Please share your EXIT strategy... - page 3.

twinstarrider72

newbie

Activity: 31

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Quote from: Poink on September 06, 2017, 03:33:26 PM

I am new and jumped all in...what I lack is exit strategy.

Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.

Anyone have good tips when and how you do it?

My exit is to bitcoin. This is more "real" then anything you can buy IMO.

Poink

full member

Activity: 350

Merit: 122

So to clarify....

1. I am not talking about exit from trading. Just to secure gains when goal for a coin is reached. It is hard since you always think maybe it will go higher then BAM! All the gains are gone. Anyone experienced that? Grin

2. Taking refuge when I believe a major dive going to happen (like now). Keeping the alts converted to BTC is not as great since BTC also takes a dive. Sure it will rebound but there is a major opportunity lost in there that need to be exploited. I think selling BTC at GDAX is the best option for me...then re-purchase before the rebound.

Converting to USDT/Tether is not a good idea IMHO, since you lose out a lot (more than most think) by "parking" your money there. I'd rather park it in real dollars than USDT.

HongKong

hero member

Activity: 812

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Quote from: 100degrees on September 14, 2017, 01:29:31 PM

In a perfect world you have already spread your bags out. However, the reality is that 12% in the stock market is killing it. My goal has always been 20%, and hang onto about 10% of your bag in case it gets an insane pump, as long as you come out ahead, you can roll it into another opportunity

It’s kind of hard to tell that to someone that is trying to keep their coins within their storage because they want to see a pump even if they have the risk of them losing a bunch of money for their coins. It’s even harder to tell that to someone who is wanting to sell their coins for an emergency as well.
That technique does seem like a pretty good method though, it would make it look like you are trying to sell all the coins that you have and have around 20% of all the other coins. Why not invest in only 4 coins?

mangodream

hero member

Activity: 672

Merit: 501

Quote from: caravel on September 06, 2017, 03:38:45 PM

That's a very good question.

I always used Virwox to withdraw my BTC to my paypal account and then used paypal to withdraw to my bank.

I'd love to hear other methods to withdraw funds, if people know of any?

It's a lot easier to buy BTC using FIAT, then it is to get FIAT for BTC in my country.

__________
EDIT : someone mentioned paybis in another thread as a method to cash out, but I haven't tested yet, so tread with caution if you try it.

Thanks for this tip. I will remember it when I would get some fiat from my BTC. Wink

slaman29

legendary

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Livecasino, 20% cashback, no fuss payouts.

Quote from: soothaa on September 06, 2017, 03:49:10 PM

I plan on holding almost everything until BTC is a decently major accepted currency. I can buy a lot of things with it already. To me I do not care about the daily swings between $4,000 and $4,600, I am in for the $10,000 -> $50,000 mark.

This is money I do not really need and treat it as investments and intend to keep on growing it.. technically this is my exit strategy from USD!

You know, I wish more people like you would come out and say it. I'm sure we're a minority, but a significant one. A lot of us, even those who only hold a fraction of BTC (my fraction recently grew to 0.25 BTC) are holding and just sincerely hoping for the long-term goal. Even when BTC went almost to $5k I knew it was way too soon. Now it's coming all the way back down, I'm still not worried. It's an investment an if it ever became 0, I would shed a few tears but it won't be the end of the world.

This is our lifelong exit strategy from the rat race!

100degrees

member

Activity: 108

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In a perfect world you have already spread your bags out. However, the reality is that 12% in the stock market is killing it. My goal has always been 20%, and hang onto about 10% of your bag in case it gets an insane pump, as long as you come out ahead, you can roll it into another opportunity

3DBrushes

sr. member

Activity: 617

Merit: 253

CryptoTalk.Org - Get Paid for every Post!

Quote from: Poink on September 06, 2017, 03:33:26 PM

I am new and jumped all in...what I lack is exit strategy.

Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.

Anyone have good tips when and how you do it?

Everybody has their own exit strategies but for me there is nothing specified exactly for most of the top coins like BTC or Ethereum because they loose it's value only if it's converted to Fiat. For shitcoins I suggest you to exit as fast as possible or until you are satisfied with your profits.
If you do day trader then exit around 5%

ticterine

full member

Activity: 140

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Ideally, you will never exit. Crypto will gain more and more mainstream adoption and the process of converting back to fiat will be useless. If you believe coins are going to catch on as legitimate payment systems and power the 21st century economy, you should never exit and only continue to accumulate.

Argon2

full member

Activity: 140

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Quote from: Poink on September 06, 2017, 03:33:26 PM

I am new and jumped all in...what I lack is exit strategy.

Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.

Anyone have good tips when and how you do it?

