Newbie - when to take profit - page 3.

asyakashi

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Quote from: btc-facebook on August 15, 2019, 08:33:02 PM

save your bitcoin friends, and sell in 2020,
do not rush into the profits now, because future profits are many times greater than now.
and precisely if you have cold money, and you can reinvest, but I'm not advocating, just giving ideas.
it's all up to you.

Everyone says the same thing, what exactly is there in 2020?
is this because of halving bitcoin or related to some issues about coin libra that will make bitcoin prices go up?
I believe but need a reasonable reason.

shoreno

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Quote from: Salauddin1994 on August 16, 2019, 04:02:15 AM

Newbie looking find profit only If they think of losing, thinking only of profit will solve all the problems

agreed . as a newbie thier mind is mostly compose of profit or on how to earn and simillar stuffs like that but they dont know how dangerous they are going to venture . this is should be corrected asap .

Quote from: TheUltraElite on August 16, 2019, 02:38:21 AM

OP, if you are new to trading stop thinking that you are making silly questions because every doubt is a doubt silly or not does not matter.

i dont find that a silly question but its okay to ask question like this since he is still a newbie .

@op yes , that right . you can take the profit and leave your starting capital to be able to earn again . thats what most of us are doing right now .

Salauddin1994

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Newbie looking find profit only If they think of losing, thinking only of profit will solve all the problems In fact the opposite happens more often In that case, there is nothing new to think about Keeps It is only natural for them to make mistakes when their profits are the main thing And they get hurt because of these mistakes.

kennen1113

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Quote from: TheUltraElite on August 16, 2019, 02:38:21 AM

OP, if you are new to trading stop thinking that you are making silly questions because every doubt is a doubt silly or not does not matter.

Coming back to topic, if you have made a profit, book it and sell the coins. That will ease your mind. This is important because the fact if not sold would plage your mind every time the price dropped. This leads to a vicious cycle of anxiety and depression which is deadly. Hence take a profti out when you can and tell yourself that you did a right thing. Then decide when to buy back and get into the market again. Recycling your money is important here.

Well, most newbies often ask when to take profits but they don't realize that this job is something they should do right from the moment they start buying, they need to set an accurate and appropriate rate of return for their investment because time and greed factor is always cause us to miss the opportunity to take profits, so we need to prepare everything. And after being successful in a fight, the best thing is to rest, finding an opportunity quickly is impossible, emotional excitement will deceive us.

TheUltraElite

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So anyway, I applied as a merit source :)

OP, if you are new to trading stop thinking that you are making silly questions because every doubt is a doubt silly or not does not matter.

Coming back to topic, if you have made a profit, book it and sell the coins. That will ease your mind. This is important because the fact if not sold would plage your mind every time the price dropped. This leads to a vicious cycle of anxiety and depression which is deadly. Hence take a profti out when you can and tell yourself that you did a right thing. Then decide when to buy back and get into the market again. Recycling your money is important here.

guoyu78

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Quote from: The Cryptovator on August 15, 2019, 02:25:50 AM

Its depend on trend. For example I have sold some bitcoin yesterday and price was above $10.5K. And seems today bitcoin price has been dumped below $10K. Although I sold it permanently and I will not buy back but if you like then you could get benefits of that dump. It doesn't mean you will be always gainer. That's why you should well research current market conditions. Otherwise you might lose your funds.

I bet that the one you sold is just one of those fiat that you are using to do shorts because I believe you would not just sell your main investment finally like that when the sky is still the limit of bitcoin, if you do that, what will you tell your children in future when bitcoin equal to $1 million, and then everyone who invested now with at least 1 bitcoin suddenly becomes a millionaire, do you think they will be happy for you, better you invest now for the future and forget about all these minor profits that you will only end up using to take some bottles of wines and snacks.

Don’t mind me though, I am a long term holder, it’s what I believe in and I would not want to alter your own decision as everyone is entitled to theirs, just do as you wishes and do what is best for you.

befriendmywater

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

It all depends on your thoughts. Before investing, you should get a desired profit plan and follow your plan.
Don't let the market decide your money, it's very dangerous.

btc-facebook

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save your bitcoin friends, and sell in 2020,
do not rush into the profits now, because future profits are many times greater than now.
and precisely if you have cold money, and you can reinvest, but I'm not advocating, just giving ideas.
it's all up to you.

