Defending your profits without timing the market

Mr_Akbar

member

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Quote from: bitgolden on May 16, 2019, 05:45:51 AM

I am happy to hear this from you, I just hear many people say take profit, they don’t consider the fact that once you take profit, you have to look for another good time to put the capital back, and deciding when to enter a market in this unpredictable time has been quite not so easy.

You might pull out now to take profit and expecting correction to occur for one to buy back, but it might go the other way of bull as you said, and except one is just lucky enough to just make decision based on believe that wherever point one is buying back from, it will still go further from there.

Yea, you're right that you have to time the market to get in and out in some way, but the purpose of the post is to describe a strategy that encourages reasonable profit defense without having to worry so much about making the best timed trades. With a deep understanding of how markets work, it is possible to get better at that on your own. However, that's going to be an uphill battle against all the misinformation out there.

I choose to accelerate my path by learning with Voodoo Crypto. They taught me more as a trader than I could ever hope to share, but I'm doing my best to do just that.

edit: broke the quote, fixed now

Mpamaegbu

legendary

Activity: 2716

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Once a man, twice a child!

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

My personal strategy is to bank 30% of the profits from each trade into cold storage BTC, locked away for decades to come. When it comes to USD/BTC movements, I prefer to margin trade to accumulate BTC rather than cash out for dollars.

I just had to put that in bold for it caught my attention. The way we say these things as if we own a breath of life. Bitcoin is barely a decade and we don't know if Satoshi is still even alive after his creation became a phenomenon. Yet you talk of securing something for decades to come.

Life First in Everything We Do...

lovesybitz

sr. member

Activity: 868

Merit: 289

In getting profits through trading was too difficult if your not well verse in it. But if your old here in this industry, We had our won way to make profit here, depending on how We analyse and read the chart in the graph. Because We as a traders We should know how read the candle stick anyhow and know to use and to apply technical analysis and lastly timing is the best in it for us to gain big.

bitgolden

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Leading Crypto Sports Betting & Casino Platform

Quote from: Thanasis on May 15, 2019, 02:04:32 AM

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

Congratulations all around for weeks of gains and a couple days with some really exciting price action! For anyone who bought sub 6k, that’s some nice return on investment. With those kinds of numbers, it’s natural for you to want to take some profit.

If you’re someone who will actually hodl through the next six bull/bear cycles, I commend you. If you’re a mere mortal like the rest of us, having a plan for how you take profits is the first step towards building a secure future for your family.

My personal strategy is to bank 30% of the profits from each trade into cold storage BTC, locked away for decades to come. When it comes to USD/BTC movements, I prefer to margin trade to accumulate BTC rather than cash out for dollars.

Some people may prefer to take profits in USD or other currencies. If that’s your end goal, that works too. The strategy can be personalized to your needs, but the key concept is that a self tax on trading income is a solid way to defend your profits.

One strategy that often floats around is the idea that at some (generally poorly defined) point you should cash out and attempt to rebuy at some (equally poorly defined) point lower. As tempting as this may be, trying to time the long term market with sufficient accuracy is like throwing a dart at a moving dartboard in the dark. Strong technical analysis might turn on the light, but ultimately even just hitting the board isn’t a given.

If you want to learn more about trading strategies, check out Voodoo Crypto.

Looks like there is a slight correction after the huge bull trend but if we cashout now means we will find the bitcoin more expensive once the prices starts to be bullish again so just be patience and wait for the huge bull to arrive on the upcoming months or even in weeks,don't expect to make profits in days from your investment.

I am happy to hear this from you, I just hear many people say take profit, they don’t consider the fact that once you take profit, you have to look for another good time to put the capital back, and deciding when to enter a market in this unpredictable time has been quite not so easy.

You might pull out now to take profit and expecting correction to occur for one to buy back, but it might go the other way of bull as you said, and except one is just lucky enough to just make decision based on believe that wherever point one is buying back from, it will still go further from there.

qmclak

jr. member

Activity: 275

Merit: 2

"Trade with profit"

Truth better get more profits now , 30% from our profit go to usd and the rest will go to alts and diversify our portfolio.I think it's a good Idea too.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: Pamadar on May 13, 2019, 12:38:12 PM

Quote from: jrrsparkles on May 13, 2019, 12:06:06 PM

Quote from: ?? on ??

I believe Op is the shorting type. I can see he is shaky and indecisive to wait longer Grin

well it is understanding when you have been at losing end since price was bear. I would wait longer and I think that is how the market is going.

In few hours we are seeing another huge bull movement on the price of bitcoin so yes we need to wait more for more profits.

Looks like this is just the beginning at the end we will see the current price as nothing.

