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What's your strategy?

  • 17-12-2017 10:53am
    #1
    Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar


    Do you have a particular investment strategy for Cryptocurrecnies going into 2018? I see a lot of variances. I see some people all in on one or two coins, which I see as Risky. I see others with an absolutely massive portfolio - trying to buy a little bit of almost every coin they think might take off.

    I have 16 coins right now. 5 of them make up 75% of my portfolio - these are the ones I have my biggest bets on and have had good returns so far. I have 5 which I am negative on - but I dont want to sell. Problem is I have loads of coins I want to buy - but I'm not sure if it's a bad idea having it so spread over so many bets.

    With so many coins growing by several hundred times, Id like to try to put maybe $200 in a bunch of coins with good potential but have not had their massive gains yet. You only need one to moon for it to pay off even if the others go to zero.

    On the other hand, 2018 could either be the biggest year ever for cryptos, or it could all come crashing to the ground.I buy all my coins to hold for long term, however I've told myself I need to be prepared to sell everything and cash out if I think it's crashing. What is your strategy for being safe?


Comments

  • Registered Users Posts: 5,672 ✭✭✭ seannash


    Zascar wrote: »
    Do you have a particular investment strategy for Cryptocurrecnies going into 2018? I see a lot of variances. I see some people all in on one or two coins, which I see as Risky. I see others with an absolutely massive portfolio - trying to buy a little bit of almost every coin they think might take off.

    I have 16 coins right now. 5 of them make up 75% of my portfolio - these are the ones I have my biggest bets on and have had good returns so far. I have 5 which I am negative on - but I dont want to sell. Problem is I have loads of coins I want to buy - but I'm not sure if it's a bad idea having it so spread over so many bets.

    With so many coins growing by several hundred times, Id like to try to put maybe $200 in a bunch of coins with good potential but have not had their massive gains yet. You only need one to moon for it to pay off even if the others go to zero.

    On the other hand, 2018 could either be the biggest year ever for cryptos, or it could all come crashing to the ground.I buy all my coins to hold for long term, however I've told myself I need to be prepared to sell everything and cash out if I think it's crashing. What is your strategy for being safe?
    I have no strategy really as you know man but one thing I will be doing is sending any profits to my revolut card to spend. Morally corrupt to say but as soon as you deposit it into your bank it's visible to the tax man.


  • Moderators, Music Moderators Posts: 19,594 Mod ✭✭✭✭ Mr.S


    seannash wrote: »
    I have no strategy really as you know man but one thing I will be doing is sending any profits to my revolut card to spend. Morally corrupt to say but as soon as you deposit it into your bank it's visible to the tax man.

    Revolut will comply as much as any Irish bank, no?



    2018 will be a great year for Crypto, it’s absolutely huge right now and it will be interesting to see how far the big coins go.

    Equally interesting will be the crash if / when it comes.


  • Registered Users Posts: 5,672 ✭✭✭ seannash


    Mr.S wrote: »
    Revolut will comply as much as any Irish bank, no?

    In what way, I'm gonna transfer ethereum. From the exchange to the ethereum wallet within revolut and convert it to euros with in the app.
    Not sure what they would report


  • Moderators, Music Moderators Posts: 19,594 Mod ✭✭✭✭ Mr.S


    seannash wrote: »
    In what way, I'm gonna transfer ethereum. From the exchange to the ethereum wallet within revolut and convert it to euros with in the app.
    Not sure what they would report

    Does the € not hit your Revolut bank account then?


  • Registered Users Posts: 5,672 ✭✭✭ seannash


    Mr.S wrote: »
    Does the € not hit your Revolut bank account then?
    Well revolut are not a bank. They have applied for a banking licence though
    My understanding is that revenue would have to randomly audit you to be caught not declaring or paying CGT
    If they did I'm not sure if they would e aware you have a revolut account


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  • Moderators, Music Moderators Posts: 19,594 Mod ✭✭✭✭ Mr.S


    seannash wrote: »
    Well revolut are not a bank. They have applied for a banking licence though
    My understanding is that revenue would have to randomly audit you to be caught not declaring or paying CGT
    If they did I'm not sure if they would e aware you have a revolut account

    The fact they have applied for a EU banking licence would suggest they are compliant with regulation, which would include notifying tax authorities of accounts held. A bit like Swiss banks informing Revenue of Irish nationals with accounts. Anyway a bit off topic from OPs post.


