what is the right time to cash out? - page 12.

pikebu

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Well i think you must find your purpose of trading or investment into bitcoin or alternative coins, are you doing trading for main source of income in bitcoin or it is just for passive income? Should you doing trading is just for passive income ( long term investment), it will makes your emotions in trading activity to be cool and it will not be nervous because of the fluctuation of price and you must use iddle money in trading activity, don't use margin trading from the exchangers.

aardvark15

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

I’ve made this mistake in the past. Sometimes you just have to invest and then not look at it for a few months. If you panic buy and panic sell you’re going to miss out on gains. Cryptocurrencies are high risk investments and there will be volatility so you need to invest money that you can be willing to lose if it goes bad. This will help you be able to buy and hold long term.

With Bitcoin, you are most likely going to make money if you buy and hold for a few years even if the price drops some during that period.

nasibakar

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Every time is the best time to cash out,
I actually choose to hold thing now.

It may grow higher

BCTBF

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Whenever you cash out it depends on your own, if you already benefited from your trade, then you can cash out whenever you want. You are too quick to judge, you should be able to relax a little and not to fear and panic when a big dump occurs. investing in bitcoin is no doubt if you can be patient a bit. The bitcoin price will still go up and now you regret it.

illyiller

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Quote from: gentlemand on November 19, 2017, 07:37:44 PM

You can't go too far wrong with acting on the absolute opposite of the emotions you're feeling at the time. That's what successful traders do. If you're terrified and desperate to sell you should hit yourself and buy as much as possible. If you're euphoric and selecting Ferrari colours, hit yourself and sell.

This is generally where I'm coming from. Buy when there is blood in the streets. Sell when everyone thinks they can buy lambos next week by holding a couple BTC.

One caveat: This applies to Bitcoin, and by now, it might even apply to Ethereum. But when it comes to most altcoins, you need to be very aware of the fundamentals. If the market drops 80% in an altcoin, you better be checking the ANN threads and finding out why.

If an altcoin market is that bloody, there are often major fundamental reasons why: devs exit scamming, protocol failure, etc. In that case, do not buy when there is blood in the streets. Tongue

gentlemand

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You can't go too far wrong with acting on the absolute opposite of the emotions you're feeling at the time. That's what successful traders do. If you're terrified and desperate to sell you should hit yourself and buy as much as possible. If you're euphoric and selecting Ferrari colours, hit yourself and sell.

NewBet

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IF you are talking about trading, then there are three possibilities of when you should cash out.

1) If you made a profit. If you make a profit, then you can cash out and take your winnings. This is the best possibility.
2) If you need to stop your losses. Sometimes the market will go down and you will need to cashout to stop your losses. This is not optimal, but it happens to the best of us.
3) If you lost almost everything. Maybe you will lose everything. Then you will need to cashout your spare change in your account. But sometimes you won't have enough even to cover the fees to withdraw, so you would be left with nothing.

tommy05

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

This also happen to me when I am new on cryptocurrency ! I feel like when it started to go down a bit it will go down to the very end ! however traders don't think that way dont ever cashout unless you already gain an earning hold on to your coin and wait until it pump again

Wonder_woman

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Quote from: TheCoinFinder on November 19, 2017, 03:12:14 AM

That is the mistake an experienced trader might not do but you did it. You shouldn't have sold at that moment because it was only a rumour of bitcoin cash.
If you want to recover your loss and want to earn even more, you need to watch on market and buy when it falls down in value.
I hope bitcoin should again fall below $500, then it would be better to buy.

It is all done. Some of the traders commonly experienced that. Yeah, if their was high or low the trader are going to start feel doubt whether he sell it in high price because he has the fear of losing it again.

zulkarnaen

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

I do not think there's anything you need to regret because it's happened, and you do not have the confidence to invest in bitcoin, and whatever you decide is best for you, and let's just say it's a valuable lesson not to panic about doing things because often makes us regret later

illyiller

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

The old mantra generally holds true: Buy when others are fearful, and sell when other are greedy. Most people have the same psychology as you. They wait until the market is bottoming in a fearful capitulation before they finally sell near the bottom.

It's much better to sell into strength when the market is euphoric, then wait a couple weeks/months until sentiment has turned. Then, after the market stops buying and bagholders are jumping in front of one another to sell, you can be there to scoop up all the cheap coins.

