What is your advice: When should I cash out? - page 7.

Silberman

legendary

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Quote from: babygun on December 19, 2017, 05:51:44 PM

Quote from: OMGyasuo on December 15, 2017, 09:46:04 AM

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.

I think now is the time for you to sell your btc. Prices have probably reached the highest level. The demand for btc is decreasing. So maybe prices will not keep rising.

Cashing out at the "right" time is very difficult. The ideal scenario is always: buy low and sell high, but this is just in theory.
Giving the high rise of bitcoin, I am also thinking of cashing a little bit of my BTC, enough to have a profit and hold the rest.

There is a right time , but people do not plan for it, for example if you know you are going to need money in 3 months then there is no point in waiting to cash out just before you need the money, watch the market and cash out when the price is at its highest that way you get more money for your bitcoin and also only cash out what you need, you do not want to miss on a price increase and instead of having bitcoin you have worthless fiat.

mriansa

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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.

if you are stuck in a very expensive bitcoin price then I recommend buying altcoin coin whose price is still cheap because if not so bitcoin you have can not grow.

richardsNY

legendary

Activity: 1232

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Quote from: Enjel on December 23, 2017, 04:52:44 PM

Definitely used my intuition, since there was no way the price pump was healthy.

It was indeed a much needed correction, and we finally have seen it kick in. If the market remains relatively calm, current levels should be maintained without much problems, of course, with the well known ping pong movements between a certain range. That being said, it was quite an over-exaggerated sell-off that we faced yesterday. It was pretty much a one way ride, and that was down with no exceptions. I still wonder whether or not it were old hands liquidating their profits in a rapid manner instead of patiently doing so without taking the market down. We'll probably never know, but I am happy that it granted me a very decent entry point.

Enjel

member

Activity: 70

Merit: 21

I recently took out a good amount of my portfolio at ~17k and managed to get back in at ~12k to 13k, which worked OK. Right now the market looks very volatile and uncertain - no one knows if it will go up or down.

Definitely used my intuition, since there was no way the price pump was healthy.

megget

member

Activity: 140

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This is the most important question for any trader. It all depends on your greed. I think if I closed the deal in plus, and after that the price went up, I'm not upset. Someone closes on graphical analysis, someone on the indicator or Fibonacci levels.

jundel

member

Activity: 314

Merit: 10

if your personality makes you a good short term or long term trader go for it. as long as you are satisfied with the value and wont regret the move, its good

BLAST2MARS

full member

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In my opinion, it's good time to cash out when my altcoin suddenly spikes 100% or more because after a day it is certain to decrease or have a correction.

Willitivity

sr. member

Activity: 1190

Merit: 256

Cashing out is a personal decision for anyone, similar to you, I cash out when I need money to attend to some needs. But you can as well cash out when you're comfortable with your profits, or if you forsee any upcoming dip, you cash out and buy back during the dip. Everyone has different times for cashing out.

heringasem

full member

Activity: 168

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I sold 0.50 bitcoins at $20000, it was probably the best decision that i took, because a few hours later the price dropped to less than $19000, and a day after that it dropped to $16000.

But yes, if you have the possibility to keep holding for a while, just hold it, but if you can not, just sell them right now instead of having a headacche and nigthmares about possible bitcoin crashes, lmao.

gabmen

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Quote from: manismanja on December 20, 2017, 01:09:04 AM

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.

we can spend cash when we already get profits in trading and in dire need of money, if not yet need money then we do not need to spend cash or withdraw cash, leave it for trading.

The coins you're currently holding are for long term and cashing out should probably be only when you need it. Btc, eth, ltc and even ripple may go way beyond what we expect in a few years so cashing out on these coins entirely should be reconsidered

manismanja

member

Activity: 518

Merit: 11

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.

we can spend cash when we already get profits in trading and in dire need of money, if not yet need money then we do not need to spend cash or withdraw cash, leave it for trading.

johnrickdalaygon

full member

Activity: 182

Merit: 100

If you will need money better to cash out some of them but if you'll see that the price is continuously rising better to hold until you gain much profit Cheesy

then if you'll see that bitcoin is continuously dropping its value you should decide whether to buy altcoins, hold or cashouts.

Wish 107.5

full member

Activity: 420

Merit: 102

Quote from: kunalqwe on December 08, 2017, 02:07:59 PM

be carefull and always try to cash out when price price of bitcoin is high and stable

You could do cash out if you badly need money but if not, it is not necessary to do cash out. Holding your coins would be better and would be more profitable. It is just a long term but definitely a good idea to save more money.

babygun

sr. member

Activity: 2226

Merit: 254

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Quote from: OMGyasuo on December 15, 2017, 09:46:04 AM

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.

