As an investor, you’ll need an investment strategy-there are no alternatives.
Depending on character, starting capital and risk tolerance, as well as a host of other factors, different people’s investment strategies can vary greatly. Some prefer intraday trading to guarantee quick profits and not dive into the bigger picture, while others prefer to play long and will “sit on” assets for months or even years before locking in profits.
If you’re set up to go long, consider using dollar value averaging to mitigate the impact of volatility.
Either way, you will likely use technical analysis (TA) and/or fundamental analysis in your asset selection and entry/exit decisions. Eventually, you will need at least some way to identify attractive investment targets for yourself and some understanding of when to lock in profits or cut your losses.
While we can’t tell you exactly what to invest in or how to manage your funds, there are plenty of tools and sources of information that can help you make smarter investment decisions. The more knowledgeable you are about the market, the better you can operate in it.
Below we’ve listed a number of tools and resources that can help you:
- Create and track your portfolio performance with our tool;
- Track upcoming ICO/IEO/IDOs with the CoinMarketCap ICO Calendar;
- Learn about trading theory on CoinMarketCap;
- The market won’t always go up, learn how to open short positions to trade on a downtrend;
- Trade like a pro with Nansen’s data analytics.
Tip for beginners: if you’re having trouble making a profit, try investing in a cryptocurrency fund. These are platforms that manage funds on behalf of their clients and use a team of experienced traders, analysts and experts to invest in cryptocurrencies. Some of the more well-established funds tend to have excellent track records and have historically delivered impressive returns to investors.
Nonetheless, always do your due diligence, including checking the fund’s reputation, team and past performance. Keep in mind that not all funds are genuine, and that no one guarantees returns.
