What is your profit taking strategy?

SOKO-DEKE

hero member

Activity: 840

Merit: 570

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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 have planned myself that I will not be taken anything profit expect doing bull run period, so no matter how the percentage of the profits I may make I will not take it, because I have promised myself that any profit I make from Crypto industry after four I will invest it in physical things and I believe that it is only doing bull run period I can make huge profits that can do tangible things.but with this my strategy I only invest in Bitcoin,I don't invest in any altcoins because I don't believe much in them.so I always feel myself that I am in a saver side for long term crypto investment and free my mind from worries about what I don't much.

dansus021

copper member

Activity: 2156

Merit: 983

Part of AOBT - English Translator to Indonesia

I actually already post like this before hahaha. But I will give my answer again I'm going to take profit when I think is enough, some of traders will take profit 2 times from their stop loss 2:1. i saw a lot of it on youtube . but don't be greedy there is always a feeling not enough but is bad for you.

Partially take profit and hold it and if you scare of losing then place stop losses above the entry line. It can make sleep you well at night. but if you are long-term holder like warren buffet just buy and forget and take profit when crypto reaches their new ath 4+ Cycle.

Jon_Hodl

member

Activity: 246

Merit: 93

Humble Bitcoin Stacktivist

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

Just wondering what everyone else does when it comes to taking profits?

I work a job and buy bitcoin with the profit I earn at my job. That's the best way to take profit. Everything else is likely to end up to get you less bitcoin in the long run.

It's easiest to just stay humble and stack sats.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

If you just want to settle with your profits then choose bitcoin after selling those altcoins and just keep it from there for a very long time if, you're a long term holder.

Otherwise, just convert it to a stable coin so that whenever a dip comes, you're prepared for it and you'll use it then eventually everytime you see an opportunity that knocks with some of those that's part of your choice to be added into your portfolio.

It might not that be encouraging sometimes but you'll get there and you just have to get used to that style.

Sanitough

hero member

Activity: 2856

Merit: 674

Quote from: cryptoaddictchie on February 20, 2023, 10:27:52 AM

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

As long as you never sell for unreasonable basis, I think you are still profiting from it on the other part. But if you want to accumulate maximum profits, then stay focused on bitcoin and major altcoins as they can be highly profitable if they are hold long term. And only sell then when bull run comes which means time to reap what we have invested long term.

Finestream

hero member

Activity: 3052

Merit: 606

Quote from: mk4 on February 20, 2023, 10:02:47 AM

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.

Right. Stick with bitcoin and ethereum, they can be high-yielding investments in the future. A lot have proven it and become successful investing from them. As long as you don’t panic everytime the price crashes, then you’re good enough. And stay away from unestablished altcoins as they can never sustain their value in the long run and still end up worthless of our money.

Botnake

hero member

Activity: 2856

Merit: 667

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

Focus on bitcoin, that way you are getting more chances to win from your investment and be highly profitable when it’s price has reached another peak. And don’t sell when you don’t badly need it, accumulate more instead and keep them hodling until you find the market profitable enough to sell. Stay away from altcoins, especially those who are new in the market as they can be good for nothing and you’ll only lose your funds trusting them.

NicNacCoin

sr. member

Activity: 1386

Merit: 451

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

Good thing you got profit by investing in cryptocurrency but one thing seems very risky to me. Since you have invested in an altcoin, it is important for you to invest in Bitcoin from your altcoin investment as soon as possible. Investing in Altcoins is very risky and Altcoins can be dumped out of the market at any time. So your investment should be Bitcoin focused not Altcoin focused.

GigaBit

hero member

Activity: 1666

Merit: 513

Leading Crypto Sports Betting & Casino Platform

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

You are 100% safe here as you get 2x profit on two altcoins and withdraw your invested money from these investments. If you think those two coins are potential then you can hold them and if not then reinvest elsewhere as per the current condition.

Quote

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?

It will mainly depend on you and market conditions. If you think you can get more than 2x profit in next few days then you will keep it and if you think you can get better returns by investing your assets elsewhere then i think it is worth investing. I usually take 20% or more profit from any asset. It basically depends on the investor what he wants to do.

