First bull run - how to not sell too early? - page 5.

Pandu Geddon

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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.

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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?

Just have plan on what price you want to sell your coins. Control yourself not to monitor the market often, so even we're already in bull run you can refrain yourself from selling. However, don't be greedy because you might missed the right time to sell. Next thing you'll know the bull season is already over.

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

I do not own any Bitcoin yet only altcoins.

Well in this case, if you had the chance to take profit don't hesitate to sell. I thought we're talking about Bitcoin here because alts are more risky. You're not even certain if the alts that you currently hold are able to bounce back once the bull run is there. Thus, just sell if you made profit already, then next time, prioritize buying Bitcoin.

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Take profit when you see the price line of Bitcoin starts to be heated up to the red bands of Mayer Multiple Bands.

https://charts.bitbo.io/mayer-bands/

You might not know where is a new all time high, a highest price of 2024 and 2025 bull run but if your plan is only take profit in a next bull run, don't want to miss it, don't want to wait till 2028 or 2029, you might consider to take profit with price in red bands.

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Quote from: LogitechMouse on October 23, 2023, 05:09:15 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?

Self-control, discipline, patience.

Do you think that there's some kind of tips that we can share to you, and you'll just follow it? No it's all learning how to make yourself better. Being discipline enough will make you more patient, and that will also make you stick to the plan that you made... that is you have plan with regards to selling during the bull market.

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

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

Having a selling targets would be a good strategy, and since I will also sharing it when bull run starts, might as well share it with you.

Put prices where whenever it reaches that price, you will sell a portion of your holdings. I think there's no need to further explain it. Just have 3 or 5 selling targets, and don't sell it at once or else, you might lose the opportunity to earn more profits if Bitcoin's price goes up even further. If there's DCA in buying, there's also DCA in selling. That'll do especially if you're a newbie.

Know your targets well and the reasons why you are aiming such price level and assess if you can afford waiting for such period.
The very reason why most are selling and breaking their goals is that they are being left behind when fud attacks or they have urgent needs with their funds.
People panic and so they sell because of their worries about what will happen to the market. Not remembering why they are here in the first place.
Every once in a while, evaluate your financial situation, this will help you decide whether you need to sell early or not, or follow your targets.

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Quote from: cheezcarls on October 23, 2023, 03:47:15 PM

If I want to sell my Bitcoin, I would only sell the profits and keep the capital when it has reached the targeted price that I want and not being so greedy. So as of today, it's not a good idea for me to sell early yet as I am still within the break-even price during the first few months of doing DCA.

This is exactly what I referred to as having a plan and targets. Personally, I am looking more on the quantity of Bitcoin I plan to own at certain stage in my life and I'm not much bothered by the price. I am also applying DCA to accumulate to that target. There will be no time in my life that I will stop owning Bitcoin as Bitcoin will be one of the things I pass to my heirs.

Quote from: Rikafip on October 23, 2023, 03:54:48 PM

Quote from: Odohu on October 23, 2023, 04:28:50 AM

Before getting into Bitcoin, you are supposed to have your plans and targets as that will guide you in your decision making.

Its one thing to plan something, and entirely different thing to actually act on it. As someone who went through several bull runs, I can tell you that exactly 0 times I acted as I planned before. Thing is, before every bull run I set some targets at which I plan to sell part of my bitcoin stash but every single time I sold way less than I supposed to and chances are that the same thing will happen next time as well.

What can we say is the reason you could not follow your plans in each of those bull run? I feel that if someone plans to own Bitcoin 2024, 2028 and beyond, this will guide your decision making as regards selling in 2024. One option could be to sell some portion when you are convinced price has peaked and leave the rest to run. Another option could be never to sell if you don't have needs of the fiat or feel you cannot replenish your portfolio when there is retracement.. there are people that will go with this option. So, I still feel it is all about planning and we should do our best to follow the plan irrespective of the urge to deviate.

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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?

Self-control, discipline, patience.

Do you think that there's some kind of tips that we can share to you, and you'll just follow it? No it's all learning how to make yourself better. Being discipline enough will make you more patient, and that will also make you stick to the plan that you made... that is you have plan with regards to selling during the bull market.

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

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

Having a selling targets would be a good strategy, and since I will also sharing it when bull run starts, might as well share it with you.

Put prices where whenever it reaches that price, you will sell a portion of your holdings. I think there's no need to further explain it. Just have 3 or 5 selling targets, and don't sell it at once or else, you might lose the opportunity to earn more profits if Bitcoin's price goes up even further. If there's DCA in buying, there's also DCA in selling. That'll do especially if you're a newbie.

