No, track it compared to the "market" the way stock picks are compared to the Dow Jones or S&P 500 to see if someone's portfolio actually outperforms some measure of the average of the market without humans picking stocks. Haven't you ever heard someone brag about their stock picks when some unmanaged market index actually outperformed his portfolio? That person made some bad picks but thinks he's done well just because the market as a whole did well.
As far as I know there is no such thing as a crypto index but it wouldn't be hard to come up with one just using the top 50 in market cap and give weights to each according to their market cap. Maybe I should create it and call it the Kirby Hopper 50 LOL!
Thank you for the clarification. Comparing the performance with an index is a good indication, but for that we would need a index percieved by most of the players on the market as reliable.
I Will do some research to see if i can find any good index.
Define "Market"
It is not a waste of time, because is tracking his predictions of what would happen if money were used to buy the assets.
If you are saying that i should compare with other "technical analysts" you are wrong.
Each analyst have its own performance rate.
No, track it compared to the "market" the way stock picks are compared to the Dow Jones or S&P 500 to see if someone's portfolio actually outperforms some measure of the average of the market without humans picking stocks. Haven't you ever heard someone brag about their stock picks when some unmanaged market index actually outperformed his portfolio? That person made some bad picks but thinks he's done well just because the market as a whole did well.
As far as I know there is no such thing as a crypto index but it wouldn't be hard to come up with one just using the top 50 in market cap and give weights to each according to their market cap. Maybe I should create it and call it the Kirby Hopper 50 LOL!
Thank you for the clarification. Comparing the performance with an index is a good indication, but for that we would need a index percieved by most of the players on the market as reliable.
I Will do some research to see if i can find any good index.