Bitcoin Forum

Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.
 
1. What coin are you taking your profit?
 2. If stable coin, When do you plan to shift to it?
 3. What is the strategy to pay tax?
 4. Will your Lambo come before the parabolic market if your acquire certain profit?
 5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?

1. BTC of course and some trading in ETH and other low cap coins.
2. I havent touched a stablecoin ever since when im here on cryptospace.
3. Strategy? So far my country isnt that strict into crypto gains but generally if your country is strict then you do know on what to do.
4. I didnt have much to reach that lambo profit unless if we do see 1000x but this one is not on BTC.  :D
5. We cant tell on how long bear market ends or into that cycle but you can at least do go with the flow and make profit on price movements.It sounds easy but it isnt
for everyone and it do need a lot of practice.

I usually take my profits by trading bitcoin. I don't take that much time of holding unknown altcoins because I know that I could be rekt when I'm off guard.

It's part of my experience and that's why I don't want to be caught again by those altcoins that look bullish but suddenly will turn bearish and everyone is dumping.

BTC and some Altcoins in the top 10-20 only.


I would rather hedge it to our local currency.


Not sure of that,  :)


Not a lambo but probably my money will be put to good use.


Hold and accumulate. Been in the 2017 cycle, learn my lessons, I was here when bitcoin was < $1k, I should have hold in and wait for the final run in December before selling it off. Lessons learned for me.

You can't put a period on a market cycle even if you see some kind of pattern emerging based on their historical charts since you may never really know the exact future movement of the market will be in the future. You won't even know when exactly Bitcoin would rise up again nor will it go down from here. That's why you can't look at it in a long term period view since it will be inaccurate, if you are a hodler I would advice you to just look at times where your crypto is near its bottom or has bottomed out and that is when you will add more in your portfolio.

The best strategy is to have a entry and exit point, so at least you will know when to get in and when to exit so that you won't get trap.


I'm sure majority of members here have bitcoin in their portfolio. Tax depends country per country law. I don't like stable coin to be honest. If the cycle continues then 2021 should be the year, so we will see and then make our plans.

Those questions is too hard to answer for now mate, because earning good profit on certain coin couldn't be achieved while market wasn't able to regain it's momentum. I can expect expensive things like that lambo or even luxurious gadgets while we're in the midst of pandemic year. Bear market really had affected me and the rest of my family, that's why I consider the coins I am holding as my potential profit once highest bounce will commence. Maybe I'll keep it discreet when choosing a coin that has potential profit.

I don't think trading only Bitcoin is a strategy but you have a point here. Holding such random altcoins is extremely risky.
But if you are a trader, you are more on fundamental, so it doesn't matter if random altcoins, you trade based on what you see on the chart or from your analysis. And for sure you have stop loss for every trade.

1. I have been doing mostly BTC and ETH futures trading, not spot trading for now, Lately I have been trading more with ETH because of it's volatilty as compared to BTC

2.  Mine is a day to day basis depending on how the market moves.

3. Honestly, the crypto tax part is still a grey area from my side. Most of my crypto assets are still in my private wallets thou. If anything comes up, I can comply so long as it's fair.

4. Certainly not sure about the Lambo, even a Toyota can do for me but if things work out so well then a lambo comes along the way ;D

5. I will continue my usual pratice of day trading with part of my crypto assets to survive through the cryptowinter

I don't have a fix rule about taking profits mostly based on the situation, if I feel enough profit and don't have more time to be online because need to do another stuff I will immediately take profit. I'm prefer trading BTC-Altcoin (1-100 CMC Rank) or high volume trade on that exchange.

The best way to make a profit is to invest in a small amount of money and keep the currency stable start trading in minutes with quick and easy registration method and low minimum deposit save fee low commission rate and all available resources benefit from strict spreads during trading also enjoy the trade's security features that will ensure your personal data and funds are always protected. The business can make long-term investments in order to make more profit.

1. I don't want to tell you about what coin because that will be my secret. But I will say that bitcoin, ethereum will be the biggest coins to take the profit.
2. I don't use a stable coin to trade, but I use a stable coin to save the value of my money. I will use the stable coin to buy bitcoin or other coins at a low price.
3. I report my income to the government, and I tell them from were my source income. They check my account, and they didn't find any suspicious transactions.
4. Lambo is too expensive for me, and I don't want that expensive thing in my life because the tax will be too expensive too.
5. I will never stop learning to trade because trading is one way to make money from the crypto.

I think I venture on staking coins. Personally I do trading from futures contract, even shitcoin and staking is my most favorite cause its really easy. I am staking mantra dao OM on bitmax with an 88% APY then its a cool profit indeed. I also love putting my busd on binance doing farming new tokens plus interest of busd. Not bad profit. Stable coin now can be profitable, you just need to review a platform where you can gain income from it.

Aside from that I had my long time holding of major coin which served for linger time valuation.

1. Any coin/token that can give me profit, I’ll take it.
2. Stable coin usually pumps in the long run, so if you do play long start looking for good project and know your selling poiny.
3. I don’t personally pay the taxes, the exchanges works for that one and we are not force to declare crypto profit in my place, so i have no strategy on this one.
4. I don’t get what you mean here but every time I make profit, I reinvest it so I can make more.
5. If there’s a cycle then you must buy on a cheaper price, but we can’t tell this since the cycle always change and the market volatile is still high so try to know what is good to hold for the next 5 years.

