Yep, it's too risky. Never put all your eggs in one basket, the proverb says. Besides that, in altcoin season like this where almost every altcoin is rising, spreading your funds into several altcoins is better. It will increase the odds that at least some of them, if not all, will rise a lot at some point.
I'm currently investing on about 5-10 coins. Whenever a coin already made me enough profit, I sold them and reinvest the money to another promising altcoin.
You have good choice to pull money into 5 or 10 several coins to split the risk because we never know what will happen to our asset if only one asset. Choose more have higher probability to win.
5 till 10 coins is the average of amount coin so if less than that amount then its not good but if more i think its too traffic.