First bull run - how to not sell too early? - page 3.

BIT-BENDER

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Any advice or individual plan when it comes to selling in bull run?

Honestly advice? What's most certain to happen next year is the Bitcoin halving, about the bull run, considering many factors and history there are good chances that due to the Bitcoin halving we should have the bull run. This are what you should consider when trying to come to a decision, personally I don't have any reason to sell Bitcoin because the next bull run won't be the last and selling only to buy again is funny to me.

Also let's say you have X amount of Bitcoin and then because of the bull run you sell of all your Bitcoin is that the end of your journey in crypto leaving out the financial system progress Bitcoin and the decentralized system has achieved and would achieve more even further.

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One thing is being able to invest in bitcoin and another is being able to take profit at the right time. The difficulty is either taking profits too early or delaying profits and falling back into the bear market, which is what happened to some people last bull run.
Initially, I have had a wrong exit plan. I decided that once there is a new ATH, I will exit the market. But I read an article that proposed that it is better to exit the market in a DCA market. I mean selling in percentages, rather than exiting the market at once. So if you would learn and apply the method.

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Any advice or individual plan when it comes to selling in bull run?

Set your own target price to sell. Once it's still not achieved, then never decide to sell. Although we don't have any real idea as to what's the amount for the new all time high, but at least we should set our selling price higher so we won't be selling too early. Also, focus on bitcoin and invest for long term, to the extent of forgetting your investment at the moment and just try to access it when you see the market is starting to be bullish. That way, you will avoid selling your bitcoin at a rush, as there are bigger profits waiting ahead.

And the best thing to do is follow the DCA method. You will never be wrong with it. Just buy every time you get some spare money, which means even if the price drops low, you will never be bothered knowing you are in for a real long term investment.

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Quote from: JamesDaniel90 on October 23, 2023, 05:54:28 AM

I am hoping I have a good bull run with the altcoins I have and then I may look at buying a full Bitcoin at some point.

Bro, is this a typo or what?, you'll buy a full bitcoin?. During the bull run, bitcoin price is going to be much higher than it is now and considering the fact that you don't have much like you clearly started, how do you intend buying a full bitcoin when its price will probably skyrocket to $60k or more?.

I'll advise you to set achievable goals. You can buy fractions of bitcoin and the best time to but them is now, so it will appreciate during the bull run. Waiting for the bull run before investing is risky, bitcoin may be very expensive by then and you'll miss out on the party big time. You might not get much gains, if even you'll get any.

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Coming to the current period of the market, old investors are seeing new arrivals and new investors are getting ready to invest again. After being down for a long time, this time of the year, the market has gone up a lot and it seems that the market will go up a lot more. Seeing such potential in the market, new investors are confident to invest and old investors are planning to hold their investments for a longer period. Investors should be patient for some more time as investors have been able to endure the bad times of the market till now. Now seeing that the market is in a good condition, the investors sell their investments and after they sell, if the market rises again, they feel very bad, so you still hold on to your investments.

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Quote from: Peanutswar on October 25, 2023, 07:47:14 AM

~snip~

Applying Hodl or trading is a choice that must be made. Active trading depends on the trading knowledge you have. If your trading knowledge is still not good and you cannot create a trading strategy or read a chart, then choosing Hodl would be better. But it requires patience and capital that must continue to be added to carry out DCA so that in the long term it can provide quite large profits. If you only hold a few assets it won't be worth it for a long time.

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

If you think that you can catch the top of the bull market or anyone can give you advice on selling on the top, then you are wrong about it. You can never sell at the top. The best way to sell in the bull market is first to wait for the price to go above all time high, see the price movement closing and try to sell in parts as we climb the milestones in the price discovery mode.

Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Be clear in your mind that you are here for long term investment and these dips should mean no value to you. Remember if your portfolio is down even by 80% or more, you are NOT at a loss, unless to sell at that moment. Just stop looking at the Bitcoin price and your wallet portfolio for the time being, so you do not make any wrong decision out of your emotions.

