I would like to start this post by thanking the community for receiving me so well, before getting to the point. I started Crypto-trading on 7th June and joined Publish0x on 9th July. Since then I have been engaging and sharing knowledge –as I learn and overall I am amazed by the overwhelmingly positive response.
You will probably never see me write a post on concepts such as Block Chain, Tezo baking, Proof of Work or Proof of Stake. There are people far more qualified than I to write such posts. Understanding such levels of complexity can be helpful of course, but for most us it is unnecessary.
And I believe this could be my advantage. I know I am writing as a newbie, and for the reader, especially other newbies, my use of plain language can only be helpful. It probably helps that I have a good general financial grounding and in my professional capacity as a coach and trainer it is only natural that I can break things down and make them digestable.
The role of the coach / trainer is to take the complex and distill it down to the simple so it is manageable for the target audience.
(This is one of my principles – feel free to quote me if you like :) )
Anyhow I want to talk strategy today and the purpose of this post is to outline some general principles before sharing some key strategies in developing your Crypto Portfolio. You can probably relate to at least one of these comments.
- ‘I am investing in Crypto to make money.’
- ‘I will just buy and wait for the prices to go up.’
- ‘I heard crypto is a good investment so I will jump on board too.’
- ‘Crypto is risky, but the returns are better than the banks.’
None of these are strategy. These are objectives – in other words they describe what you want. In business language they could also be called targets. Strategy on the other hand is all about how to achieve something. Strategy is not emotion nor whim. Strategy is a roadmap and strategy is about achieving results and this is based on clarity. In his book Results, Business guru James Smart describes emotions, and especially negative ones like fear, doubt and insecurity, as thought in the moment and they lead to contaminated thinking, which affects clarity, which in turn affects results. He believes clarity + action achieves results and all that is necessary is to do away with contaminated thinking that hinders progress:
Find Results here:
However, I am not here to discuss James Smart and Results*, but we can draw from this brief digression that strategy is cerebral and must be clear. Revisiting the objectives I outlines a few minutes ago will not achieve your goals.
*If the community wishes I can add more business coaching materials to my blog, please use the comments below to let me know.
The strategies are (links will be added as I add the posts):
- Investment Halving
- Tactics for Newbies: Simply Staking
- Milking the Cow
- It’s not all about money.
- The Magical Money Tree
- Blended Strategies
- …more to follow.
Thank you for reading this post and I will get back to you very soon.