I am such a noob at trading that I just buy when I think it is low and set a sell where I think it might peak on a run or, watch the markets. I should probably learn more...
I am such a noob at trading that I just buy when I think it is low and set a sell where I think it might peak on a run or, watch the markets. I should probably learn more...
Taraz, these days correlations between different financial instruments are very high. So, it is almost impossible to find counter-cyclical products to balance your portfolio. Things all go up at the same time and they all go down at the same time, all over the world too. So today, it is critical to understand some kind of hedging mechanism more than ever.
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I am guessing that I should be keeping some cash on hand in case an opportunity arises. I was just talking to my wife about my unwillingness to sell anything out of fear. I figure, if I don't need it now, I will hold, but that means that if I need it and it is down, I have to sell low and, I don't have anything spare to buy with. I have struggled with balance a lot in many ways and my portfolio is only crypto. I don't even know where to begin with "real" stocks.
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You should always keep some cash in hand.
I typically don't have that problem. As a trader, most days I go to bed 'flat'. Meaning mostly on cash with all my trading positions.
I do have investment positions that I haven't touched in years and I add to it. But generally speaking my market risk is fairly low.
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What would you have to qualify to keep something in a long term position. Are they company stocks or resources like gold?
BTC for example. I never sold any BTC. Hopefully never will.
Also AAPL, NVDA, AMZN etc.