1. Even before, Bitcoin is my bet, and I use this for my trading.
2. I have no plan to shift into stable coins. It won't actually make us profitable but just keeping our funds of not losing its value.
3. We're glad in our country that we free are from taxes in regards to holding crypto. But it won't give me worries if that time will come, it is under the law and we have to follow it.
4. When Lambo? Well, I'd never think when to comes but surely it happens again. The market is still struggling to keep the rising momentum and see it hard to do it this year.
5. If that so, then we have nothing to do with it. We don't need to be disappointed instead of facing the challenge that we might encounter in the days coming.

1.Bitcoin Core and Bitcoin Core only.
2.I don't use stable coins and I never will.
3.A "strategy to pay tax"?What do you mean?There's no strategy for that.You just pay or you don't(and the authorities catch you). ;D
4.I will never make enough money to buy a Lambo and I don't like Lambos.I prefer Ferrari. ;D
5.Even if the market is bearish,there will still be price fluctuations and opportunities to buy low and sell high.

Everyone takes their profit to the safest Store of Value.


Don't trust centralized entities.


You can't be taxed by simply HODLing.


Lambo should not be your true aim.


Zoom out. Buy the dip, and HODL. 8)

Taking profit is not just easy, because of the fact that there's no easy way of earning profit in the internet.

But for me, here is what I am doing with regards to your question.
1. The only is bitcoin, nothing else matters because I don't trust altcoin even it is on top in CMC.

2. Stable coins is very useful in trading because this is the way you can cut your profit off quickly when there is a massive correction of bitcoin price on the market.

3. Paying tax if bitcoin is regulated in your place, most usually government has a neutral to this, paying tax as of now is not necessary.

4. Lambo!.. this is the most anticipated event that most bitcoin holders waiting for. But if you're asking a time frame will it will happen, the answer is not clear due to the price is unpredictable.

5. Cut your profit off when there it is. 

Lambo for any coin depends on bitcoin bull. I'm not expecting altcoin bull for now except bitcoin moves. I'm just on acquisition for now, buying coins that has good features is one best thing to do now.

For the short term I use scalping techniques to take profits little by little, but often.
The coins I chose for my scalping were coins with large volumes that were hype and many people were trading. That will make scalping easier.

for the long term I only choose coins that are on Coinmarketcap's top 10 list. Like BTC, ETH, TRX, BNB and others.

Not all crypto-coin will attach how it increase with the way Bitcoin would increase, I would be interested and I want to know which crypto-coin do you know or think will increase and that you have bought, this is excluding some altcoin at the top.
I don't buy altcoin, I don't trade yet will/may in future, Bitcoin it is, and if you excitement is waiting on bull to happen with Bitcoin and subsequently increase your other crypto-coin, this might not happen.

1. Scalping some coins if there's an opportunity, I'm mostly trading BTC and ETH
2.Nope, I prefer to just use our local currency.
3. We don't have tax to pay in using cryptocurrency in our country  ;D
4. I really don't know if I will get to that point in my life hahaha
5. Still acquire some bitcoin even it falls into disaster and hodl it!

The gold proverb suggests waiting: If you don't sell the trade can't be counted as a loss and the same is true for the win side. If the users doesn't take the winnings from the market, the profit is on paper only and the trading strategy wouldn't work here of course. Having a trailer stop is my best gun against such cases, the profit will be boosted unless market trend shifts against my original trading plan.

Well, there are too many ways in getting profit from your cryptocurrency coin holding. You can do trading and also have a lending service using your coin, --both are very risky but if you will succeed, you will completely earn with this strategy. Usually, I am holding for a long time and make a profit once there and the market will in a bullish trend, waiting in 4-5 years will perhaps have a good result. I don't want to risk too much my money and I avoid rekt, perhaps I am just only afraid and I don't like to gamble my crypto assets.

1. Usually coins that I don't believe in anymore. I buy and sell in long intervals so I take profit when a coin pumps and I don't feel like it's worth holding anymore.
2. I stay away from stablecoins especially usdt
3. I don't pay any tax on crypto. There's no such requirement in my country.
4. I'm not going to buy a lambo. Ever. Cars are a waste of money.
5. I don't believe in 4-5 year cycles. The cycles are getting longer every time.

It wont be considered to be final or being concluded if you haven't done any actions just like on the scenario that you had mentioned and this is where people do differ into things

were they cant still be sure on when would be the time they would make such step for them to finalize if they would be on the profit or on the losing side.

Trailing stop function is good but it depends on how a certain trader would use it specially if you are a day trader.

Holding profits isn't really just great as much as you can possibly earn with active trades but somehow its pro's will lie upon on the risk percentage which is much more lower compared
if you do actively trade.

It doesn't matter which path you would take as long it do shows some advantage to you then that would matter most.

Trading is not the prospect to anyone had afraid of high risk and holding is not also fitted to someone who was impatient. It is either we just hold or making trades and the most important is that we are comfortable doing it. In this volatile market, we can't certainly point out where we are going, market changes are inevitable, the government is started to collect taxes in some places, and for sure, it can be more difficult to think about the next LAMBO, another ATH. Yes, it is possible but the problem is if we are also been patient to wait for that moment.

