Topic: When do you take out your investment when in profit? - page 6. (Read 871 times)

When I started investing in cryptocurrency and also when I started trading, I usually got confused about the actual price I should sell and also the price I should buy, but there was a sad experience I had in the past, as did a few of my friends who are into cryptocurrency.

There was one coin I bought in the past. After I bought the coin, it pumped, and I was making a very significant profit, but I was greedy and did not sell when I was supposed to, and the price of the coin dropped very sharply. I felt bad and sold for a lesser profit.

After that experience, I learned not to wait for a coin to start pumping before deciding on the price to sell. Now, for example, if I buy a coin at $0.5, I will also set and agree on the target price I want to sell and the profit I am expecting from that investment. If the coin pumps and gets to my target price, I don't hesitate to sell off and take advantage of the profit. With this strategy, I don't find it difficult to make a profit at the right time again.

Sometimes too, I may buy a coin for $0.5 and sell it for $0.8, but immediately I sell it off. You will see the coin pump to $1+, but I don't feel bad because I have at least made the profit I expected.

My advice for you is to always have the price target you want to sell a coin at so that you don't get greedy when the price begins to pump.

It depends on the utility of the new altcoin, if I saw the opportunity, I never sell it even though it reached 5x profit because I know it will not crash if that altcoin has a potential when it comes long long-term holding.  But if I found out that the price of those altcoins was made by the pump and dump group that creates hype and there's no clear utility, that's the sign that you need to sell them once there's a profit.

I have been in years in this forum and in the crypto space, and I know altcoins that after being listed on the exchange will eventually die and won't survive especially those meme coins.

So far I have to say that not all altcoins are bullshit without any purpose - but I agree that most altcoins have no real use case. It might be nice to get 2x or 4x in returns from an altcoin rather than waiting any longer with any form of greed - but it all depends on the potential of what is possible.

If it were me - 2x to 4x of altcoin returns would be too much. Sell it all and accumulate it into bitcoin - that's a much more make sense to do instead of letting all the returns be in the same altcoin. Of course - it's me, they can have a different approach.

There are moments that we do ignore those 2x,3x or 4x gain because we're having a thought that it can go that much. The reason for that is they see other people flaunting their profits and they think that they should also do the same and reach those 100x+ of gains.
It's a different case per investor and there's no need to get onto the shoes of those people flexing their profits and just look up to your own investing journey because many of these tokens/coins are truly pump and dump and you might even get left behind if you don't do necessary actions.

For alts, much better to sell it while you are still in profit. Don't wait too long because they can easily decline.
Check the progress of the project, and if there's nothing in it. Better sell it fast because the team behind it is just pocketing their money.
I can understand if you are holding btc, but for other alts, better assess your profitability on this fast.

Yeah, I agree with you on the price tag to take profits,  that is the most effective means of taking charge of your investment and not wasting time on something that may not possibly come to reality in the long run,  some time we have seen a coin that did so well at the early stage,  and because of the promises of the team,  some investors will fail to take profits because the waiting and expecting the price to go over the roof before the sell and along the line,  the coin get dump on them and the end up losing all their money along the line.

I based altcoin on a short-term based investment category and I don't mind selling off my holdings if I already make some amount in profits,  because I have learned a lot from my experience when I lost a lot of money trying to wait for a coin to do 10x and it eventually dumps on my face without possible recovery.

If you're Investing on bitcoin, the longer you keep your investment or hold them the better it becomes and you get more profitable in them, but if you're Investing on altcoins, then try as much as possible to ensure that you don't take much time on holding them because of the fear of the uncertainty demands, so when you're Investing on the right coin, you can hodl the more and the more your profits becomes alongside.

related to when it is time for me to take profit and my investment in altcoins will depend on what coins I hold at that time.

 1. If it is a top altcoin that has a cycle that is good enough to increase many times because it has high trading volume, fundamentals and market cap, then I would prefer to hold at least until we meet the bullish era later. and of course I will not treat all coins like this, only certain coins.

2. However, if it were me who had just appeared or you could say hyper coin and fomo projects then I would prefer to take profit as soon as possible when the price is rising. because usually if they have gone up then the case is for them to maintain that price and instead the price will immediately fall. that's usually the cycle of coin hype. So it would be better to play it safe and not expect much from new coins like the coin you are talking about, namely Myra. this is the first time for me hearing it. but once again this will depend on each of us how much we are able to take the risks that we will face and manage.

However, one thing that is certain is to make sure that we really understand the situation of the altcoins that we have so that we can determine when is the right time to take profit.

