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RE: My Crypto Portfolio August 2017 and Investment Mantras so far.
Great post and it confirms a lot of strategies i was struggling with since i started with crypto. Do you also trade these coins? When for example you know the market will crash so you can potentially buy the dip?
hey there ttudor, me personally i dont day trade.. and no disrepect for the people that do day trade i did try it and it will be the subject of a future blog but for me it was exhausting and stressing. i know i can exploit a marketcrash and sell high and buy allot more when low but for the risk of it shooting up later its not worth it for me.
i did initially have a vision of building a long term investment portfolio and then having another portfolio to do day trades and do shorts after all the world of crypto is so volatile and money can be made on the back of others but i personally didn't want to after learning how to use the graphs and the exchanges. To be good its not just about reading the graphs it is reading the news and constantly studying the exchanges with a massive dash of luck to get in and out at the right time.
I have settled to investing not trading and I have looked at these cryptos as long terms and will sell these when the platform is built and people are using it and the value of the platform comes to fruition.
I personally believe in a dip i never really lose money unless i sell and as i am waiting for the platform to form it doesn't bother me.
I want to use the gas i have generated with NEO to buy my chinese mobile phones or look at smart contract built on NEO i.e agrello lets say.
I may one day sell but i really dont want to be sitting on a bunch of fiat currency in my bank having them invest my money in wars and corruption i would probably hope that when i want to enjoy my money i can change my coins to bitcoin or some other payment currency to buy my stuff online or in a store that accepts bitcoin etc.
i spent all my bitcoin before on amazon vouchers from gyft and using my bitcoin for vpn services and i found it easier than paypal.
Yeah, I also tried day trading, but it's impossible to do it unless it is full time job. I am also looking for the dips, but with good coins which take off 50% in days, they come right back. Example: I bought NXT in the dip and after 1st August it pumped to double my purchase value. Now any day trader would have sold there, I preferred to hold and now it's down 60% from the peak. Anyway, I think your strategy is less mindless time consuming and more investigation into investments, which I really appreciate. Thanks again for sharing it with us.