Knowing yourself is critically important

It's important to KNOW YOURSELF – your RISK TOLERANCE and the GOALS you have in setting up your portfolio and crypto growth opportunities.

Once you understand yourself, your risk tolerance and goals you can maximise your profits by having a plan in place for both establishing the portfolio as well as consistently adding to it. Consistency and research is key.

Decide how much of your portfolio you want invested in platforms and how much you wish to start with for your alt portfolio.

Next choose the coins you would like to add to your portfolio. It is good to focus on a small portfolio to start with.

Start with researching and choosing two large cap, two medium cap and two small cap coins. (Large cap is the top 5 on coinmarketcap, medium cap is the top 30 and small cap top 70.) From your selection of core coins these are the coins you see the greatest future lying LONG TERM. The idea here is if you do the research and have a consistent plan on how you add to each position you will only have to review the portfolio every 6 months and otherwise forget about it.

RESEARCH here is CRITICAL!

***If you won't be able to stop yourself from looking and stressing over dips, then store it in a way you don't have easy access to viewing it. Make it a set and forget.***

Every person is unique and has different factors, needs and desires that influence their perspective.

Decide what kind of natural risk tolerance you have.

  • Do you naturally prefer high risk, high reward ventures?
  • Do you prefer slower, long term passive gains?
  • How old/close to retirement are you?
  • How long can you put the funds away for?
  • Will you need to have access to your funds in case of emergency?
  • Do you have a stable income, good health?
  • Do you have short term goals or more long term?
  • Are you happy to monitor the platforms frequently or prefer a more hands free approach?
  • Are you prepared to re-evaluate frequently?

Once you know some of those answers you are in a stronger position to determine which types of platforms suit your needs, which withdrawal strategies will work for you and how best to structure your portfolio.

Click on Freebies to access some helpful PowerPoint presentations and get you started.

If you would like customised assistance in creating a customised Portfolio Plan fill in your details here and I will get back to you.

 

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