Easier to be said than done, It is same as saying Buy Low, Sell High.
But if it is just as easy as saying it then we are all already a successful trader.
There are so many traders that are also having lossing because of it,
What if you set out an exit point and took profit and it didn't touch your re-enter point because it continues to grow?
You just lost your chance to gain more so there are traders who doesn't have much confidence or skills that only relies on holding their investment.
Topic: Play smart, set exit points, take profit, re-enter - page 2. (Read 539 times)
I'm just going to say thatanyone selling now is also at a risk of buying higher if he or she plans to re-enter since BTC has been crushing the market. It briefly breached $40,000 hours ago and I don't think it'll be stopping there. Who knows if correction comes after $100,000? If it does correct, will you re-enter when the new bottom is $50K?
I never said ppl should sell now. All I say is: set exit points at some numbers and anticipate the correction (not talking about the small ones, but the big one, when the bubble bursts). Do you believe that it's gonna make it to 100K? Then set your exit points according to that. Re: me not being a Hodler, I never said I was. I get paid in crypto and do have most of my savings in crypto as well. Don't know about what's the HODLERS bible.
It's different this time. Not that much attention from the institutions has ever been made than what we're seeing today. Yes, there's the possibility that there will be a crash but there are too many of them waiting for a small dip and then they'll buy all of those available bitcoins to be bought by them just to be brought up long term and with a higher price. He's correct about taking profits, if you've held since $3k, $4900 and we're @ $30k, $41k, those prices are profit if that satisfies you and you need the cash.
Whats different for sure this time is, even dumps of 1000 coins within 5 minutes drops the price only for 1-2k and very quick everything is getting bought up again. Whales really getting wrecked this time. Money is switching hands from very early adopter nerds and gamers to pro sharks and institutions.
It's different this time. Not that much attention from the institutions has ever been made than what we're seeing today. Yes, there's the possibility that there will be a crash but there are too many of them waiting for a small dip and then they'll buy all of those available bitcoins to be bought by them just to be brought up long term and with a higher price. He's correct about taking profits, if you've held since $3k, $4900 and we're @ $30k, $41k, those prices are profit if that satisfies you and you need the cash.
And now I still see your thread as fund that you are putting through. Although you are correct as it happened in the past, yes 
. So you making an early fud,lol. Anyway, this time may also be different because so many things are now involved and adoption keeps increasing with big players.
. So you making an early fud,lol. Anyway, this time may also be different because so many things are now involved and adoption keeps increasing with big players.I disagree re: my post being FUD. I am just saying, "program exits as the price goes up b/c history shows that Newton's law applies to BTC as well". It's not that hard to grasp; I am not saying sell all your coins; it's gonna crash! What I say is, ok, it's skyrocketing, and we all know a hard correction will come at the end, so if you have 10 BTC, it might be clever to sell 0.5 at 40K, 0.5 at 45K, and so forth.
I don't advise selling everything. You gotta do it in a way that will be positive for you on both outcomes: if BTC drops to 25K (something very plausible), you will have FIAT on the Exchange to get back in and probably double your BTCs. If instead, it goes to 250K, you still have some BTCs and made some USD.
I guess this does not apply to those hodling until the year 2030. But for those that cash out coins on a regular basis like me (I own a crypto-related project funded with crypto) to setup take profit points is what allows me to have some fun and earnings while whales make the big money.
I prefer to take my profits in Bitcoin.
Of course there's nothing wrong with spending some of your profits on nice things, and that usually involves converting some of your Bitcoin into fiat as an intermediary means of exchange.
I bought my first property in Mexico with a tiny part of my profit from the 2017 rally. Now I'm looking at 400 acres of pristine forest with a private lake less than an hour from Toronto by plane and taxi. Almost bought it just before Xmas but decided to wait until we reach at least $100k. It would have eaten up too large a portion of my stash.
Setting goals is good but don't set exit points. Set purchase points.
Of course there's nothing wrong with spending some of your profits on nice things, and that usually involves converting some of your Bitcoin into fiat as an intermediary means of exchange.