Everyone has a different strategy for taking profit when trading, I rarely hold coins for a long time, so I will take profit when it is 3% profit.
I like day trading, so I always take 3% profit per day. My favorite coins are of course Bitcoin for taking profit, the volatile movements of
Bitcoin are very profitable for trading. And I use stablecoins only to secure the profit I get, so as not to be affected by volatile crypto prices.
For taxes I pay according to the regulations of the country where I live, because I don't want to be in trouble with the law. The profit that
I get now won't be able to buy Lambo, but one day I was sure I could buy Lambo from the profit I got from crypto trading.

there is no strategy in paying taxes, if it's time to pay taxes then pay it, it's everyone's duty,
bearsih the trend is still very long, even today we are still not fully in the bullish trend,
Most people will rest when a bearish trend occurs, but for professional traders, bearish or bullish is not a problem to seek profit.

those who are afraid of risk are not only unsuitable for trading, but also holding cryptocurrency.
because cryptocurrency is full of risks and at any time the market price may fall very deeply.

I only take profit in my bitcoin. Im a long term holder of bitcoin but still taking profit at times when needed or the price is bullish. Actually I have a set target price on when to sell but its not bad to get a portion to enjoy my earnings then I just buy back to take advantage if there's a correction.

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Well I dont really anticipate to have a lambo but rather an acceptable price to say that its really worth it to stay in crypto as an investment.

There are so many strategies about trading and just take a step in the profits especially in times of trend I am sure a lot of profit from DeFi especially in Yearn tokens even there is news someone got profit from token yearn $ 250k for me is fantastic.
But if you are able to do that, the profit will come to you but with me because of my limited capital, I took certain coin steps not to take risks, but I think that in the long term up to 4 years I would rather keep bitcoins longer than other coins.

Of course the advantages that can be obtained in crypto trading, of course, with the knowledge possessed by the individual.

Of the 5 questions you ask, only 2 I can answer, my own experience (individual).

I trade / invest only 4 coins that I monitor in my trading market, with various reasons why 4 coins I choose.
1. Bitcoin
2. Waves
3. Ethereum
4. XZC
The four coins have the most valuable history for me until now, I can't possibly explain here the story is too long.

Every day I monitor the movement of the coin, if I see the condition of the coin has dropped and is stable I buy and vice versa, meaning: does not determine the time there is a good opportunity right away.

Not all the people here are active traders nor intentional holders. There are people here who loves bitcoins and adopts it like how they do treat their fiats.  Do you ever think about deriving a strategy for your fiats?

I mean if you are already into a level of adoption on which assuming bitcoin for main stream then there will be no point of planning for taking profits. I am enjoying my bitcoins with that kind of strategy. I do buy bitcoins whenever it is available for cheaper prices and also I am spending bitcoins for my living and at price levels which is higher than my buying prices.

Simply, I am not selling my bitcoins for profits but for my living and at the same time, I am enjoying multifold returns for my investments in bitcoins but it takes years of time.

One of my strategies for making a profit is just simple.

Analyze the market.
Is this great to make an investment?
What is the particular news about the coin I want to trade?
There is something new about the market graph.
Do I go for a long term or short term.

Those are the starter pack I usually ask for my self before I made a decision to trade. I'm not a professional trader instead of just doing the basic steps.

I'm using to trade different coins.

You need to have those information before taking your next steps, having a good plans will bring good outcomes. You just needed to lean with your knowledge, everything is achievable if you are really aiming for  good benefits, the basic principles of buying low and selling high still being practice by traders who continuously learning from this market.

That's right. We have different preferences in terms of taking a profit.

As for me, as much as possible, I like to take chances at any possible ways I see be it mostly on BTC, Stable coin or other tokens, even sh*t ones.

I don't have any specific strategy as we all know, coins have different behaviour and we have our own criteria before making a selling action. To put it shortly, there are factor or things to be consider depending on the situation. Shouldn't be a problem honestly for those experience ones.

I am usually dealing with bitcoin and ethereum, all other coins are secondary and I do not deal with them too much, even if I end up getting involved for a short period of time I stop dealing with them after a while. But the reality is bitcoin/usdt and eth/usdt (or whatever stable currency that exchange has) means I also unwillingly deal with stable coins as well.

I pay taxes for my income thanks to my accountant, I really don't know how to do it myself, I send him all my data and he tells me what I need to pay and sends me the paperwork to fill. I really do not deal in order to become rich enough to buy lambo, having enough money to survive is more than enough for me, I am not planning on changing that at all. Hopefully it will soon be passive but that's it.

Taking profits in small steps will boost the trading activity but the profit percentage will stay at the same level. The time will not work against my trades and maybe I will not be able to take the full juice from each trade but the profit will be in my pocket in time. The advantages of the trailing stop can be used in volatile markets which can turn the trend against your trades faster than the blink of an eye.

Strategy on taking profit differs and matters depending on the individual himself on how he would deal with certain risks and circumstances for the sake of obtaining profit rather than loss. Also, the type of coins must be taken into consideration because different type of coins have different price movement and behavior which means different type of strategy or approach must be done to be able to gain profit. Mostly we are depending our strategy or approach by seeking information on the price charts as well as news about such coin so there is no definit strategy to be executed for all coins have their own price movement so you as the trader would adjust into what action must be taken to take profit from that certain coin you were trading with.

1. What currency is making a profit?
Bitcoin
 2. If it is a stable currency, when do you plan to change it?
Always, it is best to have my Bitcoin.

 3. What is the strategy for paying taxes?
It depends, if you have properties and you make important movements many times you do not pay taxes, I learned this from Rober Kiyosaki.

 4. Will your Lambo arrive before the parabolic market if it makes a certain profit?

I would like to have a lambo, but accumulating Bitcoins attracts more attention.

 5. If the cycle in space is really 4-5 years, what is the plan to address the long period of the bear market?

Hodl.

