Michaël van de Poppe@CryptoMichNL3D
bearishWeekly update on the #Altcoin portfolio
I'm getting hammered again on my portfolio, which is completely fine. It's been worse.
Time for some reflection.
When the markets are going down, you could think, What should I have done before?
The second question that pops into your mind: What can I do currently?
What should I have done before?
The easiest question to answer, I guess.
In hindsight, I should have gone more towards cash when I was shouting about being in profits on my #Altcoin portfolio.
The markets have been in a strong bull mode during August and September, and I've taken some off the table, but not enough, as the portfolio saw a correction of more than 30% after that.
That's a little too much, in my opinion.
Something to learn from and improve.
Join me on my journey towards $1 Million, with real-time updates on all the trades in the #Altcoin portfolio + additional active day trades (30R+ in 3 months) here:
https://t.co/iURmVrsZ5D
What can I do currently?
Well, that's the only thing that you can work with, as looking at stuff historically is more or less educational material.
As you can clearly see, I've shifted from a lot of positions to fewer positions over the past few weeks.
After analyzing the portfolio, many positions were too small, or essentially completely dead, and there's no point in holding those in a sea of opportunities in the markets.
As a matter of fact, this actually made me lose less, as almost all of those positions have dropped significantly more than the new positions that I've built.
What did I sell?
- I've sold my entire $OP position.
- I've sold my entire $REZ position.
- I've sold my entire $PEAQ position.
- I've sold my entire $EIGEN position.
- I've sold my entire $WOO position.
- I've sold half of my $W position (after selling a lot in that run-up).
Does that mean that I won't be holding them ever again? Of course, I will, but I need to see a confluence of technical and fundamental reasons to do so.
For instance, for $EIGEN and $PEAQ, I'm definitely bullish on those, as I think that machines will be using tokens to interact (in the case of PEAQ). Doesn't mean it looks great in the short term, as ultimately I'm here to make profits with my portfolio.
What did I buy?
- I've bought into my largest position: $SUI. Accumulated a lot of this one over the month; it's currently down around 11%, which is fine.
- I've bought a large position in $ETHFI, which is holding up strongly currently, and I'm expecting a lot from it.
- I've bought a large position in $UNI, as this one is significantly undervalued.
There's literally no point holding assets that have only been going down.
You'd want to see the confluence between fundamental strength and technical bullish price action.
That's the case with most of the assets that I'm currently holding, and I don't mind the current correction in the markets.
New update on Sunday!
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