STEEMIT CRYPTO ACADEMY WEEK 7: WHAT IS MONEY MANAGEMENTAND PORTFOLIO MANAGEMENT AND MY FUTURE PLAN ON MY MONEY AND PORTFOLIO MANAGEMENT BY PROFESSOR @stream4u POST BY @vhenom

INTRODUCTION

Hello guys how are you all doing today hope you all had a good day. Today I will be making my assignment on money management and portofolio management

MONEY MANAGEMENT

Money management is based on knowing how to invest your money in cryptocurrencies. Just because you like a coin doesn't mean you should put all your investment in it. If you have enough money to invest it is not advisable to invest all in one asset. So you buy more than one coin to actually boost your investment.

When you already have the money to invest you divide it into 3 to 6 more parts depending on the money you have. And am sure you must have got eye on some coin in your watchlist. So you buy when you see support to buy for each asset.

After you have invested all your money in about 6 asset or more there is possibility that 1 or 2 of the asset will go the negative direction which ma cause loss on your investment but do not worry as the remaining 4 will definitely grow and cover up for the loss you already made.

MY WATCHLIST

Here is the list of the coin I have been tracking in my watchlist so I invest when I see support to buy.

MY FUTURE PLAN ON MONEY MANAGEMENT

As for me let me share my future plan concerning my money management. From my watchlist I have a couple of coin I have been tracking and I have actually invested in them which gave me a lot of profit. I started with #20,000 last year. I bought CHZ, TWT, DREP AND ZIL coin. These are the cryptocurrency I started with after some months I already made about #100,000 Nigerian currency. So I keep buying more from the coin in my watchlist to my portfolio. I will show my portfolio later when I get to portfolio. So now my plan on my money management is to actually add BTC to my portfolio. To actually invest in BTC itself.

MY PORTFOLIO MANAGEMENT

Portfolio management is the number or collection of asset you have invested in. A portfolio should have about 3 to 6 or more asset depending on the amount you wish to invest.

MY PORTFOLIO

As you can see my portfolio there are over 7 assets in which I have invested on actually all are small investment when I started but turn big over the months. I only started with #20,000 now see my balance just a pump in CHZ, TWT, and ADA crypto brought me to that. But I have sold to buy some other crypto when the coin stop the steady increase.

MY FUTURE PLAN ON MY PORTFOLIO

My future plan on my portfolio is to add BTC to my investment. I want to invest BTC so it will be in my portfolio. Not only BTC though I will still invest in the penny cryptocurrency. I just want to invest in BTC but that will be later when I have made enough money.

WHEN WAS THE LAST INVESTMENT FAILED AND WHY.

As a trader there are times of challenges in which you make losses. It has been a long time though but I recovered. I invested in YFI asset not knowing it is a shit coin. It got my attention by the movement of the chat but after i entered the trade the coin went down and never came up i made lot of loss i wait for some weeks but the the loss continues so i had to stop more loss by closing the trade.

THE YFI chat

CONCLUSION

Thats all about my money management and my portfolio management I hope you are able to learn something from it
CC @steemcurator01
CC @steemcurator02
CC @stream4u