What are your rules for profit taking - page 6.

frowsiter

sr. member

Activity: 714

Merit: 261

Quote from: Johnabraham on April 19, 2018, 12:57:44 PM

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

Making the USDT choice is not bad when you have gotten the profits and wanna put them securely without getting fire of volatility. However I would suggest that you just re-invest your profits again into the coins which you think are good investment and are currently down in the price. You should always take such shots and then make more profits out of it.

That is how I am taking more profits here and not by holding by my profits. I will hold my profits whenever I have sufficient of them. Now the definition of the sufficient depends on many things and personal instincts. Wink

Agronopolos

newbie

Activity: 14

Merit: 0

for me to withdraw funds only when I needed it because I applied BTC as a long-term investment, I bought BTC in 2016 and continued to export the amount of btc from the trading results and was attractive when needed but from now on I began to often withdraw to usdt to get profit from relatively btc fluctuations down now because for altcoin it's not good to trade now

ukboss

full member

Activity: 742

Merit: 100

Although I’m a professional cryptocurrency trader so I just follow the market movement. My rules for taking profit only day trading because most of the people know about day trading. Day trading is a very quick profit although it has risky, I suggest to newbie never start day trading because you can lose your whole money in a short time so before following market price then start day trading.

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: Jaycee99 on August 06, 2018, 09:45:00 AM

I will just base on today the thing I do when I hold (a.k.a HODL), sell and buy so in short it is trading.

1. I think positive and do not panick when market value goes down.
2. I do not use my bitcoin and exchange it to fiat when I need important things. I hold it until it increases at 50% aswell or a much better idea more than 50% increase.
3. After that I exchange it to fiat and spend it on the things I need in my everyday life.

In a scenario I need money
1. I exchange it to fiat, just about a little amount because I need money but I know bitcoin will increase and I get a money back.... So, I dit but stop because bitcoin is having signs.

You only withdraw when you need money right? and of course you will always holding your coin even when prices rise right? I've also done that strategy before, but how do you feel if you still hold back when prices go up, and then the price drops, and you throw that opportunity away? How do you feel ? and what you will do

markint

member

Activity: 329

Merit: 14

Actually I wish I never saw the need to sell any fraction of the bitcoins that I have accumulated so far, but because I decided for some time ago to dump all my finances in the crypto economy, and at this time it is difficult to cover my daily expenses in my country using bitcoins, eventually I see myself in need of exchanging bitcoin for cash.

But I always try to make every month my total bitcoin balance is greater than I had at the beginning of the month. And I do not like to trade the bitcoin directly, rather I speculate with other cryptocurrencies so that, once they increase in value at least 100%, sell them to convert them into bitcoins.

ShannonGarcia99

newbie

Activity: 32

Merit: 0

I think that before the information is not good, although not confirmed, investors should not be concerned about USDT. Maybe they later prove that the USDT is in circulation is 100% guaranteed, but it is the future, the safest, for now, should not buy USDT, holding USDT can sell cash. I give the opinion based on a personal evaluation, not FUD nhé you.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: Saidmod on April 26, 2018, 01:28:53 AM

I think there is no such rules to follow, a one thing that we should be also bear in mind in don't be greedy. Greedniess is the only emotion that stay out our mind to sell most of the time we are waiting and wanting for more. Selling in profit and not being greedy is the best rules.

If you are a day trader than yeah you should get rid of your emotions and just purely focus on the movements of the coins and whatever else the day traders do. However if you want to hold a coin for a long term period and just purely "investing" instead of trading than you can put your emotions in it as well. Do not forget that we are in an emotional market where the price is decided among people and not have a set value. We decide what worth how much, which is mainly emotional.

A general and technical rule for profit booking must be derived from the same analysis which was used to open the position. It means, the same analysis must include the exit point too. But most people are not focusing on this.

Jaycee99

sr. member

Activity: 1036

Merit: 273

I will just base on today the thing I do when I hold (a.k.a HODL), sell and buy so in short it is trading.

1. I think positive and do not panick when market value goes down.
2. I do not use my bitcoin and exchange it to fiat when I need important things. I hold it until it increases at 50% aswell or a much better idea more than 50% increase.
3. After that I exchange it to fiat and spend it on the things I need in my everyday life.

In a scenario I need money
1. I exchange it to fiat, just about a little amount because I need money but I know bitcoin will increase and I get a money back.... So, I dit but stop because bitcoin is having signs.

giletto

sr. member

Activity: 812

Merit: 250

Quote from: Amber73McCoy on August 06, 2018, 05:30:35 AM

Do not watch investment trading is gambling. Up to 95% of investors always buy stocks at the highest price. The reason is simply that they do not know when to buy, only buy based on news or rumors are "leaked". Only 5% of investors know when to buy at low prices. Thus, 95% of people suffer losses and only 5% of people make a profit. Invest in the right to get rich, invest gambling style will definitely be burnt pocket!

