Topic: Taking Profits/Stacking Sats - page 2. (Read 443 times)

Ah shitty I'm guessing you bought it on it's decent from ATH. I'm definitely lucky with my ADA, and am in a good position there. Though it's not going to be a quick buck but am looking forward to seeing what it does in the next year or so.

I might consider putting in a stop-loss on a few coins that either don't take off or are middling btween me pulling out my initial investment and breaking even. It's not like I'm married to any of these projects. Some I think have a bright future but others are more of an opportunity.

That's interesting to think of. Pretty sure I can come up with some reasonable and profitable spots to set a sell at for a portion of each of the coins. thanks I hadn't really considered doing this.

The primary objective is to stack sats. Ideally this will be done through my altcoin trades given ideal conditions. Apart from that I would also be looking to try and make an opportunity of a BTC price increase that happen rather fast and dramatically, this is when I would be looking to use a stablecoin to wait for a good re-entry.

I like the idea of taking my initial investment out after a 100% increase and letting the rest ride. Some of these coin that I got into after their initial run-ups this is definitely something I will implement, there are others where I'm in somewhat early and will likely wait until I see something larger. These i would like to capitalize on my risk a bit more and might wait for a 3 or 4X before pulling out my initial investment.


Solid info/advice here thanks.

This reminds me the time when pump and dumps on small coins was famous and I took advantage of them. There were a lot of groups that did pump and dump and in order to be more fair it gave some options (so the coins were known beforehand, changed daily which one was picked) and depending on some block mined at certain hour people bought and sold all at the same time.

In any case I just figured I could put buy orders on my bot, and tell it to buy if the price goes 10% higher and sell when it reached 50% and that is how I made my first capital in crypto world, thanks to that place I was capable of constantly being in profit, because as soon as it stopped I sold as well it didn't need to reach 50% neither. You can do the same, have a bot and put a buy order at a number it increases and put a sell order even higher.

If nothing else, always keep high asks on the book where you want to exit. Spikes in altcoins (and sometimes even BTC) are often momentary, and if your orders aren't on the book, you'll miss out. That's the primary advantage of keeping coins on the exchange.


What is your primary objective, gaining BTC (stacking sats) or preserving USD? Trying to do both all the time is a good way to make terrible trading decisions.

If you've got no exit strategy, this is a good rule of thumb for trading altcoins during a BTC bull market: take 50% profit on a double (that's your principal investment). Let the rest ride.

This ADA is a nightmare for me. I heard good thing about them and long ago I bought some large amount wishing them will give me good profit. My buying price was 0.00004500 BTC. Have a look on the current price now :-P

@Steamtyme, whatever you do buddy, always use Stop-loss. Don't let the greed to lose your coins like I did.

Then you misunderstand my intentions here. I have held my coins, and still hold the majority in personal wallets. That being said I am still looking to use a portion of that to attempt to increase my holdings. The second part of what you said is exactly what I'm doing. I'm taking stabs at projects I think have a decent future. Given that the markets are always moving I want to play with using stablecoins, as a means of maximizing my profits by trying to avoid dips.

It won't be perfect, and could lose. I'm just not interested in doing nothing when I see a decent chance to improve my portfolio.

New to crypto?? I haven't been around that long but I've seen enough 20% swings happen overnight, to know things can change very quickly. Most of the time I was no where near my wallets to do anything about it. So I am fine with the risk I am taking to trade on Binance, while it would suck I am using an amount I can lose and not be to pissy about.

I also said I have no interest in trying to play with stop/losses this is going to be me manually deciding when to trade.

No interest in holding stable coins just a tool to try and capitalize on big run-ups.

I'm still stuck at this point. You must think twice before taking this risk. Every major exchange has worst history of getting looted by hackers. I mean yeah I get it you might be needing it for quick trade whenever there is surge in the prices for that particular coin to holding. However, no coin will go up and come down in like blink of an eye.

You still get plenty of time to transfer and trade the coins.

Even stop loss is so risky since we put up big amount of money for trade. Just a thought, I am no enthusiastic trader but sure the logic shall be followed.

