Just a piece of advice needed here folks - page 5.

Bollexz1

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Quote from: Wind_FURY on October 13, 2021, 07:01:49 AM

OP, just HODL Bitcoin, and you wouldn’t have to worry “when to exit at the appropriate time”. Because at the “right time”, no HODLer would need to sell their coins. Bitcoin will be accepted EVERYWHERE. It’s starting in El Salvador, and it’s not going to end there. Cool

Of course I hodl Bitcoin but I had to go into investing on these altcoin as I couldn't afford to purchase 1Btc at a time. So what I literally do is take profit on these altcoins and buy more Bitcoin regardless of whatever price its sitting.

Bagaji

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Don't think you much problem here only if you want to be too greedy by way of you wanting to make hundred percent profit from all your investment. If you invested let say $50 in Altcoin and its value appreciate from that point to $65 I don't think is a bad investment that you will not take your profit. But in a situation where by you want to make $200 from your $50 you make have to wait for a long time or lose your investment for anything can happen in crypto currency market.

livingfree

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You don't have to pull out if you only invest to bitcoin and few other top altcoins. You only need to wait until you're profit is decent already.

Pulling out is what you're thinking about and you need faster reaction for doing it.

lalabotax

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Since you have been trading for several years, I am sure that you have many lessons from what's wrong with your trading strategy.
What is the target of your investment?
I personally will set a target to sell the coins at a certain rate. And this will be based on the need of the investment goal itself.
Sometimes, we are too greedy to sell the coins because always expecting to pump more and more, in fact, that is vice versa and go downs.

Yamifoud

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Quote from: AakZaki on October 14, 2021, 04:34:02 PM

The need to learn technical analysis and fundamentals will certainly be very useful when you have to enter and you have to leave.
If you can't do the analysis, then you will have a hard time where to start and end.
During the several years you trade, of course, you learn how to trade well.

And definitely, our trades don't have a favorable result but often more on losses. And this can be seen when we have to do trading in real life and also to appreciate the usefulness of TA that most new traders don't have.

Quote

All decisions also depend on your psychology, if you want to get big profits, you must have a target that you really achieve, and that can be done by trading long term and determining what altcoins are good.
don't just log in when FOMO happens, it will only cost you.

We sometimes use our common instinct as well as the market needs to have such deep understanding otherwise we fall into a wrong decision. And base on my experience, it is very important to be patient all the time. Many had suffer losses as they have been influenced by their emotions and this is what we have to combat first before anything else.

AakZaki

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The need to learn technical analysis and fundamentals will certainly be very useful when you have to enter and you have to leave.
If you can't do the analysis, then you will have a hard time where to start and end.
During the several years you trade, of course, you learn how to trade well.

All decisions also depend on your psychology, if you want to get big profits, you must have a target that you really achieve, and that can be done by trading long term and determining what altcoins are good.
don't just log in when FOMO happens, it will only cost you.

carlfebz2

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Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

Hello everyone, please I really would like how you folks get pull out in a project with huge or reasonably profit locked-in.

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

All ideas are welcome please.

Thank you all! 👍

Be thankful on what you had attained because not all would really be ending up on having profits even though you do wait up for a very long time and just be thankful at least even though profits isnt really that high.

Perfect cash out is something that you wouldnt able to know because we dont know on how this market moves or something that the projects been doing over the years.

Just stick into your own method or decisions even though it isnt really that big but at least you are in gains.You would find out for yourself on how things should be done.

Alisha FR

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you need to know in terms of trading using long term methods, you don't hone your skills in analysis and you are just in the safe zone, generally looks fine but to get bigger profits you should also use short term methods like trading BNB which where every time the price movement on the exchange is very interesting to follow.
the combination of short-term and long-term methods depends on the crypto asset you are trading.

Questat

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Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

Hello everyone, please I really would like how you folks get pull out in a project with huge or reasonably profit locked-in.

Thank you all! 👍

Honestly, most of the time trading won't please us nor we can be sure about profit gains in all our trades. It is because sometimes our strategies won't work effectively or are not totally effective and the other factor is that we have been too emotional in making decisions that could affect our trades. It never had to find a perfect time for trading but I do this when the market seems too active and with the use of reputable exchanges could really give some help.
One thing I could suggest to you is that you have to be patient as you are still learning how to trade. Sooner or later you will found strategies that make you happy and reach your goal either.

Shenzou

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Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

Hello everyone, please I really would like how you folks get pull out in a project with huge or reasonably profit locked-in.

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

All ideas are welcome please.

Thank you all! 👍

I think that you might just be caught up in what we call greed, as any other humane you get in and as soon as you see that you are making money you get way too invested and lose, and an easy way to combat this or rather a strategy is to set up some certain goal, realistic ones that you exit at, and keep in mind that it is always good to make small profits rather than greed and take a massive hit.

tippytoes

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Activity: 1988

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Quote from: stomachgrowls on October 13, 2021, 04:32:34 PM

For profit taking scenario or situation then this would really vary on someones personal decision or choice because we do have different goal or target in our mind which means that every green that you

do able to obtain is considered profit and there's no such thing about being perfect trader on where you do really come out on point or on the exact time because its impossible for someone to know

that right timing or right spot due to unpredictability of the market and the advice i could give you is that whenever you do see greens on your portfolio then consider that you are doing good.