Peanutswar

legendary

Activity: 1708

Merit: 1280

Top Crypto Casino

Its all depends on your strategy there are some people doing holding for a long term and short term for me top 5 coins like the bitcoin and eth could be a good thing for over a years for holding but if you want to get ride with the market volatile better to take a ride with the short term trading making a small profit every time the price of the coin goes up and down but this takes too much time and must need to keep an eye it depends on your capability to watch the current market movement, at the end of the day profit is profit still always do the basic. Cut the loss and take the profit.

Razmirraz

sr. member

Activity: 1316

Merit: 422

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

Just wondering what everyone else does when it comes to taking profits?

Set targets and adjust them consistently, investment knowledge is also required in order to be able to calculate when to buy and when to sell schemes. It's not easy to achieve success in investing in crypto assets, be a non-greedy investor. When you get a profit, don't expect bigger profits and don't use emotions when the goal hasn't yielded results.
There are many ways you can take profits depending on market conditions, you can change your plan if you feel that the profit generated is sufficient and come back when market conditions are not healthy.

libert19

hero member

Activity: 2520

Merit: 952

Idk about you but my mind feels free once my initial investment is out so i'd say it's always good idea to take profits (2x seems good choice) and let rest ride it's own course.

jeraldskie11

sr. member

Activity: 1316

Merit: 356

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

Actually, it depends on your perspective and your trading plan. Some people has a fixed 2x take profit every time they trade because they find it to be profitable.

But, waiting for 2x gain before taking profit is not working for me, I backtested it and will only hurt my emotions because most of my trades almost hit the tp but end up hitting the stop loss. That's why, I decided to change the way I take profit.

Every 20% gain, I will close 25% of my margin and move my stop loss into my entry price so that I will not get loss incase the price hit my sl.

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

~

Usually I take profits when Bitcoin pumps at least around 20% and then just keep it again. Those holdings are just like my sideline to earn from and I do have a separate "mother" hodling that I don't entirely sell or touch at any point. It is just there to be a long-term holding nothing else.

Back then I bought altcoins and whenever the increases looked so unrealistic, I would sell it right away. I do not want to end up in sharp red line. To answer your question, no it is not just 2x nor it is too early. It depends on the urgency on how you need the money.

GiftedMAN

hero member

Activity: 924

Merit: 600

Leo is resting.

Quote from: Nheer on February 22, 2023, 08:21:07 AM

Quote from: mk4 on February 20, 2023, 10:02:47 AM

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.

I have lost interest in altcoins as well because u can see a coin pump and when you wake up its going down and that might probably be the end of it. Though i am planning to hold some few altcoin as well when bull run is around the corner like eth, bnb, sol and some few. I will keep holding my bitcoin no matter the market situation.

Just so you don't end up hoping for profit and get disappointed when all your funds are gone, altcoins have no future, sell them all and focus your investment in bitcoin because for what has been seen in the past, we are close to entering the next bull and the amount of bitcoin you hold now will determine how much profit you stand to get. ETH could be a good investment too but the rest that you mentioned here are all shitcoins and can't be matched with bitcoin.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

If it is about Bitcoin, I am taking profits from Bitcoin for a long-term period, which means that I am still waiting for the bullish era of Bitcoin to take the profits. This will be worthwhile for me because I am no longer a high-risk taker for Bitcoin investment, so, this will not really give any big influence for my portfolio with this current pump.

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

If that is about altcoins investment that is for a short-term investment, this will be worthy if you take the profits right before the price probably dump again right? But if you want to make it as long-term period, you must also be able to consider if the altcoins are able to survive until the bullish era or not.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

Still, it's not yet "free money" until you've sold off. Profit seen on screen isn't profit taken. I've seen several instances where tokens rise in price only for them to slump and in some cases, become worthless in price value.

Quote

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?

Well, I think taking profit is something that's subject to individual disposition and. For instance, I like to take profit by piece meal on the average of 25% on my investment or I do something like 95% if I think that token is going to scam or abandoned. I do not sell just for the fashion of it.

