Topic: The exit plan - page 2. (Read 447 times)

I would not totally say an exit plan because the fact that I can still see opportunities to make profits by buying low and selling high right after I made my prior profits, then most likely I will just stay in the market and continue to maximize my portfolio with bitcoin investment. I guess a lot of investors will prefer doing that than just leave the market instantly when it’s not in good shape anymore.

I think you mean a savings plan. In my understanding, this is when you accumulate a certain amount of cryptocurrencies or stable coins and can live on them without ever working again. It means to live on interest from them. And there are plenty of ways to make money from large sums: all of them, even if not very profitable, are very reliable, which is very important for large amounts. Such types of earnings can be considered, for example, in the Binance earn.

Be patient and don't keep pushing. The exit plan is quite simple using the dollar cost averaging method and it's a very basic strategy in measuring and analyzing basic technicals behind many other strategies that most great investors might do.
The market is preparing for a fortress run as the current developments are starting to look good enough to continue to hold on to the assets already in the portfolio, if the current budget is enough to buy then this is still a good opportunity to add to the portfolio.

You’re on point mate. The truth is the term exit plan only exist in the books because in reality when an investor is on the peak of making profits, he will never perform an exit plan but will continue to invest instead and  long for bigger profits. As man has no satisfaction because of its greed and desires, then expect that a regular investor will never resort into an exit plan as long as he’s still capable for bigger profits.

There is no one-size-fits-all approach when it comes to holding Bitcoin. Several Bitcoin investors have held onto their Bitcoin for over a decade and continue to hold it, even as I write this. The reason behind their decision is that they have no intention of selling any portion of their Bitcoin holdings. On the other hand, some investors sold their Bitcoin when they achieved their desired target. Whether or not you should sell your Bitcoin is a question that only you can answer. It is not something that another person should advise you on. It is your investment, and it is your responsibility to decide when to sell based on your satisfaction with the profit.

Let's say for example, you bought a full Bitcoin some months back around November last year and you bought when the price declined to $15k, you should have roughly a 50% profit by now, some people will sell at this point and some might wait until a new ATH has been broken, you should know when you are satisfied when you have had enough.

I don't have an exit plan, I thought I did initially but at the rate at which I'm investing money into Bitcoin, I don't think I can ever execute any exit plan of selling all my bitcoin and exiting the market. I'm in for the long ride, I want to be in Bitcoin until the very end like when all the minable coins has been exhausted and then continue being in Bitcoin probably until I die and pass it on to my children by giving them access to my private key through a will by my trusted lawyer. I don't just see myself doing something else that has nothing to do with Bitcoin or the crypto industry. I want to have most of my wealth in Bitcoin and can occasions sell some to take care of things when there isn't spendable money from my other assets or businesses.

When I say I don't have an exit plan I mean I don't intend selling all my bitcoin holding. But it doesn't mean if I need money I won't sell some Bitcoin to generate that money that I needed. I know it isn't wise to have all your investment in one assets but what's there to trust another investment when they aren't as perfect as Bitcoin is. Other investment aren't as satisfactory as investing in Bitcoin but they're controllable by the government. There's a saying contradict the popular saying of not putting all your eggs in one basket and that's the code I want to live by.

My typical exit plan is to slowly sell my holdings once a historical wall or new all time high is already reach and failed to move further above it. Unload slowly when you are in profit so that you can guarantee profit no matter what’s the next movement of the price. Don’t be greedy on holding because selling on profit while the price keep increasing is still better than selling your token on low price at loss.

Sell when everyone is buying and buy when everyone selling. Just focus on your main target which is being in profit and not to ride every pump in crypto because that’s a very hard goal to follow.

First of all, it's bitcoin ONLY. Stay away from shitcoins.

Second, the best strategy is to stay humble, stack sats, and save them for at least 5 years for a short-term hold, 10 years for a mid-term hold, and decades for a long-term hold.

If you are able to save some bitcoin to pass along to some loved ones who will come after you, then you stand to set them up for a future that is so prosperous, that you might be able to build them the foundation for a legacy of freedom that will last generations.

The most effective exit plan is to control your Greed. When you have your desired profit and market is too greedy then it's the perfect time to exit from the market and then should wait for the perfect entry point again.

Actually exit point is defined differently among the long term investors and the short term investors. So you have to choose your definition as what you want. If you want to maximize your profit then enter in bear market and exit at the peak point when you observe that market is pumping blindly and there should be a correction. So a little learning about analysis should have to make your own exit point. Hope you got it.

I like to do 70% – 90% off the table once I get into appreciable profit. I use this pattern of taking when I know it's not just a pump and dump project and I know the market is in a bull rally. It's a gradual process for me like starting with 30% first and then I continue as price progresses. My reason being that even if price continues upward after I take first profit I won't loss out completely and if it dumps too I won't loss out completely. Yes, I know the human nature and greed when the market is in a bull rally and the temptation to allow trade roll on. Meandering through all that should form trading and investment experiences of veterans and they shouldn't yield to greed based on that.