Some people won't cash out even if they are on positive profit because they are hoping they will get more if they will wait. But most of the time, the price will slowly drop especially if the project is not that strong leaving the holder in negative position. Now, he will regret that he didn't sell his stash while still in positive side. So yes, so long you are above your buying price and even if it is not big profit, better sell off if you start to feel that the project is going nowhere.

stomachgrowls

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Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

Hello everyone, please I really would like how you folks get pull out in a project with huge or reasonably profit locked-in.

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

All ideas are welcome please.

Thank you all! 👍

For profit taking scenario or situation then this would really vary on someones personal decision or choice because we do have different goal or target in our mind which means that every green that you

do able to obtain is considered profit and there's no such thing about being perfect trader on where you do really come out on point or on the exact time because its impossible for someone to know

that right timing or right spot due to unpredictability of the market and the advice i could give you is that whenever you do see greens on your portfolio then consider that you are doing good.

Natalim

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Activity: 3094

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Quote from: sujonali1819 on October 12, 2021, 10:22:14 AM

That means you can not secure your profit can not finish your trade at the appropriate time. To be honest this is not a problem that is faced by only you. We all here are facing this. The main way of secure profit is believe yourself. If you always hesitate to take any decision you can not finish everything with good result. And don't be greedy to much.

Another thing is nobody can not finish the game with 100% accuracy. So always take it very easy and trust/depend/believe yourself and your decision.

If you start trading without a trading plan, then you will really find it hard when is the best time to exit. You might always be in profits but if you are not able to sell them when the price is perfectly high, then i can say that you are not making real profits actually. Start setting your own target selling price so you won't have to deal with your greed. And when you see the price is already at its peak, sell a portion of your coins so you can generate profits too and maybe buy back some other cheap but potential coins.

However, if you think your strategy is already making a poor performance, then replace it with a new one. Develop a new strategy that will definitely work on you.

Wind_FURY

legendary

Activity: 2898

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OP, just HODL Bitcoin, and you wouldn’t have to worry “when to exit at the appropriate time”. Because at the “right time”, no HODLer would need to sell their coins. Bitcoin will be accepted EVERYWHERE. It’s starting in El Salvador, and it’s not going to end there. Cool

Ararbermas

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Activity: 2016

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Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

Hello everyone, please I really would like how you folks get pull out in a project with huge or reasonably profit locked-in.

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

All ideas are welcome please.

Thank you all! 👍

I'm not an expert but for me the good way to pick a good project where you can obtain good return, is those projects that always mentioned in some news around the internet and what's hot projects every month because for sure they're all have potential..
And also when it comes exit strategy, it's simple go and check other traders strategies in youtube because on that way you can easily follow the steps and what are the important things to know about the strategy.. To make it short all the information can be found in the internet just invest time for it if you're really interested to know more stuff about trading.. Wink

sujonali1819

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Activity: 2436

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That means you can not secure your profit can not finish your trade at the appropriate time. To be honest this is not a problem that is faced by only you. We all here are facing this. The main way of secure profit is believe yourself. If you always hesitate to take any decision you can not finish everything with good result. And don't be greedy to much.

Another thing is nobody can not finish the game with 100% accuracy. So always take it very easy and trust/depend/believe yourself and your decision.

Bollexz1

member

Activity: 868

Merit: 12

Quote

Another reason is you need to have a trading plan which is the focus in one goal because applying different strategy always put you in confusion.

Truth of the matter is that I don't apply different strategy, I might have done that in the past but not anymore. So these days I only stick to one which I still considered poor.

Quote

If your strategy will not work and you have a loss streak continuously, I advise you to leave that strategy and start to find another one.

Yes and that's basically the reason why I sought for advice on here.

tvplus006

legendary

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To the Moon

Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

...All ideas are welcome please.

You have the same problem as most novice traders, when they see that an asset is increasing in price, they do not fix the profit received, waiting for further growth. And as it turns out later, an unexpected dump of the market leads to the depreciation of the asset. Therefore, take what the market offers you in a timely manner.

Husires

legendary

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averaging with altcoins is not an ideal long-term plan because altcoins are based on the idea of adding features that do not exist in bitcoin or imitating them faster and with less fees.
altcoin are a good investment before they are discovered and then turn into models that achieve accounting losses more than profits.
Here are some basic tips:

Do not invest in altcoins for the long term.
Do not invest in altcoins with low liquidity.
Do not invest in altcoins based on trading volumes or market capacity.
Do not invest in altcoins with crazy highs or recent ATH.

averaging works great in bitcoin.

palle11

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Merit: 332

Quote from: Bollexz1 on October 11, 2021, 05:24:33 PM

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

All ideas are welcome please.

Thank you all! 👍

Your exit point should be like your entry point too. You had a thing you look at before you enter your trade. Like you watched your candle stick formation that you felt it was time. For closing also the candle can be a guide to your exit. Apart from that you can also exit by knowing support and resistance levels . It will do you good to set your stops or exit close to those points depending if you are buying or selling. If you use your support and resistance to calculate your trade you should follow that in your exit. If you are a daily trader, know it that you will have to be sure to exit your trade daily, don't allow roll overs because every new day present it own trade, supports and resistance for yesterday are not same for today. Good luck as you adopt the changes to your trade.

Topic: Just a piece of advice needed here folks - page 5. (Read 775 times)