Getmon

sr. member

Activity: 1400

Merit: 273

It depends on the coins you have in your possession. If you own Bitcoin and Ethereum, you should not anticipate a minor crypto pump as what happened in recent months to double them. You were fortunate to double your investments; I have gained recently but have not nearly doubled my capital. You are earning more and doing well during your lengthy wait, so I have no right to claim that my strategy is superior. I am just being cautious in the market because I think we are a long way off from the next big market pump, like in 2021 and 2017.

JamesDaniel90

member

Activity: 854

Merit: 30

Quote from: Kasabus on February 24, 2023, 06:08:39 AM

Quote from: AakZaki on February 21, 2023, 12:02:02 PM

Make sure bitcoin is your main investment and only for the long term, don't suggest selling too fast. now is a good time to keep buying bitcoin before it reaches a new ATH. But if the altcoin you hold, after seeing it becomes 2x selling it will be better. Altcoins don't last as long when bitcoin is on the move, taking profits faster on altcoins when the hype is better. Diversify your portfolio, using bitcoin as the main investment and altcoins as a short-term investment option.

If you want to see maximum profits when bull run strikes, then stick with bitcoin. Or maximize bitcoin accumulation through DCA, and maybe purchase some Ethereum to diversify your investment. Some other top altcoins can also be profitable but you can never guarantee that they will continue to increase their value even if you will hold them for long term. So once you see them in profits, you can start selling them at their peak price and then focus on bitcoin accumulation and consider them as long term investments. You will be highly profitable if you know how to deal with bitcoin volatility and keep them as long as you want.

Bitcoin is safe profits not maximum profits.

Bitcoin will maybe 6x next bull run at best? some altcoins I have been following in the last month have done 6x in a week.

I am investing in Bitcoin but I am also in low cap altcoins and putting all the profit I make from them into Bitcoin. Yes some altcoins will go to zero but a lot will see good pumps in the coming months.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: AakZaki on February 21, 2023, 12:02:02 PM

Make sure bitcoin is your main investment and only for the long term, don't suggest selling too fast. now is a good time to keep buying bitcoin before it reaches a new ATH. But if the altcoin you hold, after seeing it becomes 2x selling it will be better. Altcoins don't last as long when bitcoin is on the move, taking profits faster on altcoins when the hype is better. Diversify your portfolio, using bitcoin as the main investment and altcoins as a short-term investment option.

If you want to see maximum profits when bull run strikes, then stick with bitcoin. Or maximize bitcoin accumulation through DCA, and maybe purchase some Ethereum to diversify your investment. Some other top altcoins can also be profitable but you can never guarantee that they will continue to increase their value even if you will hold them for long term. So once you see them in profits, you can start selling them at their peak price and then focus on bitcoin accumulation and consider them as long term investments. You will be highly profitable if you know how to deal with bitcoin volatility and keep them as long as you want.

summonerrk

hero member

Activity: 1470

Merit: 790

ARTS & Crypto

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

In no case do not start investing more in your deposit. 14 months is still a very short time for a trader. I am sure that you are a smart person, but even the smartest need about 2.5 years to start showing stable financial profits from the cryptocurrency markets. Yes, it may seem to you that you have already made all the mistakes, and you have experience. But be patient for another year and only then invest additional funds. So far, you are still learning.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

...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? ..

If the price of the coin has increased by 2 times, then it would be reasonable to withdraw the initial amount that you invested. In this case, regardless of the further movement of the coin, you will retain your initial investment amount, which you can re-invest in another coin that is being adjusted.

kamvreto

legendary

Activity: 1946

Merit: 1157

MAaaN...!! CUT THAT STUPID SHIT

Quote from: GigaBit on February 22, 2023, 09:29:56 AM

Quote from: bounceback on February 22, 2023, 12:32:18 AM

Quote from: pawanjain on February 20, 2023, 10:32:15 AM

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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 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.

If investing with altcoins, it might be better if you immediately take profit when the price of the altcoin experiences a price spike that exceeds the price at the time of purchase, it is not recommended to hold altcoins for a long time, especially if the coin is not popular in the market because altcoins are usually the ones that less attractive will not have a better value in the future and the price is also easily manipulated so my advice to take advantage of it when the price is rising is the right thing to do but it is different with bitcoin because so far it has proven to be able to provide more profit by holding it.