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Quote from: AakZaki on October 25, 2023, 01:29:14 PM

Quote from: TakeItEasy on October 24, 2023, 01:28:06 PM

-snip-

Buying bitcoin for a long-term portfolio would be better, I have been buying bitcoin and accumulating it since the price was below $20k and it has provided quite good profits until now. The target I want to achieve is still quite far away, $40k is still very minimal and it will still happen at the end of the year or next year. To do daily trading I also use BNB and ETH, it is only to support my daily profits and for the long term it remains Bitcoin.

I've been accumulating since the end of last year and until now I'm still doing it consistently. Having bitcoin as an investment to fill a large part of a long-term portfolio is recommended - in fact I have no doubts about its future potential even though I have seen how bad the bearish impact in 2022 can be.

Bitcoin's halving is expected to drive more demand which in turn could support its price rise - however I hope they can avoid short term volatility even if the 5% - 10% rise in the last 7 days is worth it. Accumulate and hold for the long term - I think the risk will be worth the return.

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Quote from: JamesDaniel90 on October 24, 2023, 05:34:49 AM

Quote from: Pandu Geddon on October 23, 2023, 08:55:11 PM

Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

What is your real purpose in holding assets when your target is just to break even? Are you too afraid when you can't see your investment making a profit? all you need is patience and don't be tempted by the break-even target. Make a profit target, even if it's not big. but try to be consistent with your target.
If you give up just returning your capital, it means there is no point in putting your money in your investment assets. you just waste your time to put your money to sleep without progress.

I did not say my target is break even. My target is to at least 10x my portfolio.

I said getting back to break even will feel big for me as i have spent all of my crypto journey up till now at a loss.

Then the best thing to do is to hold and wait for the moment it comes (bull run). You can never make an early sell, if you know your target and know that you are aiming for at least 10x from your investment capital, then must calculate it now. But the question is if you are buying potential coins because that is certainly achievable but if you are buying those in hype and shitcoins, you will just fail.
That is why investing should be planned very well at first - choosing coins and terms of investments.

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Quote from: AakZaki on October 25, 2023, 01:29:14 PM

Quote from: TakeItEasy on October 24, 2023, 01:28:06 PM

Bitcoin is now at a better price and If you want to invest, you can take it a step further. The $35k price is good as before it was $26k, so still can take an entry as many are saying it will go to $40k. But we can just take suggestions from others although we have to look at our strategies. That is what is suitable for us and what is the best price to take an entry. To get up your portfolio, you should start day trading with the investment you hold.
As previously you are also at a loss, so I don't think that holding in here will be a better choice for you. You can go for day trading but that should also be in coins like Bnb, Ethereum, etc. Not in the meme coins and if you are a good trader you can go for the bitcoin if you have a bigger portfolio indeed.

Buying bitcoin for a long-term portfolio would be better, I have been buying bitcoin and accumulating it since the price was below $20k and it has provided quite good profits until now. The target I want to achieve is still quite far away, $40k is still very minimal and it will still happen at the end of the year or next year. To do daily trading I also use BNB and ETH, it is only to support my daily profits and for the long term it remains Bitcoin.

Day trading is only good if you are actually capable to do it but if you are still hesitant, then never push it through. You can always chose to hold bitcoin for long term but the problem is, you are not going to take profits at the moment. But as a suggestion, its better that way so that your investment will not be prone for quick losses and you'll still be able to ride with the bull run when its already happening.

If you aim for a bigger portfolio in bitcoin, DCA would only be the safest option. It's way safer than day trading most especially if you are still an inexperienced trader.

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Quote from: Kasabus on October 25, 2023, 03:46:53 PM

Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Any advice or individual plan when it comes to selling in bull run?

The only reason why people resort into selling their coins too early is the greed for quick profits. If their mindset works like that, then they will never achieve financial freedom no matter how hard they try to make their investments work. Once they don't trust their investment that much and they are afraid to lose their capital, then they will never be successful in their crypto investments.

Not only that, the lack of source of fund for their daily need is also the one of the major reasons why people are forced to sell their stash prematurely. Another reason is the lack of trust to the market and wanted to exit with profit.

