What to do when the value of your coins starts going up dramtically?

shirazteam110

member

Activity: 70

Merit: 10

Quote from: jason02 on August 10, 2017, 01:03:55 PM

I have OmiseGo, Neo, IOTA and Stratis which all been rocketing lately....The problem is, I have no idea what to do now. It's cool to watch the values rise(I wish I would've bought a lot more of them!) but I am conflicted on whether or not to continue to invest along the way to the moon or just wait for the dip?

I tried this approach with Ethereum and there never was a dip(at the time it was $40 and I watched it rise to $170 and now $200 is the new floor)! I could've had at least 5 or 6 more ether than I have now if I didn't wait for the dip that never came.

What are those in the same boat doing? Now way I am selling anything either, I would rather do nothing at all than sell.

if my coins go to moon dramatically then of-course will be happy Cheesy

allthebitandbobs

sr. member

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selling sell enough to make a profit then if it goes to shit at least u made money .If it go higher u still ave coins so it is a win win

~V~

newbie

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It is good to see the value of your cryptos going up, but be aware that as the price goes up, so does the number of people taking profit, and if you take a long time to sell, the profit can be much lower. At worst you can even go out with a loss.
The right thing to do is to define in advance what your upper limit is, where you are going to take your profits. If you do this in advance you will be less likely to act emotionally when your crypto is reaching high values.

AnimoEsto

full member

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I always sell on the way up in percentages. You can never know where the top or floor is.

nethan1btc

sr. member

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Quote from: emberbekas on August 10, 2017, 01:55:19 PM

Quote from: renes on August 10, 2017, 01:32:57 PM

I think I sell some of it and buy another coin that didn't go up dramatically thus I would take some profit and invest in a undervalued coin.

For me, if I had a coin which the price goes up drastically, I will sell a half of it and wait for the price to move down to start to buy it again at lower price. And if the price continue to move up then I'll do nothing except waiting for the right time to sell the other part of my coin.

That's a case to case basis looking to the actual outcome in the future, and no one really can predict when it really starts to go up. All we need to do is monitor the most recent days that your coin in the marketplace will entirely gain it's higher capability to acquire huge buying demand in the market exchange. It could take us to a situation that we should wait for the long time just to wait for the right time to sell your token and when it come you could take your profit, enjoying the opportunity you have in one glance.

tyz

legendary

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You should also consider the tax situation of crypto currencies in your country. In some countries it is required to hold some time to get the gains tax-free. In others you need to pay tax so or so. Depending on the tax situation I would sell a part and let the rest invested in the coin.

Haladay

sr. member

Activity: 476

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Two different cases we have.

If you have an exit plan to turn your coins into fiat money, you can cash them out without waiting anymore.

But, if you don't have an exit plan and you are a long term investor, you can keep holding them no matter if they go down or up.

Kazkar

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Quote from: NorrisK on August 10, 2017, 02:40:42 PM

Slowly sell of parts of your holdings.

Every time it makes a big jump, you can sell a say 1-5% of your holdings to lock in some profit.

That way, you have some money available for reinvesting as well and if a dip comes you can get in bigger.

Good advice. I'm using this strategy now. But I made a lot of mistakes before.

NorrisK

legendary

Activity: 1946

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Slowly sell of parts of your holdings.

Every time it makes a big jump, you can sell a say 1-5% of your holdings to lock in some profit.

That way, you have some money available for reinvesting as well and if a dip comes you can get in bigger.

leonair

sr. member

Activity: 1400

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Here is the thing for me if you really want to get a passive income or make a profit out of your invested coins then try studying the in and outs of the market of your coins because nothing beats the knowledge and your instincts but if you really don't need money and headaches then leave it there for a year or two then open it after that to feel the wonderful feeling of growing seeds.(This was happen to me in just 1 year)

emberbekas

legendary

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Quote from: renes on August 10, 2017, 01:32:57 PM

I think I sell some of it and buy another coin that didn't go up dramatically thus I would take some profit and invest in a undervalued coin.

For me, if I had a coin which the price goes up drastically, I will sell a half of it and wait for the price to move down to start to buy it again at lower price. And if the price continue to move up then I'll do nothing except waiting for the right time to sell the other part of my coin.