Except Bitcoin and Ethereum, investing in altcoins should take profits regularly. In the last bearish market i got good returns in some altcoins but I didn't take profit and therefore i faced big losses in all those coins. Some of altcoins are dead. So learning from that mistake, now i try to hold Bitcoin and Ethereum for long-term. The rest of the altcoins will be sold regularly as soon as i get profit. The crypto market is having a good time right now so I'm not worried about my altcoins. I will try to withdraw my return in due course. But what an investor should do that depends on himself.

It will be a mistake you will never forget. Had a lot of profit from altcoins but didn't take those profits, so the market was bearish and all was lost. If you have to hold on and believe in the altcoin, then you have to hold it until a return will occur without having to cut losses which of course will cut your losses and lose some of your money. some altcoins that are dead and abandoned are of course hopeless, you only need to focus on altcoins that are still being built by developers and of course you hold bitcoin and ethereum as the main coins.
The profit taking strategy is actually very simple, get it and then sell it, but in practice it won't be as easy as saying words.

GigaBit

hero member

Activity: 1666

Merit: 513

Leading Crypto Sports Betting & Casino Platform

Quote from: bounceback on February 22, 2023, 12:32:18 AM

Quote from: pawanjain on February 20, 2023, 10:32:15 AM

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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 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.

If investing with altcoins, it might be better if you immediately take profit when the price of the altcoin experiences a price spike that exceeds the price at the time of purchase, it is not recommended to hold altcoins for a long time, especially if the coin is not popular in the market because altcoins are usually the ones that less attractive will not have a better value in the future and the price is also easily manipulated so my advice to take advantage of it when the price is rising is the right thing to do but it is different with bitcoin because so far it has proven to be able to provide more profit by holding it.

Except Bitcoin and Ethereum, investing in altcoins should take profits regularly. In the last bearish market i got good returns in some altcoins but I didn't take profit and therefore i faced big losses in all those coins. Some of altcoins are dead. So learning from that mistake, now i try to hold Bitcoin and Ethereum for long-term. The rest of the altcoins will be sold regularly as soon as i get profit. The crypto market is having a good time right now so I'm not worried about my altcoins. I will try to withdraw my return in due course. But what an investor should do that depends on himself.

Nheer

hero member

Activity: 658

Merit: 545

Quote from: mk4 on February 20, 2023, 10:02:47 AM

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.

I have lost interest in altcoins as well because u can see a coin pump and when you wake up its going down and that might probably be the end of it. Though i am planning to hold some few altcoin as well when bull run is around the corner like eth, bnb, sol and some few. I will keep holding my bitcoin no matter the market situation.

Zilon

sr. member

Activity: 966

Merit: 421

Bitcoindata.science

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

A very clever decision for Altcoin investment. We can never trust those shitcoin in which majority are pump and dump. It better to take profit at 2x pump because not withstanding Bitcoin is pumping many projects will still dump in the process even before the bear market sets in. So consistent profit taking in altcoin investment is the surest way to stay in profit else the breeze of ill-luck can just strike and everything goes down to zero

Obari

sr. member

Activity: 602

Merit: 442

I buy all valid country Gift cards swiftly.

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

Everyone has their own strategy and what might work for me, might not do same for you and what really matters is that we stay profitable at the end of the day which you did so I wouldn't say you did anything wrong to have taken your actual capital invested.

What truly matters is how much knowledge you've gotten about crypto for the period of time you stayed and not how long you've stayed.
So I will advice that you get the necessary knowledge about crypto before diving into it to make profit and there are several ways you can make money in crypto which includes
~ trading
~ farming
~ Mining
~ staking and some other ways and which ever way you choose, always price risk management.

ajiz138

hero member

Activity: 1498

Merit: 785

If the altcoin is invested but already has a profit of 2x or more than that then I will take the capital while the profit will be processed again on another altcoin with a short-term duration to take the same profit faster even though it only gets 2x as long as I trade altcoins.

But unlike bitcoin it has to be long term for me because the prospects will be different from altcoins so I believe in investing in bitcoin as a long term or even myself after getting profits from altcoins then moving to bitcoin then it will be much better.

