Never sell. Spend and get the maximum return on profit.
I'm always surprised at how many people loose money swapping back and forth between fiat and bitcoin. They are just giving money away for no reason.
Topic: What are your rules for profit taking - page 10. (Read 1444 times)
usually I take to the advantage of the difference between the purchase price and the selling price, if my prediction is wrong then I will choose to wait for the price back up, but have a high risk, but I sometimes choose the cut loss step to reduce losses.
When do you withdraw funds? Do you sell into fiat or USDT? Im thinking something like this: After a 50% increase sell 20% into USDT, repeat. Reinvest in dips. When 100% increased sell 20% into fiat
My strategy is simple and my method is the common method in trading and that is the long term trading. I will hold my bitcoins until it become triple or quadruple in value. When I bought bitcoin and earned bitcoin I usually dividing those bitcoins before doing anything. Some I will be placing on savings and others for trading and others for withdrawal. As time goes by and as bitcoins value goes up and goes up my profit is increasing and increasing. I do just hope that I can construct a new house using those saved bitcoins.
Rules are simple: 20% I keep, 80% stays in the bankroll, and as much as possible, I don't take my profits immediately whenever I don't need to but instead use it on other things or just let them sit on stand-by in case the price dips and I can buy immediately. Most of the time, people are eager to take their profits and use them in buying nonsense stuff that leads to being broke and losing all their hard-earned money. It feels good to reward yourself with something nice, yes, but thinking for rewards short-term loses you the chance to gain even higher in the long run.
It’s maybe lame but I prefer to hold till 100% increase
When do you withdraw funds? Do you sell into fiat or USDT? Im thinking something like this: After a 50% increase sell 20% into USDT, repeat. Reinvest in dips. When 100% increased sell 20% into fiat
Do you understand that your tactic won't work always right. Having in mind that USDT is not really backed 1:1 by real USD dollar and thus could crush or whatever you shouldn't consider it the good tool to use at your advantage. You can do these kind of things but I will advise go for longer terms like during the last Heights if you sold during the price being 20-15 and bought back in 6-9 range you would profit in terms of accumulating more btc. Bit it is mich easier to talk about it than actually doing it. Of you don't know well don't lose your money, you could try to learn to watch patterns and such things but this game has a lot of stress in it.
When do you withdraw funds? Do you sell into fiat or USDT? Im thinking something like this: After a 50% increase sell 20% into USDT, repeat. Reinvest in dips. When 100% increased sell 20% into fiat
We have different approach in terms of selling so maybe you can't really get an answer that will fit your criteria. As for me, I really tend to hold no matter what's the trend is or massive shit happening around.
So when will I sell?
a) as soon as Im fine with the profit whatever it takes
b) as soon as I need cash
So basically no such thing as %%% here because most of the time, I do hold. Since I have gotten enough on my stash, I rarely do buybacks.
My suggestion: How about executing what's your on mind and see if that will give a good output to you. Really a must to test some methods in order to find a winning strategy.
P.S Only applies to bitcoin. I have different approach into altcoins and it will requires another discussion.
Maybe you should moved this thread to Trading Discussion.
When do you withdraw funds? Do you sell into fiat or USDT? Im thinking something like this: After a 50% increase sell 20% into USDT, repeat. Reinvest in dips. When 100% increased sell 20% into fiat
rule nr.1 beg god that bitcoin and cryptocurrencies will not destroy the national currency (usd) that you are calculating your profits in
Since no one can predict exactly how much the market would rise, so I prefer to withdraw half of my funds every time I see a fall. This cycle continues further and I keep withdrawing half until it reaches zero. There have been instances when I regretted selling my coins early since they multiplied more in future, but it is better to have some profit instead of taking losses. I won't say that my strategy is foolproof, but at least it doesn't result in you making losses out of your investments.
My friends follow a different strategy since they have risk taking abilities, but unfortunately I can only take little bit of risk and anything more than that makes me uneasy.
My friends follow a different strategy since they have risk taking abilities, but unfortunately I can only take little bit of risk and anything more than that makes me uneasy.
I prefer to just hold. The thing is if you stocked up on btc and then started selling a bit regularly, you are betting that the price would drop much lower than what you bought your original stash for. I find it difficult to time with our local exchange because of the spread. It's about $200.
When do you withdraw funds? Do you sell into fiat or USDT? Im thinking something like this: After a 50% increase sell 20% into USDT, repeat. Reinvest in dips. When 100% increased sell 20% into fiat
If you deadly need of money, do not consider any situation and crash the bitcoin into cash without any thought. In the same time you have plan to take the bitcoin periodically there is no worth in it mate. In that cause you can hold the coins for long time.
Converting it to USDT is not a good idea if you are panic about the price dump instead of that you can hold it as bitcoin or ethereum. That is much safer than USDT because profit wil be in your hand for sure mate.
When do you withdraw funds? Do you sell into fiat or USDT? Im thinking something like this: After a 50% increase sell 20% into USDT, repeat. Reinvest in dips. When 100% increased sell 20% into fiat
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