances.

My Future Plan Money Management

Source

As a future financial plan, I will divide the amount of my income into several important parts for daily needs and the remaining bit will be allocated as personal savings, emergency fund savings and of course for investment capital in cryptocurrency. The capital that I use for investment is of course not large, because I don't have much money and the capital I use is residual money that doesn't interfere with my finances.

Portfolio Management

Source

Before deciding to invest, of course you already know the amount of capital you want to invest. To control them into good investment assets, you need to do research on the assets that you are going to invest in and see the current market developments. You need to carry out these studies to formulate the strategy that you will use. Because you have to choose some of the right assets to get multiple profits.

My Future Plan Portfolio Management

Source

To start investing, I will first determine what cryptocurrency assets I want to invest in. The cryptocurrency assets that I will invest in are, of course, assets that are classified as small capital or penny cryptocurrencies. Both types of cryptocurrencies can provide huge profit opportunities and I can manage large amounts with very little money. And of course I will invest in 4-6 assets to minimize losses.

Failure Investment

Source

This is something all investors don't want. This failure can happen at any time. And you can prevent it as best you can even though many things may be beyond your predictions. To prevent this you need to consider your every action carefully. Your skills in money management and portfolio management are needed in this regard.

For now I have never experienced a failure, because I only traded buy and sell cryptocurrencies for a short period of time and I was always looking at each price chart to decide what buy or sell action I would take. Investing in multiple assets can also reduce the likelihood of such failure occurring.

Conclusion

Source

To be successful in this investment requires a good strategy and reliable technical skills. Your ability in money management and portfolio management is needed in investing. To prevent centralized losses, use the investment capital you have for several investment assets.

CC:
@stream4u
@steemcurator01
@steemcurator02