My (stupendously stupid??) STEEMLEO Success Strategy!!steemCreated with Sketch.

in steemleo •  10 months ago  (edited)

Diversification - Investing

Hello folks!! This is my first real article on the STEEMLEO platform! I am about to do something either insanely idiotic or genius. Not sure which one yet!

Background

Short background first. I have been on STEEM for about 8 months. In that time, I have invested quite a bit of time and money (for me at least) in the platform. I have gained a basic to medium knowledge about the platform. I have managed to achieve Dolphin status and bring in about 1-2 STEEM/day on average. However, something has been lacking. I am a bit ADHD and just find myself flitting about from place to place. Like a squirrel under an oak tree. Too many acorns!! Oooh! There's a bigger one!

Along came SCOT tribes and it only got worse :-) I'm interested in so many communities! I like sports! I like music! I like creativity! I like ...well you get the picture. I have 15-20 communities and their tokens to claim, stake, and curate etc. I feel like I am running in circles, but not making a lot of progress.

STEEMLEO

One community that piqued my interest the most, from the day that it came out, was STEEMLEO. I felt like it was in the top three from the standpoint of my level of interest (definitely #1), its potential for success as a community, its potential popularity, and its potential for price appreciation. So, I have made a bold decision. I am going to put most of my eggs in the STEEMLEO basket!!

This IS a bold decision on my part, but not necessarily a rash one. I have been building up to this over the last month or so. I have weighed the pros and cons and feel pros win out. I also think that I will perform better with focus and have more enjoyment concentrating on something I'm really passionate about.

I believe that @khaleelkazi has created a winning horse in this tribe, and I'm gonna ride it with all I've got! I am not giving up on STEEM by any means, but I am going to shift my investing and interaction focus here for the foreseeable future.

Strategy

Below are my thoughts on my basic strategy going forward. I have planned a lot of this in my head, but most of it is just following the lead of @steem.leo and many others in the tribe. The following rough outline (slightly modified and prioritized for my personal taste) is based on @shortsegments article Review: Multiple Streams of Income on Steem-Engine Tribe Leo. Thanks for giving me a compiled list from which I can refine, expand, and focus my own planning!

These steps are in my own order. I lean more towards a passive type investing and the top of the list are my first and early focus. I do hope to get to them all at some point.

Invest Money into LEO

This is first on my list because it is the simplest and fastest for me (also the most expensive)! Plopping $X onto the steem-engine exchange will have me holding more LEO in mere minutes. I have been doing this quite a bit over the last few weeks.

Delegating SP to @leo.voter

This is also quite easy and fast. I have already delegated some SP. I plan to take most of my SP and delegate it soon. Gotta figure how much I need to leave in order to avoid getting bound up from a resource credits standpoint.

Mine LEO Tokens with LEOM/LEOMM

I have also begun to do this in a big way with my previously invested money. I really believe this will be a successful community and this is a strategy that will shine if the community succeeds. It is not a get rich quick strategy and each mining token bought will take a long time to break even more than likely. The best way to break even more quickly is to get a relatively big stake early (or for the price of LEO to rise significantly). One caveat. This is by no means without risk! Theoretically you could own half the mining supply and never win any tokens!! You are basically buying perpetual raffle tickets. This is highly unlikely however and I have already been pleased with my mining so far.

Trade

I have done a small amount of this, but I hope to become more sophisticated in my trading. LEO/STEEM, STEEM/LEOMM, STEEM/LEOM

Curate #steemleo

I have also started doing this to some extent, but hope to improve over the next weeks and months!

Post Content

I had not done this yet, but am doing it now :-) and hope to at least increase the number of investing related posts in the future! I will likely build more posts from this outline that go into more detail about each aspect.

Tag

I have been pretty sloppy about paying attention to the tags I curate. I will begin to make a more concerted effort to maximize my time and efficiency. I will also be thoughtful about the tags I place on my posts (starting now!)

Buy Votes

I have not done this yet but am doing it now :-) I will send some LEO to @leo.voter to bid on an upvote for this post. I will continue to try and remember this for all posts.

Burn LEO

I will probably do this indirectly mostly by bidding for votes. A portion of the tokens bid for upvotes on @leo.voter are burned. I may also do this occasionally by sending tokens to @null with my post link (getting that post promoted)

Video Blog

Ha! I put this one at the bottom because it was mentioned in @shortsegments article, but I seriously doubt that I will do this soon. If ever! Never know though.