While there are opportunities in altcoins, make good use of them, the most important thing is don't be greedy because that will get you stuck in a downturn.

bounceback

sr. member

Activity: 2086

Merit: 283

Vave.com - Crypto Casino

Quote from: pawanjain on February 20, 2023, 10:32:15 AM

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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 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.

If investing with altcoins, it might be better if you immediately take profit when the price of the altcoin experiences a price spike that exceeds the price at the time of purchase, it is not recommended to hold altcoins for a long time, especially if the coin is not popular in the market because altcoins are usually the ones that less attractive will not have a better value in the future and the price is also easily manipulated so my advice to take advantage of it when the price is rising is the right thing to do but it is different with bitcoin because so far it has proven to be able to provide more profit by holding it.

AakZaki

legendary

Activity: 2338

Merit: 1084

zknodes.org

Make sure bitcoin is your main investment and only for the long term, don't suggest selling too fast. now is a good time to keep buying bitcoin before it reaches a new ATH. But if the altcoin you hold, after seeing it becomes 2x selling it will be better. Altcoins don't last as long when bitcoin is on the move, taking profits faster on altcoins when the hype is better. Diversify your portfolio, using bitcoin as the main investment and altcoins as a short-term investment option.

kamvreto

legendary

Activity: 1946

Merit: 1157

MAaaN...!! CUT THAT STUPID SHIT

Quote from: Don Pedro Dinero on February 21, 2023, 12:39:40 AM

My strategy is similar to the one outlined in the thread. Mainly accumulate, especially when the price is low as it is now, although I do not resist from time to time to make some transactions, but spend more in the next bull market, although for the next bull market I hope to continue accumulating despite increasing the level of spending. I still don't think I have reached an amount of bitcoin that will allow me to stop worrying without accumulating more.

You could say the stacking strategy as you mean is the DCA strategy that is usually applied to those who want to hold for the long term. Continue to make purchases so that later you will meet the buying average, and sell at the upper price target, that will give you a bigger profit. But the capital needed is also more, because every time the price drops you will continue to buy it. if you have not reached the number of bitcoins that you specified, then continue to buy would be better. this will be good for the long term.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

My strategy is similar to the one outlined in the thread. Mainly accumulate, especially when the price is low as it is now, although I do not resist from time to time to make some transactions, but spend more in the next bull market, although for the next bull market I hope to continue accumulating despite increasing the level of spending. I still don't think I have reached an amount of bitcoin that will allow me to stop worrying without accumulating more.

Charmekkd

jr. member

Activity: 103

Merit: 6

in my opinion, if our investment already makes a profit, it's better to just take it, especially if the investment is in altcoins, because altcoins usually have a high risk.
so we have to remember that investment is looking for profit so if there is already a profit it is better to just take it and enjoy it.
and it's usually greed that makes us broken.

omgitsmehehe

full member

Activity: 580

Merit: 108

Quote from: hatshepsut93 on February 20, 2023, 06:51:38 PM

My strategy is to sell when there's a huge bull market that comes after the halvening, and I do it when it's clear that the market is very hot but starts running out of momentum. So selling now would be bad, because this is a small bull market that can go unpredictably.

And I never sell all my coins, I only take out enough to diversify my portfolio or achieve some goals. The rest are there for the long run. I also plan to reinvest some of my future Bitcoin gains back into Bitcoin when it will crash after the big bull run.

The bull season is always good times for traders and investors to triggered the sell actions on trades, not talking about small bull traps, rather when every projects in the market starts becoming green long candles. Buying during the bear and selling when the bull comes is a good trading strategy that have work for me in years, but required enough time before your target will be reached, more of patience is exercised. Bitcoin is the main target for the bull season, many traders and investors have pieces of bitcoin which they're timing it on the bull season.

BlackBoss_

sr. member

Activity: 602

Merit: 387

Rollbit is for you. Take $RLB token!

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

If you need money for spending things in life, you can take profit with part of your Bitcoin and use it. If you don't need money, don't take profit, Bitcoin is still in a bear market and you will have higher price to take profit in 2024. If you can wait, wait one more year and take profit.

Quote

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?

With altcoins, it depends on what are altcoins you own now.

If you own Ethereum and BNB, you can treat them like Bitcoin.
If you own other altcoins (not ETH and BNB), treat them differently and if you already saw like 2x profit, take profit immediately and don't touch them in next 5 to 6 months. Those shit coins will be dumped soon.

