what is the right time to cash out? - page 13.

susila_bai

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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 happens only when you watch the market and try to do trading, if you have some target then just put it and forget it because in bitcoin anything can happen. When you were selling their are users who have believe in bitcoin bought it and today you can see the price. That is why it is told that when ever their is correction take it as buying opportunity.

stomachgrowls

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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.

Sorry for your loss since you did easily panic and sell off your stash on lower prices which is commonly happening on most newbies since we dont still know on how bitcoins price do behaves on this market which it do drops but later on it would recover and would possibly reach up new heights.For sure this mistakes would really make you learning and for next time you wont able to commit such mistakes again and again.

ASHLIUSZ

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Cashing out btc is not a big thing to be done right now. The price on the growing side, based on which its good to hold the bitcoin expecting a good profit. There is nothing to be a right time to make use of bitcoin, maybe it's good as majority of the experts have predicted the price to be pumping much higher.

suvo05

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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.

Invest that much of money what you can afford to loose. I think you have invested a good amount of money and that is for the first time in the cryptocoins. Start investing with less money, spend some time on cryptocoin market , grow your experience and then you will be less nervous. Don't just panic and sell.

musharaf

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i think the bitcoin price will grow more but we should wait for a time. the currency like bitcoin will normal to a level where every one can purchased the prices will not that much drop down to a level that every body should scares because of that the prediction may goes wrong the future is bright. as for my self i am holding my bitcoin for the right time when i will make some output for me.

frowsiter

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That is called as “panic selling”. Thats the first and last mistake people do in the bitcoin trading and loose their investment very easily with a little bullish thinking. I have seen so many people around the internet/forum who complaint about the bitcoin that it is volatile and its not giving profits. I have seen many times that people are arguing on the volatility of the bitcoin and they blame its decentralised nature. But one should always remember that its not about the bitcoin but its all about the our mistakes! We tend to fall for stupid patterns and o the panic things as you did here. But we can learn form such mistakes and try to get in line with it. Now there is time when I don’t even look at my wallet even there are bad times for the bitcoin because I know it will re-enter with its original price and will pump further more.

ArIMy11

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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.

For me, the right to cash out my bitcoin or at least some of my bitcoin is
First when I need money. Why? for me, even though bitcoin price fluctuates still I have chance to double my money if bitcoin price pumps.
Second is when my target price is reach. Even though the bitcoin has a more potential to pump I will still convert some into cash. At least the bitcoin left has may double again or increase and get back the money I cash out.
Third is when bitcoin price pump into a much bigger price instantly. For me, after that instant pump, it the next thing to happen is the crash or drop or whatever you call it.
It is normal to make mistakes. We learn from it, so the next time the same situation happen, you / we know what to do.

gabmen

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Well that's a lesson learned for you dude. One thing you have to understand is that among all other altcoins, btc has the most and strongest support. So if the price drops like that, the worst thing you ca do is to panic because its mot going to take long before bitcoin bounces back even stronger

emmanborromeo67

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the right time to cash out. if the bitcoin price is increase beacause the more increase bitcoin the more amount you can cash out.

patt0

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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 is a normal mistake when you are dealing with bitcoin. The dips in the cryptomarket are huge, and it's hard to deal with them. There is a lot of speculation surrounding bitcoin, and most people still don't know if they should call it a bubble or not, so every time they see these dips they think it will be the death of bitcoin. Thing is, that BTC has been proving us wrong over and over again. After these big dips, the coin recovers and eventually sets some new records in price, becoming stronger than it was before.

It's hard to trade bitcoin, I would say that if you just hold your coins you will probably be just fine. Of course that we all want to take some out of the price fluctuation, and right now, I will try to buy at the dip, and them hope for a rebound and sell a small % for profit, and keep doing it, as the price keeps increasing. Note that I'm only doing this, because I believe in BTC. I think it will have global acceptance, so it's price it's still low at the moment. I'm buying at the deep simply, to get more coins for long term hold at a better price.

Bagaji

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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 you are in your target profit and not to sell at lost as a result of panic of losing your capital. You need to have faith in Bitcoin for you be afraid of altcoins buy it shouldn't be Bitcoin because its has a greater future ahead.

tomahawk9

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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.

Why were you so nervous? it's not like Bitcoin was going to crash or anything. Next time something like that happens (a sudden dip in the price) don't give in to 'panic sell', take a moment and look around for btc news, read posts, threads, social media, just so you have an idea of what's going on. I also recommend you to keep up to date with the current news so that you can be prepare for whatever is coming in the future (possible forks, network related issues, etc).
right time to cash out? depends on what your goal is (short-term profits or long-term investement for higher profits).

erickkyut

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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.

Patience is the most needed traits in trading. You need to have tons of it for you to be profitable here. I understand your frustration when Bitcoin price dropped to $6000. Every traders are experiencing the same thing. The moment that you panic is the moment that you'll lose.As for your question about when is the right time to cash out,it depends on your goal. If you are a short term trader, once you reached the desired profit, you can cash out immediately and if you are a long term trader, it depends on how many years you want to cash out your coins on a profitable price.

satria33

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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.

Why you so nervous? If you a trader you know when you buy and when you sell,if you get a profit its time to you to sell

liuqi

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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.

If you any emergency commitment with the bitcoins you holder in your wallet means exchange it now but no any works with that means you can hold it more than 2 years from now at least because bitcoin price potential will takes you flight for sure.
You will never loose the single penny instead of that you will be able to make triple the value you see in the chart.

krauzzer02

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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.

always read peoples opinions like here in BTT or in the Youtube trader channels because you will know what's the situation and what is the possible way to do for these times but don't rely in one article or advice because that may be a fud maker so always seek the majorities judgement so that you can come up with a good decision, when you heard that the majority of the miners and investors are drawing back from btc then you should think twice in hodling so that you may cut your loose, always control your emotions and don't listen to the gossips that btc is a bubble BCH is the true btc and it will dominate it.

gribble

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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 must understand about the analysis technical in trading before open position buy or sell the bitcoin, so everything desicions in trading activity based on your analysis, it will help you to control your feels of emotions (greed, fear, nervous and other) in trading activities, if you have made wrong prediction of price you can do stop losing and don't forget you must have the rules of trading be made by your self.

DrGuns4Hands

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Dont be in hurry. Wait for the perfect time where you will earn a lot of credentials. Its a big mistake when you got low earnings because of some rumors spreading. And be responsible for your self that you will not tend to panic selling.

kuronokishi10

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Quote from: VitKoyn on November 19, 2017, 04:43:29 AM

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.

When a huge price drops happen and you are scared of losing you money that will cause you to panic and will decide to cut your loss. Honestly, you can't stop panic selling if you trade cryptocurrency with emotions. That's not the right thing to do, you should think of it as an opportunity to invest more in a discounted price as many as you can. If you want to know when is the right time to cash out, you should always look for latest news about Bitcoin and make your own analysis, if you think that the price of your chosen cryptocurrency will crash then sell it.

Thank you.
I'll make sure I am up to date with the bitcoin news and always analyse the current situation and would make a better decision from next time

kuronokishi10

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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.

Yeah,that was a big mistake on my part,I just couldn't imagine what would happen if I loose more and impulsively withdrew all my coins,I'll again buy some when the prices drop as you said and won't repeat the same mistake again.

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