Topic: Always have an exit strategy - page 4. (Read 950 times)
An exit strategy in my opinion needs to be a backup plan than a primary one. Because we don't know how exactly will be the market move. Everyone wants to sell high and get back into the market buying low. This can be made possible with time and not immediately. If the market is in large scale fluctuation, this might be possible. So, here we need to use the real exit strategy or the backup plan to cut the loss if market moves were against our prediction.
"Exit strategy" sounds like an excuse to sell with losses. Person would better try trading to minimize loss or continue holding imo. Instead of having an "exit strategy", I would better have a "money pillow" that will help me to keep on the surface and not to get bankrupt, and continue holding. However, this "money pillow" should not be used as an investment in crypto, it must be used only IRL while holding crypto and waiting for a desired price to sell it at.
The only reasonable exit strategy would be to sell at higher price that you planned beforehand and hoping to get back in at the price you wanted to. I mean it makes sense to calculate these things before they happen, so that you would be doing a lot better with your strategy. However, if you did not planned it beforehand and got scared and sold with a loss than it doesn't make sense at all.I hope that I would actually reach my portfolio amount that I dream about. If I can do that, then I am going to end up buying a house and renovate it and then rent it out. I am not going to be super rich and all that, but I will be doing just fine thanks to that, basically it is a safety net. That type of exit plan is not a bad one at all.
"Exit strategy" sounds like an excuse to sell with losses. Person would better try trading to minimize loss or continue holding imo. Instead of having an "exit strategy", I would better have a "money pillow" that will help me to keep on the surface and not to get bankrupt, and continue holding. However, this "money pillow" should not be used as an investment in crypto, it must be used only IRL while holding crypto and waiting for a desired price to sell it at.
Exit strategy is needed it is the same as setting a limitations if you don't understand the loss or if you loss so much then it is not wrong to do exit strategy,we also need it to avoid bigger loss it is better to exit than to loss everything so I think exit strategy is needed specially to those who already loss 50%from their capital. However it is still depend on the project you invested just do you're own research and make a good decisions.
The most important thing is that we must be able to invest with a knowledge base, first we know the coin we want to invest, then make a suitable investment pattern for the coin, the investment pattern is divided into two, long term and short term, so if we are familiar with the coin, then easier to implement long term or short term, research is a must in carrying out investments, without this we will find it difficult to achieve maximum profits.
I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin 
Yeah, that's likely what it is. Before we've got some plans of selling at a certain high price but right now, the world's situation is no longer becoming good.We got to have a plan that will save ourselves from these economic down falls and that is to get into bitcoin. That's why I won't sell a lot even if the price of bitcoin goes up.
The inflation rates are increasing and as well as the salary is slow in increasing, to cope up with these problems, HODL is the key.
Holding bitcoin is the best investment option, I'm in the crypto world so I will support my statement. However, it's a risky investment so we cannot rely just on that to solve our financial problem or the inflation thing in the long run, we need to find another source of income to increase our funds to live a comfortable life, the investment we have now may like our retirement so we don't have to worry about out finances in the future.
Someone who's new to it has to understand the risk before they go just as what we do. At first, it's going to be hard because you'll be living with volatility.
But once you're used to it, that means nothing and you're just going with the flow of the market and that's no longer going to hurt you once you see it dropping hard.
I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin
Yeah, that's likely what it is. Before we've got some plans of selling at a certain high price but right now, the world's situation is no longer becoming good.We got to have a plan that will save ourselves from these economic down falls and that is to get into bitcoin. That's why I won't sell a lot even if the price of bitcoin goes up.
The inflation rates are increasing and as well as the salary is slow in increasing, to cope up with these problems, HODL is the key.
Holding bitcoin is the best investment option, I'm in the crypto world so I will support my statement. However, it's a risky investment so we cannot rely just on that to solve our financial problem or the inflation thing in the long run, we need to find another source of income to increase our funds to live a comfortable life, the investment we have now may like our retirement so we don't have to worry about out finances in the future.
I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin
Yeah, that's likely what it is. Before we've got some plans of selling at a certain high price but right now, the world's situation is no longer becoming good.We got to have a plan that will save ourselves from these economic down falls and that is to get into bitcoin. That's why I won't sell a lot even if the price of bitcoin goes up.
The inflation rates are increasing and as well as the salary is slow in increasing, to cope up with these problems, HODL is the key.
