Taking profits vs holding long term?

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.

My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.

Just wondering what everyone else does. Do you take profits along the way and if so at what point? Or do you just invest to hold long-term?

When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.

To be smart in your investment is very important and knowing when to take profits and also cut loss is very important too, but at this time predicting to see more dip after the current price may be a bad target time, don't get me wrong that Bitcoin and other cryptocurrencies may seem more decline in price and the present price may still be a good exit price depending on what your entry price was. But the best practice is to always take profits along the line and arrange your portfolio in such a way that you will not be in a panic mood when the market goes the opposite direction whenever you take profits

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Quote from: traderethereum on November 10, 2022, 11:23:56 PM

But we can also keep it without selling anything because it depends on each strategy used.
I take advantage of the price that can increase 2 times from what I bought and wait for the price to decrease again because usually, the price will return to the price I bought before.
That will give me more opportunities to buy again and this time, I can buy more because I've made profits before.
But if you feel it's better to keep waiting until the timeframe you set, that's also okay because each of us will choose what we will do.

each person has a predetermined strategy and price target. and an important part of holding back is sticking to the original plan and backing up with some spare funds, so that if the market crashes like it does now there's a good chance to get a lower price.
and the last is to keep psychology within safe limits and not to get too mixed up in strategy with unthought-out decisions.

traderethereum

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But we can also keep it without selling anything because it depends on each strategy used.
I take advantage of the price that can increase 2 times from what I bought and wait for the price to decrease again because usually, the price will return to the price I bought before.
That will give me more opportunities to buy again and this time, I can buy more because I've made profits before.
But if you feel it's better to keep waiting until the timeframe you set, that's also okay because each of us will choose what we will do.

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Make decisions based on your original goals. Selling at a profit and continuing to hold are good options.
Consider selling some of the proceeds to invest in another good project, and holding the rest for the long term, selling when a higher price is reached.

Gallar

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Quote from: Uzairjutt275 on August 20, 2022, 05:36:54 AM

Bitcoin was worth $9000 when I started using it. I think Bitcoin price went up to $65000 a year ago. Then I had get good profit by hold cryptocurrency . Now market is too down so I think take profit or not hold cryptocurrency.

That's the right move, because when the market is down, there are only two right decisions,
namely: buy again to invest,
and don't buy it at all.

if I personally I choose to buy it again, because this is the right time.

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.

My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.

Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?

When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.

I prefer long-term investing, because it's more relaxing and less time-consuming.

but if you want to invest and take short term profit, it can be,
as long as you are really serious and often monitor market movements.

Uzairjutt275

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Bitcoin was worth $9000 when I started using it. I think Bitcoin price went up to $65000 a year ago. Then I had get good profit by hold cryptocurrency . Now market is too down so I think take profit or not hold cryptocurrency.

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?

I can't read all the reply above but I believe that most have been some good ones nevertheless, you should note that none of us commenting here are financial advisors but we're just regular users giving in our thoughts. You should also note that what works for Me A mightn't work for Me B so you don't have to jump on any suggestions here without doing your personal research hoping to get the same results. From your explanation, it seems you're already having doubt on what you intended to do.

Holding isn't a bad strategy as history has proven time without number that it's the best strategy to follow. Now this has to do with Bitcoin and not with you holding altcoins (although some altcoins has stood out of the crowd by giving nice return over the years but majority haven't). It's already late into the market so I'll recommend you keep hold of your bitcoins instead trying the outsmart the market with trading.

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Quote from: BIT-BENDER on August 19, 2022, 02:26:02 PM

Quote from: Ketesnuko on August 19, 2022, 01:43:00 PM

Always take profit no matter what because having stable coins in store always come in handy when bears take over the market, crypto is a high volatile asset so taking profits is a necessary something to do, this is also a good way to grow your portfolio in time.

This isn't supposed to be a direct advice, you perspective is Clouded when you don't know what the person is actually holding, I think if you invest in top coins in the crypto-currency market then you can afford the risks of holding its even in the bear market, such coin has shown strength and many time they always bounce back when the market recovers.

The best answer could be this, aim for a target profit while holding it for a long term, in that way, you'll surely earn profit and if you want to reinvest, just wait for it when there's a market correction. Wise investors can extend their patience and wait for a perfect time when to invest and when to collect their profit and if your profit were there, why not take it and reinvest when there's a correction?

Because of the high volatility of the market especially Bitcoin, we can make a profit, there's a real profit if you know how to manage when the price fluctuates. But if can't able to manage it, I recommend holding for a long term is an ideal way to make a profit.

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.

My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.

Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?

When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.