This is really only a rough outline of my initial intentions. Over the next few weeks I am going to develop this plan and refine it.
I intend on being pretty agressive with my money and on some of the above sections. I am going to publish a more detailed article on each of the sections above over the next month or two also (when I feel I have more helpful details to offer others).

Actions for Right Now!

  1. Invest $100 into steem-engine exchange - later today when I can acces funds
  2. Convert that $100 into LEOMM - after #1
  3. Remove all delegations out except to @leo.voter - DONE
  4. Delegate 3500 SP to @leo.voter - DONE
  5. Tag this article - DONE
  6. Bid for Upvote with @leo.voter - Done

As I said earlier, I intend to put almost all of my eggs in the STEEMLEO basket. This is not usually considered the best way to invest, but I think it will help me to focus and increase the clarity of my thinking. We will see :-) This is by no means investment advice!! In fact, I would not really recommend this to anyone else, but it IS what I plan on doing.

If anyone would like to dissuade or persuade me on the rashness of my actions, feel free to do so in the comments. Any helpful hints or insights are also welcomed!

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Sounds like a good plan to me. That's where I've shifted my focus too lately. Great things are about to happen in the steemleo community so it's good to know that there are more people out there sharing the same mindset.

I've actually been going for a couple of weeks, but have been trying to formalize a plan in my mind and streamline. I am very excited about this tribe and am going to put a good bit into it. Monetarily and energy-wise.

I know that it is a bit risky, but I have been known to be risky before. I probably should keep my mouth shut to gain the advantage, but I really do think that for anyone who really thinks this is gonna go well, mining is a great deal. It is not fast, but it plugs away hour after hour. Day after day.

If all the community does is stay around for two years, and price of LEO stays stable, I will probably get all of my money back. If it goes up, mining will have been an awesome choice :-) I'm taking a flyer!

Thanks for the comment!

Don't worry about others using your strategy, in fact, that's what you want to happen! This post may end up inspiring others to do the same, which will help Steemleo grow and prosper. Best wishes!


source

Haha! Oh I'm not really worried. The more the merrier!

The more people that participate the higher the value of LEO :-) most likely. It's a win-win!

That the only place I am active at the moment on Steem, welcome on SteemLeo.

Posted using Partiko Android

Yeah. This is the only place I am really active with investing for sure now.

I do curate some for #ctp #palnet #neoxian #stem but most of that is happenstance when I am curating #steemleo :-)

Awe. You can take out some sells if you want. lol

I guess we should have bid lower than .15. Oh well. Live and learn. At least it looks like .126 is safe.

  ·  10 months ago (edited)

Did you buy 2137.362 LEOMM at around 12K Steem assuming 6 Steem per one? You could have bought 120K LEO and curate to earn couple of times more LEO. Only extra work is curation time which I believe that you are already spending.

However, It is a hard problem to decide buy miner or token with miner's money. In early days of mining (3-5 years back), mining was profitable. But now-a-days, mining is too competitive or trap. I have been mining cryptos from 2013.

Anyway, if Steem spikes close to ATH and LEO doubles or triples, you will make handsome profit in fiat.

In last month, I also went from 4K to 14K LEO. Great to see enthusiasm from fellow LEOian.

Sorry for the late reply. Been busy of late and just forgot about this comment.

You are most likely correct. I realize that what you say is true. I am however searching for more passive income. I am not lazy, but I have spent the last almost 30 years working twice as many hours as most humans. Getting tired of the slog. I am curating some, but I don't really have the time to do it or do it well.

I bought all the miners and then I have been selling a majority of my LEO earned from mining and buying more miners. This is definitely a risky strategy and requires time and LEO price increase to really pay out, but as you said it will pay handsomely if things go up.

Thank you for prodding me to think about the investment sense. I definitely will. I have been investing money to buy time and maybe it makes sense to keep doing what I always have which is to invest time to buy money. Just old and tired of doing that, but I may just have to suck it up and do it.

It would also probably be easier/cheaper to get the stake on the front end than down the road.

Gonna have to think on this one for a while and decide what really is best for me and my style.

Thanks once again for the prodding.

Thank you for sharing, Nice post
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If you read from the steemleo interface then you don't have to worry about tags.

Good luck with your investment.