  • Closed Accounts Posts: 1,115 ✭✭✭ asteroids over berlin


    Zascar wrote: »
    Do you have a particular investment strategy for Cryptocurrecnies going into 2018? I see a lot of variances. I see some people all in on one or two coins, which I see as Risky. I see others with an absolutely massive portfolio - trying to buy a little bit of almost every coin they think might take off.

    I have 16 coins right now. 5 of them make up 75% of my portfolio - these are the ones I have my biggest bets on and have had good returns so far. I have 5 which I am negative on - but I dont want to sell. Problem is I have loads of coins I want to buy - but I'm not sure if it's a bad idea having it so spread over so many bets.

    With so many coins growing by several hundred times, Id like to try to put maybe $200 in a bunch of coins with good potential but have not had their massive gains yet. You only need one to moon for it to pay off even if the others go to zero.

    On the other hand, 2018 could either be the biggest year ever for cryptos, or it could all come crashing to the ground.I buy all my coins to hold for long term, however I've told myself I need to be prepared to sell everything and cash out if I think it's crashing. What is your strategy for being safe?
    Investments not bets :pac:


  • Closed Accounts Posts: 1,115 ✭✭✭ asteroids over berlin


    Zascar wrote: »
    Do you have a particular investment strategy for Cryptocurrecnies going into 2018? I see a lot of variances. I see some people all in on one or two coins, which I see as Risky. I see others with an absolutely massive portfolio - trying to buy a little bit of almost every coin they think might take off.

    I have 16 coins right now. 5 of them make up 75% of my portfolio - these are the ones I have my biggest bets on and have had good returns so far. I have 5 which I am negative on - but I dont want to sell. Problem is I have loads of coins I want to buy - but I'm not sure if it's a bad idea having it so spread over so many bets.

    With so many coins growing by several hundred times, Id like to try to put maybe $200 in a bunch of coins with good potential but have not had their massive gains yet. You only need one to moon for it to pay off even if the others go to zero.

    On the other hand, 2018 could either be the biggest year ever for cryptos, or it could all come crashing to the ground.I buy all my coins to hold for long term, however I've told myself I need to be prepared to sell everything and cash out if I think it's crashing. What is your strategy for being safe?

    Your investment strategy is the same as many, personally if i were you and indeed what i do, is have a top 4 and then another 4 or 5 coins - all of which you should hold a minimum of 1k coins with the exception of any coins with 1 billion + total supply, then try and hold minimum 5k of each but ideally 10k coins.


  • Registered Users Posts: 43,858 ✭✭✭✭ 6


    Zascar wrote: »
    Do you have a particular investment strategy for Cryptocurrecnies going into 2018? I see a lot of variances. I see some people all in on one or two coins, which I see as Risky. I see others with an absolutely massive portfolio - trying to buy a little bit of almost every coin they think might take off.

    I have 16 coins right now. 5 of them make up 75% of my portfolio - these are the ones I have my biggest bets on and have had good returns so far. I have 5 which I am negative on - but I dont want to sell. Problem is I have loads of coins I want to buy - but I'm not sure if it's a bad idea having it so spread over so many bets.

    With so many coins growing by several hundred times, Id like to try to put maybe $200 in a bunch of coins with good potential but have not had their massive gains yet. You only need one to moon for it to pay off even if the others go to zero.

    On the other hand, 2018 could either be the biggest year ever for cryptos, or it could all come crashing to the ground.I buy all my coins to hold for long term, however I've told myself I need to be prepared to sell everything and cash out if I think it's crashing. What is your strategy for being safe?


