Strategy During This Crypto-Boom
I'm sure most of us in the cryptocurrency scene are feeling the gains right now, but I have a question for the community...
What is your strategy in times of surging profits?
I've put much thought into balancing my portfolio into a much more risk adverse position. Question as always is when. I've begun to set limits on when to pull out, but getting over the psychology of the move is still challenging.
I'd love to get some input from the community. This is a great learning opportunity for all of us.
Thanks as always!
Bradford Tennyson
I am new to this type of currency but am familiar with stock options and some futures. It would seem wise to take about 50% off and keep the powder dry for a downturn. This has not worked in the stock market this year but markets never go up forever.
Thanks for the response! 50% seems like a very aggressive move. Would you execute that at the height of a coins value (ie. Bitcoin right now)? I've thought about scheduling a portfolio re-balance on a semi-annual basis, but haven't fully planned it out yet.
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I think 50% would be reserves you use to take advantage of a down move.
So 50% in fiat (USD)?