What is your advice: When should I cash out? - page 8.

OMGyasuo

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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.

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.

maxamus

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Quote from: hookcoin on December 15, 2017, 02:42:15 AM

You should withdraw money when you feel the bitcoin is showing signs of market bubbles. Because sometimes you can see the bitcoin is pushed too fast and the market can not accept it. That's when you need to sell the bitcoin, but then buy a bitcoin at a lower price because you know where the future of bitcoin is going.

I think we cannot call bitcoin market as bubble anymore as when ever there is a surge it sets a new benchmark and the value does not go below that so it will not be fair to call it as bubble rather cashing out the funds purely depends on the needs of the holder as if it is some sort of emergency or need financial help or going through financial crisis then I would suggest to withdraw the funds as the sole purpose of holding bitcoin is to have sufficient asset when you need it so there is No harm in cashing out for needs.

moonchaser_babylove28

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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 all depends upon your needs, when you have an emergency or you really need that amount surely you will need to accumulate everything that can be accumulated, and bitcoin is one of that. Try to earn a little each and every now and then. By asking more of the price then you are losing more chances to earn. This I experience just recently, train yourself your emotions then you will earn little by little.

upsidedown75

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Quote from: TomUyamot on December 11, 2017, 02:03:52 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 admire your entire approach to managing your crypto investments. In particular, cashing out only in times of real need is a very great attitude you can really be proud of. I think you should focus less on the rise and fall of your coins' market. It is, after all, very basic that such coins will experience high and low points in their valuation. In the end, their entire worth is still rising in general. So just do your holding thing but couple it out with constant following of your coins' updates and news.

The thing is if he is not ready to thread on the trading part, then it is just better for him to hold. However, that would have been a lovely decision as that was expected though. Nevertheless, he should not just base his decisions without a strategy as in that case, I consider it as gambling instead.

He could have been wrong, but with the look of things at that moment, it was good. So, he should be ready to make his own decisions and be willing to own up for them.

hookcoin

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You should withdraw money when you feel the bitcoin is showing signs of market bubbles. Because sometimes you can see the bitcoin is pushed too fast and the market can not accept it. That's when you need to sell the bitcoin, but then buy a bitcoin at a lower price because you know where the future of bitcoin is going.

Shenzou

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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.

First of all your strategy is good and you are doing the wise thing by investing in multiple coins, that way you are ensuring that you are getting profit regularly, second when it comes to bitcoin cashing it out is really a difficult decision, because once you do you won't be able to rebuy again unless you invest the money you cash out into something else that will get you more profit than saving bitcoin and watching it rise, I personally think that the wise thing to do is to set a goal for yourself and decide that at a certain price point you are going to cash out, and by cashing out I don't mean all of it, split your cap into tow half's, sell one and save the other, that way you are making sure that you won't lose.

LordDisick

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In my experience I only cash out if I really need the money but if not I keep holding. For me its okay to cash out specially if bitcoin price is very high you have nothing to lose anyway. You are just getting your profit. But to be safe just cash out for emergency uses.

Oilacris

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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.

Cash outing your profits would really have different reason among people on where they would tend to make use of those either on re-investing or on personal reasons.It depends because we do have different situation when it comes on money or financial aspect and needs on daily basis.Some doesnt really care as long he would re-invest but on some people have responsibilities on life which they would really need to cash out once they do gain profits.

pushkarmore

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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.

Ok so your problem is in exit or cashout, see for that you must first have a good trade plan and exit strategies in your plan. There are many ways to exit from a trade, you can choose to exit from an investment trade if you have reached your expected returns of the target or if you have hit maximum stop loss.Make some kind of technical strategy for exiting something like 3SMA crossing 12SMA.

rodalutor

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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 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.

Kevin77

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Quote from: Sasuke102001 on December 11, 2017, 01:33:41 AM

NO one can advise you when you should cash out it is totally up to you when you want to sell. It is you who has to decide when will it be profitable for you to sell your bitcoins. One thing that can be suggested is just keeping in mind, only sell when you think you are making a profit and just don't sell anytime you feel that won't be a smart move.