I bought my first property in Mexico with a tiny part of my profit from the 2017 rally. Now I'm looking at 400 acres of pristine forest with a private lake less than an hour from Toronto by plane and taxi. Almost bought it just before Xmas but decided to wait until we reach at least $100k. It would have eaten up too large a portion of my stash.
Setting goals is good but don't set exit points. Set purchase points.
I just discovered Bitcoin or cryptocurrencies last 2017, and I don't want again to happen my regrets. Taking Profits.
Taking profits is not always a wrong move, I always do it, like taking some only profits and enjoy it. There will be always a good opportunity to buy Bitcoin, that's why when I am taking profits and it pumps, it's okay because I already don't lose, I already earn some.
Taking profits is not always a wrong move, I always do it, like taking some only profits and enjoy it. There will be always a good opportunity to buy Bitcoin, that's why when I am taking profits and it pumps, it's okay because I already don't lose, I already earn some.
Well, you do not have to be so smart when it comes to trading crypto currency; all you have to do is be consistent in your trading, be consistent in taking profits too. As long as you are able to take profits daily from trading rightly (and not gambling); then you can only worry about complacency
I agree and said it many times here. But then people come up with "another mindrust". As it was at 20k in 2017 everybody was saying 100k for sure etc. I for my self set selling points. 20% would be at 40k€ and then I will not regret it. Even if we go to 100k and then dump to 20k or whatever.
Certain portion at this price if you have already met your goal then should keep booking profits. And in case if dips come then you can buy again and make profits when it rises. And if it continues to rise then you already have some portion left with you as it is you are not missing opportunity of that too as your portfolio will keep growing.
But isn't it the whole story behind bitcoin has changed a lot? We have seen the price going down, very volatile because it's been seen as a speculative asset? But now the mindset has change, many see it as store of value and hedge, specially the companies that are buying today? So I guess it's better to be just a holder for now, otherwise you will get rekt by taking profits and when we are going to re-enter when it smashes all time highs like every day?
I agree and said it many times here. But then people come up with "another mindrust". As it was at 20k in 2017 everybody was saying 100k for sure etc. I for my self set selling points. 20% would be at 40k€ and then I will not regret it. Even if we go to 100k and then dump to 20k or whatever.
There's always a certain price level that will effectively never be seen again, unless Bitcoin falls to zero, and this level is constantly going up. $1,000 seemed like a big deal in 2017 when it was witnessed for a second time, but after that is has never been seen again. When you sell, there's always a risk that this price will be below the bottom that will come after the crash, so no matter what you do, you will miss out on some profits. This is why people choose to HODL - you can't make mistakes with it.
This is straight as you put it but I want to point first that in your topic, you didn't include stop loss for traders, I had it is important for those who want to make profit in trading.
And now I still see your thread as fund that you are putting through. Although you are correct as it happened in the past, yes. So you making an early fud,lol. Anyway, this time may also be different because so many things are now involved and adoption keeps increasing with big players.
And now I still see your thread as fund that you are putting through. Although you are correct as it happened in the past, yes
. So you making an early fud,lol. Anyway, this time may also be different because so many things are now involved and adoption keeps increasing with big players. 
It's really hard to set time-based goals on bitcoin given that it's a market that's full of uncertainties and surprises. That's why a lot of us here just buys and hodls for the rest of the term and just take profits whenever we feel that it's already enough for us. Almost everyone in here surely have done this, be it an experienced trader or a newbie that doesn't know a thing or two about actual market movements. It's more safer, and much easier to manage compared to setting some goals in a timely manner that is doomed to fail for the most part.
If you want to know what price you are going to exit and you are content with it, I think will not be difficult for someone to set a goal. The uncertainties and surprises are there but that does not mean that it should affect your judgment, if you drop at X price and you find that it gets higher then there is still a try again maybe next time wait a little longer but as long as you have a profit I think you did not lose. 
It's really hard to set time-based goals on bitcoin given that it's a market that's full of uncertainties and surprises. That's why a lot of us here just buys and hodls for the rest of the term and just take profits whenever we feel that it's already enough for us. Almost everyone in here surely have done this, be it an experienced trader or a newbie that doesn't know a thing or two about actual market movements. It's more safer, and much easier to manage compared to setting some goals in a timely manner that is doomed to fail for the most part.