Eildosa

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If you have chosen this approach, then it is worth selling bitcoin after it has experienced a large growth. Then after the price drops a little, you can buy again and keep until the next pump. This will be your profit.

adzino

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This point depends totally on you. Different people have different target. I would suggest you to set a goal. Once you have reached your goal, take your profit and start from the beginning. Or, you can reinvest your profit and add it to the capital and make more profit out of it. Just remember, the larger profit goal you set, the higher risk you will be holding. I would suggest you to keep your profit goal small and pocket your profit periodically.

SquallLeonhart

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I have always used the strategy of "only withdraw when you have to" method, its not as good as some other day traders methods (some lose a lot tho) but its still a viable method if you just want to have more and more bitcoin in your account and even if it goes down you keep getting more, that way when there is another all time high you gonna have enough money to sell and do something big instead of keep making smaller profits.

Traders do make more money than this strategy if they are good and I do respect that but I am not a good trader and I don't know when to sell so instead of selling whenever I want to, I sell whenever I have to, there are stuff in life when you have to withdraw some money but if you stay careful then you can actually have 1 bitcoin without having to sell and then you can sell whatever left over is.

Reid

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Take it whenever you can. Do not stop yourself when you see an opening for profit.
Then, think about later on how to accumulate another bitcoin or you could just wait for the price to be dumped again which surely happens most of the time.

Taking a deeper thought into when you will sell will just make it worse or it will just stress you.
HODL or sell. There is just two options there and it shouldn't be much of a thought.

Babyrica0226

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Quote from: ?? on ??

Just sell it when you know you're gonna be satisfied by after getting that net of yours. It's your money/coin/investment. If you're gonna aim for higher profit next time than what you get right now, then you might need to consider your savings also that you could use to build your capital even further as you trade higher and higher at that time.
Just my two cents.

As a newbie, I think you need to set a goal or target in aiming profit in trading.
Then once you set it up, you must have a proper time management about the activity you are going to do
in the actual trade in the exchange site platform. After you you finish your set up as a newbie trader make sure
you will buy the promising and potential coin in the market. Good luck..

danherbias07

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That means you are also losing a part of bitcoin by doing that.

Let us say you bought at 10k usd and it risen to 11k usd then you sold a part of that for 1k usd and still having a value of 10k usd in your account. But, how much bitcoin do you know have?
Of course it wont be a whole bitcoin anymore. Maybe about .9 something is left.

You still need to accumulate that remaining hole again to complete 1 btc in case of a price drop.

xamxam

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you see a coins that got dumped its value in the exchange rapidly, and you know it is a potential coins in the market like Ethereum, ada, Vet, and Xem/Nem are good to buy em now then hold until it pump the price of each of them in the exchange site platform.

The Cryptovator

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Its depend on trend. For example I have sold some bitcoin yesterday and price was above $10.5K. And seems today bitcoin price has been dumped below $10K. Although I sold it permanently and I will not buy back but if you like then you could get benefits of that dump. It doesn't mean you will be always gainer. That's why you should well research current market conditions. Otherwise you might lose your funds.

Webberson

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Considering the fact that the market has an up, down kind of movement, it is always advisable to take profit when a reasonable amount of profit has been made on your investment. Having your capital withdrawn and leaving your profit to trade, is a good move, but you have to stick to the same principle(s) that gives you the gain initially, otherwise, you would find yourself losing the profit you've earned and reinvesting that capital which you've initially withdrawn.

Upgate

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Our profits range might be difference if you are cool with a profit you have made already then it's not a bad idea to pull it out still leaving the capital in trade.
I am a long term trader and I don't take out profit at short intervals so I wouldn't do that.

Thanasis

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you want to take out your profits then grow it atleast to 50% of growth from your capital then take out your half of the capital and then let the remaining work for you then cash out the remaining half after 100% growth so now you have only profits as your hold so just hold it until you feel no more reach the bitcoin can.

DimitrisLodirogas

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Take as much as you need. you must treat the money you invested as its gone. that money is making you more money while you are doing other stuff. If you run out of it take it out of the investment.

Topic: Newbie - when to take profit - page 3. (Read 3410 times)