How do manage portfolio efficiently while having a full time job? - page 2.

Vishnu.Reang

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Quote from: bitbunnny on February 13, 2020, 12:32:32 PM

It's very much possible to be successful trader and have a full time steady job.

I can't agree with your statement. If you are a day-trader, then it is really hard to concentrate on anything else. Because you need to track the important developments almost 24x7. And this is impossible if you have a full-time job. If you try to manage both of them, then you will suffer losses in both the sectors. And it can even result in the termination of your employment.

bitbunnny

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Well, if you are not professional trader you don't have to be present on the market 24/7.
Also, it's better to chose long term strategy. Thus you will diminsh the risks and you will not be under pressure all the time every day. Besides chances for higher volume profit are on long term. Also, it's good to diversify portfolio and make more comfortable situation without cinstant pressure. It's very much possible to be successful trader and have a full time steady job.

FlightyPouch

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Quote from: yslyv on January 27, 2020, 02:43:10 PM

Quote from: angrynerd88 on January 26, 2020, 10:00:10 AM

Easy and efficient way to mangae the portfolio is just hold leading potentioal coins,Trade coins for long term with using TP and SL. Long term trade minimize the pressure you just put a trade and look at free time the position of trade.
Day trading is not for who are 9-5 job holders because day time trading need attention and more time to get expected results.

Agree. if you dont have enough time to follow graphs and daily news, it is very risky to make daily tradings. it is better to hold good cryptos instead is the best.

That is the problem in diversifying your portfolio, you might not catch up on the quick changes in the price. I did experience where I am waiting for a price and never thought that it already reached it and the time I checked the price is already getting back to its normal price. If you have a full-time job, better minimize your portfolio to good and popular crypto currencies.

Gheka

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Quote from: akram143 on February 13, 2020, 05:46:04 AM

You don't have to look at the screen 24/7 at the monitor to make profits,just adjust based on your convenience and involving crypto trading over active can cause mental illness as well.So all you have to do is to stop day trading activities or just limit them into less number of trades and the price candle can be 30 minutes or 1 hour.

Trading bots can help you to actively involve in trading while you are working somehwere but still if you are rookie with trading bots then better avoid them until you get to know much clearer.

Bots can help us be more flexible in the market even when we work but the cost is often quite high, sometimes it is not a reliable subject, if we don't spend our time checking bots, bots are most likely turned into tools to ruin our assets, discourage those who are busy investing in these tools. Returning to management and working effectively, although the market does not require us to observe often but as soon as we place a buy or sell order, we need to take responsibility for it and therefore should not bring trading into the main job and vice versa, allocate separate time frames for both

Subbir

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Quote from: dvmmayowa on February 10, 2020, 07:43:30 AM

This problem get even more complicated for people that work during weekends, fortunately or unfortunately i fall in that category and i still create time to blog about crypto, (i should say its an addiction).
Latest news and trends are as important as safekeeping your assets in space, if you miss out on a particular information, it could be the rrason behind some silly decisions which can rekt you in the shortest time possible.

Yes you're right I also sometimes face this problem Working a full-time portfolio makes it very difficult to manage a portfolio but I feel very tired reception. and dealing on holidays is that the neatest thing to try to within the morning because doing all the add at some point is often stressful sometimes During that point the top is cold and doesn't feel disturbed.

alani123

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I think that you don't really need to carry all that risk if you're a working class person. BTC is, put simply, too much risk, and any crypto investment carries even mroe risk. At least BTC is disconnected to an extent from stupid statements or actions from developers. Every other crypto isn't.

I would argue that if somebody that is working class would like to invest, they should only do with a portion of their savings. Let's say that 10% if your income goes to investment so you can be safe from risks as a working class person. Only a sub-portion of that should be high risk. To that point, crypto won't be that profitabe. If you really want to manage a portfolio, stick with stocks and maybe keep putting a portion into crypto regularly, for the fun of it.

It's just sane financial advice to say that with the risk crypto carries, you shouldn't invest in it what you can't afford to lose.

akram143

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You don't have to look at the screen 24/7 at the monitor to make profits,just adjust based on your convenience and involving crypto trading over active can cause mental illness as well.So all you have to do is to stop day trading activities or just limit them into less number of trades and the price candle can be 30 minutes or 1 hour.

Trading bots can help you to actively involve in trading while you are working somehwere but still if you are rookie with trading bots then better avoid them until you get to know much clearer.

deisik

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Personally, I think the whole question is a little bit far-fetched or even contrived

Many distinguished and famous investors long before Bitcoin noted that most profits are earned through mid-term to long-term trading as well as holding. Warren Buffett has been saying that for literally decades. And while cryptocurrencies are different from stocks or even regular currencies in the sense everything moves a lot faster here, having a full-time job in no way prevents you from managing your portfolio efficiently, and, more importantly, effectively, which in this case means profitably

In fact, it can even contribute to this task greatly if you approach it wisely. When you have a full-time job, you have an independent source of income, with the implication being that you don't need to worry about every price move. Apart from that, your mind will be occupied with something else, so you don't get stuck in vicious anxiety loops, and can therefore make rational and informed decisions. The latter most certainly means there's no need in reshuffling your portfolio on a daily basis. In this way, you can effortlessly let your profits grow and reap them when the time is ripe

julius caesar

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There are some application out there that lets you check the current price of a specific coin in just one click. It will help you a lot to decide what coin you should avail or invest. It will also help you to predict the next price movement of that coin that will for surely gonna help you in your trading career. You can try to check the blockfolio app. That is good for monitoring cryptocurrency market price movement.

