Module #6 - Advanced Investing

Lesson 3 - Tracking Your Investments

If you have reached this far, you might be starting to build yourself a nice little Crypto Assets portfolio. One thing I think is crucial is keeping good records with your investments.

Personally I keep very detailed records, but for now, we are going to keep this simple so that you can maintain a good record of what you have invested in and how they are doing.

Track With An App

There are tools out there which you can use, apps like Blockfolio and Delta. I would recommend downloading one of these and setting up your portfolio in it. These are the best two that I have found, but I do have a preference for Delta as you can have your portfolio on more than one device, create a backup and they have now introduced a desktop application.

Track With A Spreadsheet

Tracking spreadsheet

This for me is the most important way of tracking your portfolio. There are websites which you can create and track your portfolio with lots of different metrics. I prefer a spreadsheet as you set it up and track all the numbers which are important to you.

As I have mentioned above, I have a detailed spreadsheet with lots of different metrics, but for now, I am going to share with you a very basic spreadsheet for getting you started, tracking your portfolio.

I have made this available on Google Docs; it currently has view access which you can get to from here. You can download a copy of this use the menu options File > Download As.

If you would like access to the original file to use in Google Docs, then please request access, and I will provide it to you. Please though use the menu options File > Make A Copy to create a personal copy of the spreadsheet for your use. If you edit the file, then it will change it for others, and I will have to fix that.

How to Use the Tracking Spreadsheet

The spreadsheet is a simple tool for tracking your portfolio, I will at a later date introduce you to more advanced tracking options, but for now, I want to get you into the habit of keeping good records.

You will notice the spreadsheet has two tabs:

  1. Live trades: this is for any open trades you currently have (you can see all my current live trades on my website)
  2. Closed trades: this is for any positions you have closed (you can see all my closed trades on my website)

Note: I try and keep all my open and closed trades as up to date as possible on my website.

Regarding keeping records in the spreadsheet, in both tabs you have a row for each trade, these are the columns and the information you should keep in each one:

  • Coin: the Crypto Assets you have bought, for example, Bitcoin
  • Code: the ticket for the coin, for example for Bitcoin it is BTC
  • Date bought: this is the date you purchase the coin
  • Amount bought: this is the amount of the specific currency you bought
  • Bought price: this was the price of the coin at the time you bought it
  • Bought spend: this is the total amount you spent on the trade (automatically calculated from amount bought x bought price)
  • Current price: this is the current price of the asset, you can get this from a website like CoinLib
  • Profit £: this is the current fiat profitability level of the trade, auto green for-profit and auto red for negative
  • Profit £: this is the current percentage profitability level of the trade

You then have a total profit level calculated for your portfolio.

Within the closed trades tab you will have the following:

  • Sold Date: the date you sold off your trade
  • Sold Price: the price you sold the coins for
  • Sold Value: the total value of the sale

With these cells in the closed tab, you can track how profitable the trade was, helping you keep an eye on how you are doing.

And that is it, a simple tracker for you to track your portfolio. In the future, we will add more advanced things for tracking, but for now, I want you to get into the habit of keeping good records.

Module #6: Lesson 3 Summary

  1. It is important to track your investments: to understand how they are performing
  2. There are apps available for auto tracking: you should download these and setup your coins on your phone
  3. For advanced tracking a custom spreadsheet is advisable: you can download the basic one I have created

Now you understand how to manage your Crypto, you can move onto Module #7 and learn about technical analysis.