I'm pretty new to trading, currently trying to digest as much information as possible - just have a few questions that I would like to get opinions on...
I'm looking to invest 2BTC into the market. Since my initial is pretty low, I plan on investing the majority of my money into alts. I want to play 60/40 with each coin I invest in, keeping 60% into long-term holds and using 40% for short... hopefully, to get my initial back to invest into bigger coins.
My question is how many coins would be a healthy amount to invest in with just 2BTC? I don't want to spread my money into too many coins since I'll be holding 60% in each coin long term and only playing 40% in short, but then again I don't want to keep my portfolio too small putting myself in a 1 basket situation.
I'm currently looking at:
Siacoin < made 15% during the dip yesterday - wish I had my deposit in from Coinbase so I could've invested a lot more in the market dips, o well :/
Verge
Ark
Ardor
Antshares/NEO
Steem
Other coins I'm looking at as well:
BAT
Golem
Nxt
IOTA
Would appreciate any advice or input,
Cheers
I'm looking to invest 2BTC into the market. Since my initial is pretty low, I plan on investing the majority of my money into alts. I want to play 60/40 with each coin I invest in, keeping 60% into long-term holds and using 40% for short... hopefully, to get my initial back to invest into bigger coins.
My question is how many coins would be a healthy amount to invest in with just 2BTC? I don't want to spread my money into too many coins since I'll be holding 60% in each coin long term and only playing 40% in short, but then again I don't want to keep my portfolio too small putting myself in a 1 basket situation.
I'm currently looking at:
Siacoin < made 15% during the dip yesterday - wish I had my deposit in from Coinbase so I could've invested a lot more in the market dips, o well :/
Verge
Ark
Ardor
Antshares/NEO
Steem
Other coins I'm looking at as well:
BAT
Golem
Nxt
IOTA
Would appreciate any advice or input,
Cheers
It's okay to trade alt coins but you should realize that it is gambling - and when I say it's gambling, what I mean is that your performance is entirely luck based and you cannot increase your odds of outperforming the market by doing research. The crypto market is so inefficient that the correlation between price and value is nearly non-existent. It's a myth that you can day trade alt coins and make a consistent profit. You'll do well while the whole crypto market is rising, but that won't happen forever. Furthermore, it is highly unlikely that you'll be able to outperform the market even as you do profit in a bull market. Fun fact - 99.4% of professional fund managers cannot consistently outperform the s&p500... and that's in the stock market, which is infinitely more efficient than the crypto market.
