Topic: Stop asking "should I SELL or HOLD?" (Read 186 times)
Good and informative thread for everyone, not only newbies but also older traders who forgot the basics of planning your own strategy. Everyone should read it.
I think this should be a personal decision. One should learn to kick away greed and know the exact % profit to sell off, no matter how small. And if you decide to hold, it should also be a personal decision.
I really loved your post. It detailed and understanding. Also I support the fact that whether you will buy or sell your will depend on your investment strategy at a point in time.
The problem is that 99% of the people that got into crypto in the last year are Daytraders while 99% of the people that got into crypto before are the long-term type.
Also I'm no financial expert but from what I've read from most of them they look down on Daytraders and believe the real money is in long-term investing.
Also I'm no financial expert but from what I've read from most of them they look down on Daytraders and believe the real money is in long-term investing.
I agree with you. When Bitcoin reached $ 20k, many people thought: "wow! Bitcoin hit $20k, so next month it's worth $40k! I'll buy it now and get rich next month!"
People who thought that way, are now opening topics and more topics with the subject "Should I sell or hold?", "Bitcoin does not stop falling, should I sell?"
...come on!
The problem is that 99% of the people that got into crypto in the last year are Daytraders while 99% of the people that got into crypto before are the long-term type.
Also I'm no financial expert but from what I've read from most of them they look down on Daytraders and believe the real money is in long-term investing.
Also I'm no financial expert but from what I've read from most of them they look down on Daytraders and believe the real money is in long-term investing.
i am laughing now,
daytrader will surely sell and buy later.
long time holder will be the biggest question here if to hold longer or sell now.
i think nothing but to be a day trader.
most long time holder are wiser than new one.
daytrader will surely sell and buy later.
long time holder will be the biggest question here if to hold longer or sell now.
i think nothing but to be a day trader.
most long time holder are wiser than new one.
Yeah... many people do not even know what a daytrader or long-term ivestidor is. People read fanciful news and bought Bitcoins and buy today thinking they'll be rich tomorrow. I see many here in the forum that bought in the excitement of the moment and now they see the price falling more and more and they are lost without knowing what to do.
Believe me. Many people bought Bitcoins without even knowing what type of investor they are...
i am laughing now,
daytrader will surely sell and buy later.
long time holder will be the biggest question here if to hold longer or sell now.
i think nothing but to be a day trader.
most long time holder are wiser than new one.
daytrader will surely sell and buy later.
long time holder will be the biggest question here if to hold longer or sell now.
i think nothing but to be a day trader.
most long time holder are wiser than new one.
As what the OP has said, you should have already know if you will be holding or selling the BTC that you have bought, I've seen a lot of topics regarding if will they be selling their BTCs or will they just hold it, it actually gets repetitive that it comes to a point wherein it is annoying, be sure to check everything, don't fully rely for answers on the forum, do some research as well.
I think you did not understand the purpose of the post. I'm not asking, but explaining to those who consistently ask about it.
As what the OP has said, you should have already know if you will be holding or selling the BTC that you have bought, I've seen a lot of topics regarding if will they be selling their BTCs or will they just hold it, it actually gets repetitive that it comes to a point wherein it is annoying, be sure to check everything, don't fully rely for answers on the forum, do some research as well.
First, you need to answer this question; What kind of investor are you?
Basically, there are two types of investors: Daytrader and Long-term Investor.
Daytrader:
Daytrader is the person who buys and sells at the smallest sign of change in the price of the asset. It seeks to earn small percentages of profit in each operation. He spends a good part of the day watching charts and looking for signs of impending changes in asset prices. They are people who keep buying and selling all day long and making small profits one by one.
How does Daytrader work on loss?
Simple: the stop-loss function is used. What is Stop Loss? It is a tool available on many exchange platforms, where you buy an asset and program a sales order if the price drops to a certain value (or drops a certain percentage). In this way, the trader guarantees an "acceptable loss" and can try to recover it in the next operations.
How does Daytrader profit?
He needs to have more profits than losses and have a daily profit goal. Initially, for beginners, you'll have more losses than hits, but over time and with the accumulation of knowledge, your operations tend to be profitable over time. Do not expect to be a profitable trader overnight.
Long-term investor:
The long-term investor usually does not keep up with price fluctuations every day and also does not have in the stock market his main economic activity. They are usually people who seek to use the remainder of their wages on investments that can make good profits in the long run. He buys assets and "forgets" them. Just follow up monthly to see if it's a good time to sell.
How does the long-term investor operate in the loss?
When he decided to buy an asset, he studied and was convinced that that asset will be worth much more in the next months (or even years). If he bought, and suddenly, the value dropped, what do you think he does? He buys more in the next month! Or do you think he will sell and accept the loss? The more purchases you make at lower prices, the lower your average price will be. In this case, the asset does not need a "super-valuation" to be profitable. Just a good new price moment for the long-term investor to sell their assets.
How does Daytrader profit?
If from the moment he buys, the asset only has its price increased, it remains at his mercy when he sells. The longer you hold, the more profit can be. If the asset falls, it must buy more and hold until a moment of inversion.
Conclusion:
I see many people here asking: "should I sell or hold?"
The truth is that you should already know the answer the moment you bought the asset...
Basically, there are two types of investors: Daytrader and Long-term Investor.
Daytrader:
Daytrader is the person who buys and sells at the smallest sign of change in the price of the asset. It seeks to earn small percentages of profit in each operation. He spends a good part of the day watching charts and looking for signs of impending changes in asset prices. They are people who keep buying and selling all day long and making small profits one by one.
How does Daytrader work on loss?
Simple: the stop-loss function is used. What is Stop Loss? It is a tool available on many exchange platforms, where you buy an asset and program a sales order if the price drops to a certain value (or drops a certain percentage). In this way, the trader guarantees an "acceptable loss" and can try to recover it in the next operations.
How does Daytrader profit?
He needs to have more profits than losses and have a daily profit goal. Initially, for beginners, you'll have more losses than hits, but over time and with the accumulation of knowledge, your operations tend to be profitable over time. Do not expect to be a profitable trader overnight.
Long-term investor:
The long-term investor usually does not keep up with price fluctuations every day and also does not have in the stock market his main economic activity. They are usually people who seek to use the remainder of their wages on investments that can make good profits in the long run. He buys assets and "forgets" them. Just follow up monthly to see if it's a good time to sell.
How does the long-term investor operate in the loss?
When he decided to buy an asset, he studied and was convinced that that asset will be worth much more in the next months (or even years). If he bought, and suddenly, the value dropped, what do you think he does? He buys more in the next month! Or do you think he will sell and accept the loss? The more purchases you make at lower prices, the lower your average price will be. In this case, the asset does not need a "super-valuation" to be profitable. Just a good new price moment for the long-term investor to sell their assets.
How does Daytrader profit?
If from the moment he buys, the asset only has its price increased, it remains at his mercy when he sells. The longer you hold, the more profit can be. If the asset falls, it must buy more and hold until a moment of inversion.
Conclusion:
I see many people here asking: "should I sell or hold?"
The truth is that you should already know the answer the moment you bought the asset...
Jump to: