When do you know its time to sell your altcoins? - page 76.

Cnut237

legendary

Activity: 1904

Merit: 1277

Quote from: COLT601 on December 06, 2017, 03:44:11 AM

Just wondering if ya'll have a typical formula you go by or a certain X percentage profit or loss.

I've been playing around with coins for just under a month now. $23750 total investment and currently up just under 10k in profit. One of the coins (IOTA) has gone up about 288%. Obviously it would suck if it crashed but it would equally suck to sell if it continues to grow.

Just wondering what a lot of you folks do. I'm considering investing another 25 or 50k into coins. Ideally I'd like to net 15k a month off them but I know that may not be realistic on a monthly basis.

I think it's very difficult to predict, and every situation is different. One good option is to set your exit point as soon as you go in, and then stick to it. But the whole thing is difficult. IOTA has been skyrocketing for quite a while now, but I haven't bought in - I keep thinking it will correct. One problem is that there is a lot of panic buying and panic selling that causes these huge price fluctuations. If you knew that a correction would be gradual, it would be easy to sell just after the peak... but corrections are often cliff-edge plummeting.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

the "formula" that i usually use is mostly looking for at least 20-30% profit whenever i invest in an altcoin. but that is not set in stone and it changes quite a bit.
for coins that are hot and are getting pumped pretty hard, i aim for a higher percentage and for those that are not so hot and have little potential of pump i aim much lower. it is of course depending on the market and the situation too. sometimes coins can get pumped real hard but other times they may have harder time even having a small rise.

askmecrypto

full member

Activity: 406

Merit: 109

There is no specific point of buying or selling alts.
What I do > After doing much research once I decide an Alt and if I trust it, I will keep buying a portion in 10 -20 -10 -20-40 on every dip.
I always book profits in the similar pattern.
This makes sure that you are out of your investment and the final sell out will give you profits.

This does not apply for my long term goals which I lock for years.

Huskarls

member

Activity: 364

Merit: 10

Quote from: sabrikks on December 06, 2017, 05:05:52 AM

don't be too greedy that's the first rule.
if i where you i'll sell some of them to take the profit and keep the rest to profit if the coin continue to rise

Yes, this rule is very vital.

If you dont want back into the abyss, never be greedy
For me the best time to buy is waiting for btc price getting higher, in that moment we know most of alts go in to the dip (best time to buy)
After that, you can wait for 2-3 days or just wait for btc price stable, that was best time to sell

dirgayeah

full member

Activity: 868

Merit: 103

*Indonesian Professional Translator and BM*

For me you must sell it if your coin reach 300 % profit. And you must to know when the pump condtion. Don't do a panic sell.

bergenic

newbie

Activity: 42

Merit: 0

No matter how you analyse it, all coins surprise all investors all the time Grin

If you sell today and it goes up 50% tomorrow - that happens to everyone. To me there're basically three ways to do this:

1) Never sell. You just hodl it like people buy stocks for their retirement fund.
2) You set a target when you buy the coin and stick to it. Once the target is reached you sell your coins and then sleep over it one night and make a new plan.
3) Cash out some of the profits like using a cheese slicer. Sell 5% or 10% and leave the rest for one week. If it goes up again sell 5% or 10% and leave it again.

I'm doing the option [3] myself. I own some IOTA bought back a month ago so I sold 10% of it yesterday and bought new coin I didn't have. If it goes up to like 7-8 I probably sell 5-10% again and invest them into a new coin. This way you get to save or re-invest some of the profits, so if it crashes to hell in one week you didn't lose all. But on the other hand if IOTA is 100$ next year you'll end up making a lot of money anyway.

~Bitcoin~

legendary

Activity: 994

Merit: 1000

Don't limit your monthly profit, try to make early exit during pumps and don't keep waiting to buy cheaper coins, buy them during correction.

If you will buy any coins at current pumped price you might loss heavy amount so its better to wait for some dip. Every coins are pumping right now so this is not a good point to make an entry.

sabrikks

member

Activity: 174

Merit: 10

don't be too greedy that's the first rule.
if i where you i'll sell some of them to take the profit and keep the rest to profit if the coin continue to rise

marseille

hero member

Activity: 938

Merit: 500

I sell it as soon as I see that I have made 20 to 25% of profits on my investment instead of holding it too long as holding altcoins longer can be really risky and it can take away my profits if price dumps later on.

cryptopussies

member

Activity: 196

Merit: 10

HEXCASH - Decentralized Fun

I knew when to go out in a trade if the technical indicators tell me that there will be a reversal of trend to secure my profits.

uobaaagrf

member

Activity: 97

Merit: 10

Indeed it is.
Most people, including me, can not get the best time to sell altcoin. Many people are also regretting why after the sale of an altcoin, the price of the altcoin has been rising, regret.
This is a world class problem.
The recent IOTA, up 25,000 times.

bcnaranjo

full member

Activity: 154

Merit: 100

When I buy it at a low price and it raises to 500%, I think I will sell it.

13abyknight

sr. member

Activity: 602

Merit: 252

This is a common situation where every crypto trader gets stuck at, at least once. Being new to trading, you've made a considerably decent amount of profit and you should probably sell your alts when they are still at their peeks. Set upper limits for tokens and when they hit them, sell as soon as you can knowing that it won't go up any further.
Of course it would be hard to digest if a token went up after you sold it but you should still be happy that you ended up with profit when there were possibilities of crashes too.

urosan

jr. member

Activity: 46

Merit: 2

Rule that i stick with is:

Set a goal.

for instance:
i'll sell at 10%+, 20%+, 100$+ etc..
and
i'll also sell at -10%,-20%,-100$ etc..

don't hold on if it goes down. Just sell and move forward. In this game there is no place for emotions. Make a rules/goals and stick with them.

Well, at least this is how i do.

tarpa07

member

Activity: 194

Merit: 10

It is very easy to know when i'm sell my altcoin . if i'm buy $2 par coin and when it is reach $3 i'm sell on that time.

tosmartak

sr. member

Activity: 630

Merit: 250

First rule of the game, don’t be too greedy. Second rule of the game, don't be too much in a haste to sell if you know what you are doing. If a crash is imminent, and you can read the charts, then you do not have to sell now and watch closely for that moment in case the bull run continues, otherwise, you have made some good profit now, so you are still good even if you sell and it keeps running still. If you trust the project, and you want to hold for the long run anyway, why bother? If your plan was not to hold for long, and you do not have any selling strategy, you can sell now. It is going to be a long run for IOTA, but no one knows how long it would keep running before a correction happens.

COLT601

newbie

Activity: 81

Merit: 0

Just wondering if ya'll have a typical formula you go by or a certain X percentage profit or loss.

I've been playing around with coins for just under a month now. $23750 total investment and currently up just under 10k in profit. One of the coins (IOTA) has gone up about 288%. Obviously it would suck if it crashed but it would equally suck to sell if it continues to grow.

Just wondering what a lot of you folks do. I'm considering investing another 25 or 50k into coins. Ideally I'd like to net 15k a month off them but I know that may not be realistic on a monthly basis.

Topic: When do you know its time to sell your altcoins? - page 76. (Read 8171 times)