I think now is the time for you to sell your btc. Prices have probably reached the highest level. The demand for btc is decreasing. So maybe prices will not keep rising.

Cashing out at the "right" time is very difficult. The ideal scenario is always: buy low and sell high, but this is just in theory.
Giving the high rise of bitcoin, I am also thinking of cashing a little bit of my BTC, enough to have a profit and hold the rest.

julzcoinbit

full member

Activity: 434

Merit: 105

Quote from: coinplus on December 15, 2017, 10:36:05 AM

Quote from: danpaz on December 10, 2017, 01:27:38 PM

Trust your guts, when you feel its time close the deal and wait another good entry if you plan to trade again,
By the way nice job on diversifying your portfolio, good job not all traders like the idea of diversifying investment

That is just the truth. No one can make any decisions for anyone. We all just have to trust our guts to some extent and deal with whatever comes after it.

Most times, the chart would basically tell us what to do at a certain point in time, so no one can really say what the future will hold regarding to that. So, once we make the decisions based on that, and even if things should end up going the other way round, then we will know how to make amends quickly.

I agree, the only reference that could we do is to monitor on its chart. Bitcoin is unpredictable which we couldn't even know when it will be going up or down. If you invest a huge amount of bitcoin when in the value of bitcoin is not as high as todays value, well as of this moment you have a huge profit. Somehow, if you feel that its a right time to cash out as you already contented on that certain valie then go, its your own choice.

Silberman

legendary

Activity: 2716

Merit: 1383

Quote from: rodalutor on December 14, 2017, 01:10:06 PM

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 sounds like you have a strategy that is working for you and you are comfortable with so why try and change it? If you are considering about cashing out of crypto all together then that's a you decision, consider how much that money means to you in terms of quality of life and how you would feel if you missed out on further gains with crypto, similarly consider how you would feel if you lost all of that.

He does not want to change his strategy he wants to adjust it which is not exactly the same thing, in life you need to keep reevaluating your options so you keep getting the most out of your investments, for example lets say you buy a house and you begin to rent it but you never raise the price of the rent, in ten years your rent will be very cheap, so you need to adjust your rent every year.

Darknight31

full member

Activity: 209

Merit: 100

Quote from: ammo121810 on December 09, 2017, 01:59:25 AM

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.

Well it depends on you. If you need the money then you probably must cash it out. But if you are not gonna use it maybe you should hold it a little more longer because the price might increase and you'll earn profit. But you can also cash out some and use it to buy for yourself, and hold and let the remaining to earn profit.

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: Silberman on December 15, 2017, 03:06:23 PM

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 are not really thinking about cashing out you are thinking about rebalancing your cash allocation, the most conservative approach is to do that once a year decide a date and rebalance your portfolio to your desired amounts and then one year later readjust your portfolio, if you are more aggressive you can do this several times a year that way you will not miss pumps like the one we are seeing now.

My advice to this are the about bitcoin to hold it and it's rate was very high around $17000 and above so when price increase and that only we need sell the bitcoin.You should keep calm and hold the bitcoin and you will get profit if the reaches very high value.Avoid of panic selling,o lose your money.

Silberman

legendary

Activity: 2716

Merit: 1383

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 are not really thinking about cashing out you are thinking about rebalancing your cash allocation, the most conservative approach is to do that once a year decide a date and rebalance your portfolio to your desired amounts and then one year later readjust your portfolio, if you are more aggressive you can do this several times a year that way you will not miss pumps like the one we are seeing now.

coinplus

legendary

Activity: 1386

Merit: 1058

Quote from: danpaz on December 10, 2017, 01:27:38 PM

Trust your guts, when you feel its time close the deal and wait another good entry if you plan to trade again,
By the way nice job on diversifying your portfolio, good job not all traders like the idea of diversifying investment

That is just the truth. No one can make any decisions for anyone. We all just have to trust our guts to some extent and deal with whatever comes after it.

Most times, the chart would basically tell us what to do at a certain point in time, so no one can really say what the future will hold regarding to that. So, once we make the decisions based on that, and even if things should end up going the other way round, then we will know how to make amends quickly.

Topic: What is your advice: When should I cash out? - page 7. (Read 2769 times)