I am not sure this is a god strategy, I have 5-6 coins, and try not to keep more than that as it becomes impossible to keep following the coin's news.
Is holding up to 5-6 coins only too risky ?
how many do you hold and what is your rationale for that number ?
I am holding a few coins on my bittrex wallet, close to six as well. I wouldn't say that its risky since diversifying sometimes works best. What I mean by that statement is that holding multiple coins is an opportunity to benefit from multiple sides(coins in this case). If you are just holding one coin, if it falls you loose since you don't have any alternatives. So you should actually consider holding multiple coins best.