That's one way to approach the gentle enquiry from a curious fellow but I think, the user is asking because he or she doesn't know and wishes to know.
Even still like nakamura12, the OP wasn't very specific on what he or she meant by an exist strategy. If the term was defined, there wouldn't be much complications understanding but as it is,

What I can deduce is that, your taking about the moment when you feel is right to take profit on your investment or while doing some active spot trading.

As a trader, you've got to have a trading plan and that should be enough go define the point at which, you leave the market either on profit or lose.

It's good to know that you are concerned about your exit plan because it is one of the biggest mistakes I have done in my crypto journey.
One should definitely have an exit strategy and keep selling to buy back later and increase the portfolio size.
I didn't had an exit plan in my mind and this made me lose 2 big opportunities to make a great profit.
I have seen 2 bull cycles yet I didn't sell anything but this time I do have a plan and will make sure to take profits consistantly.

What's exit plan? if you're a Bitcoin investor, you wouldn't exit in this space because you're invest for long term purpose and even though Bitcoin price already hit your goals, you shouldn't sell all of your coins as the price could go more higher and higher.

Bitcoin maximalists might would never exit because they trust most of their wealth in Bitcoin. Bitcoin is one of the most unique to store a wealth rather than the other thing that related with centralization.

Are you trying to imply that greed is something artificially ingrained into humans? If yes, then you are totally wrong. Greed is a trait just like being a cheat or a dishonest person. The only difference is that in this case it's greed towards money and not food or power, and the more people make money, the more greedy they become towards it. It's the bitter truth.

If one was to ever get satisfied with what they have made, then we wouldn't have 50-year-old Billionaires who by our standards have ultimately made it in life still trying to make more money, and yet they barely have 30 years left to live.

I think that every investor has a certain price target for when he will take profits. But for all Bitcoin lovers, the exit from investments will certainly not be the last and complete. I can say about myself that I can periodically withdraw a certain amount if the need suddenly arises, but after that, I will buy more if possible so as not to remain at a complete zero.

Even those that have an exit plan hesitate once Bitcoin reaches a new all-time high, they always want more and are not satisfied with what they have presently, this has happened to many people in the crypto space before and only those that learned from the lesson will be able to take actions when their ROI keeps growing and growing.

I plan to start taking profits once Bitcoin gets over the past ATH of 69k of 2021, and for my alt bags I will watch the dominance of Bitcoin, it has to start falling before I will start selling my altcoins one after the other, and it's not something I will rush to do, because some people also sold too early in 2021, you accumulate from time to time right? You should take profits from time to time too.

I think it's more better and save to look before leaping, you're not expected to make investment with some cryptocurrencies if you have not taken your time to investigate well on them and be well satisfied on the results gotten from your findings because before one could use the exit plan the crypto project would have gone down completely to a no return zone, they don't notify before and after having serious issues that would have led to their complete fall and take away all investors asset together with them to downhills.


Buy the dip, hodl and sell, have enough time to invest using DCA to avoid high lost in times of bear market, make use of a decentralized wallet to hodl your bitcoin, learn about bitcoin investment strategies and get used to them, do not invest on other cryptocurrencies than bitcoin as a beginner except you're knowledgeable enough about other cryptocurrencies.

The figures that you've mentioned are an exception though, I disagree with your implied thought that humans are greedy by nature because that can't be true, a perfect analogy for this is a circus elephant, just because you see it doing tricks doesn't mean that it's nature is to do it's tricks. We are a product of our environment, we are surrounded by sin so our mindset is leaning towards sin. I do agree that a lot of people don't have an exit plan, trading is addictive especially if you're winning so going out of the game seems kind of irrational that you don't think about it anymore and then you start experiencing losses that you don't know what to do anymore because you didn't think about any exit strategy.

If you believe that this market is still young then there's no exit plan but that doesn't mean that you won't take profit, so distinguish those two things. Because if you're looking at the market and you're very optimistic that you're one of the many that shall benefit on it in the long run, you won't think of an exit plan but maybe for many bitcoin holders, a $500k-$1M worth of Bitcoin is the exit plan and that's when many are going to sell bunch of their Bitcoins. But as of now, there's really no exit plan. Take profits when you're ready and happy but do not forget to accumulate when you see some good entry prices and you've got money to spend.

I admire your exit plan and its unique. It is a refined version of my exit plan. I had always decided that immediately there is a new ATH, I'll exit the market and wait for another cycle. But I recieved an advice from the trading board which suggested that I shouldn't exit the market immediately there is ATH.
This is because the market may keep trending upwards and I will simply die in regrets.

The adviser said I should exit the market in percentages, let's say at 70k I withdrawal 30%, and 80k, I withdraw 50% and then I can exit finally at 100k.
This is exactly what you have said here.