Exit strategy is needed it is the same as setting a limitations if you don't understand the loss or if you loss so much then it is not wrong to do exit strategy,we also need it to avoid bigger loss it is better to exit than to loss everything so I think exit strategy is needed specially to those who already loss 50%from their capital. However it is still depend on the project you invested just do you're own research and make a good decisions.
The most important thing is that we must be able to invest with a knowledge base, first we know the coin we want to invest, then make a suitable investment pattern for the coin, the investment pattern is divided into two, long term and short term, so if we are familiar with the coin, then easier to implement long term or short term, research is a must in carrying out investments, without this we will find it difficult to achieve maximum profits.~
Still, I am happy with my long term holding; I tried to multiply my bitcoins by selling around ATH and buying back at bottoms but not being good in technical analysis is making me not to act as per my plans.
You do not need to be an expert in technical analysis to understand these aspects. When you see the coin moving from below $10 to above $50k i sold a portion of my holdings as i never expected that kind of rally this year to be frank, i thought these valuations were possible during the next rally, but you will be surprised with the rally all the time even though i saw all the bull runs till now.Still, I am happy with my long term holding; I tried to multiply my bitcoins by selling around ATH and buying back at bottoms but not being good in technical analysis is making me not to act as per my plans.
My next target was $75k but we are yet to reach that target this run, either way i am happy with the current rally and will take positions according to the market situation.
A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans. I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.
That's what smart traders/ investors should be thinking. The bull run is over so let us not expect a new ATH anytime soon. With the way the market is moving, it's already giving us a hint that anytime we will see a huge dump, and when that happen it will make the dump more serious as some may panic.
Exit strategy is needed it is the same as setting a limitations if you don't understand the loss or if you loss so much then it is not wrong to do exit strategy,we also need it to avoid bigger loss it is better to exit than to loss everything so I think exit strategy is needed specially to those who already loss 50%from their capital. However it is still depend on the project you invested just do you're own research and make a good decisions.
The most important thing is that we must be able to invest with a knowledge base, first we know the coin we want to invest, then make a suitable investment pattern for the coin, the investment pattern is divided into two, long term and short term, so if we are familiar with the coin, then easier to implement long term or short term, research is a must in carrying out investments, without this we will find it difficult to achieve maximum profits. 
A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans. I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.
Even though the market conditions are chaotic, I don't see the decline in bitcoin price will touch the lowest point, look at 2021 bitcoin has reached ATH only twice, then there has been a correction until now, but the low has not been seen until now for bitcoin, starting from 2021 I believe bitcoin will hit a new ATH for this year, although we can't say for sure what month it is exactly.It's easy to say that bitcoin will hit X all time high this year, but if you have been in the market for so long, you know that bear market is imminent as it is a natural process to occur after a bull run, so it's a cycle.
I think many had an exit strategy to either get out at $98-100K or so, however it never reached that figure. Right now I think many will have an exit strategy to exit at $50K and there is a good chance that even $50K might not hit, might come close to $48K and head back down. Similar to what happened in 2018, when it broke $10K a second time, everybody wanted to get out at $10K but it went to like $9800 instead.
Either way, you need an exit strategy before a certain event happens. Lets say your strategy was to exit at the old ATH $64K, however when you saw that bitcoin had lots of steam you cancelled your sell orders and moved your sells up, and now you are left holding the bag. Have an exit strategy and stick to it.
Either way, you need an exit strategy before a certain event happens. Lets say your strategy was to exit at the old ATH $64K, however when you saw that bitcoin had lots of steam you cancelled your sell orders and moved your sells up, and now you are left holding the bag. Have an exit strategy and stick to it.
A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans. I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.
Even I am not holding big amount of bitcoins, honestly I am not having any exit strategy. Moreover even I am having some plan/strategy for the time around ATH, I was unable to execute it because of uncertainty of market conditions. By 2017 end, I was assuming like that we were going to have continuous bull run along with small corrections and by 2021 end, I am expecting the ATH to happen by mid of 2022 which means that not sure about that I got trapped one more time by beauty of market or not.Still, I am happy with my long term holding; I tried to multiply my bitcoins by selling around ATH and buying back at bottoms but not being good in technical analysis is making me not to act as per my plans.
I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin
Its best to jump the fiat ship while it is still sinking and climb aboard the crypto ship. But if you absolutely need to save your money because you cannot afford short term losses, I guess just make a trading strategy and calculate a certain percentage that you are willing to lose on a trade. That will be your exit strategy. Although, as I said, I would not recommend it, as exiting causes more losses than one might think...
