Thank you guys for this great feed back!
This is just a crypto strategy, it is not an overall asset management strategy. Currently I am building my crypto portfolio till the next big bull or even new all time high, let me see.
My plan was to start with something, go deep and try to become efficient at it, before moving to something else. Crypto currencies seemed to be more important over the stock market simply because the stock market is established already, cryptos are not. This means, that focusing on cryptos first seemed to me to be the better option. As soon as it feels right, I will expand my assets also into different things, like real estate, start ups and gold, because I believe those are the next best choices I could find so far.
I fully agree, that this strategy is NOT a complete one, nor is it an overall asset strategy. It was just an idea how to start going more serious on my crypto assets, I would never have expected it to become so well recieved by so many people!
If this trend continues, it might motivate me to create a complete PDF version including graphics which would make it understandable for almost every person on earth.
I definitely plan to show some numbers once I got it implemented and working for a while and to post my experiences including an updated version, since no plan survives the first battle...
@ Financial Freedom 4U
Many people considered the crypto volatility as a gift for trading and profits, how comes that you see this point differently?
@ Coltpython
If things go south, you have the option to hodl or sell (which might be a panic sell... bad idea).
You can only do it if you are aware of that situation AND capable of actually doing something (taking coins from wallet to exchange and sell at any time...)
As you can see, these are many factors already which have to be given in order to "save" your assets. A possible solution would be to have a dedicated crypto smart phone with API keys from your exchanges connected via Tab Trader and a Wallet App where you own the private keys.
This combination enables you to be ready at any time, if you set an alert and track the price, you should not miss any dip anymore.
I didn't like the idea to give somebody I don't know an API key which can withdraw funds from an exchange, because that is a serious security breach, which forces me to do it from home and sometimes leave some assets on the exchange during the day, which is a VERY bad thing too, to be honest.
I have not found a proper solution to this issue yet. Dragging a notebook or tablet around is too big and a smart phone needs an app, using its' browser is blocked by the exchanges for a good reason. Which leaves me with some bad choices.
I would be really happy, if somebody comes around with a solid solution to this issue. Because IF you are not ready 24/7 or as soon as your alert goes off, you are going to miss a lot of opportunities.