    Who do you buy your coins with?

    Just wondering the best place to build up a decent portfolio.


  • Registered Users Posts: 3,333 ✭✭✭ Wombatman


    Do many people use auto buy\sell orders?

    I'm a great believer in stop loss orders. Start at about 15% less than my buy price. Widen the percentage with price rises but constantly move my stop points as I go up. Want to expose myself to big gains but not big losses. My stop points have been hit on many occasions often to bounce back again instantly which is a pisser. But when it drops another good bit after the sell point, I have often bought back at a better price than I auto sold at.

    Don't use auto buy orders much.


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  • Registered Users Posts: 9,062 ✭✭✭ Kenny Logins


    Wombatman wrote: »
    Do many people use auto buy\sell orders?

    I'm a great believer in stop loss orders. Start at about 15% less than my buy price. Widen the percentage with price rises but constantly move my stop points as I go up. Want to expose myself to big gains but not big losses. My stop points have been hit on many occasions often to bounce back again instantly which is a pisser. But when it drops another good bit after the sell point, I have often bought back at a better price than I auto sold at.

    Don't use auto buy orders much.

    I think you have it the wrong way around... I set buy orders about 10-15% below the current level and sell orders the same above.


  • Registered Users Posts: 13,972 ✭✭✭✭ SteelyDanJalapeno


    I've got multiples of coins across different exchanges (Bittrex, Poloniex & Coinbase) that I have no real escape route for, I don't have the accounts fully verified and I am beginning to get scared now that the value is rapidly increasing.

    I know I need to get the accounts verified and that's my job for today, but after that, what's a decent out strategy? is sell/convert to FIAT on the exchanges to quickest method of getting to a stable platform?


  • Registered Users Posts: 12 ✭✭✭ cryptomines


    I both mine and Trade, mining provides me a constant supply of ETH which I keep as a minimum of 50% in my portfolio, likely more as the price keeps going up (It's at 62% now). I can see ETH hitting $2.5k next year with a market cap of about $250 billion. Within 5 years, I can see it hitting $10k with a market cap of $1 trillion so I will always keep it as the main part of my portfolio.

    Outside of this, I have about 20% in IOTA right now, 10% in BTC and the rest in other coins (BCH, LTC, OMG, MCO and SIA). I'll continue to look for good ICOs and try to get in early with them but my main reason for buying into coins is they have real use cases that actually solve something and that the coin itself has a value to this.


  • Registered Users Posts: 766 ✭✭✭ adam240610


    I think sell orders are a terrible plan with cryptos. They're too volatile, could drop 20% in a few hours and be up 25% the next.

    I personally have a few miota and req


  • Registered Users Posts: 9,062 ✭✭✭ Kenny Logins


    adam240610 wrote: »
    I think sell orders are a terrible plan with cryptos. They're too volatile, could drop 20% in a few hours and be up 25% the next.

    I personally have a few miota and req

    If somebody wants to buy high and then sell on the way down, let them. :D


  • Registered Users Posts: 766 ✭✭✭ adam240610


    If somebody wants to buy high and then sell on the way down, let them. :D

    Swap the sell and buy orders around hahaha


  • Registered Users Posts: 1,711 ✭✭✭ Gryzor


    seannash wrote: »
    In what way, I'm gonna transfer ethereum.

    Can't transfer in crypto, only buy and sell inside their system. No transfers in or out afaik.


  • Registered Users Posts: 2,388 ✭✭✭ Nermal


    Sell something before year end; use up the CGT exemption, pay the tax and don't grumble about it.

    Admit to yourself you got lucky, you don't have any special insight or skill.

    Review your overall position and re-confirm you could afford for this stuff to all go to nothing.

    What's your security like? Is it time to buy a hardware wallet?

    Take 10% of what you have in this space and 'trade' (gamble) away with it. Leave the other 90% alone, and delete it from Blockfolio. In fact, delete Blockfolio altogether.

    Go for a run and get it all out of your mind.


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