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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?

You can do this...
- have a target price - tried to set at $60k
- be patient as we still need to wait 1 year or even more
- don't get fooled by the FUD's

It is all about how we make an approach to the current situation. All we have to think is that the next bull run is possibly high compared to the previous price, so we already have an idea of when to sell. But of course, we don't need to wait for the ATH because we never know when it comes. It is enough for us to earn a profit rather than be greedy but the consequence is we also miss the pump.

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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?

Just don't focus about to sell early since its more better than selling late. Let your experience be so good and don't let yourself feel greedy for wanting for more profit since there are so many people experience a huge loss for that situation where instead they already gained their profit it turns out that they are losing because they are late to take their profit then suddenly bearish condition occur or what other call correction time is replacing the hype.

But if you wanna feel or test out this bull run and can able to handle some certain pressure then you can able try what would happen on your investment next year for experiment then feel the people sentiments so that you would provably got an idea on where is the right time to execute this sell orders and get out while market is in bull run.

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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?

I doubt it that you can avoid the temptation whenever you see the price goes on high. Selling too early is fine as long as the price you're about to sell is a profit already for you. But if you insist then all you need to do is set a price and then stick to it just for you to follow that plan of yours of not selling too early. You will learn it on the process when the actual bull run comes because excitement is there, the happiness that your portfolio has grown a lot is there and you'll be happy to sell it and if ever you do just think that you're satisfied from doing so. No regrets when you sell and you think of the important thing you'll buy next from the profit you make from this bull run.

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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?

Nothing we say now won't mean much once bull market starts. Instead worrying about selling too early, more common mistake is selling too late (if your plan si to cash out) so try to focus on that part.

Quote from: Odohu on October 23, 2023, 04:28:50 AM

Before getting into Bitcoin, you are supposed to have your plans and targets as that will guide you in your decision making.

Its one thing to plan something, and entirely different thing to actually act on it. As someone who went through several bull runs, I can tell you that exactly 0 times I acted as I planned before. Thing is, before every bull run I set some targets at which I plan to sell part of my bitcoin stash but every single time I sold way less than I supposed to and chances are that the same thing will happen next time as well.

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Holding BTC is the best bet for the upcoming bull run, but always have to set realistic targets on the price that you wanted to sell your Bitcoin.

As I am doing DCA (dollar-cost averaging) on Bitcoin, I do not really mind about the price movements as I'm thinking long-term with it rather than day trading.

If I want to sell my Bitcoin, I would only sell the profits and keep the capital when it has reached the targeted price that I want and not being so greedy. So as of today, it's not a good idea for me to sell early yet as I am still within the break-even price during the first few months of doing DCA.

My mistake years ago was giving up on BTC for the most of 2020 when I converted it to USDT at the time it's price was just $12k. A month later BTC went wild skyrocketing to beyond $20k and up to $30k before Elon Musk came in and the price went to as much as almost $70k before getting crashed.

The decision would be always on our instincts no matter what and not in the hands of others.

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There are no set rules to identify the bull market peak but there is some common behavior in the market that appears every bull run. Usually in the bull market money flows from bitcoin to major altcoins, then mid rage altcoin and at last to low cap altcoin. When this scenario appears, the whole market sentiment becomes overconfident and you will see every influencer and their youtube channels making positive video about bitcoin. You will see overconfident to the market and whale use this time to crash the market to trap new investor at the peak.

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We all want to know the perfect moment to cash out for maximum profits. The frustrating truth is there's no magic number or crystal ball to predict what the markets gonna do next. At the end of the day, it comes down to you and what you're comfortable with and

first, take a good look at your goals. How much of a profit are you really hoping for here? Have you decided on a target number that you'd be happy with - say doubling your investment? If so, then maybe take those gains and run when you hit your goal. But if you have bigger dreams then strap in for a longer ride and see how high this thing can go. Patience pays off sometimes in crypto world.

That said, it never hurts to lock in some profits while still leaving yourself room for more potential growth. Many savvy investors use a strategy like this to balance taking profits and chasing further gains. Do what feels right for your situation. Just be honest with yourself about what you want and dont get too greedy waiting for the perfect exit. The reality is there's no perfect time - you've just gotta pull the trigger when the time feels right for you.