Normally my strategy has always been to try to understand what the whales do, follow and trade with the money of others, that is, to become the little fish that is always with the whale so as not to be eaten.

The price movement of the market these days are very uncertain especially if you don't have that much of experience in regards to predicting the price movement of the bitcoin market as every other coin responds to it movement.  When bitcoin rises altcoins follow and the case is the same the other way round. You might think bitcoin will be breaking the resistance level with its upward price movement then suddenly it crises down to its support level. With this in mind my profit strategy varies depending on the time of trade.

For example during the weekends I usually trade my coins against stablecoin and preferable secure my profits in stablecoin unlike within the weekdays where is trade by coins against other alts like ethereum and Binancecoin then secure my profits in bitcoin especially when the charts looks like a breakout or an upward price movement will be happening anytime soon.

Trading this couple of weeks has been more challenging then few weeks back when everything was green and the percentage profit were reading in high double digits unlike recently with the highs been just 20+ percentage gains. Back then all profits were secured in Bitcoin.

1. Bitcoin.
2. I will convert my bitcoin to a stable coin when bitcoin price can rise higher and I will wait for another downtrend of bitcoin price.
3. Paying tax? I am paying tax when I send a fiat or saving fiat in my bank account. And for hold or storing the coin, I don't have to pay the tax. But I pay the fee the transaction every time I trade.
4. Lambo car? I don't need that car. If I can make a big profit, I will not buy Lambo, but I will allocate that money for other things.
5. I plan to rebuy bitcoin and potential altcoin at a low price, and I will hold it for those years. But I will use some bitcoin to trade, just if I see there is a chance to make more profit.

1. What coin are you taking your profit?

Since I only have small money to trade I just trade an altcoin which still has a low price but has potential, I mean the altcoin price will never dump buy its holder. Like Tron, seem like this coin is good since the ETH fee transaction getting high due to DeFi project, you at least pay 1 trx per every transaction that you made. So as, with $100 with 2 leverage, I can get $20 profit per day.  

5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?

You can learn technical analyst by now, it really help you to still get profit although the bear come. You can choose future market to do that, so your trading is not one direction (buy and you get profit) only. This is what I do now, crypto currency market is in the downtrend and I still have a chance to gain profit like in uptrend market.

Right now im just a beginner into trading, also there is no additional income and I recently lose my money on trading and the best thing I could do is to lay low.


Im using a pair of bitcoin and USD only because this is the most volatile coin among others.


There is no profile in stable coins if you are going just invest your funds to make it safe stable is a useful thing but in trading? I think it's not good.



I want to share my strategy some of the exhcnage or trading platforms has a high transaction fee so to lessen those fees I convert my bitcoin again into altcoins, so what kind of coin? most of the time I'm using the ripple or xrp, because its just less than a dollar of tx fee.

One does not have all that information at the beginning though. That does not hamper making a plan for the profit.

Sorry but I had to be a Grammar nazi here :P

The current 10k USD price of bitcoin has not been able to cross to 11k USD though so I am guessing there is a resistance level at the top close to that mark. At this point buying low is also not an option but waiting it out would be better if you are having liquid cash at hand. You could like buy at the levels close to 10,000 but no guarantee that it wont drop below although the support level is strong.

Talking about stablecoins? Nope, not my thing. Have been watching them closely though but never seen them outperform bitcoin.

The coin that I am taking profit from is bitcoin. It takes long time because I am not trading bitcoin in a daily basis. It is very safe, and it is almost always sure that I will get positive roi if I hold it for long period of time. I always plan to exchange it to our local currency if there they don't have huge fees which is not good for me.

I have several ways how to get much profit with cryptocurrency, I begin with potential coin and listing with many exchange market. Waiting when the moment some coin have lower price and never take risk invest and buy some coin have reach higher price because will be lost profit all. Remember always buy and invest with bigger coin have top market position like BNB, ETH, LTC or bigger other coin, I never give chance for shit coin to buy and invest because is not hold for long time and their project will be die just few weeks later.

I do not think there can be a special strategy to taking profits from trade; i greatly doubt it, the best way to take profit from a trade is by taking profit. And if you insist on a strategy; then the question wil be "what is your trading strategy?" does it let you take profit easily? or you have to hope.

The simple process related to taking profits is easy, avoid greed and always take profit when you see it. But also, have a good trading strategy

I feel the strategy would have been engaged now and this prompted the question on the type of coin to take profit. IMO taking profit early from altcoin with stable coin wont maximize the benefit from bull market from bitcoin and ethereum expected price feat. I feel the last bullrun hurt most Americans that didnt plan well on paying tax. It is better time to learn the needful from taking profit the better way.

I totally agree that if you are going to hold a coin it should be either bitcoin or at least etheruem, I do not see any reason to have any other coin honestly because they are not really that good. The high risk involved with the high earning potential makes them quick investments, if you want to get in nobody can stop you and you will do that anyway but when you get in at least try to not stay in it too long, try to get out as quickly as possible.

Right now I am involved with one and I am planning to get out in 3 months, not going to even reinvest neither, just going to cash it out and leave. If I get to the point I like before 3 months I will get out before, but if I don't, whatever I lost after 3 months I will cut losses and leave before it hurts it more.

When it comes to taking profits from your trades there are basically only two schools, the first one is to have a fixed goal on your mind for each trade, like trying to make a profit of 1% on each of your trades and as soon as that is reached then you sell your coins immediately regardless of what the coin does from that point on, this is very popular among short term traders.

