Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: bookman on May 11, 2022, 06:55:46 PM
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Hello,
as we all know, LUNA has nuked big time and with her all the others.
My question is about little derisking of my portfolio. I am "degen" who started to dump money into alts one year ago. I have been in here during few crashes when BTC went at around 30K level and I am kind of flegmatic so it is not I would be scared now.
But as I have fairy big bag of alts (cca 60% alts, 40% BTC) I got an idea how to derisk other than simply selling majority of the alts in loss. What I mean by switching: lets say there is 5th day of panic in the market and I hold coins of 20 projects: I look at coin gecko and I will sort the coins by pump/dump in percentage for last 7 days. I see that there is a project "A" that I dont have much confidence dumped - 35% and another project "B" that I believe much more (or I just like it more and I am more willing to loose in it than in the A) is -30% So i sell the A and for all the funds I get from selling it I buy B. I kind of derisked (little bit) out of coint that is -35 while only loosing 5%.
NOW THE QUESTION:
As now we are talking about the whole protfolio which somehow grow (and dumps) for more than one year, I cannot compare it like in the first case - last 7 days.
SO: Is it possible to think the same but with PNL which coingecko (or any other portfolio tracker) is calculating?
Example:
I see that today I have PNL on BTC -30%. So I look at all the other projects in my portfolie where I have PNL -30% or "more" (-29%, -28%. -10%....), I sell them all and buy BTC for that money. I dont care how long I hold them or how much of them I hold or how much money I spent on them. I only look at % PNL and sell everything which suffered less then BTC for BTC.
Is it apples to apples with the first example of switching based on % of dump in the last 7 days? Or am I missing something?
Hope I explained it well... English isnt my native language so sorry for that.
Thanks for all the replies
Jan