That's ongoing right now, we are continuing to see the bull really making everything up, Bitcoin or any Alts needs to be reassess as you'll going to regrets everything if you failed to follow what trend will be in the next few days or weeks, think for much higher outcome.

but securing profits is important too, we must have a backup plan, for example if the price falls back, at least you already have 30% of the profit you save.
but many people seem dare to take big risks. many people think that the greater the risk, the greater the reward that will be obtained

leowonderful

legendary

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Bitcoin FTW!

If you’re trading BTC to stablecoins to lock in profit, make sure you convert whatever stablecoin you’re using to fiat as soon as possible and you don’t hold the stablecoin for an extended period of time. Even though there’s plenty of stablecoins out there now like USDC that claim each one of their coins or tokens are backed by a real US dollar, you’re still better off exchanging that to fiat quickly to minimize risk.

maxreish

sr. member

Activity: 1330

Merit: 326

OP, I respect your decisions and we have different tactics on how we can manage our profits. Yours is the usual thing a trader do, take out profits and save it. 30% profits is a big profit [well, for me]. I suggest you just keep hodling it since there are many speculators that btc will continue to grow. Though there are still mini dumps but it will still go higher. But i understand that you want your 30% profits to be in a safe place than to lose it while you don't really sure where the market will go.

anume123

full member

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Proof-of-Stake Blockchain Network

Quote from: Ailmand on May 13, 2019, 01:02:01 PM

Quote from: ?? on ??

I believe Op is the shorting type. I can see he is shaky and indecisive to wait longer Grin

well it is understanding when you have been at losing end since the price was bear. I would wait longer and I think that is how the market is going.

Prices are increasing unexpectedly and it's really surprising and giving us a feeling of too much excitement which is normal. I believe that the prices could still go more and it would never fail us. We can now say that the long agony of waiting will soon be over.

Anyone need some patience and i think this is the right time for us to say that we need to hold and to expect that altcoins can grow up in this year of 2019.

Remainder

hero member

Activity: 950

Merit: 517

Quote from: Indrawan77 on May 15, 2019, 01:24:32 AM

The rising is very good recently and I think its reasonable to take aome profit now because judging from the market condition I believe there will be a pull back, taking 30% profit is a bit too high in my experience, but if you are ready to make it long term I think it can be reach, bull market is the best time to trade and make profit

Pull back will likely happen, but I hope it will not be sooner or later.
We can see a pull back next half of this year and let's continue seeing bitcoin pump, we are in the state of recovery, bitcoin is not overvalued so pull back is not necessary IMO. However, based on the market history or price history, we will likely to see one.

Hopefully it will not last long, and bitcoin will again bounce back.

Thanasis

hero member

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★777Coin.com★ Fun BTC Casino

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

Congratulations all around for weeks of gains and a couple days with some really exciting price action! For anyone who bought sub 6k, that’s some nice return on investment. With those kinds of numbers, it’s natural for you to want to take some profit.

If you’re someone who will actually hodl through the next six bull/bear cycles, I commend you. If you’re a mere mortal like the rest of us, having a plan for how you take profits is the first step towards building a secure future for your family.

My personal strategy is to bank 30% of the profits from each trade into cold storage BTC, locked away for decades to come. When it comes to USD/BTC movements, I prefer to margin trade to accumulate BTC rather than cash out for dollars.

Some people may prefer to take profits in USD or other currencies. If that’s your end goal, that works too. The strategy can be personalized to your needs, but the key concept is that a self tax on trading income is a solid way to defend your profits.

One strategy that often floats around is the idea that at some (generally poorly defined) point you should cash out and attempt to rebuy at some (equally poorly defined) point lower. As tempting as this may be, trying to time the long term market with sufficient accuracy is like throwing a dart at a moving dartboard in the dark. Strong technical analysis might turn on the light, but ultimately even just hitting the board isn’t a given.

If you want to learn more about trading strategies, check out Voodoo Crypto.

Looks like there is a slight correction after the huge bull trend but if we cashout now means we will find the bitcoin more expensive once the prices starts to be bullish again so just be patience and wait for the huge bull to arrive on the upcoming months or even in weeks,don't expect to make profits in days from your investment.

Indrawan77

hero member

Activity: 1274

Merit: 516

The rising is very good recently and I think its reasonable to take aome profit now because judging from the market condition I believe there will be a pull back, taking 30% profit is a bit too high in my experience, but if you are ready to make it long term I think it can be reach, bull market is the best time to trade and make profit

FanEagle

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Leading Crypto Sports Betting & Casino Platform

Quote from: Malamok101 on May 14, 2019, 09:21:36 AM

Perfect timing is to sell it before it will goes down the price it also need a timing with safe strategy than hold it for long-time because we can't expect that price of your coin continuosly gonna pump up.