The other school comes from those that prefer to let their winners run and do not have a fixed profit margin on mind when they make their trades, however once the market moves a certain percentage against them then they will get out of their position, this is more common among long term traders and it can be a great way to make profits but it is not for those that lack patience.

Small gains is much better compared if you do just aim for big percentage gain but on longer aspect.It will vary on how a certain trader would set up his goals but we do have the same goal which is to profit, it sounds easy but really hard to be attained when you are not really that efficient with trading.

Trading does involve lots of trials and error and with the mistakes that you do commit then you should really learn from it and with that we can really make out various ways or strategies on our own.

It will vary on each person and we do have our own ways but majority are really that too lazy and just want to have shortcuts in life.

I always like topics like this regarding trading strategies, because usually I can get a lot of new strategies to be able to generate
profits from members of this forum. For now I trade mostly using popular coins such as Bitcoin, Ethereum and Litecoin. In the meantime
I like scalping strategies, but indeed we often have to monitor the movement of coins in the market. And also every profit I get from
trading, I always save it in stablecoins, usually I save it in USDT. Due to avoiding volatile prices, my assets value does not decrease when
the market falls, if i keep my coins in stablecoins.

My strategy on taking profit I guess I always take it when I trade and leave my capital back into trading I don't pull out all of my money and let the capital roll again.
There are times that I would also add my profit to my capital to earn more I only take my profit when needed or when I believe that the crypto is already at the peak price and it would soon fall.

I usually hold most of my bitcoin and other cryptocurrencies, especially today, because I am having trouble paying high fees. My strategy in taking profit in trading is "buying low and selling high." I know it is the most common strategy to profit in trading. Hence it is the most effective way to earn and save money. I also sometimes convert some of my coins in a stable coin such as USDT when facing a bear market to avoid huge losses.

1. What coins did you profit from?
bitcoin investing costs a lot of money, if you have a little money you can buy altcoins which are still cheap. My advice is to buy ethereum coins, the space for losses is small and most likely you will make a profit, you can hold ethereum coins in the long run.

I often sell my bitcoins into stablecoins, I try to take good moments when the market is bearish and try to buy them again at a low price with the aim of multiplying my bitcoins, usually I keep them for the long term and don't take short-term profits unless there are good moments, usually I multiplying bitcoins for altcoin trading, so focusing on bitcoin trading is quite promising than holding others, but one of the other altcoins I hold is IDENA  

I made most of my money by buying bitcoin. Despite the fact that the country I live in has the highest taxation rates in the world, the government has not made any regulations for the bitcoin stock market so far. I hope they never think of making such regulations or rules. By the way, I never plan to buy a lambo.  :'(

By buying and storing bitcoin the chance of taking a good profit mostly happened with great timing and good patience.
Just keep yourself away from fuds and don't stop to learn fro time to time.


That's influenced the most, when government implement such rules it will take effects right after. Just be content with decent profits
than to expect and lose your money in the short run.

One of the ways to make a profit is to buy Bitcoin and sell it at a profit using various strategies. If we can make a profit by buying and selling Bitcoin we can say that we can do this if we are a little conscious but we must have knowledge about different things. If we don't have knowledge about more than one thing we will never be able to benefit from Bitcoin.

I gained cryptocurrency through the day trade methods. And I depend to buy coins that are on top in the market of course.
Though doing day trading is not that easy as what everybody thinks about. I really need skills or understanding about it.
This was all based on my experienced only nothing else.

Bitcoin has always been the main coin for me right from the time I came into this space. And for these stable coins, they are not something I have thought of for once, I know about them but I have not used them before.

The way I do my thing I don’t think making use of stable coins is of any use for me. And as for tax, where I live there are no laws yet, although there was an announcement made recently, but cryptocurrency is not something that’s fully recognized yet, though lots of people here are into it, but there are no laws on it and I have not paid tax for it before.

^ For me, there is two ways strategy of taking a profit. A short term and the long term of getting profit. The long term is just held your bitcoin and never think selling on it until your profit was there and in the short is doing trading which is a very risky part. They said that if you are willing to take profit at-risk you are also a good businessman. Just find a way where is comfortable to you of having profit.
Nevertheless, if you don't have skills in trading or lack of knowledge, I suggest you hold this in your cold wallet for a while.

1. BTC. Welcome to Bitcointalk Forum.
2. USDT, but that would be my choice when I only day trade. I don't use it for extracting profits from my held BTCs.
3. Common Discipline. Don't invest or throw money when the taxes are burdening you. Focus on it.
4. I don't think I would be able to buy that much from my profits in crypto because it is just my side earnings in the end.
5. When speaking of any bears, I hear the hodl.

You can't make profits from stable coins, you should choose the volatile coins depends on how long you will take for your trade,if it is long term then you should go with Bitcoin like ones,for day trading you can go with trending shitcoin or just with bitcoin as well.

For tax purposes it depends on where you are from.

Yes it will usually depend on the country you live in if crypto is supported then there will be no problem in choosing coins each currency will become profitable but volatile currency is more profitable here due to the rise and fall of prices profits are made when the prices of currencies rise. But in order to make a profit you need to invest a small amount and learn the techniques of trading.

actually, just Bitcoin is enough to make a big profit...
Bitcoin price movements are incredibly fast, if you can control yourself then Bitcoin trading will not hurt. for other coins, it seems that using HYPE can be profitable.

that's true because not all countries in the world impose taxes on crypto, my country is still free for cryptocurrencies.