KnightElite

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Quote from: hahay on February 11, 2020, 05:26:51 PM

I'm not sure about that because when you first made the choice of several cryptos and the project that was invested at least you have research so you have a portfolio there, so you can have a target when the right time to go back and check what happened and me do not feel the need to check it every day because early research that will make you manage it more simply but with the ultimate goal which of course is accompanied by good confidence.

Confidence is a matter but it is not enough to earn profit while having full time job. We should know what we are doing, we should be aware to the cryptocurrencies that have potential in the market. For those who have full time job, invest in cryptocurrencies where its market is an uptrend. The price moves in trends and we should not buy cryptos that are downtrend because 100% sure that it will go down more.

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I'm not sure about that because when you first made the choice of several cryptos and the project that was invested at least you have research so you have a portfolio there, so you can have a target when the right time to go back and check what happened and me do not feel the need to check it every day because early research that will make you manage it more simply but with the ultimate goal which of course is accompanied by good confidence.

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Quote from: Maheshkumar_Hrangkhawl on February 11, 2020, 11:57:25 AM

you need to track the new developments regarding various cryptocurrencies which you are holding. For this, you need to regularly check various crypto news sites.

That is true, managing many different coins is a time consuming, it is better to focus on projects we believe and we can see that those projects are having real use cases with community support and community-oriented problem solutions.

Maheshkumar_Hrangkhawl

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First of all, I don't think that it is very intelligent to accumulate dozens of different cryptocurrencies. It will be better to concentrate on a handful of different coins, especially if you have a full time job. Apart from that, you need to track the new developments regarding various cryptocurrencies which you are holding. For this, you need to regularly check various crypto news sites.

dvmmayowa

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This problem get even more complicated for people that work during weekends, fortunately or unfortunately i fall in that category and i still create time to blog about crypto, (i should say its an addiction).
Latest news and trends are as important as safekeeping your assets in space, if you miss out on a particular information, it could be the rrason behind some silly decisions which can rekt you in the shortest time possible.

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If you have "normal" people job (office job, having to transport daily back and forth, use a car, etc) I would strongly suggest you become independent like freelancers, but considering that freelancers need to be disciplined with their time and well organized if you want to become a successful one!

Many people are shifting to that style of work, work from home. To change that all starts with the firm idea in mind first!

darewaller

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You’re not the only one that is in this kind of situation, I’m also facing the same. I still have a job that I’m doing and I go to work eight in the morning and I stay at the office from then till six in the evening and I start going. By the time I get home I always feel tired and the most important in my mind is to cook food, eat and go to sleep so I can wake up early the next day. The only day I don’t go to work is on Sundays, but still I will have to go to church lol and return by twelve in the afternoon.

Lots of things keep taking up my time and the decision I have made is to just invest what I ever I’m ready to lose, whether I lose or make profit I will take it.

Triffin

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Quote from: outatime1 on January 28, 2020, 09:19:58 PM

This is one reason why I only do longer term trading. I can't devote the time needed to be a good day trader since I have a full time job, plus a wife and kids. I have to just rely on good long tern decisions and hopefully it will pay off.

That's nice if you are having a job then it is good to trade for long term and also work in your office. When you want to trade for day you will have to quit your job and pay fully attention towards trading so using both needs proper time managment. Right now i am long term holder and also I am trading for long term to get good profit along with my other job.

tbterryboy

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I also have a job and my Bitcoin Investment is usually on a long term. I use different wallets because I am not the type that likes relying only on one wallet due to lack of trust. But when it comes giving notifications on prices, Coinbase wallet app does the job perfectly for me.

I check in only when I have the time, the notifications from the app usually helps me know where the price of the assets I bought are really heading. And I also like the fact that my phone has a pretty good lock screen notification display, so whenever I get the notification from the app it just pops up and I look at it and continue the work I’m doing.

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Quote from: outatime1 on January 28, 2020, 09:19:58 PM

This is one reason why I only do longer term trading. I can't devote the time needed to be a good day trader since I have a full time job, plus a wife and kids. I have to just rely on good long tern decisions and hopefully it will pay off.

that's what one should do if they have a full time job other than trying to become a full trader. you don't even have to use that coinalarm suggested by OP to observe portfolio in real time but just having an exchange mobile app will work. just having a sell order with your target price for your profit taking. i have this done to some altcoins that don't monitor a lot because i'm more focused on BTC trading that i do everyday while also have a day job.

outatime1

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This is one reason why I only do longer term trading. I can't devote the time needed to be a good day trader since I have a full time job, plus a wife and kids. I have to just rely on good long tern decisions and hopefully it will pay off.

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