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RE: It looks like I'm right about the pullback I predicted
But your not trading an index though, only individual coins ? If so then it doesn't matter what the overall cap is doing, only the coin you're interested in, whether it follows the cap or not.
I admit it's handy to know the cap, and the general direction, in much the same way I keep a general eye on world affairs and how it affects currency prices. But I don't make trading decisions based on it, that's up to the currency or stock to tell me.
I've been watching BTC for the last two days and I think I called it 7/8 times lol. One of these days I'm going to write articles explaining how to read charts... :-)
That would be true if I was only in a few coins. But I'm still in about 70 which means that my portfolio value generally swings up and down with market cap. It strongly represents how much I win or lose in a day.
I don't trade much these days; I have my positions and I just fine tune them with the odd trade to buy a bargain. I can't be averaging more than one trade per day at the moment. That means that about 98% of my portfolio value is still moving iaw market cap.
And since my general strategy is to grab the good coins and hold, I really don't care about short-term individual price movements, I just watch the market cap long-term trends.
Watching 70 individual figures would be pointless, I would have to combine them anyway. Might as well just use market cap.
Ah, I see, that makes more sense.
What do you think of the Buffet idea that diversification is a bad idea ? that all the good positions and bad positions average out so you never make a profit ? I'm sure you'd disagree... lol
I can see his point though, and the guy has more money than me so who am I to argue :-) lol
Standby for a quick post...
lol, I keep giving you ideas for posts, you really should pay me :-)
I do. In $0.00 upvotes!
worth every penny ! :-) lol