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Quote from: Shishir99 on October 23, 2023, 07:48:52 AM

If your whole portfolio is only altcoins, then there is no point in holding it for a long time. If you see you recovered your loss already, sell a portion of your holdings every two weeks. If you had Bitcoin, the suggestion could have been something else. Everyone has a target I guess. I have a target that I won't sell until Bitcoin touches the 80K mark. You might have your own target.

If you reach your desired price, do not wait for a further pump. People usually hold longer expecting it will grow more and more. But the process is no infnite, it will start collapsing at some point.

I will not give him such a suggestion to sell after every two weeks, even if we are talking about Alts or talking about BTC. And his portfolio is still down 17%, which means, he is not in the position to book some of the funds, instead, he should wait further because the overall market will come down again to retest its supports and at that time OP will think he should have booked his investment even at 17% down.

But, look at the bigger picture, which is to hold those funds for a longer period of time, if OP will abled to do that, he might be making 3x or 10x on his investment, because BTC has the potential to give the maximum of 3x and minimum of 2x but in alts, we can make 10x if we have chosen the right one.

Now all the game revolves around the alt token that OP has selected for holding purposes, and the best way for OP to avoid getting thoughts of booking profit is to move funds from exchange to some non-custodial wallet, where you cannot trade them quickly. For example, if you will move funds to the Trust wallet, then to make trades you will have to send funds again in Exchange which will cost you some fee and you might not want that.

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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?

I think first of all you should look at your investment how much you have invested in which coin. It is not necessary that all the coins you bought will be pumped as soon as the bull season starts. Some projects may give you quick profit, and some projects grow late. If you get a good profit, you can sell the crypto currency. How can your portfolio be down 50 percent if you have only seen a bear market in the crypto currency market so far?

Now that the market is recovering and your portfolio is still in losses, This means you've bought as soon as bear season starts . some people start buying as soon as the bear season starts and some people start selling as soon as the bull season starts. Therefore, it is better to be patient and wait for the right time and opportunity where you get a chance to sell at a good profit.

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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?

It is obvious that we should hodl and have patience. Halving is yet to come but the market is starting to uptrend, if you are still at a loss, there is nothing you can do but to wait for your investment to profit. I do not know when you had purchased your Bitcoin but it was predicted that a year after halving Bitcoin often break its ATH so I believe you have to endure the temptation of selling your Bitcoin for another year after the halving event happen.

You can try to day trade but it is not advised for an individual who don't have enough knowledge on trading since there is a risk that you might sell at a loss and fail to repurchase if the market move against your expectation.

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Quote from: JamesDaniel90

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?

Anything can still happen before the end of this year OP becaus, the price of BTC is still on spend to surprise people like you that feel bull run will not show up this year so that you will enjoy your first bull that will increase your moral to invest more on BTC when the bear occur again. If you don't want to sell early just apply long holding and, it will help you to break some fear that is affecting you not to be part of those that is enjoying bull season.

Quote

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

Never you rush to sell your coins when the bull is not yet mature in the market like what is about to happen soon, that will make both long and short holders to smile again. once the price of BTC hit $50k many holders mindset is to sell immediately not knowing that the price will continue increasing till next year before it will decrease down and, it will cause them pain because they didn't exercise patience at the moment

$crypto$

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

I do not own any Bitcoin yet only altcoins.
I only have a small amount to invest so do not see it worth it for me investing in Bitcoin for maybe a 4 or 5x return in the bull run , I want more.
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.

You're risking with more risky altcoins, but I know it's your right to choose which ones you want.
Even if the amount invested is small, is it okay to choose bitcoin? But you just want more profit maybe 10x or 20x but you have to be good at choosing altcoins otherwise you will be stuck in the wrong altcoin in the sense that it does not pump big later.
I think you have to determine the target profit ... If you want more then wait until the bullish arrives.

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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?

I probably won't say anything original, but I think you should know it.

- Don't try to “catch” peak prices in order to sell for maximum profit.
- Sell in several stages in parts in order to average the price indicators, because the first point (above) is almost impossible to implement.
- Choose several levels of price indicators at which you will sell bitcoin and do it at these values. That is, draw up a sales plan.

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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?

Don't often open sites or applications to see price charts.
Set a solid mindset that if you sell today then you will lose because your goal is to make a profit.
Stay away from news and information that makes your feelings of anxiety increase. Usually FUD is spread to make market prices fall.
When the price has reached your desired profit target, the decision to sell is made.

Topic: First bull run - how to not sell too early? - page 5. (Read 811 times)