Jatiluhung

sr. member

Activity: 910

Merit: 430

Get $2100 deposit bonuses & 60 FS

because it's in altcoins so I think even 2x is decent enough to take profits. considering the risks that await are indeed greater. but back to the fundamentals and potential that you have seen in the altcoin project.

But personally, if it's an altcoin, I will take my capital first. and leave the rest if the altcoin project still looks to have higher upside potential. and then sell everything when the hype dies down.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

My strategy is to sell when there's a huge bull market that comes after the halvening, and I do it when it's clear that the market is very hot but starts running out of momentum. So selling now would be bad, because this is a small bull market that can go unpredictably.

And I never sell all my coins, I only take out enough to diversify my portfolio or achieve some goals. The rest are there for the long run. I also plan to reinvest some of my future Bitcoin gains back into Bitcoin when it will crash after the big bull run.

Fara Chan

hero member

Activity: 1302

Merit: 516

Bitcoin Casino Est. 2013

Not all Altcoins are the same, and it really depends on the Altcoin of choice, the problem when using Altcoins to get profits in the short term really depends on someone's choice, there are Altcoins that have good quality to get results, and vice versa, there are many projects in the market, thus determining the choice of someone who wants to make short-term investments.

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

It depends on your main target in investing, do you want to get results of 2x or more, but what we know is that most who invest in Altcoins they take from every profit they get not only based on how many multiples are produced, but there are also those who are waiting for the price to 3x to 5x to take advantage of the return on their investment assets. Apart from all this, it also really depends on the chosen Altcoin, some of them determine the target, and some determine the multiple, depending on the person and their goals.

pixie85

hero member

Activity: 2184

Merit: 531

I can tell you what my strategy used to be.

Once I realized most altcoins were going to only cost me money, I turned to bitcoin. I bought some and caught the 2017 rally. It went so fast that I didn't even think about withdrawing at 2x, I let it roll. At 10x I withdrew my first investment and let the rest grow. At 12x I withdrew 10% and another 10% at 15x. I held the rest of my bitcoin all the way down from 20 to 3000 and I still have it.

I later spent some of that sold 20% to buy ETH when it crashed to $300. I also bought ADA in 2019. In 2022 I didn't touch my bitcoin at all, I sold only some of the coins saved up from signature campaigns and half om my ETH. That gave me enough money to be set for years without being forced to sell my bitcoin investment.

I plan to maybe sell some bitcoin when it breaks 100 thousand dollars and another part at 200 thousand. I have enough money and enough time now to be slow and steady with my bitcoin.

Frankolala

hero member

Activity: 896

Merit: 586

Leading Crypto Sports Betting & Casino Platform

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

My profit making strategy is that,I sell when the price hits the bull market or at my target price as long as it is more than what I bought, if it is important for me to sell.

The best time to sell is when bitcoin price hits ATH,but for you to achieve this,you have to be patient and hold for long without panic. Some of those altcoins are not to be trusted but there are still good altcoins, ethereum is doing good in the market.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Fully Regulated Crypto Casino

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.

JoyMarsha

sr. member

Activity: 924

Merit: 365

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.

JamesBorn

member

Activity: 84

Merit: 18

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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?

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

freedomgo

legendary

Activity: 3248

Merit: 1160

Playbet.io - Crypto Casino and Sportsbook

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

Woodie

hero member

Activity: 1834

Merit: 879

Rollbit.com ⚔️Crypto Futures

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.

Rikafip

legendary

Activity: 1722

Merit: 5937

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.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

~snip~
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.

Pandu Geddon

hero member

Activity: 826

Merit: 583

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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 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.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: JamesDaniel90 on February 20, 2023, 09:52:52 AM

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.

JamesDaniel90

member

Activity: 854

Merit: 30

Quote from: Crypt0Gore on February 20, 2023, 10:07:36 AM

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.

Crypt0Gore

sr. member

Activity: 952

Merit: 275

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.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

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.

JamesDaniel90

member

Activity: 854

Merit: 30

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?

Topic: What is your profit taking strategy? (Read 355 times)