Crypto Academy Week 7 - Homework Post for @stream4u

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Greeting community! Week 7 of the steemit crypto academy and my Second homework for @stream4u. Let’s get started with the task.

Money Management.

You must get an idea from the word “Money management”. The managing of money, as simple as that. People read articles and a lot of stuff on internet but when it comes to investing they need to learn EVERYTHING about managing money and the portfolio.

It is never about the amount of money in this. It is just about about how one manages the money and when you invest never invest in one asset because if you do that there’s a chance of losing all the money at once. You have to try different assets after checking the market and the volatility of the coins.
Always divide your capital in 2,3, or 4 parts. Invest in variety of coins. See the buying signals, charts, and everything about the asset you’re going to invest in. In short do your homework before you go to the class.

Future plan on your Money Management.

Thanks to @stream4u for such amazing lecture that I’ve hot many ideas!

I am NEVER going to invest ALL of my money on asset. Because if I do that, there’s a HUGE risk. And what risk is that? See, as we all know the market is very volatile, so if something goes down, I’m going to come on the road so never invest in one asset.

And if I do the opposite and invest in parts like explained in the lecture, it can very profitable! So that is what I’ll do. Also the right time is very important. For example if you see some profit in something you don’t just invest. You check if at THAT particular time, is it profitable enough ? Or will it be? If it is, you invest. If it is going to be, you invest. If it’s not or not going to be, you abort the mission. So the right time is very important.

Portfolio Management.

Basically, portfolio management is the collection of the all the assets that you have invested in. It gives you the opportunity to keep track of each coin's performance as well as analytical tools.

I don’t have any portfolio right now to show you because I have no investment. I’m learning about crypto from the lectures and also doing my research once I learn everything about the crypto and it’s market and feel ready to invest, then I’m going to invest.

Future plan on your Portfolio Management.

Well if you ask any experienced person, he will always tell you to keep your strategy before your emotions because as discussed above the market is VERY volatile so I’ll be very crucial about everything, keep everything in mind, be alert at all time and wait for the right time.

Diversification is very important and that is what I’ll do with my portfolio, I’ll diversify it because doing that will reduce the risks and maximise the results.

It's also a good idea to allocate a portion of your investment to different cryptocurrencies. Aim for a one-percent monthly allocation for each digital asset you own. If you have a lor of boxes given, use all of them. Never use just one because it will become very heavy and you won’t be able to carry it. It was an example to explain never invest in one asset, try different after going through variety.

I’ll do thorough analysis of everything while managing my portfolio because that the most important thing to do while managing your portfolio.

When was the last investment failed and Why?

Well up till now, I have never invested in anything because of following reasons.

1- I’m still a university student and I don’t earn my own money so I can’t invest.

2- I don’t have enough knowledge about crypto so If I invest after listening to others I can lose all the money.

As written above, I’m learning everything about crypto and it’s market and once I do, I’ll invest.

Conclusion.

Money management and portfolio management are two main things so everyone should know that.

If you know both of these things mentioned above, you’re going to stay for a long time here and you’ll be getting a lot of profit.

A thorough analysis is the most important because that can take you to the top or bring you on the ground.

That is all from my side. The work is 100% plagiarism free. Hoping for a good response as I’ve put in a lot of effort.

Special mentions

@steemcurator01
@steemcurator02
@stream4u