What is your advice: When should I cash out? - page 10.

Thanasis

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

You need to set goal price for each of the coins you are holding when price reached your goal price then you just cash out from your investment,because the price is always going to increase so you need to decide when and how much profit you want.But in my view it is not the right time to sell bitcoin because the price will increase more in the coming days so I decided to hold my bitcoins until 2020.
Don't change your coins too often when it faces the price bumps because it will face price fall after the price increase so it is better to stick to one coin for certain period of time until you can earn good profit from it.

uztre29

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Sell your Bitcoins or anything you have at your own risk. After you are done reading all of the replies here, you are still the one that will make the decision in the end. You should look at the movement of the price of Bitcoin at the market. See for yourself. Analyze it very well. If you think it has a potential to grow bigger, then you must hold it for a longer time. But if you think its price will be dumped so hard and it will take time to come back at the high price again, then you must sell it immediately.

syamster

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

It’s a right time to sell out all your bitcoins because if you check the price of bitcoin its very high and may be in next week its price go more high then ever so you can sell it in next week also but a lot of people start selling in this week I also sold some bitcoins this week and I got a very good profit and some of bitcoin I left for next week but its confirm that this year the price of bitcoin is very high then ever so this is a right time to sell bitcoin.

equator

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Taking anyone advice wont work , when ever you feel that what profit you are getting is enough that is the correct time to cash out, Bitcoin reached 17k+ and now it is down to 14800 price, so profit booking time started and next uptrend is going to happen.

reck1ess

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For me, it is better to hold rather than risk trading. Although it gives you much profit but the difference in price when you buy and sell bitcoin might lose you some of your profit. But it's up to you. Trust your trading skills.

dothebeats

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That is a vague question and greatly depends on what you think is "profit". For me, I bought at $4400 and I'd gladly take profits if the coin hits $20k a piece. Though I'm already in big profit, as of now I'm trying to stop myself from cashing out since there is still a huge room for any profits to be made before the year ends. Still got 2 weeks+ on the calendar for something to happen.

White32

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The best time to cash out is when you really need money to buy something that worth and to invest some property such as house and lot, farms, itc....

Vritesh

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I think you should cash out when the purpose for which you invested have been fulfilled means the time when you are getting the amount of profit you wanted to earn from your investments ,at that time you should cash out.You can also cash out when your in the need of money.

Enjel

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Just to be clear, the only reason I would "cash out" is to sell high, and then buy low again.

What I was asking was not "when do I abandon my coins forever" but rather "how do I make good calls on the price"?

I gave an example in my OP, where if I had exchanged Bitcoin for ETH/LTC, I would have made a big profit, and then later maybe exchange back, etc.

Anyways, thanks for the responses.

RawDog

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

How do you know when to cash out??

That's the bad news that nobody is talking about. You never cash out. You have to hold forever. Bitcoin just keeps going up, and up, and up. That is because it is superior to fiat currency. Your government will try to fuck you forever. So, Bitcoin is never going to be worse than your lousy country's money. Your net worth just keeps going up until the day you die if you hold bitcoin.

Cash out if:
1) You want to intentionally lose money
2) You wish to remain a poverty victim for the rest of your life
3) You already have 47 Lambos and don't want another one.

Carmen01

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

do the sure thing always then try also even you need to take the risk like sell some of your coins,cash-out some of your earnings then do invest again so atleast if any of your coins not go well and bitcoin not go well also you have already profit because you cash-out some of your money and to think more that's wise strategy to do for assurance or safety move here in bitcoin,I think security in money is the best then try to invest again that you can afford to lose like repeat what you do to have profit here in bitcoin and a good think or do wise again

ammo121810

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Well what I can say is that if you think you had earn good enough you can sell your bitcoin partially for you to be able to enjoy the profit that your investment earned. Hold the remaining because of the high rate possibility that will happen in the next coming months.

mayidid

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Cash out for the following reasons:
1) You need the money for something important or for retirement.
2) You want to cash it out and put it into something more conservative.
3) You are trading and are selling high to buy back low.
4) You think the price will drop due to bad news, a pump, a potential fork, etc.
If you hold long term your investment will probably make money, but if any of the above apply to you, then you may need to sell.

superjeyy

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Quote from: masterbt on December 08, 2017, 02:05:26 PM

Mostly, you can do a safe cashout when the price change is not different for a week or atleast a day. you can't always try to cashout at a high price that produces risk as transaction cost and waiting time is very high at that time.

I agree with masterbt. You should be highly aware of the circumstance before cashing out your Bitcoins. I guess most people here would say that you should make the most out of the high Bitcoin rate and cash out during these times, however you should take note of the other factors as well as your actions that may lead to an unfavorable result. Bitcoin may be volatile but you should know its current state and the progression it is bound to take . You should also be aware of the consequences of cashing out during the glorious moment of Bitcoin before doing so.

HabBear

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

You're not really into Bitcoin or cryptocurrency, huh?

Cashing out and using your bitcoin to buy things are different things. If you're waiting for "the right price" to get out of Bitcoin, you should just get out now. We don't need people that are solely in this for the quick dollar return. We need people that believe in Bitcoin, the fundamental role it plays in the world, and the success that is just starting to float its direction.

You should be treating Bitcoin as the place to keep your wealth and sell it for spending only.

How many of you are here just for a quick Bitcoin return and who's into Bitcoin?

Thank!

michellee

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

the important thing that you should learn is how much profit you want to take so you know when the time to cash out. I know the time for cash out when I am making much of profit. from that profit, I cash out at least 30% of the total of the profit or if I have urgent situations and I really need that money, I will cash out with fast. only you that will know when its the right time to cash out.

Pinoyfan

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Quote from: Enjel on December 08, 2017, 02:01:43 PM

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

The value of bitcon now is become more powerful and i think bitcoin will increase more and more and i dont think if bitcoin goes down to$2000 so if you want to cash out think before you cash out because its more good to hold it.

Text

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It seems that you already knew when to cash out, it is when you need money to buy something or a gift. For me, there is no actually right time on that because as you really need to spend it and I think you deserve to have what you wanted. Just don't take all it out because it is better if you still left some of your coins as your investment. In terms of trading, don't be greedy; if you think you have enough profits, be contented.

Dudeperfect

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Well, you are on track when you cash out when there is a need for money. However, if you are expecting gains from the cashing out as compared to that of hodling the same then do not forget to consider the possible growth of the Bitcoin and the other option in which you are cashing out the same eg: ETH, FIAT etc. I would say, study the returns on investment factor deeply and compare it in both the options.

judemarco1996

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Do you think will bitcoin decrease its values like how its value increase this coming months?

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