You should have said you want to Hodl and just buy and hold your coins. From the explanation you have made here it’s clear that you want to Hodl, and you can do that. You have to find good cryptocurrencies that you believe are going to be increasing in price soon, then you can buy them and hold until their price increases.

I have a friend who prefers to Hodl Bitcoin, he never bothers himself about the other cryptocurrencies, just buys Bitcoin and keeps holding the coin until the price goes up. There is the possibility of Bitcoin going up in future, though I don’t know how long you want to be holding the coins , but if you have plans to be holding for a long time, then I like to suggest you not to worry about taking out profits.

Using the huge purchase shitcoin tracking is an excellent idea. I just open an account on Binance where can i find the features you just said.

I am agreed with hugeblack. I will suggest you move only to earn a little quick profits of about 3-5%. In this case, the feature of Binance that hugeblack mentioned can help you much. Also, take care of your own decisions. Only when you feel comfortable doing these things, then do it. Otherwise keep hold your capital in BTC. or withdraw it from exchange to personal wallet.

I plan on making any trades manually and at spot essentially. I'm only looking to capitalize on spikes in price, and then jump back in somewhere if the price pulls back. Yes I'm anticipating upward trends for a lot of the market, so that's why I'm getting things in place at this moment.

Most of the coins aren't directly correlated, some are small projects that look to be gaining momentum. BTC is also one that I have a portion on the exchange that I'm planning to do this with as well.
Right, but I'm being greedy  . I'm just looking to hit those moments when we see a 3K price run-up over the course of a day or 2, which seems to be followed by a correction somewhere in the middle. Not definitely going to hit it perfect that's why it's only going to be a portion. The altcoins I will sell for BTC, but again if the price appears likely to drop off I'm probably going to use a stablecoin until I see which way it goes.

I just got to thinking that despite it being a few years now, I'm still missing out on some opportunities.

Thanks for the tip. I might check it out from time to time and see if I can pick up on the patterns. Not something I'd have a lot of time to watch. ADA is something that caught my eye last year. Someone gave a presentation about it at the meetups I was going to. Hoping to see big things in the coming years... really sick of updating the wallet though takes me forever.

There are some easy profits that you can achieve quickly, for example, there is a section in binance that tracks the movements of whales, a huge purchase of shitcoins can be esaily effected with next hour, you can take advantage of this feature and try to achieve 3-5% of the gains in less than an hour.
Some currencies have a good future like ADA, steller, so you can bet on the long term and buy more.
BTC/USDT is also a good way when you use it with the support levels.

Since I'm not a real trader, I don't have any pearls of wisdom to give you--but if you're looking for stability in between altcoin trades, going the stablecoin route is probably going to be your safest bet.  If the coins you're trading are correlated in any way with bitcoin, that might be problematic if you hold bitcoin while waiting for your next trading opportunity.  I've never owned stablecoins, but I know they're made for situations exactly like this.

Right, and that's exactly what you'd be doing by holding bitcoin instead of a stablecoin.

The way I understand it what you're asking for is an interconversion strategy between the stable coin USDT and BTC, in which case other than looking at the candles and seeing how the bullish run progresses there's isn't much to say.

Stop-loss is important but give yourself a reasonable window on either up/down trend end. I'd say this though, things are looking greenish and if anything I'd buy BTC now and when the volatility increases convert it back to USDT - an idea 

I'm not looking to become a day trader or anything like that. I just want to find the best way to capitalize on spots if I time it right.
I'm anticipating some run-ups and I'd like to be able to take profits without placing them in added volatility. Now I haven't paid much attention to stablecoins in the past but it makes sense to use them in this way.

I'm keeping a portion of my coins on Binance... I know the risks but these are funds I want to trade with. If I feel either of these coins enjoys a run-up that looks like it will retrace I want to sell off and convert to USDT, hold that until I see it retrace, or convert to more BTC.

I'm not interested in setting up a bot or getting into margin trading or really anything else more involved than what I describe above. Any tips or advice on a better way is welcome.