This is the only way to handle a bull market IMO. You need to be buying the dips, not selling them.

Shenzou

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Quote from: Freegan on November 19, 2017, 05:45:18 PM

I believe that this would be the right time to cash out some little portion of your bitcoins, but only with the intention of buying more in case there is a correction in coming days, since the line of $8,000 could seem an important psychological level for the events of previous days.

But if you decide to continue holding, it is also a brilliant idea.

For last couple of days we have seen bitcoin rise back after the hard fork cancaling news, which had a massive impact on the price, and with the correction around the corner many would suggest to sell right now to avoid any loses, i personaly thin you sould wait and see what will happen because a lot of pople are looking forward to bitcoin reaching 10k before the end of the year and they want to push it to that point, so there will be a high demand a demand that will push the price, so holding it for me is the best option, but who knows this is the cryptocurrency market it is unpredicitbale, but it is better to be safe than sorry, you will always have a lot of chances of selling but a few chances of buying.

Panchum

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

The right time to cash out is when bitcoin value is expensive so that you profit a big amount Just like my sister said $40 today then after an hour the price of her coin become $1200 dollars in just an hour.so l found out that bitcoin price is very important to monitor because bitcoin price value of your coins may multiply 10 times to 20 times.Bitcoin for me now is the best because bitcoin gives the best income, profit and earnings.That the time of bitcoiners can have their benefits to be rich because of volatility price of bitcoin.Holding bitcoin also is required then sell it on the right time to to increase the value of bitcoin.Bitcoin holders has the chance to multiply in a million because the equivalent of their bitcoin is is very big amount when bitcoin value climbs to a expensive price.

Freegan

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I believe that this would be the right time to cash out some little portion of your bitcoins, but only with the intention of buying more in case there is a correction in coming days, since the line of $8,000 could seem an important psychological level for the events of previous days.

But if you decide to continue holding, it is also a brilliant idea.

Barbut

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Think about it alone, why you didn`t wait? There are two big reasons for that, one is you didn`t have trust in bitcoin second you are not patient man. With this two things nobody can`t help you, you need to do it alone. You need to learn that and practice that, and believe me nobody here can`t tell you exactly time when to sell or buy, I know that you wish that, but that`s impossible. Practice your skills alone and you will be much happier in your life, relay on yourself more then on others!

diouf67

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Well one of the first things that is really important to be able to do is try and remove your emotions from your decisions, you mentioned that you were fearful of losing money and having such an attitude will always hold you back in your decision making. The same can be said for the fear of missing out (FOMO). All of your decisions need to be taken with a clear and rational mind and that will enable you to have a much better chance at succeeding. It is important that you learn from your past decisions and constantly evaluate and improve.

noel2123

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

That the common mistake by newbies they are controlled by there emotions , Don't ever withdraw you coins if you are still at lost the right time to cashout is when you already make a profit from it ! if you are losing just let it stay there and wait until you gain you profit already ! hope you learned your lessons.

batang_bitcoin

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Quote from: kuronokishi10 on November 19, 2017, 03:05:45 AM

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

You don't trade that way and you have to make your heart stronger for now. Learn from that mistake that you are panic selling, first don't be a panic seller. When you see bitcoin's price starting to decrease, you have to be calm, away from the charts, from your computer so that you can't see that your investment is starting to lose. Bitcoin is a good long term investment, you invest today - forget it - get back to it after a year or more.

yamortsac

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For me, the right time to cash out is when you see that you investment has already earned your target profit. If you see that the price is down don't sell your bitcoin because its just a temporary price and for sure it will increase again. And for you not to feel nervous everytime the price is down, just invest the amount that you can afford to lose. And ofcourse it also the right time to cash out if you really need your money but if it's not badly needed, just keep your bitcoin.

Ctn

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If you are bitcoin believer and you think you want to earn big money with it then always remember the cash out point is after two to five years of time. Bitcoin is shit investment for small terms and it can never get you profits, a good amount of profit. What you did was your mistake and you should not repeat it agin. If by any small chance the bitcoin falls to below your current sell point then I will advise you to buy more bitcoin Tham last time and don’t think about it for a year. You will see that they have been grown from beans to fruits in no time. This is not philosophy class but a reality platform which is being proved again and agin since the year 2009. Now what to add more into it I don’t understand, its already best for long term.

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