RE: Week 2 Results Of My $44/Day Investment
Interesting 'experiment'.
I'm curious to know how you made your selection of cryptocurrencies though. You invest $44/day which is not a minor investment.
Your systematic investment (daily, same amount, same time) is similar to what is suggested in e.g. 'The little book of common sense investing'. Where you would invest monthly (periodically) in a low cost index fund.
An index fund tracks a lot of stocks though.
Here your selection is 'only' four currencies. Which did indeed get some traction indeed. But which might also be surpassed by other, better, implementations of currencies.
I would assume that your $44/day would leave room for at least let's say 10 currencies. Preferably currencies with some unique proposition (maybe steem is a good candidate ;) ). I am not an expert, can't give any advice. I've only been listening at some videos and read some articles.
I heard about e.g. iota, neo, monero, ...
So I am really curious about how you chose those four.
Next to that: do you plan on rebalancing your portfolio?
Hi @ddhaeyere the original amount of $44 stems from my original sale price of .1 BTC when BTC was $440. This is my daily reminder for a whole year that I made a mistake selling off/walking away from Crypto back in 2016. If and only if coinbase opts to add another coin at that time I'll rebalance the $44 to accommodate the amount of coins on coinbase. Wether or not I'll rebalance the portfolio is up in the air but I have a feeling all original purchases will remain and I'll continue as is with the new coins. I'm not familiar with "The little book of common sense investing" I'll be sure to look into that!
This is the book (small book, quick read):
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
I just bought the book, it will surely keep me busy during this snow day!
And i think it make sense to keep what you have. Especially seen the potential there still is.. you don't want to sell your strongest currencies I assume...
Since you see it as a marathon you probably won't have any concerns about rebalancing in a year or two ;).