Of course, this differs from one trader to another, some of them set a distant goal and do not take their profits except when the goal is achieved, and others are satisfied with a few profits.
For me, I prefer to take my profits quickly (except for Bitcoin), through my trading experience for several years, I learned that taking profits is the best way, many times I do not take my profits immediately and then regret it later.
But the matter with Bitcoin is different because it depends on Hold in the long run.
Topic: What is your profit taking strategy? - page 3. (Read 319 times)
My past experiences have taught me not to wait for more than x2 profits on my crypto investment before I can withdraw my altcoin profits. To prevent what occurred to me in the past from happening again(losing my altcoins since I was hoping for the market to increase as forecasted by cryptocurrency influencers).
Nowadays I do sell off all of my altcoins that I have no matter what, apart from bitcoin. Am not ready to be risking it by waiting for the price of altcoins I hodl in my portfolio to skyrocket more before I could sell.
Nowadays I do sell off all of my altcoins that I have no matter what, apart from bitcoin. Am not ready to be risking it by waiting for the price of altcoins I hodl in my portfolio to skyrocket more before I could sell.
I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
That's depends on individuals trading priorities, some people target at every single pump, some target long term pump so even when is dropping they don't panic. Some even trade as daily income project, they check it every single seconds like soup. But the most important thing is to be accurate with analysis, so that's you will the bearing and bulling direction, how long it will stay dropping or going up, you quickly take profit when its pumps and is about dropping. Then you for it again when it dropping to some resistance of pumping again you buy or invest as the case may be, so it all bolls to individual game of trading.
For me once it has exceed my capital and good take, am good to go
I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
If you want to take decent amount of profits, then prepare to hold your coins for long term, most especially for bitcoin and ethereum as they are the most profitable coins in the crypto market. However, selling when you start seeing the price has been doubled is not bad, but you can make bigger profits instead if you take more time to hold and only sell them when you need them the most, or when you think the profits are big enough for you. In the end, you still hold the final decision when to sell your coins. I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
This profit taking process by hodlers and traders kind of gets mixed up causing confusion... But how I see this hodlers simply have to buy and forget and it should be stated that this process is long term before you get to see some real returns on investment, while the process for traders is more aggressive as their returns is much more faster, bigger and risk is higher as there is an element of losing money should price go against what we anticipated.
Btw getting a 2x return as a hodler takes forever while going the traders route a 2x or 3x is super easy to attain.. It's all about the risk appetite.
Btw getting a 2x return as a hodler takes forever while going the traders route a 2x or 3x is super easy to attain.. It's all about the risk appetite.
I used to have (or at least I thought that I had) a profit staking strategy but then I realized that every time bitcoin would reach my set price, I would sell only a small portion of what I initially planned and just kept hodling the rest while waiting for another bull run. So far this tactic worked great and I have way more bitcoin that I thought I would several years ago.
With that being said, I do spend bitcoin on the regular basis on everyday stuff (monthly sub for VPN, IPTV, Netflix, Disney etc - some are done directly with bitcoin and some via crypto debit card) and I try to time big expenses when (house renovation, new car etc) I think that bitcoin price is high enough.
With that being said, I do spend bitcoin on the regular basis on everyday stuff (monthly sub for VPN, IPTV, Netflix, Disney etc - some are done directly with bitcoin and some via crypto debit card) and I try to time big expenses when (house renovation, new car etc) I think that bitcoin price is high enough.
~snip~
Just wondering what everyone else does when it comes to taking profits?
Just wondering what everyone else does when it comes to taking profits?
Who says we all have the same goal? I'm not saying that I wasn't once in your shoes, but the whole point is not that you only care about profit, but that you sometimes try to use Bitcoin as a currency - there are certainly some things that you could buy/pay for online.
If you only want to make a profit then try to play it safe, buy during a bear market, start selling when we are in the middle of a big bull run and keep doing it as the price rises. There is no other great wisdom in all this, because it all boils down to how consistent you are and how well you know how to judge the moment, and of course whether you can control your greed.
Just wondering what everyone else does when it comes to taking profits?
most investors hold onto their assets for a long time. although some of the benefits are already visible in front of the eye. but long term investors have their plans.if you are new to holding your assets. and the profit you get is enough, you can get out of your investment and wait again to be able to enter when the market is a dump. but if you want to wait longer for the bull to come in the future, you can calmly hold it.
you determine how strong you hold and how much profit you want to get
I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
I have made many mistakes myself by not taking out the profits while it lasted.
Trusting a project deeply is one thing and taking out the profits on regular basis is another thing.
I think other than bitcoin and ethereum all other projects are those where we should take out the profits on regular basis.
For bitcoin and ethereum it can be a good thing to hold for long term.
Just wondering what everyone else does when it comes to taking profits?
Ive failed on taking much profit last bull run so my goal now is typically hold my major alts and btc and stake some of my stakeable asset while waiting for target price to sell. Its really a hard discipline if you are a long term holder, but I am sometimes cashing out my asset if I need some extra funds for my leisure and trips. Or if needed emergency money. It depends on how strong the altcoin project is OP, if you already make 2x you can take profit and leave the rest for the next bull run, but this is not my strategy, I don't like selling coins in a bear market because its not a good time to sell but a good time to buy instead, I have alts that are currently at 5x but I don't sell, they have good potential that's why I don't bother to take any profit at the moment.
That is brave 5x and not taking any profit.
I suppose it depends on the altcoin. The two that I took profit on at 2x are both micro caps so big risk, not sure if they will even make it till the bull run next year so thought I would play it safe and take out my investment.
It depends on how strong the altcoin project is OP, if you already make 2x you can take profit and leave the rest for the next bull run, but this is not my strategy, I don't like selling coins in a bear market because its not a good time to sell but a good time to buy instead, I have alts that are currently at 5x but I don't sell, they have good potential that's why I don't bother to take any profit at the moment.
Bitcoin/Ethereum: Pretty much long-term holds. Not taking out money unless I really need to.
Everything else: Sell when the hype dies down, or when the token reaches fair value. Might take the risk and hold for longer if in an explosive bull run.
Everything else: Sell when the hype dies down, or when the token reaches fair value. Might take the risk and hold for longer if in an explosive bull run.
I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.
It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?
Just wondering what everyone else does when it comes to taking profits?
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