Yes you need to have huge experience to do day trading .Day trading is a tough way of trading you also need to have a healthy balance .It so risky as well if you lose you can lose all of your profit .I don't follow the day trading cause i don't have enough fund But i always stay on market to get my experience on high.

Today my feelings are most dominated by fatigue and to some extent disappointment. I would like a little peace of mind, but for this you need to find some projects that could provide constant passive income with good investments. But I cannot find projects that can be so trusted, and the nervous system does not allow trying to trade again.

Every project In crypto space is risky because it's still under  development and experiment even bitcoin..
There are many crypto currency that offer a good return in staking and any other kind of mining like masternode and liquidity mining. You can even invest your crypto in lending and earn annually interest of it how ever there is always risk involve which ever kind of investment you choose.

Bitcoin is also highly volatile coin but some altcoins can bump or dump 100% in less than 24 hours.So for someone who wants to make millions overnight and ready to take such risks are actually going with such altcoins.

1. I am busy with trading Bitcoin Futures so I don't buy anything in the spot market.

2. It depends on the movement of the market. I don't always use stable coins. I will take the opportunity when I buy coins that will be profitable.

3. Since my crypto is in my private wallet, I am not paying tax now. If I have to pay tax in future, I will definitely pay.

4. Lambo is too expansive for me. This dream is impossible for me!

5. I will try to increase my trading skills. I need to learn lot more about crypto trading.

It's not easy to take profit from crypto trading, so you have to really use the right strategy. I bought some of the top cryptos,
like Bitcoin, Ethereum, Litecoin, Ripple and Binance coin. And I buy all these coins gradually, then I will hold it until the price
goes up. When the price increases by 10%, I immediately took profit and saved the profit I got in stablecoins, I usually save in
USDT every profit I make. With this strategy, I have managed to collect a large enough profit. Indeed, I can't buy the lambo of
profit that I have accumulated for 3 years from crypto trading, but I can meet my daily needs at least from crypto trading.

My strategy is to keep my finger on the pulse of the market virtually 24/7 when I am actively trading.

Two options.
Either I have a trading plan for each of the assets, which means I have placed stop losses and stop profits for each coin.
Either I have a global plan for the movement of the market trend as a whole, then I fix myself with my hands when the indicators I need work out.

Crypto trading cannot make us instantly rich but atleast we know we are meeting our basic needs because of crypto trading. I only trade mostly with bitcoin and some top altcoins in the market based on what i see on the chart. And if the market does not seem to be good in trading, i also prefer to just buy at its dip and hold them until the market turns into bullish.

A person living in a country where crypto is not available to be spent would actually reduce the amount of liquid crypto coming in there and give them a more tighter schedule on how to spend those coins. They may actually end up being long term hodlers. Hence I dont believe there is a link between taking profit and your country allowing crypto unless you are speaking of authorities forbidding trading or crypto.

This is a vague statement to make. Amount if small may not always matter to be the reason. A big amount of money does reflect into a higher return percentage, because that is comparable to the risk taken. In many cases the trader need to add in money because of changes in markets and depending on strategy.

I love and believe in Bitcoin's future so in trading I try to increase my bitcoins.

I would convert 70% of my assets into stablecoins if I feel the market will adjust the price in a negative direction for the coin I am holding.


Continue to accumulate and wait for the price to rise.

This is completely true. Stable coin is more or less safe house in the field of crypto game. Whenever you feel your covers gonna blow up in the trading or in any other coin where you have invested heavily then it's better to take refuge in stable coin form.

They don't give you profits but they give protection from loosing your money in the long run. The only concern is you better choose the platform and stable coin very wisely. Good point it is.

If you are not sure about what to do when you are in profit at that moment, just cash out and wait for another opportunity, there is really no way of knowing how high a coins price could go or not, which means the best case would be to just sell and wait for another run.

However if you are at a loss, best idea would be to buy some more and drop your cost and that means you could sell for cheaper, for example you bought at 10k but it dropped to 6k and you bought same amount, average would be 8k, going from 6k to over 8k is easy but going from 6k to over 10k is harder. When you do these little things right you are going to be able to profit more and it would help you a ton as well. Trading is not hard, it is the talent of mastering small things like these in the basic level.

At the end everything depends on your preferences and your abilities, while I agree that a trader concentrating themselves on the short term and trying to get small profits from each one of his trades can be a more profitable strategy, at the same time we need to remember that is the most difficult and intensive way to trade.

Not everyone can watch the markets all day and enter in it just at the right moment, for the most part many people trade on their free time and in that case a strategy that is not as profitable but that can be employed by such person seems like a better and easier option in my opinion.

My own strategy is that there is no danger in taking small profit along the line when the market is moving in my favour. Greedy always tends to be harmful in any market situation.

Stable coins can be good to hold your money. I always convert my money into USDT at the end of every trading window like once my orders are filled and trades are completed I usually convert my bitcoins and all profits into USDT because I know that I actually ended up in profit today and if I leave them in crypto itself I might feel that I am in profit but the price change might swing it tomorrow into loss.

I always love the fact that we can convert out bitcoins in fiat now (USDT I mean) and then whenever needed we can convert it back into bitcoins for trading at no major cost apart from the minor Binance trading  fees which you can reduce further by paying in BNB coins.

I usually trade with with solid pairs or some new pairs that I believe have potential like I was one of the early believers in TRX and still believe it will grow a lot more.

