Portfolio management

EASY MANAGEMENT OF INVESTMENT LISTS

Basic Instructions – Part 05

TO INTRODUCE

In the previous sections, I shared with you the tools, promotions, and things to consider when participating in this cryptocurrency market. In this section, you will learn more about how you can use the tools available in the market to monitor instant market movements.

Yes, if you’ve been involved long enough or have invested enough in crypto, the question “How much money do I have now?” will keep track of you, and tracking performance for what you have across multiple wallets and exchanges can be a chore unless you’re using a crypto portfolio manager.

The rationale behind any of these tools is that it pulls data from all of the trading platforms you’ve signed up for and gives you a long-term view of your situation. So what are the important functions of a crypto portfolio tracker? Will you be using one or more different tools to maximize your market value?

TABLE OF CONTENTS

1. Portfolio management tool

2. Portfolio rebalancing tool

1. INVESTMENT LIST MANAGEMENT TOOL

Portfolio Manager is one tool that you will use the most often. It helps you keep up to date with market movements in your portfolio. By looking at this, you can check how the total value of your investments changes in 1 day, 1 week or 1 month and see whether or not the performance of your coins is really worth holding for the long term.

And if you find that a particular coin is hurting your portfolio, you know what to do with it.

Below are the tools I am currently using and which I would like to introduce to you:

CoinStats

CoinStats This is my main portfolio management tool. You can use the WEB-based version or on mobile devices, but I mainly use the mobile version for its simplicity and convenience. The free version is relatively limited, so I’m currently using the paid version and I’m relatively happy with it.

If you have limited financial resources, in addition to CoinStats currently on the market, there are many other managers that are suitable for you.

Block folio

Block folio is the most widely used free portfolio tracker and only mobile. They have a nice user interface, message and signal area. The only downside is that you have to enter your coins manually, but for security reasons this can be seen as an advantage.

However, this is really too time consuming for a trader like me.

CoinView

CoinView is my favorite tool. It integrates many different utilities into it. They can quickly check the price of each coin, expand key information about the market, and get the latest market news for you.

I’ll share how I use it in the Optimization section in the next post.

Of course, it also integrates additional wallets and portfolio management that are available to you. This is a relatively good choice for those looking for something all-in-one. However, in order to be able to use all functions, you pay a reasonable fee.

BitUniverse Pro

BitUniverse is a transaction management tool that is always united on one platform. Basically, it is not that different from other tools and to use the Pro version, the fee is really a very affordable 5,000 VND. I believe it will be in the group of tools you will need when you are in the cryptocurrency market.

2. INVESTMENT LIST REBALANCE TOOL

Many seasoned traders take advantage of portfolio rebalancing as it helps reduce risk and maintain profitability. Portfolio rebalancing here means automatically buying and selling assets in your portfolio based on the portfolio weighting.

For example, if you want your ETH stake to always be worth 10% of your portfolio, but Ether gain in value and increase its value in your portfolio by 30%, the manager will automatically sell some Ether to balance your portfolio.

I can tell you that even hedge fund managers use rebalancing tools in their portfolios. Traders of all skill levels can use these tools to maximize their own profits.

Currently, services like this and reliable are relatively rare in the market, but I am going to introduce you to 2 services that are highly valued by many people.

shrimp

shrimp is a FREE rebalancing service and backtester support is also FREE. This means that not only can you rebalance, but you can also test different strategies through backtesting on the major exchanges they support. They have also been developing their services in the market for some time and have so far executed transactions valued at over $ 250,000,000 on behalf of their clients.

3 commas

3 commas similar to Shrimpy, only unfortunately they don’t have a free version. However, 3Commas has some additional features. For example, they can set up rebalancing every 12 hours, and they also provide general portfolio management tools and allow you to trade manually from their platform.

Services like this and reliable are rare, 3Commas is one of them, not to be missed.

SUMMARY

Management is always difficult for any new investor.

Hopefully, the tools I introduce above will help you in part in solving these fundamental difficulties.

DISCLAIMER: This article should not be viewed as financial advice. All information is for educational purposes only.