Thanks!
As for advice, hmm... Honestly, I should be asking other people for advice not the other way around. But if I have learned anything so far, I think this is what's working out best for me so far:
Two main strategies for investing:
1) All your eggs in one (or few) baskets
2) A few eggs in many baskets.
Both have strengths and weaknesses, but I prefer #2. Safer in the long run and gives you more options, every day just watch and see what's doing good, focus on that one. What I like to do is find something that tends to violently spike every so often, buy in a dip, put in a sell of half of it for twice what I bought it for, and wait. Might be waiting a while. But when it hits, you covered your buy in and you still have half left for free. If it doesn't spike that big, you can also say... buy 3, sell 2 at 150% buy cost and again end up with 1 free, etc.
Then, keep track of the ones you got for free and know that if you ever need to liquidate them for some other trade, you can do that at any time without concern for your purchase price.
Strategy #1's strengths are potentially bigger and faster gains. Weaknesses are potentially bigger and faster losses. And if you're under the buy in rate, you're tied up until it picks up, and you miss opportunities.
Strategy #2's downsides are higher transaction costs, slower return (but steadier), and sometimes it stings when one picks up and you think 'if only I had put all my eggs in *that* basket'. But I'll take 'oww, I didn't make as much money as I could have' over 'OWWWW I LOST A WHOLE LOT'. Steady return eventually turns into a bigger stack and lower return rates on that bigger stack are larger than higher return rates on a small, unstable investment.
Also, this is obvious but some people just ignore it: Research your buys. Know about the investment before you put any money into it. Know when important events are going to happen. Know who the competitors are and what they're doing. Listen to the haters, even if you don't agree with them.
That's pretty much the only info I have of value, anything else is speculation.
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Anyone want to buy me a beer? 1DzNQaGds3NxVBatAGaWRF9qieyuR6M7qA - THANKS
Thank you for the sharing!
Haha well you would definitely have deserved a beer from me but I missed the call on GEO,,, If I ever see you make a call again. And I join in time! I will definitely remember to pass you a beer tip. The only thing is I am also new and followed one person already. And it turned out bad. But I am a big bagholder for alts now so it is not VERY bad.