Well, I usually calculate my profit at the end of the financial year and whatever my profits are, I pay my taxes based on that because they are not fixed and they are not massive so it is like if I make good profits, I pay tax otherwise I don't have to at times when the profit is low and even negative at times.

Personally I believe that trading with coins daily is more profitable than holding them for long term, which can be good though but only if the team is actually working for the product.

This is something many in the market forget or they do not want to mention, one of the big disadvantages of day trading is that each day you are generating taxable events that together with your fees can be enough to reduce your profits to zero or even making you to lose money.

This is why my personal preference is to only make a few trades for year, this reduces my fees, the complexity of my system and the taxes that I need to pay to my government, obviously compared to other systems the one I use may seem boring but unlike many traders I am not trading on the markets to get excitement I am there to win.

My strategy is simple and it is to trade with proper plan and method. I feel comfortable via FreshForex broker, where they have highly supportive features including low spreads, fast execution of trades and many more such benefits. It all combines very well for me and enables me to gain.

buy low and sell high is one of my best strategies. but I prefer to use technical analysis for it.i also use proper stop loss at my trade, because without stop loss a coin can dump a lot and i may lost all of my capital or stuck at one coin. also it is very important to do fundamental analysis before taking any trade. I also follow some top trader at tradingview and take knowledge from there chart. in this way I tried to stay risk free at my trade or i take very low risk at per trader.

I agree that everyone must have a different strategy for taking profit. I like coins with strong fundamentals for trading
and I choose a short-term period for profit taking. Usually I take profit is done daily as much as 3%, and for the profit
I got, I immediately saved it in stablecoins so that it would not be affected by the volatile market.

what about you guys who want to make enough to trade for a living but dont need that much profit a year to do so?  Imagine thirty thousand usd for example.

everyone has their own strategy, many choose to trade in the short term to buy coins and sell them even if they get a little profit, it's just that this strategy is targeted by many people but only a few are lucky to be like this.

I have the specially way how to get much profit with trading, waiting moment where bitcoin and altcoin get bad news like hack, bad tweet from world economic to buy bitcoin during price is going down. Many investor will sell their assets after get bad news like bitcoin hacked, bitcoin banned as currency transaction payment but I brave my self to buy and invest with bitcoin, after recovery and get good news I will sell my assets of course with higher price and take much profit later, never worry to buy and invest with cryptocurrency during get bad news and sell all your assets after get good or positive news, repeat this way if you wanna get lucky and much profit on cryptocurrency investment.

All the features you have mentioned are all good but what about there withdrawal process? How difficult or easy it is? Some brokers provide these features but they frustrate you when you want to make withdrawal of your profit. Some you never get to withdraw. You need to research on the area of registration. I have seen some telegram group helping new traders and guiding them on broker to go with.


This is very possible with good money management, patient with time. The capital in the account can determine how fast you can achieve it though..

If you have million dollars as capital then you can make 30K in a year easily but if you have 1000 dollars as capital then its nearly impossible to make the amount you expecting.

Futures are your friend....but a very risky friend indeed and that's logical as the more you want to win quicker, the more you have to risk.
For example, I invested 1000$ on binance futures just 3 days ago and now my wallet is almost at 5000$.....but obviously, to achieve that, you have to do almost hour by hour trading, it's like a second work (your prices alerts and stop order need to be updated almost every hour)

Personally, I mostly played on Yearn (YFI)'s recent huge variations of price to make those profits but obviously you need to be on alert almost 24/24.
Conclusion: you very rarely win that amount of money in such short time (relatively to what you invest) without working hard.

We must aligned our goals into reality so we don’t get too much stress if we fail to achieve it. In trading, there’s no shortcut for success, everything will be based on your skills and strategies. I don’t have any specific coins/tokens on my trading account, every tokens is an opportunity to make profit so if you see a good reversal sign, better to grab it. Taking profit is so easy, but waiting for that is not, it will need a lot of patience honestly.

Yes, the strategy to taking profit does differ among traders. For me, I rely on TA which is usually from support and resistance. But I must admit that sometimes one gets carried away with greed and begin to shift the parameters when take profit is about to be hit.

Any coin that is worth trading, I trade and take profit.

I tether whenever I sell off and suspect that Bitcoin (base crypto) is going to crash.

The government of my country doesn't really care about this. We only pay stamp duties and other bank charges whenever we make crypto transactions through banks.

Every trader has different techniques for taking profits because the price action dictates which way the trade will swim. For swing trading, I usually put R:R of trade 1:3 but for day trading I prefer to take whatever profit the market brings. Unpredictable markets is dangerous in day trading due to the high level of volatility, learning the long term trading will clear the useless daily noise in market graphics. For stable coins, I usually prefer to trade USDT pairs because both liquidity and depth of the market are at the desired level. Lambo dreams are far away from this point. For the last question, if the trader doesn't close the trade all losses are on paper.

I won't recommend futures trading for someone who wants to make money for their living and its really a gambling in my opinion, spot trading is the traditional way and we can use our skills to make the money we wanted.

And there comes the old adage which is even more true in futures market: only invest what you're willing to lose.
And yeah it's a sort of gambling but with some parameters you can control especially if you're good at mental calculus and you are rigorous with your strategy when it comes to put reasonables stop orders.