One thing I advise on Alticoins is to set a price target for them should they meet the target I would say take off some profit and probably leave some there. If the amount even doubles or triples you can simply just withdraw your own capital and gamble on the rest. This tactics should be used mostly for Tokens most especially meme tokens, because they are mostly pump and dump tokens. If the price begin to significantly increase then be sure to know that some investors most especially those who earned it through airdrops will sell off which will result in price fall

Then that's good. If you want to take profits with those, you should because if I am on your shoes, I'd take my profit with those alts and won't be having a second thought. Most of these alts are very fluctuating and volatile and that's why you may see it grow more or you'd see a drop and might just give you a disappointment after wards.

Just do this and you'll have no worry whatever happens to what's left with your coins.

If you already have a 3x - 4x profit why not take it as an exit if you think it's enough but for those of you who are not satisfied maybe you can hold it up to 5x or even 10x but you need to know you don't regret it if the price drops and doesn't match expectations.

Altcoins are unpredictable, now many say the altcoin season will arrive soon but I myself am not entirely sure because the increase in altcoins that you hold is usually due to hype if it is in the Solana network then that network is booming you need to be aware of it but your decision is in your hands.

I won't even hesitate to cash out the capital if its already 2x? Waiting can give more return but it comes with high risk because we all know altcoins are highly volatile compared to bitcoin and since you are talking 5x then definitely it should be a low-cap coin that can bust overnight so cash out the capital and set a price, once you hit the goal then just sell them.

This is a little bit tough to answer because there’s no article or video that defines what being greedy is, and there shouldn’t be any trying to cap it at any amount. But what I can say is that you should just take your money out when you have made a decent profit. So, it is you who will decide what is a decent profit and not anyone else. Because what I may consider decent may be small and unworthy to you. And what you may consider decent maybe seen as greedy by another. Also, something else you can do is to take out your capital and let the money which is still invested be the profit, this way, you’re sure that your capital is out.

When I buy altcoins, I always think about the projection of them returning to the old historical high, so I think about taking profits in these price regions: ATH

But the strategy is individual, what works for me may not work for you. You have to set goals and targets and be faithful to what you have defined as a strategy.

Altcoin is never to be trusted because it can fail at anytime why because whatever percentage you may gain now can never be sustain for a long term since the market doesn't remaining stationary, so whenever you feels that you have gained enough profits then you can withdraw it out and save your principal amount or alternatively you can take profit by removing your capital then you leave your profits to remain in that coin/token.

For me, I don't even calculate the X thing. I rely on price action to decipher if there's an incoming price correction on a higher timeframe and then either take everything off the table or just take out my capital and leave a moon bag in anticipation of further mooning. At the moment, in this bull run, I check the current ATHs of the alts I'm hodling once they start rising. I'm of the opinion that the least any viable alt can do is level up on its current ATH. Otherwise, I'm hopeful they should surpass their current ATHs.

if you don't need the money yet, you can wait til the ATH of BTC after halving i think more of the altcoins will hit 10x. just a suggestion.

the altcoins i bought also pumped especially the memecoins but because i see no reason to withdraw yet and i have no plans yet on what to do with the money i'd just let it be hoping for it to go wildly up when BTC halving is over. the market will then be insanely bullish along with the ETF fomo.

You have asked a similar question in the bitcoin discussion board. I just took my time to revisit your question and it is so identical. Why repeating same question in different boards? This can be regarded as spamming.
Let me give you benefit of doubt that the question in the bitcoin discussion board was meant for your bitcoin investment while this is for altcoins investment.
If you invested in an altcoin and already in X10 profit, what again are you waiting for to sell. I am just so scared that I do not invest in altcoins, but if I have a legit information about any altcoin, I may change my mind and invest. X3 is a very huge profit I mean.
Although, altcoins investment is just like gambling, the reverse can also happen. That is the reason I have sticked with bitcoin.

As the price of Bitcoin rises, many altcoins are pumping. It's great that you've seen the face of profits in altcoin investing. It is your personal decision whether to keep the coins or not. Keep in mind that greed can often lead to losses. I think if you are happy with the profit you made then you can take profit. Don't let the desire for more cloud your decision.  It is also a good idea to consider taking your initial investment and letting the profits grow or reinvesting them during the next bull market. Ultimately, the key is to be smart and strategic about managing your profits. Always remember to prioritize profit taking.

I not very active into Altcoin at the moment though occasional investments are there. But when I was active in Altcoin I used to have a very calculated plan wherein i wouldn't take profit until a certain returns and if once that number is breached I used to actively involve myself by setting stop loss 5-7% lesser than the current value and 15% higher as take profit and on e the value of coin goes close to that 15% increase I would cancel the take profit and once again set up renewed stop loss at 5-7% and take profit at 15% higher and the cycle repeats to get the most out of bull run.