Quote from: Kasabus on October 25, 2023, 03:46:53 PM

Preparing a plan before investing is crucial. Set your own stop loss or set your desired profit goal and once its achieved, stick to your plan. If you change plans suddenly, most likely you're up for a big loss or the other way around, you'll experience unexpected profits.

Nothing beats a well planned investment. One must know his own financial ability and the movement of the market. Planning an investment is a must so that one can avoid unnecessary losses that can be prevent if an investor had made plans and alternate plan if the main plan fails.

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Any advice or individual plan when it comes to selling in bull run?

The only reason why people resort into selling their coins too early is the greed for quick profits. If their mindset works like that, then they will never achieve financial freedom no matter how hard they try to make their investments work. Once they don't trust their investment that much and they are afraid to lose their capital, then they will never be successful in their crypto investments.

Preparing a plan before investing is crucial. Set your own stop loss or set your desired profit goal and once its achieved, stick to your plan. If you change plans suddenly, most likely you're up for a big loss or the other way around, you'll experience unexpected profits.

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Quote from: AakZaki on October 25, 2023, 01:29:14 PM

Quote from: TakeItEasy on October 24, 2023, 01:28:06 PM

Bitcoin is now at a better price and If you want to invest, you can take it a step further. The $35k price is good as before it was $26k, so still can take an entry as many are saying it will go to $40k. But we can just take suggestions from others although we have to look at our strategies. That is what is suitable for us and what is the best price to take an entry. To get up your portfolio, you should start day trading with the investment you hold.
As previously you are also at a loss, so I don't think that holding in here will be a better choice for you. You can go for day trading but that should also be in coins like Bnb, Ethereum, etc. Not in the meme coins and if you are a good trader you can go for the bitcoin if you have a bigger portfolio indeed.

Buying bitcoin for a long-term portfolio would be better, I have been buying bitcoin and accumulating it since the price was below $20k and it has provided quite good profits until now. The target I want to achieve is still quite far away, $40k is still very minimal and it will still happen at the end of the year or next year. To do daily trading I also use BNB and ETH, it is only to support my daily profits and for the long term it remains Bitcoin.

This is a good price if you had bought below $20k, I think now you will be in a decent profit if you had bought more. These are the better strategies a trader should take care of. The main thing is the entry prices, if a trader has some ability to know the entry prices at which price the coin should be bought then this trader will be successful, but if he doesn't even know what he has to do when the market goes green and he didn't think even react when the market goes red. Then this thinking should be changed I think for every trader who wants to see himself successful in every trade, I mean in most trades.
Can you please tell me how much you had invested when you were buying bitcoin at that price? For daily trading BNB is still the best option, carry on with these too, you still have a lot of time before the bull run and it is coming. Best Luck!

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Winding down.

Quote from: ImThour on October 23, 2023, 05:59:34 AM

You do not sell until and unless your co-workers who never knew about Crypto are asking you or searching on how to buy Bitcoin or how to invest in Cryptocurrency.
That's the best signal out there to sell your stash and wait for the prices to calm down. This is what that actually worked for me in 2021 Bull Run when my friends asked me about Crypto.
And this thing will work for any X amount of years to come.

Well, people who have no idea about bitcoin will definitely come in rushing to invest in bitcoin when they see the market is very bullish and the price is inevitably surging high. For them, it's certainly not the right thing to enter the market, but for you its' the perfect time to sell for you to achieve massive profits. Knowing when to sell and knowing when to hold still is very crucial in the market because that only means that you understand well the type of investment you enter, and not because you are just riding with the hype.

However, its for you to decide whether to sell them all or hold continuously a portion of your bitcoin investment knowing it will be another all time high for the next bull run. But you can actually decide to sell them all and just buy back again when the market has eventually return to its bearish season.

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Quote from: TakeItEasy on October 24, 2023, 01:28:06 PM

Bitcoin is now at a better price and If you want to invest, you can take it a step further. The $35k price is good as before it was $26k, so still can take an entry as many are saying it will go to $40k. But we can just take suggestions from others although we have to look at our strategies. That is what is suitable for us and what is the best price to take an entry. To get up your portfolio, you should start day trading with the investment you hold.
As previously you are also at a loss, so I don't think that holding in here will be a better choice for you. You can go for day trading but that should also be in coins like Bnb, Ethereum, etc. Not in the meme coins and if you are a good trader you can go for the bitcoin if you have a bigger portfolio indeed.