In this case, if I were you I take the profit now and reinvest it again. I know there is no wrong with holding for long but the opportunity to earn a few bucks every month or week seems to pass without doing anything. Yes, it all still means earning a profit but what we are doing is taking the time that we earn while waiting for the next Bull season, 2-3 years waiting, I think we've earned much already as long as we can manage our buy and sell correctly. It is just like how we play the market volatility and take this as our chance to earn.

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Quote from: Ketesnuko on August 19, 2022, 01:43:00 PM

Always take profit no matter what because having stable coins in store always come in handy when bears take over the market, crypto is a high volatile asset so taking profits is a necessary something to do, this is also a good way to grow your portfolio in time.

This isn't supposed to be a direct advice, you perspective is Clouded when you don't know what the person is actually holding, I think if you invest in top coins in the crypto-currency market then you can afford the risks of holding its even in the bear market, such coin has shown strength and many time they always bounce back when the market recovers.

execijutiere

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When you invest in a cryptocurrency, you need to set yourself a goal. In line with this goal, you need to allocate your profits and decide what to do and what not to do. What I mean is this: for example, I have 1000 dollars. I divided this 1000 dollars into two cryptocurrencies and made a portfolio. If I make a 20 percent profit on one and a 10 percent loss on the other, I have a profit of 50 dollars. This time I have a chance to buy long term with the profit I made Or I can wait with cash in hand.

Ketesnuko

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Always take profit no matter what because having stable coins in store always come in handy when bears take over the market, crypto is a high volatile asset so taking profits is a necessary something to do, this is also a good way to grow your portfolio in time.

qwertyup23

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.

My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.

Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?

When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.

This actually depends on your ultimate goal- are you willing to continue the risk of HODLing or are you willing to accept the risk and convert such to cash for liquidity?

But in all honesty, this must entirely depend on your profit threshold. As a general rule, you must at least recover the amount of initial investment that you made. Once you have recovered the price, then it is up to you if you want to continue HODLing or if you want to take those short-term profits and invest more in the process.

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Taking profits and holding long term both are profitable if someone invest in the right way. He should learn how to do risk management also.

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Taking profit and they buy back at the bottom is the ultimate strategy. But there are no such things as perfect trades. I tried different strategies over the years and I can say dividing your capital into long-term holding and the other half will be used to trade actively for profits for some buybacks.

Trading needs effort though, it is time consuming and at times stressful. Whereas long-term holding saves you time and effort and also the stress of an active trader.

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Quote from: Luzin on August 19, 2022, 06:55:26 AM

Quote from: Marvell1 on August 18, 2022, 06:27:07 PM

In case you are holding bitcoin then you don't need to do so if you don't need cash at the moment, because the market is unpredictable. Sometimes the market is not what we expect, if you sell and then the market doesn't fall but the price keeps going up then you will miss the opportunity to own cheap bitcoin.

Bitcoin has been proven over several periods to be able to again find new highs. So I think it is the crypto that is most trusted for the long term. So I agree the top choice is bitcoin. Including me, currently trade is always trying to increase the amount of BTC. This is because I feel confident that BTC Price will create a new High. Although I'm sure if you know that being a Holder is not easy. In fact, you need to learn to be patient and hold your hands before your target is reached.

History always repeats back to new green highs so BTC is what I think this will happen in the next few years, when the market is correcting I try to continue to add bitcoin in any way including in bonus income I always put it in cash for bitcoin because I am taking this step for the future but to fight how complicated it is but I am doing well and waiting for more recovery.

Even in trading when there is something easier to profit then I do it, although trading not very often on other altcoins but I think by doing this we can get more btc to save.

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Quote from: Marvell1 on August 18, 2022, 06:27:07 PM

In case you are holding bitcoin then you don't need to do so if you don't need cash at the moment, because the market is unpredictable. Sometimes the market is not what we expect, if you sell and then the market doesn't fall but the price keeps going up then you will miss the opportunity to own cheap bitcoin.

Bitcoin has been proven over several periods to be able to again find new highs. So I think it is the crypto that is most trusted for the long term. So I agree the top choice is bitcoin. Including me, currently trade is always trying to increase the amount of BTC. This is because I feel confident that BTC Price will create a new High. Although I'm sure if you know that being a Holder is not easy. In fact, you need to learn to be patient and hold your hands before your target is reached.

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.

My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.

Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?

When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.

If you are a trader you can take profit immediately but if you are an investor then you have to have a longer target time to get bigger profits, but investors will be more profitable in my opinion

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Quote from: JamesDaniel90 on August 06, 2022, 06:14:11 AM

Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.

My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.

Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?

When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.

Bro don't worry market learns in every situation. But if you're spot trader so nothing to worries because time to time market will sure up then your loose will convert in the profit. You should alot of knowledge about trading then you can start with proper way of trading and sure you will be profitable trader.
And other things which coins were you are holding?

Topic: Taking profits vs holding long term? (Read 757 times)