Post
Topic
Board Economics
Re: How do manage portfolio efficiently while having a full time job?
by
Sanugarid
on 22/02/2020, 12:41:00 UTC
I'm not sure about that because when you first made the choice of several cryptos and the project that was invested at least you have research so you have a portfolio there, so you can have a target when the right time to go back and check what happened and me do not feel the need to check it every day because early research that will make you manage it more simply but with the ultimate goal which of course is accompanied by good confidence.
Confidence is a matter but it is not enough to earn profit while having full time job. We should know what we are doing, we should be aware to the cryptocurrencies that have potential in the market. For those who have full time job, invest in cryptocurrencies where its market is an uptrend. The price moves in trends and we should not buy cryptos that are downtrend because 100% sure that it will go down more.
Absolutely, the important thing is that you have a solid portfolio that you do not need to check it everytime. The thing is that you should have back up plans if something has changed on the market that will affect your profit.
You don't have to look at the screen 24/7 at the monitor to make profits,just adjust based on your convenience and involving crypto trading over active can cause mental illness as well.So all you have to do is to stop day trading activities or just limit them into less number of trades and the price candle can be 30 minutes or 1 hour.

Trading bots can help you to actively involve in trading while you are working somehwere but still if you are rookie with trading bots then better avoid them until you get to know much clearer.
Also it does not make a lot of sense to hold that many coins, since many of them are heavily correlated among themselves so if you you reduce the number of coins you are holding this is going to make easier to monitor your portfolio and it could take you just a few minutes each day, and it does not matter how busy you are you could always dedicate a few minutes each day to that and in the case you need to adjust your portfolio due to the movements of the market this will also only take you a few additional minutes.
Even with a single coin and stable coin pair you can keep your day busy all the time so it all depends on how we much margin we set to reach by trading.
It is also depending if you are doing long time holding or day trading because the portfolio is different depends on those two. As long as your profit is secured, even if you are not checking it everytime, it is good.