Buying bitcoin for a long-term portfolio would be better, I have been buying bitcoin and accumulating it since the price was below $20k and it has provided quite good profits until now. The target I want to achieve is still quite far away, $40k is still very minimal and it will still happen at the end of the year or next year. To do daily trading I also use BNB and ETH, it is only to support my daily profits and for the long term it remains Bitcoin.

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It's your first bull run and this ride can be stressful with the market volatility, better to make a plan with your investments, are you willing to join the hodl team or keep active in trading whats your preferences.

Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

You still have your unrealized loss because you are still holding your assets once you sell those into other currencies that's considered a loss, it's good if you keep holding your assets and wait for the next year all all-time high.

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Any advice or individual plan when it comes to selling in bull run?

Well just wait for it, I mean in 2017 Bull run, the ATH was December, and in the last bull run, is was November. So somewhere along that month, maybe in 2025, we will see a new all time high. Maybe it's 6 digit so who knows.

So I guess with that, just continue to HODL and mentally tough not to sell early. The best time to sell would be November-December in my opinion.

And I remember on the last bull run, it hits $50k+ and everyone says that it's the all time high already. But it continue to grow, just saying. Or if you wanted to, then sell some if you need to and not wait and time the market for the new all time high.

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Any advice or individual plan when it comes to selling in bull run?

Selling during a bull market is not an easy decision especially if you only have a few bitcoin that you hold, so you have to have other stable income out there so that you don't have the excuse of being short of money to sell the bitcoins you have during a bull market.

but a little advice from me, if you really want to sell the bitcoin you hold then sell it little by little, for example you sell 35% at the beginning but when the bullishness persists you do another 35% second sale of the asset you own. In conclusion, don't sell all the Bitcoin you have during a bullish market.

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Some people have the right tools for tracking the top and the bottom of the market and they have been using such tools for years, I know these tools are subscription based, maybe monthly or so that's why they aren't available for millions out there, also if its widely available, how will they make profit out of others because all decisions will be the same.

There is one I know called blocknode or something similar, where it display the top of the market and the bottom, it's very accurate as it shows the past market cycle too, I believe this isn't any form of prediction, it's too accurate.

For average investors that don't have the right tools it's better to make up your minds and think about what you want in this market, a 10x or 30x? Then work accordingly to making that dream come true, normally I don't expect more than a 5x from Bitcoin, so I will be taking profit from that range, or even under, but for altcoins I will definitely be making more, since you will have more than one asset in your wallet, you can decide to take profit starting from every 10x es.

You can leave some for 20x profit taking and so on, just have a strategy before bull market gets here.

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Quote from: JamesDaniel90 on October 23, 2023, 04:21:48 AM

Next year will hopefully be the start of the bull run and it will be first for me so just wondering if anyone has any advice/tips on how avoid the temptation and not sell too early?

All I have experienced so far in Crypto is bear market and with the market showing good signs over the last few days its made me realize that I am not used to the good times and I want to have a plan in place for when the bull run returns.

Even after the good few days recently my portfolio is still down 17% overall and at the worst I think it was 50% down so just getting back to break even will feel big for me but need to remember I am in this to do a lot better then break even.

Any advice or individual plan when it comes to selling in bull run?

Bear season is essentially meant for investing, that's the period we bagged promising coins for the purpose to triggered sell button when the bull finally arrives. There's nothing so special about the system, rather we should keen on making corrections of our past mistakes and keep pushing for excellent results. Selling in the bull run is a good plan and also a golden opportunity because not all traders are opportune to reap significant profits in the system. Like I often do, place some advise to my colleagues who are into the crypto space with me, "Don't be a rush to sell and also not be a hurry to buy" these statement alone have saved most of my colleagues and myself from regrets and it's quite supportive to know about it in the system.

Topic: First bull run - how to not sell too early? - page 3. (Read 787 times)