Your Current Cryptocurrency Investment Strategies

in #cryptocurrency8 years ago

I must admit, I am still a bit of a novice when it comes to cryptocurrency. I've only held them as an asset in the last few months, and I am still learning a lot of the basics. It has become clear to me that cryptocurrencies are here to stay, and in the short time that I've held them as an asset, they have already paid dividends. It is encouraging to have success early on, but I am also aware that I have a lot to learn. Guessing my way around these marketplaces feels too much like gambling, and it'd be great to develop a more seasoned approach.

From the past few days, altcoins are obviously going off the charts. I bought Ethereum last week before the jump, which feels good as a n00b move. I've thought about daytrading on larger volumes, and would like to learn more in regards to reading the numbers/graphs on sites like Poloniex. Taking a more bearish approach, especially with Bitcoin seems like a much safer option. But then you miss out on the large moves, such as Dash and others.

What are some strategies people employ to guide their decision making process? Any recommended books, articles, videos on the subject are also welcome.

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I literally just wrote this same post a minute after you.

Ha, I just saw that! The hive mind at work, I suppose. I've looked into renting a bot to automatically trade for me, but haven't made a move there yet.

I am in the same boat as you. I am looking to learn how to best set stop losses/ hedge against negative news (a la the Winklevoss ETF decision last week).

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