Taking profits vs holding long term? - page 2.

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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.

Depending on the coin you are holding it is an altcoin you can sell them if it is already profitable and can buy it back when the price corrects lower. But make sure it's a top altcoin, be it eth or bnb because their price increase is certain, if its a new altcoin then you should consider whether it has real potential or not.

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.

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Quote from: Natalim on August 18, 2022, 08:05:31 AM

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

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?

I tend not to hold forever but my plan is to take every opportunity where I can make a profit. I can afford to sell them in a weekly time frame if the profit is good and take every market recession to reinvest. I see this strategy works for me during the bull season but this could be hard just like we have now. At this bear condition, holding seems to be an ideal move to take. Of course, selling can also be possible just to draw out some profit and make the same strategy to buy again.

It’s rare to find good profits if the market itself is not stable and follows a bearish market. Though professional traders still manage to do it, but most of the traders in the market prefer to hold instead because it’s the most appropriate thing to do when the market is in downtrend. However, as long as you find some profits to sell, take time to sell and reinvest when there is another opportunity to invest.

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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?
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 your initial goal is buying and holding until the next bullrun, I think you can keep holding those coins although you already got small profits if you sell them now. However, if you consider getting profits from a short-term holding, you can buy more coins if you still have funds. So, some coins are for long-term holding and some for short-term holding, you can run 2 types of holding and optimize the chance of profits. Honestly, I also use this strategy, applying both short-term and long-term holding.

IMO, DWYOR

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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.

It’s definitely your own choice if you intend to hold for long term while taking profits along the way. It’s a good idea indeed but let me remind you that it’s not as easy as it is. You have to be very careful and find the right timing to take your profits so that you won’t sell at a loss. Otherwise, if you happen to sell at a bad price, you will never make profits at all and your hodlings might be compromised too as you might also sell them when it’s not yet the right time to sell.

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

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?

I tend not to hold forever but my plan is to take every opportunity where I can make a profit. I can afford to sell them in a weekly time frame if the profit is good and take every market recession to reinvest. I see this strategy works for me during the bull season but this could be hard just like we have now. At this bear condition, holding seems to be an ideal move to take. Of course, selling can also be possible just to draw out some profit and make the same strategy to buy again.

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Short term investment is not my thing because I don't have luck with that strategy, its either I lose some of my coins in the process or loss better opportunities, I prefer holding for the long term.

Issa56

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I don't really encourage short term investment, you are planning to take profit, then you will invest later whenever their is a crash, how sure are you that the coin you are holding is going to crash? Am not saying it's a bad idea taking profit but maybe am not just use to that particular pattern. I invest for long term and the only coin I invest in is bitcon, have been holding bitcoin for few years now and am in good profit but I haven't sold any of my bitcoin before infact whenever their is a bear market I always buy more. Am not really use to taking profit, have not sold my bitcoin before just because I want to take profit.

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Quote from: Vaculin on August 16, 2022, 02:37:47 PM

If you are an experienced trader, you can actually do both and make profits regardless of the market condition. A good trader will always love to take profits everytime, but it also demands more risk because you could lose everything you have with just a single wrong move. That is why most people here prefer less risk and just hold their investments for long term, and only sell them when bull run happens since its actually a perfect time to sell.

I can imagine that day trading and consistently making a profit is the most difficult thing for most traders. We never know whether the analysis we make is correct or not, it's just an effort and prediction based on several things but obviously the results we can't predict correctly.

This makes me think that investing is the best way we have to profit by ignoring more daily volatility in the price of the asset we hold. I also think to take the initial capital from the profits we have and continue the investment with the existing profits is a suggestion that we can also consider, this will obviously prevent us from losing the initial capital when the price is not what we expect in the future. This scenario is safe for anyone, but greed sometimes makes us forget that risk is always there.

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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.

Its not actually a wrong idea if you just purely invest and wait for its price to surge high but it would take a year or two before you can make good profits. That is why if there are possible chances to make profits along the way, most have preferred to do it and take the risk since its always better to make profits every now and then. However, its an individual's choice, as trading could sometimes bring losses instead particularly if you happen to trade when the market is very uncertain and very unstable.

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Quote from: The Cryptovator on August 06, 2022, 01:52:56 PM

Do both if you can. Hold for a long time to get a good ROI without much panic. And trade with some funds if you are a pro trader. Traders would multiply portfolios even in bear, of course only risk takers could do it. Though I do long trade now which looks like a hold. But I don't hold for too long. When I have a good profit I just sell and wait for a dip. If happens to dip then accumulate, if not I will wait. I can't short trade lately due to lack of time and experience as well.

