Topic: Defending your profits without timing the market (Read 352 times)

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

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...

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.

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.

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.

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

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.

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.

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.

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.

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.

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

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.

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.

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


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


truth


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

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.

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


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.


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.

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.

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.

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

unfortunately for altcoin outside of top 100 coinmarketcap didn't effected with bitcoin bullish moment.and even these coins dumped alot due to their investors prefer to hold bitcoin.but i am sure someday if they developt their projects well its price will recovery again.

I guess this tone of bitcoin pulling back and dropping so low would gradually be fading out now as BTC keeps shocking people with its unbelievable price jump and I what made bitcoin suddenly start jumping and running so fast on this bull lane, hope we are safe.

Holdlers are really the ones that will enjoy more this time, because those who are taking profit will really be finding it hard now to buy back again, as the sharp and fast increase is causing them confusion on when to buy the coin again, they are unsure if there will be a correction or if the price will continue to surge, that is why there is nothing as peaceful as holding.

The current market is totally different so we are all earn good profit in short term. At the same time some peoples are depends on daily uptrend so they are all concentrate more in this platform. I think this year all are earning good profit so those are waiting for the altcoin pump surely it will possible soon.

I'm one of that guy who bought bitcoins when the price still $6k and hold it until today, even the bitcoin price is at $8,000 right now.

I'm also same like you, always take 10-20% of the profits and keep it the rest. With this bullish market, i usually hold more and wait until a good timing to take all profits.

It is on way to mark the 10k USD value only but you feel this short bull run. May I know, how come you can speculate like that?

When the market moving like a rocket we should try to use such value now and convert it for fiat if you do not have faith. People whoever having faith will definetely know the price surge of bitcoin.
This year bitcoin will hit 10k USD or even more for sure.

Huge bull run? I don't think so. I would call this a mini bull run and am expecting a big one sometime next year. Don't worry about the value going down since it might correct itself here and there, but will continue surging slowly and steadily and might touch $10K by the end of this year.

Although the huge bull is happening in this day, we still are careful because the red candle still on the market and it could happen in anytime.
Yes, we are making a nice profit for this day, but it doesn't mean that the situations will be the same tomorrow.
But if we check on the market situations now, we have a chance to see the next increasing of the price in the next few hours later.
We need to take the profit right away before the price is down without we know when it will increase again.

I believe that what you are doing isn't called margin trading since it involves you borrowing/lending money out for a loan in order to trade in assets, you might just be re-investing your profits earned from trades in order to accumulate more when it has bottomed out. This is a popular approach for traders who aren't willing to add more additional capital to trade they just rather sell high and buy low to accumulate again and for the type of market we have this is a an ideal strategy for a lot of traders to profit at the same time accumulate more position.

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.

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.

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.

You may be lucky to have seen gains in recent hours but the price has been stable since November last year.
Converting 30% without setting a suitable time will result in your loss, you should choose the right time to enter the market especially with the return of violent volatility again.
If you focus, each point is good to be considered as a start and then build profits on it. This strategy is acquired and not learned through channels.

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.