The exit already happened when Bitcoin hit 5K USD. Expect 2766 USD if we break support in the next 72 hours. You missed the exit door... Cheesy

oreits11

full member

Activity: 168

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to work with exchange as investors might have with personal decision to release funds as wait within terms as met of limit with the decision

as exiting terms or to begins with the different stages with the new phase of terms.

Omega Weapon

hero member

Activity: 1092

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Quote from: ?? on ??

I dont care for quick trading and pump and dump. I let my coins sleep and sell when its enough money to pay for all FUN living costs for the rest of my life.

If its not enough yet, I will sell my coins at what I consider the peak and then re-invest in promising, low price coins.

Its only a wrong strategy if just Bitcoin keeps rising and cracking new heights, but for that I do have a larger amount in bitcoins too.

This is the right way, I do not want to get some short term profits, I want to get big profits in the long term and the only way to do that is to invest in some new promising coins hold for as long as you can and wait for a pump then you cash out and do it all over again, if you are talented at it then it could be possible for you to leave your regular job and instead dedicate 100% of your time to trading.

lentzaj

sr. member

Activity: 474

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Quote from: saga-crypto on September 07, 2017, 02:53:10 AM

I will divide exit to 2 different methods, one exit is to exit to FIAT so that I can use the money earn. The other one to exit to some reliable and potential coins in low price vs BTC, this is another low risk investment if I want to keep the money in crypto-world for investment purpose.

Do not exit to FIAT. Some projects (bankear, tenX, iconomi, etc) will allow you to withdraw from you token portfolio with a classic debit card at the current exchange price. I hope and that in the next future (5 years ahead) paying with crypto will start to become mainstream.

zabisux

sr. member

Activity: 401

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Presale is live!

It is all about my feelings. I dislike to follow very long term bull runs. If it lasts too long I left in somewhere. I also use RSI and MACD for easy exit points.

Omega Weapon

hero member

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Quote from: kryptqnick on September 07, 2017, 02:36:26 AM

Quote from: Poink on September 06, 2017, 03:33:26 PM

I am new and jumped all in...what I lack is exit strategy.

Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.

Anyone have good tips when and how you do it?

Maybe I got you wrong but people were writing about selling btc for fiat, whereas I really thought that you meant exit in trading. I think it this case it's best to decide the profit for each coin in advance and maybe just set them for sell right after buying on the prices you expect them to reach. If you invest $100+ then I guess even 15-20% profit is really nice. If you are a small investor - aim for at least +100% for it to make sense. This strategy will help to win from trading and minimize stupid losses.

I think he is asking about both, he is asking about how to perform an effective exit strategy when it comes to trading and how to cash out his bitcoin, about the trading part I’m not an expert and I do not like the idea of holding extremely volatile coins, I prefer to play it safe and hold for the long term, that way I do not have to deal with the stress of having to watch the markets all day.

talkbitcoin

legendary

Activity: 1372

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All I know is that I know nothing.

it is one word or 4 letters: D U M P
you should do it as fast as you can. it is all pump and dump, and for some coins the pump takes a couple of days to even a week and some coins it only lasts less than a day. you have to dump fast depending on the coin. if it is one of those big coins like ether which takes longer to pump then keep it until the pump is at its max. if it is one of those small coins that are fast pump and dump then don't hesitate on dumping.

and don't worry about the rest of the pump as long as you got a good profit out.

Voice-Of-Reason

full member

Activity: 228

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no actual exit strategy, but I usually try and sell something before major peaks (usually around new records being set) to secure some gains and either rebuy after a dip or just keep the profits and use them (like for a new bike Wink

)

bananadines

hero member

Activity: 644

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I plan to hold the most of my bags for a few years now. I dont like to play short term coins, because it stresses my to much. I just pick my favorite long term positions and let them slide.

Maybe I am going to take some profit in the next year, but I guess thats not more than 25% of my portfolio. Should be enough to hae a great time

AUruHM

sr. member

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Quote from: tyuner4 on September 07, 2017, 02:44:35 AM

Other than converting to Fiat (Cash), you can consider to convert to USDT and buy again when the market move in your favor. In this case, you save on the conversation fee to fiat (which is usually more expensive).

Conversation to tether give more chances to loose because USDT <> USD. It's artificially created currency. From last news not all count of USDT is secured by US. Who knows what happens if tether.to will dead?
Imho decision depends on trading pair and profit count.

saga-crypto

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SAGA Developer

I will divide exit to 2 different methods, one exit is to exit to FIAT so that I can use the money earn. The other one to exit to some reliable and potential coins in low price vs BTC, this is another low risk investment if I want to keep the money in crypto-world for investment purpose.

tyuner4

full member

Activity: 322

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Other than converting to Fiat (Cash), you can consider to convert to USDT and buy again when the market move in your favor. In this case, you save on the conversation fee to fiat (which is usually more expensive).

Topic: Please share your EXIT strategy... - page 3. (Read 2604 times)