If you recall a few weeks ago I was looking into trying to diversify my portfolio by looking into a company trading on my behalf. What they had available as a service at the time was firstly not what I was looking for plus the costs were just not worth it.
The €471 per month cost helped me make up my mind and only someone new to crypto would ever consider this as an option. My idea was the payment they receive comes entirely from the profits they make from the investment under their control. I told them I was not interested as I could do what they were offering on my own and I didn't see the value they offered.
Anyway cutting a long story short they responded late last week offering a solution which kind of fitted the solution of what I was looking for. Basically you have an account on an exchange where they can access the trades but not the funds via an API. I was not sure what they meant by this and this was the response below explaining this.
API trading, short for Application Programming Interface trading, is a way for a trader to establish a connection between their own account and another account on an exchange, where all trades in the linked accounts are executed in the same manner as in the main account. This allows the trader to trade for the connected account while connected accounts keep their funds always under the management of their own account. The trader cannot deposit or withdraw anything; trades are essentially copied onto the connected account.
This is definitely something I would consider as I feel as though I am missing something with my crypto portfolio. There is no trading due to all of my investments being staked earning via the various APR's on offer. There is nothing wrong with this accumulation method given we have been in a Bear market for many years already. Now the Bull cycle is coming tapping into trading is the obvious next step covering all the various ways of earning more crypto thus more dollars.
This however is not a must do or a priority right now as I am all in with staking and expect to see a big return due to the the research done on this chosen projects. When I am flush with cash then yes that would be the time to experiment and see where this idea leads, but not now.
Anyone in a bull cycle can look like a genius trading due to everything increasing in value and believe this is not the right time to experiment. Sticking to what I know will guarantee better results as it has already been proven by how my portfolio has grown. Like I said previously if you were starting out in crypto and had money to invest then this would be the route to take and the timing for my portfolio this would be wrong now. Having had tunnel vision literally for 6 years growing the portfolio the last thing to add to the pie is something that will take your eye off with what you have been doing so well.
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That’s no doubt a huge amount. I don’t think a new user would even want that to keep on going over time. I’ve heard a lot about copy trading if that’s what the api stuffs was talking about, but I think it’s best to stick with what we know best. For me I don’t have trading experience but I’m going to keep looking for opportunities around the market as the bull market is slowly moving in.
We have to always be looking for new opportunities and thinking outside the box to gain an advantage. I don't know how much the API trading costs yet as I was hoping it was a percentage of what was made.
That could be a better option for you. I don't like the idea of keeping my funds on an exchange, but I guess if you are using it just for trading, that's kind of what you have to do.
I am in two minds, but definitely not for now and only once the bull cycle has boosted the coffers would I consider this. I need to learn trading or do this alternative API service.
We have to work on positivity and learn something new and have some great goals and opportunity
Similarly, if one wants to make profit in the bull market, then one has to build his portfolio very wisely and add good coins, only then he can go and make profit in the bull market.