If you are an experienced trader, you can actually do both and make profits regardless of the market condition. A good trader will always love to take profits everytime, but it also demands more risk because you could lose everything you have with just a single wrong move. That is why most people here prefer less risk and just hold their investments for long term, and only sell them when bull run happens since its actually a perfect time to sell.

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Quote from: Cryptomultiplier on August 06, 2022, 11:07:07 AM

The reason you started is what matters most. It is not advisable for anyone to venture into any investment without considering the time to cash out or reinvest. If one's reason is making profit as the market goes, I can say for a fact that there would be sleepless nights with lots of aspirin to swallow. For long term, only cash not needed at once should be invested so as to maintain composure and project for other future investments.

From my perspective, investment into cryptocurrency need time to scrutinized the propagation of Bitcoin before doing anything with cryptocurrency. Because some times while some people do adventure into lost is without having the basic knowledge of cryptocurrency. And secondly adventuring into coin that doesn't have a propagation.

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

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.

Hello there, have you decided first before investing, about what are you? I mean that if you are a long-term holder, you should need to hold the coins for a longer time, at least you are buying the coins to prepare for the next bullrun. But if you are a short-term holder, as long as you have gained the profits and it is enough, you may take profits. But in my opinion, it seems that it is better not to sell all of the coins so that you c still hold some.
This is actually included in investment management where you must consider and manage how much to buy, how much and long to hold, and how much to take profits.
We will not know exactly if the market will go down drastically again or will rise up. That is why we need to divide this investment carefully and wisely

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Quote from: Kasabus on August 14, 2022, 04:39:36 PM

Strong hands have been doing great in crypto and that they gradually start taking profits if they've seen it coming, while they also continue long term hodling in their chosen coins. However, if the current price is still in a downtrend, then there's no need to sell because you are like selling at a loss. The best time to sell is when the market is bullish, and while its still in bearish market, its the perfect time for accumulation and hodling them more for long term.

some strong hands when bullish on previous ATH may have sold some for spare money when prices enter bearish mode again. Taking some of the profits is very necessary to accumulate assets owned, so that more and more assets will be held for the next new ATH. I have some coins that I may hold for about 2 years and some of them get 100% profit which part of the profit I take, it is very good to hold long term until the main target is achieved. if i still have spare capital i will even buy again.

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

...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. ..

It will be the right decision if you fix a part of your profit. In this case, you will have stablecoins, which you can use to buy the same coin or another, at a lower price. If you are not a long-term investor, then this tactic will allow you to increase the number of coins in your portfolio before the next bull market.

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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.

Strong hands have been doing great in crypto and that they gradually start taking profits if they've seen it coming, while they also continue long term hodling in their chosen coins. However, if the current price is still in a downtrend, then there's no need to sell because you are like selling at a loss. The best time to sell is when the market is bullish, and while its still in bearish market, its the perfect time for accumulation and hodling them more for long term.

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Quote from: tranthidung on August 06, 2022, 06:41:21 AM

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?

From my experience, the best is taking profit to retrieve your initial capital back.

Then, if you still believe in what you are holding, you can keep holding it and wait for higher price. Fortunately, with this approach, even if the worst happens, you will not lose any cent of your initial capital. With good scenario, you can have x5, x10 in profit.

It’s always a smart move to take profits while you’re still into long term investment as long as you buy back when there is a good opportunity to invest again. However, if you are more confident to just invest it all along and just wait for your long term investment to succeed and prosper, the profits will also worth the wait. I guess the strategy really depends on you. Whatever your choice, I’m sure it will also teach you a great lesson.

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I like the idea of taking profits until I lose my coins this way, the lower price never happened again and I am left with usdc for a long period, yes I made some profits but I planned to hold those coins for a long period of time, I ended investing that money into another project, if you are a long term investor and your target isn't met yet do not bother taking profits.

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Quote from: MetaMii on August 11, 2022, 07:33:08 AM

There is one thing I like about crypto investment, you will be safe if you don't put all your eggs in one basket and you will make good profits if you choose the good projects and have that long patience.

Spreading your investment is not enough, it is not how you diversify your wallets but when you bought and the type of coin you bought should be put into consideration. For example, lets say you bought Bitcoin early this year, you added some coins/tokens like Terra into your wallets but unfortunately, you were affected by the market condition, it will be difficult to bounce back from that kind of losses. Bitcoin may/will always go back up but you see these altcoins, they are very bad sometimes during the bear market, they hardly find their way back to the previous all time high.
Always choose your investment wisely and when to buy, don't forget to put Bitcoin first.

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As a person who hurried once and lost everything, I advise you: do not repeat my mistakes.

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There is one thing I like about crypto investment, you will be safe if you don't put all your eggs in one basket and you will make good profits if you choose the good projects and have that long patience.

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