Its best to jump the fiat ship while it is still sinking and climb aboard the crypto ship. But if you absolutely need to save your money because you cannot afford short term losses, I guess just make a trading strategy and calculate a certain percentage that you are willing to lose on a trade. That will be your exit strategy. Although, as I said, I would not recommend it, as exiting causes more losses than one might think...
A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans. I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.
It is difficult to reach new ATH for this month, market conditions have forced bitcoin to correct until now, the pause in the recovery has not seen the maximum, this condition further emphasizes that reaching new ATH is not possible, but in the long term the possibility of bitcoin reaching new ATH is very open, so I guess for January and February bitcoin will not reach the new ATH, however the correction phase has not recovered so far.Regardless if the bull run is over or not, we should always have a exit strategy. And it's logical, I mean we have the entry plan, so obviously, we will also need a exit strategy as well. And as a I have said before, it's rare for bitcoin to hit 2x of a ATH in the same year, and probably what follows after that is a bear market. And that is what we are experiencing right now, although the market going down is not that abrupt but yet there is indication that we might be in the bear territory already.
Regardless if the bull run is over or not, we should always have a exit strategy. And it's logical, I mean we have the entry plan, so obviously, we will also need a exit strategy as well. And as a I have said before, it's rare for bitcoin to hit 2x of a ATH in the same year, and probably what follows after that is a bear market. And that is what we are experiencing right now, although the market going down is not that abrupt but yet there is indication that we might be in the bear territory already.
The more you prepared, the more chance to experience a better outcome.
Without any plans, you are just playing with fate and once it didn't come your way, the next you know, is you are losing your money.
A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans. I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.
It is difficult to reach new ATH for this month, market conditions have forced bitcoin to correct until now, the pause in the recovery has not seen the maximum, this condition further emphasizes that reaching new ATH is not possible, but in the long term the possibility of bitcoin reaching new ATH is very open, so I guess for January and February bitcoin will not reach the new ATH, however the correction phase has not recovered so far.Regardless if the bull run is over or not, we should always have a exit strategy. And it's logical, I mean we have the entry plan, so obviously, we will also need a exit strategy as well. And as a I have said before, it's rare for bitcoin to hit 2x of a ATH in the same year, and probably what follows after that is a bear market. And that is what we are experiencing right now, although the market going down is not that abrupt but yet there is indication that we might be in the bear territory already.
My exit strategy is a house. I know that it doesn't make sense for most people, I know that crypto makes a lot more money than a house and that is why people end up having some sort of weird reply to whenever I say that I want to buy a house.
However, sometimes you have to consider how you can spend your money and who will say what. I do not have NEAR enough to buy a house, it will take minimum of 4 more years by saving with the hopes that it will be 200k by the end of that 4 years. So, if it is not 200k per bitcoin, then even 4 years is not enough and will have to wait until it is there.
The reason why I want to buy a house is the fact that my wife would not let me keep investing too much all at once into anything else, I have already done small by small into crypto and can't grow to a retirement level this way, so I need to make a big investment to get it done. If I told her that I am buying a house, she will definitely see that as a possible profit maker and I could rent it and even use that as collateral to get another loan in the future, 10-15 years down the road if I have some more crypto savings and can buy another house with some of it from crypto and some of it from the loan.
However, sometimes you have to consider how you can spend your money and who will say what. I do not have NEAR enough to buy a house, it will take minimum of 4 more years by saving with the hopes that it will be 200k by the end of that 4 years. So, if it is not 200k per bitcoin, then even 4 years is not enough and will have to wait until it is there.
The reason why I want to buy a house is the fact that my wife would not let me keep investing too much all at once into anything else, I have already done small by small into crypto and can't grow to a retirement level this way, so I need to make a big investment to get it done. If I told her that I am buying a house, she will definitely see that as a possible profit maker and I could rent it and even use that as collateral to get another loan in the future, 10-15 years down the road if I have some more crypto savings and can buy another house with some of it from crypto and some of it from the loan.
A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans. I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.
It is difficult to reach new ATH for this month, market conditions have forced bitcoin to correct until now, the pause in the recovery has not seen the maximum, this condition further emphasizes that reaching new ATH is not possible, but in the long term the possibility of bitcoin reaching new ATH is very open, so I guess for January and February bitcoin will not reach the new ATH, however the correction phase has not recovered so far. Jump to: