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RE: Buy Low, Sell High
Ironically, the run up in other tokens helped to rebalance my portfolio (along with additional capital).
No doubt about it. It happens all the time, if most of your picks are good picks! What's really nice though is when they rally at different times and you skim off the current winner to "average down" on the laggard that turns out to be the next pump that you skim off to reallocate into the next pump, rinse and repeat. It doesn't always happen so perfectly, but it happens often enough to make you a real believer.
Man, that Cramer wisdom really has me thinking. Seriously.
Just between you and I, @cryptographic, in the stock market, I am not big on diversification. To me, it breeds laziness. Besides, if the market is going to get hit, diversification doesnt help much since all get taken down. I prefer to study what I buy and keep on it until it gives me a reason to sell.
In crypto, things obviously are less certain. We are at such an early stage, few can predict who will make it and who will not. There are plenty of terrific blockchains that will fail due to lack of capital, or more likely, lack of blockchain talent to overcome the hurdles that will come. Expertise in this field is still rather limited due to its infancy. For that reason, diversifying is good. Having all of ones money in a particular token is a bad idea. No matter how good it looks, it can still collapse.
That said, I still feel very comfortable with the BTS and STEEM connection. To me, these are going to be my true winners in 2018. In fact, both are running of late so maybe the Church of Dan is starting to be recognized.
Thanks as always for your replies and interaction.
I agree with everything you say, well, almost. I diversify with stocks as well since you never know when one good one might take a hit for missed earnings or whatever. You're right though about all of them getting hit when the general market gets hit, but some more than others of course. That's why I'm way underweight right now - with stocks currently floating on air, I see a very negative risk/reward there. However, a sell-off will come sooner or later, and I imagine that will coincide with a need to take profits in crypto. When stocks are down 50-60%, I'll be a buyer again, and most likely my portfolio will be demanding it too!
Hopefully it coincides with another 200x gain in your crypto portfolio.
😂
Let's hope so!