We all have our approach that has come either through divine message or grinding it out every single day. When it comes to your crypto activities, I have an approach that has served me well so far. The Triple Threat of Your Crypto Portfolio.
Money Under Your Mattress
My great grandmother who lived to be a 102 was one of those rare souls that never did anything out of sorts her entire life. As younglings we asked her to have a sip of champagne on her 100th birthday and she did it because us great grandkids were so persistent.
Not that we could have any because we were only 9 or 10 at the time.
One thing I always remember about her is that she had a small "satchel" of money that she kept under her mattress. It was full of silver dollars and even some silver "certificates".
I can't imagine what she would say today if I told her about crypto and how it is changing people's lives.
My Triple Threat
Everyone has their strategy. Some may call theirs HODL, HODL, HODL, while others go by different names. I have found a combination that works for me.
Obviously this is just an example of what works for me, but hopefully there is some nugget to help inform and or affirm your own analysis and decisions.
My basic approach is three levels.
The first step is the time test HODL. Yep, buy low and HODL. Eventually there's a sell high in the mix, but for the most part, entry during the dark times of the markets and let it ride. Pretty simple for sure.
The second leg on this stool is actively trading. I have tried this over different platforms over the last year or two. Gemini, Coinbase, Gate, CoinEx, KuCoin and more recently on ByBit. I have found out of all of them that Coinbase and ByBit are the two that meet the most needs overall.
Notice I said most. Each exchange has their place, but overall those two have itched the scratch.
Now the last leg in this triple threat is somethign that I have known about for some time, but have never truly engaged until recently.
The Power of the Trading Bots. There was a time when I was on cryptohopper trying to learn how the whole thing worked. In general bot trading is quite simple as there are just a few general strategies that most people used.
Grid Strategy, Dollar Cost Averaging and Futures Trading are just a few of the more common approaches that are used. Recently I came across the KuBots on the KuCoin exchange and have been very please with the short term results so far.
With a couple bots running 24/7, each bot is making between 1-3% each day. In some ways it is very entertaining to watch the amount of orders and see what the spreads are within the grid that is being placed.
Literally hundreds of orders are primed and ready within a specified range. It's probably a good idea to retest the strategy and reset each or every couple days depending on the state of affairs in the market.
So there it is. 3 legs on the stool that are really effective at the moment. I suspect there will be some changes and / or additions over the next year and it will be great to write about.
Whether in Sport or Crypto...
It really doesn't matter what sector you are in. Whether you are in sports, management or crypto, the power of the triple threat is real.
Having 3 legs on the stool, your three pronged approach, the 3-tiered strategy or whatever else you may call it, there is nothing more powerful.
Even if yours is completely different than what I use and truly I hope it is, the difference and having 3 components that work together and hedge against each other is powerful.
Take a moment and write down on something that you can refer to often what it is actually that is the makeup of your triple threat! Your answer may just surprise you!