Selling has never been a problem people as they wish they could always be selling provided they still get a better spot of entry, but the problem is knowing exactly when to sell, imagine that I sold some of my coins at $7000 but shortly after I did that was when the price started spiking up and got to $8000.

I was filled with regrets of if I had just wait a little bit longer, this could have been a very good price for me, now another challenge now that I have sold is to know the entry spot again for me to join in the trade again. So I realized that holding till we confirm that its ATH would be the best before we exit market.

bonker

hero member

Activity: 784

Merit: 502

Each and everyone has a different style of money making so this type of Idea is also been followed by lots of people but I think this will not been suits for lots of people because if they make the money only they can live their life very quickly.

Slow death

legendary

Activity: 3038

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

Congratulations all around for weeks of gains and a couple days with some really exciting price action!

great year and I hope that in the coming months it will be even better.

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

For anyone who bought sub 6k, that’s some nice return on investment.

currently the price is in the $8000, but yesterday had risen to $8400, has been very agitated weeks

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

With those kinds of numbers, it’s natural for you to want to take some profit.

truth

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

If you’re someone who will actually hodl through the next six bull/bear cycles, I commend you.

What do you mean with that: "the next six bull / bear cycles"?

mirawantirinjana

full member

Activity: 700

Merit: 101

to be able to maintain certain profits we must also be able to read the market situation and the right time to trade.
therefore it is very important to do this if you want to retain the assets you have.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

My personal strategy is to bank 30% of the profits from each trade into cold storage BTC, locked away for decades to come. When it comes to USD/BTC movements, I prefer to margin trade to accumulate BTC rather than cash out for dollars.

I don't know how you can accumulate BTC by margin trading.

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

Some people may prefer to take profits in USD or other currencies. If that’s your end goal, that works too. The strategy can be personalized to your needs, but the key concept is that a self tax on trading income is a solid way to defend your profits.

I personally believed that majority would easily take profits this way. There could be for personal reasons, but smart investors would waste money though, sure they will take profits, but at some point, they will go and recycle, and then enter the market again.

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

One strategy that often floats around is the idea that at some (generally poorly defined) point you should cash out and attempt to rebuy at some (equally poorly defined) point lower. As tempting as this may be, trying to time the long term market with sufficient accuracy is like throwing a dart at a moving dartboard in the dark. Strong technical analysis might turn on the light, but ultimately even just hitting the board isn’t a given.

Why not? This might be an old strategy, but it is also applicable in crypto market. Take profits, wait for the right time to re-invest rinse and repeat. I used different plans and strategies and doesn't take 100% profit specially if I don't need it anyways.

agatha90

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Activity: 616

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Very good and clear explanation. Interestingly, if we trade in crypto, we get an unexpected profit. I think bitcoin will touch the price of $ 10000 until the end of this month.

Malamok101

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Proof-of-Stake Blockchain Network

Perfect timing is to sell it before it will goes down the price it also need a timing with safe strategy than hold it for long-time because we can't expect that price of your coin continuosly gonna pump up.

Maxpips

member

Activity: 200

Merit: 16

Quote from: Mr_Akbar on May 13, 2019, 08:07:47 AM

Congratulations all around for weeks of gains and a couple days with some really exciting price action! For anyone who bought sub 6k, that’s some nice return on investment. With those kinds of numbers, it’s natural for you to want to take some profit.

If you’re someone who will actually hodl through the next six bull/bear cycles, I commend you. If you’re a mere mortal like the rest of us, having a plan for how you take profits is the first step towards building a secure future for your family.

My personal strategy is to bank 30% of the profits from each trade into cold storage BTC, locked away for decades to come. When it comes to USD/BTC movements, I prefer to margin trade to accumulate BTC rather than cash out for dollars.

Some people may prefer to take profits in USD or other currencies. If that’s your end goal, that works too. The strategy can be personalized to your needs, but the key concept is that a self tax on trading income is a solid way to defend your profits.

One strategy that often floats around is the idea that at some (generally poorly defined) point you should cash out and attempt to rebuy at some (equally poorly defined) point lower. As tempting as this may be, trying to time the long term market with sufficient accuracy is like throwing a dart at a moving dartboard in the dark. Strong technical analysis might turn on the light, but ultimately even just hitting the board isn’t a given.

If you want to learn more about trading strategies, check out Voodoo Crypto.

No need to cash out and re-buy lower, just keep holding and buy more on the dips.

Topic: Defending your profits without timing the market (Read 321 times)