I don't agree with OP, as he is trying to time the market.
I am and it had some neat results in the past when I timed it and got out following a scheme until it all crashed. If you think I did not buy more Bitcoin once the whole thing went to the floor and I had USD from those sells into the Exchange you just don't get my point at all. I am not predicting when it will burst, just telling that it will.
Well people keep saying, "what if its different this time". And what if it is? The proof is a stock like TESLA which made Elon Musk the richest man on the planet today. The entire market cap of Tesla exceeds the combined market cap of all automakers currently. And when you are driving around, you see Toyota's, Fords, Dodge's. How often do you see a Tesla? Almost never in my area.
So markets are not making any sense right now. It can top at $40K or it can top at even $400K. People are at home, bored, and nothing else to do buy purchase Tesla options and Bitcoins.
So markets are not making any sense right now. It can top at $40K or it can top at even $400K. People are at home, bored, and nothing else to do buy purchase Tesla options and Bitcoins.
I would not compare BTC with TESLA man. I am not into TESLA details but you do see that EV are the future and Musk seems to have one or two innovative products on that market. On the other hand, Bitcoin is just a medium to store value that performs really badly in terms of its costs, decentralization, and scalability. If you take a look at Bitcoin history, its price is mostly stable with the exception of these massive P&Ds that usually come some time after halvings. And every time ppl thinks "This might be the one that's different".
It's going to go up until a certain point and it will then do a massive correction. If I am wrong and it hits the 400K I will be a very happy man. I am never selling all my coins, I just set some exit points and sell portions as I see the price goes up.
Well people keep saying, "what if its different this time". And what if it is? The proof is a stock like TESLA which made Elon Musk the richest man on the planet today. The entire market cap of Tesla exceeds the combined market cap of all automakers currently. And when you are driving around, you see Toyota's, Fords, Dodge's. How often do you see a Tesla? Almost never in my area.
I think the earnings per share for Tesla is priced in going 20 years at the current rate. And yet the stock keeps going up. They had a stock split so the actual price is more like $4000 right now. Shorters are getting margin called left and right since it broke the $400 area about a year back. And at this rate it will have a market cap of 1 Trillion and Apple had a market cap of 1 Trillion about a year back.
So markets are not making any sense right now. It can top at $40K or it can top at even $400K. People are at home, bored, and nothing else to do buy purchase Tesla options and Bitcoins.
I think the earnings per share for Tesla is priced in going 20 years at the current rate. And yet the stock keeps going up. They had a stock split so the actual price is more like $4000 right now. Shorters are getting margin called left and right since it broke the $400 area about a year back. And at this rate it will have a market cap of 1 Trillion and Apple had a market cap of 1 Trillion about a year back.
So markets are not making any sense right now. It can top at $40K or it can top at even $400K. People are at home, bored, and nothing else to do buy purchase Tesla options and Bitcoins.
I don't agree with OP, as he is trying to time the market.
The best proven method to make profits with bitcoin is just to buy and hold. Everyone who has bought bitcoin and held it is in profit. On the other hand, many of those who played at doing what the OP says have lost money and regret it. I have seen it said many times, I shouldn't have traded with my holdings. That doesn't mean you can't ever sell, though.
The best proven method to make profits with bitcoin is just to buy and hold. Everyone who has bought bitcoin and held it is in profit. On the other hand, many of those who played at doing what the OP says have lost money and regret it. I have seen it said many times, I shouldn't have traded with my holdings. That doesn't mean you can't ever sell, though.
I'm just going to say thatanyone selling now is also at a risk of buying higher if he or she plans to re-enter since BTC has been crushing the market. It briefly breached $40,000 hours ago and I don't think it'll be stopping there. Who knows if correction comes after $100,000? If it does correct, will you re-enter when the new bottom is $50K?
I never said ppl should sell now. All I say is: set exit points at some numbers and anticipate the correction (not talking about the small ones, but the big one, when the bubble bursts). Do you believe that it's gonna make it to 100K? Then set your exit points according to that. Re: me not being a Hodler, I never said I was. I get paid in crypto and do have most of my savings in crypto as well. Don't know about what's the HODLERS bible.
Jump to: