It's usually pretty obvious. Go into a Crypto chat room. Every 4 years you'll see people talking about buying helicopters and castles. On the news they'll be showing you how to buy into crypto, sitcoms will be making episodes about it, you'll see that get rich quick friend on your facebook feed talking about how he's going to be a billionaire...
Just remember that short term trading is no different from gambling, and don't pretend it is anything else. Also keep in mind the old wall street saying, "bulls make money, bears make money, pigs get slaughtered."
Topic: How do you know when to sell - page 4. (Read 778 times)
I am a college student....... I want to be a trader.
The same approach for both: learn your subject, read, understand.
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The question I am constantly facing is, how do you know when you should (or have to) sell? When the price is rising, I don't want to sell because... greed ––tbh. But again when the price is dropping, I don't wanna sell either... sometimes the price might be lower than when I bought. In general, I am bullish that the price will eventually rise and I will make a killing, so no need to hurry. But again, I don't want to be a hodler;
You are currently on a state of hodling but you want to get over it by trading on a right time yes?, Just watch the price and if you really need to sell it then do it. Sometimes hodling is not really bad and it is much worth if you wait it on the right time since you're not in a hurry.
In my experience, I know I can sell if the trend is rising up and it's either I sell a percentage of it or all of it.
I am a college student looking to make a buck every once in a while trading crypto (mainly BTC). My portfolio is $500 of my savings so nothing big really. This is like a pilot project where I get to learn what is what and see if I can trade. I am considering going full time during summers and hopefully after finishing college if summers will have spared me. The question I am constantly facing is, how do you know when you should (or have to) sell? When the price is rising, I don't want to sell because... greed ––tbh. But again when the price is dropping, I don't wanna sell either... sometimes the price might be lower than when I bought. In general, I am bullish that the price will eventually rise and I will make a killing, so no need to hurry. But again, I don't want to be a hodler; I want to be a trader. How do you guys know when to sell?
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