Evlve

newbie

Activity: 48

Merit: 0

It really depends. You have three simplified scenarios

1) the coin starts going up and you buy as it goes up and it keeps going up
2) the coin starts going up and you buy as it goes up and levels out
3 "" it goes down soon after you buy

Obviously #1 the question becomes how long do you wait before selling. This should be based off what you know about the coin and why the coin is rising.

#2 the question is do you hold hoping for another rise or sell. There's opportunity costs in holding while others go up and potentially same costs in getting out too quick.

#3 depends on if you believe in the coin or were just trying to catch a train.

A simple solution would be to use stop losses soon after you buy to ensure that you only get #1 & #2.

It gets complicated with what if scenarios from there but maybe that helps

zPools

member

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No one knows how a currency grows or will fall.

Maybe selling and reinvest in other.
Maybe holding it is the key.

You could split - hold the half and sell the other

renes

sr. member

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I think I sell some of it and buy another coin that didn't go up dramatically thus I would take some profit and invest in a undervalued coin.

cellard

legendary

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Quote from: jason02 on August 10, 2017, 01:03:55 PM

I have OmiseGo, Neo, IOTA and Stratis which all been rocketing lately....The problem is, I have no idea what to do now. It's cool to watch the values rise(I wish I would've bought a lot more of them!) but I am conflicted on whether or not to continue to invest along the way to the moon or just wait for the dip?

I tried this approach with Ethereum and there never was a dip(at the time it was $40 and I watched it rise to $170 and now $200 is the new floor)! I could've had at least 5 or 6 more ether than I have now if I didn't wait for the dip that never came.

What are those in the same boat doing? Now way I am selling anything either, I would rather do nothing at all than sell.

It depends what you are holding, at what price you entered the market and for how much. If you are holding a shitcoin and it goes parabolic, the most reasonable thing to do is to dump them, you don't want to gamble with your BTC.

If the coin is a decent project and has potential like Strat, and you got in early enough to not be exposed to a loss, then just hold it for a longer term.

I have no idea what OmiseGo or Neo are, and I heard some critics about IOTA being vaporware so not sure about these.

cryptkeeper1979

full member

Activity: 198

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Quote from: jason02 on August 10, 2017, 01:03:55 PM

I have OmiseGo, Neo, IOTA and Stratis which all been rocketing lately....The problem is, I have no idea what to do now. It's cool to watch the values rise(I wish I would've bought a lot more of them!) but I am conflicted on whether or not to continue to invest along the way to the moon or just wait for the dip?

I tried this approach with Ethereum and there never was a dip(at the time it was $40 and I watched it rise to $170 and now $200 is the new floor)! I could've had at least 5 or 6 more ether than I have now if I didn't wait for the dip that never came.

What are those in the same boat doing? Now way I am selling anything either, I would rather do nothing at all than sell.

If anything, sell 25% and hold the remaining 75% so no matter what happens you gained some value back into BTC, but only sell 25-50% if you're way up. It sounds like your in the position where you want to continue to hold, but don't want to buy anymore at the current price. If that's the case, don't buy anymore and just hold, maybe buy on a big dip, but sounds like you bought in at a good time, so hold and stay strong. If your up over 1000% though, smart to sell a small portion back into BTC.

TwSeventh

full member

Activity: 566

Merit: 113

usually altcoin price will be pumped around early every new year and,
middle Q3 ever of the year,
in my opinion,don't try to follow top 3 cryptocurrency if we don't have a good financial back up,
because top 3 cryptos are hard to determine when the price is up and the price is down

TIDOVEE

sr. member

Activity: 1246

Merit: 255

when the value of your coin begin to rise dramatically, I will suggest you re-invest in other trades to be at a safer side.

jason02

newbie

Activity: 4

Merit: 0

I have OmiseGo, Neo, IOTA and Stratis which all been rocketing lately....The problem is, I have no idea what to do now. It's cool to watch the values rise(I wish I would've bought a lot more of them!) but I am conflicted on whether or not to continue to invest along the way to the moon or just wait for the dip?

I tried this approach with Ethereum and there never was a dip(at the time it was $40 and I watched it rise to $170 and now $200 is the new floor)! I could've had at least 5 or 6 more ether than I have now if I didn't wait for the dip that never came.

What are those in the same boat doing? Now way I am selling anything either, I would rather do nothing at all than sell.

Topic: What to do when the value of your coins starts going up dramtically? (Read 761 times)