So I am in a situation where I have found a potential project I can invest in for the long term and gain huge profits.
At the same time the current market seems the correction is over and another bull run might start.
I am having an urge to invest all that I can in the potential project I like but it is also a good time to diversify the portfolio and trade some nice coins to gain short term profits.
What would you guys do if you were in such a situation ?
@mk4
how long you're planning on holding
I can hold very long. Let's say 15 years or so.
what your other investments are(inside and outside crypto)
BTC and ETH
Little amount in Mutual Funds
what your asset allocations are
Not sure how would I describe that
what your trading strategies are
More of swing trading. Buy the dip, wait for a good price to sell (time doesn't matter)
what your risk appetite is, and how much money you can afford to lose
I can afford to lose not more than 25%
In my opinion, even though it is a very good and promising project, don't invest it all. Invest according to what you can afford to manage, because there are many other needs later, so you can use 50% of your shares or assets to invest in the project. Not hoping badly, but unexpected events are true, we just need to prepare for it, because sometimes we do not escape from a mistake.
For short-term trading, don't get too obsessed with it. When you have started trading our money, don't expect to get big profits, think about the risks. Usually, the money I will trade, I consider lost and it is not mine if I lose later. To avoid regretting excess and causing stress later, don't trade money that you are not prepared to lose. Trade money fairly, don't really want to get big profits, so we don't think about the risks that will await.