There is a rule that wealth is never for the crowd. and you're right. Most buyers at high prices make the price rise. It's time for the coin holders to take profits and exit the market. I personally have been so many times bought at high prices because of rumors

anume123

full member

Activity: 700

Merit: 100

Proof-of-Stake Blockchain Network

It's hard to make money today, especially when you are not sure of buying a coin I think when you earn a profit and have a profit it does not cost you a second trade to earn.

StephenieDuong

sr. member

Activity: 602

Merit: 250

—RUSHMOON — Automatic LP & Yield Farm & AMM on BSC

When i have profit in trading, i change all those profit into usdt because i can sell usdt with lowest fee and exchange it to real money. But in this year, the market is too negative and i have to use my profit to sercue other cryptos balance.

Amber73McCoy

newbie

Activity: 34

Merit: 0

Do not watch investment trading is gambling. Up to 95% of investors always buy stocks at the highest price. The reason is simply that they do not know when to buy, only buy based on news or rumors are "leaked". Only 5% of investors know when to buy at low prices. Thus, 95% of people suffer losses and only 5% of people make a profit. Invest in the right to get rich, invest gambling style will definitely be burnt pocket!

Gururapyco

newbie

Activity: 67

Merit: 0

Mostly I hold until I make at least a double of what I invested previously. For certain projects I HODL my coins for a longer time if I'm for example waiting for some major developement events etc.

GREATLOVE

member

Activity: 252

Merit: 10

Quote from: Johnabraham on April 19, 2018, 12:57:44 PM

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

Well for me you need to use the rules of trader its must be long term or short term and buy in a low price and sell it into high price .

raider150shifter

jr. member

Activity: 126

Merit: 1

I am using BTCTC as my capital in my trades, so
I am focusing on BTCTC/Altcoin pair, if profits I withdraw
using BTCTC and sell to fiat using local financial services platform.

Natsuu

full member

Activity: 1148

Merit: 158

★Bitvest.io★ Play Plinko or Invest!

Quote from: Marcel666 on August 06, 2018, 12:42:07 AM

I always keep a set target, after which I lock my profit, and keep trying to grow my initial capital.

I always keep my investments to a minimum, handling too many coins at a time can be really stressful. I only take a handful at a time.

I always have a stop loss limit at which I cut my losses. And try to make up for it with other assets.

I take profits when I can, instead of hoping for more growth. I might miss a higher pump, but on Tuesday long run, it keeps me in the game longer.

And as a general rule, ALWAYS PROTECT YOUR CAPITAL.

I agree on this because if you'll loss your capital then it will be a dead end for you. Likewise, having a profit of course indicate that you're doing good here. Also I always have a target and always have a buy back plan so I can maximize my capital and profit as well. Good thing as far for this moment it works.

Vanester2014

member

Activity: 236

Merit: 10

Borderless for People, Frictionless for Banks

I usualy do withdraw my earnings in bitcoin wallet only and convert it into our local fiat money and thats convenient and user friendly exchanger wallet. After i got good profit i will take out my capital and leave my profit to role it again in the market.

vktrglbr

newbie

Activity: 112

Merit: 0

Quote from: dothebeats on April 19, 2018, 03:51:23 PM

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.

I think after this message can write nothing.I got all mistakes newbie - din't use stop-losses, din't fix x-profit, used all depo. This guy has a point, respect!

Marcel666

jr. member

Activity: 266

Merit: 2

The Premier Digital Asset Management Ecosystem

I always keep a set target, after which I lock my profit, and keep trying to grow my initial capital.

I always keep my investments to a minimum, handling too many coins at a time can be really stressful. I only take a handful at a time.

I always have a stop loss limit at which I cut my losses. And try to make up for it with other assets.

I take profits when I can, instead of hoping for more growth. I might miss a higher pump, but on Tuesday long run, it keeps me in the game longer.

And as a general rule, ALWAYS PROTECT YOUR CAPITAL.

Ashkap1011

newbie

Activity: 8

Merit: 0

I follow strict rules for every trade which help to lock gains and keep losses to a minimum. I always have a plan for every trade, my entry point, my sell point and my stop loss. I don't go for more than 1%-3% gains and get out usually at 2% loss. I have learnt not to Fomo and a lot more tips since I joined this discord group of cryptotraders https://discord.gg/HSMHyCy. They have a voodoo library with a lot more useful tips for daytrading, plus the community is great for new and experienced traders to discuss coins and the health of the market.

Topic: What are your rules for profit taking - page 6. (Read 1483 times)