Yes, obviously. Everyone knows what they look for in a trade and as long as you know what you are doing, then there is no need asking for opinions. BTC market is one market that is highly unpredictable as you might predict one thing now and then you discover something else happening.

Like you said, it is not really a smart move to just sell at any time, and most times, it is always better to even sell when a correction is imminent. So the best, is to wait for that moment and if anything goes wrong, just know how to bail out quickly.

CryptonikaTrade

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You shouldn't go out from btc. Hodl BTC is better idea for any times

sana54210

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Quote from: Denamen on December 11, 2017, 04:12:30 AM

Yes, I completely agree with you. Bitcoin is so hot now. Its price increase every day. So, if I dont need money for my personal works, I wont withdraw.

Honestly, I really would not even bother.
In this case, I even consider charts as an enemy because they might get you confused. Even as a trader, you cannot always get it right. The market is so unpredictable and anything can just happen, so it is a moment to always be ready for.

If the OP knows he is not on the charts to monitor activities and base his decisions on that, which in that form, he should know he is trading, then he should know that anything after then, most especially without a strategy is going to get him taking a huge fall.

tibor

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In my case I have some coins that i HODL and other ones that I trade, this way im not worried about cashout, maybe im not going out of a position on the best moment but i still have the Hodl coins.

biletskiy

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Not these days, I suppose. Wait a bit for stabilization of Bitcoin and altcoins. I would better wait for Ethereum Classic fork also - the event can affect the alts' prices as well. However, it is always hard to predict the right time of cash out.

CodyAlfaridzi

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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.

Well, believe me, there's no such methods to get a certain prediction. At that time when Bitcoin was in 18K, you didn't know whether Bitcoin will fall/retrace or keep pushing up to above $20,000. Right? If your simple strategy is already making you money, keep doing it. Don't be greedy and telling yourself "If I ... I could have ... ". It's a useless thought that will only waste your energy. Your strategy is already good IMO. Buy everything that seems too low or underpriced. The ETH dump to 0.022 was quite crazy though so I managed to buy some, but still I didn't catch that LTC train.

Never go all out from Bitcoin. That's the most profitable advice Cheesy

Just like you, I personally never sold Bitcoin more than I need to. Even though I'm a lot richer than I used to be, my lifestyle didn't change a lot. Try to hold as many as you can, the future of Bitcoin will be so exciting.

bubble pop

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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 can cash out anytime you wanted to it is depends to you. But for me as long as the value are growing you should still hold that particular coins because that can give you extra profits. But if you need money then cash out but never cash it all out in one sitting because that will leave you no investment for the future. I advise that you should always cash out ehrn the value rises because that is a great opportunity me personally i always cash all my money when that particular coin pumps then i will save my money into another account i always diversify to some security purposes.

shamzblueworld

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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.

I think you're doing it right for now, cashing in when you need to.
Otherwise if you're interested in cashing at high and investing in others that are low, you should sell when the price is stable at a higher value and buy when it is stable at a lower value.

Enjel

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Thank you everyone the responses. There is a lot of good information here. You are right - this is the fundamental question of traders, and no one can answer it or else they could make unlimited money. In the end it is an individual decision, and there are several decent strategies of when to sell+reinvest.

dvillier

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sell your Bitcoins or anything you have at your own particular hazard. After you are finished perusing the greater part of the answers here, you are as yet the one that will settle on the choice at last. You should take a gander at the development of the cost of Bitcoin at the market. See with your own eyes. Dissect it extremely well. In the event that you think it can possibly develop greater, at that point you should hold it for a more drawn out time. In any case, on the off chance that you figure its cost will be dumped so hard and it will require investment to return at the high cost once more, at that point you should offer it quickly.

Topic: What is your advice: When should I cash out? - page 8. (Read 2769 times)