1. I take profit from many different sources
2. There is no coin that is stable. It will change its price somehow, if  it does not change in a day, it will be a month. If it does not change in a month, it will change in a year. Stable coin is the most safest coin in general
3. Avoiding tax is my strategy, not paying tax ;)
4. I guess not because i aim for a long term investment rather than a parabolic profit. I will be pleased even if 20 years later I will have had a lambo
5. Try different sources of making money with trading. Understand both fundamental analysis and technical analysis will give you enormous change in financial world. So, dont be afraid of trying something different, you can try even gold, binary option, futures, or even commodity

that is not true, yeah by investing 1000 dollars there is no way to actually reach that point. i mean 300% up is really rare nowadays. but if you can get stable or rather really good profit as the time going, you will reach that point. unless you are gambling to some new altcoins to actually make that money which is really difficult at this time.

Not guarantee higher amount for investing will give profit always because strategy how to choose and invest which coin do you want will give profit much for you. Depend with how trusted with coin do you want to buy because many new coin never get good moment when listing on exchange market for long time and always worth value several days after listing, after coin reaching with lower price never back again to higher price any more and you have to sell with lower price or waiting forever to see your assets could touch on higher price anymore.

That is true and while I sometimes wait for the price to get even higher but that is when I have a good reason to back up my gut feeling. Specially with altcoins like when UNI came to Binance it went from $4 to around $7-8 in a few days and I actually benefited as I bought UNI at a cheaper price and then just waited because I knew such a good project will at least rise once and I sold them around the $6 mark which gave me decent profits. One drawback though was that we cannot trade UNI in decimals so that meant I still have like 0.8 UNI in balance and there is no way to sell them unless I buy 1.2 UNI and then sell them as 2 ;D.

I like the idea of selling the coins at a small profit but if you see there is a chance the rate might go a lot more steeper than you think then just wait out because small profit is nice but having bigger profits is even better and if it starts dropping then just sell it.

1. BTC and ETH are my coins for the long run. I did had some more altcoins but eventually sold them all since these 2 best coins are enough to trade.
3. I don't know. My annual income doesn't fall in the taxable bracket yet but I will pay the taxes when it does. ;D
4. Never invested so much that I get a Lambo upon selling all my assets. I only invest that I can afford to lose and I seriously can't afford to lose as much as a lambo.
5. HOLD. This is the best strategy working very well in every situation.

I think the person above you is correct, the more capital you have and the smaller the percentage that you want the easier is to get it, if you have only 1k and want to get 30k then you need a coin to go up 30x times its current price and the only ones that can do that are altcoins that are not very well known.

This means that anyone dreaming on making their small amount of capital into something bigger needs to take huge risks and that can be very dangerous as you will now need to avoid scammers and lazy developers and try to find a gem or two among all that trash, but if you want to obtain small profits you could simply buy some bitcoin and wait until it gives you the profits you are looking for.

1) I prefer to trade BTC pairs, answer is BTC.
2) USDC or USDT The both stable coins have the backup. USDT has Bitfinex backup, IIRC.
3) In my country, for tax bank account I send the quarterly reports. Quartery and yearly reports show us how much I owe to government from the trading profit.
4) I don't think so, TBH :)
5)HODL until the market color tuns out to be green. I can wait for years to be in profit if there is no margin trades.

When trading it isnt really just ideal to rush up on making out those goals which are residing on the unrealistic side.Always set goals on where you do saw that it can be reached or achievable basing up
into your own capacity and skills not just on making unrealistic targets because that would really just create some stress which would really result into a problem.Strategy on making profit
will differ into each person some might be the same but some would really different because not all would really just be working for you but not for others.
We do came here on this market for making out profits and its just normal on creating strategies to make yourself feasible and effective rather than engaging
with it without prior knowledge and skills. Everything must be organized and well-planned.

I understand this policy but an incredibly burning desire to copy and apply other people's crypto trading strategies always overcomes beginners. You cannot indulge this temptation to use someone else's template. The trader must find his personal strategy, and he can do it only if he has a very good crypto knowledge.

Yeaa Bad news is Good time to buy!!
Best time

if you only have 1k capital and want to get a profit of up to 30k then that is too far and of course only a factor of luck if you really get 30x profits. The Defi platform is even currently popular with profits of up to thousands of percent, but has a high risk.

not whether to get small or large profits, but how consistent the profits can be. Many strategies can be done to make a profit.

 
I'm holding different coins such as ethereum , bitcoin, ripple and etc. I believe that once a trader have a lot of different potential coin a good profit will come to a holder/trader.

It depends on the situation if I saw the coin there is no improvement happening, but if the coinnare for longterm better if you should hold it.
 Paying tax is what we are doing everyday because what ever we buy on a store there is a tax from there in the trading for sure they have permit which is very big and every we trade to their trading sites they have a very small fee that they use to pay a tax.

 Im using my profit to this kind of car but maybe if the profit is really big maybe I will consider it.
 Actually there is no trader if the bullish market happen again because all we do is prediction or possibility to happen in the future and Im happy that I earned money during the bear market.

There are some good points here; I should add this though, if the goal is to make exponential gains like 40-50x and above with reasonable speed, crypto currency trading is one of the best ways on the planet right now to achieve them,

and yes it's possible.

My strategy in taking profits:

1. Maximizing my profits. I always want to maximize my income in trading. However, there are times that I have been burning because there is always a wick candle and a reversal coming next when I did this.

2. I am hearing the news and I react based upon the sentimental analysis. Most of my friends are always react depends on news wherein they don't notice that sometimes the market has reversing strategy. The fact that you joined the fud or fomo, you will become the losser.

3. I used some indicators such as MACD, bollinger bands and rsi to gather chart details of the coin I want to trade.

the best way is to wait when good volatility and volume is high and trade with good leverage like 25x-50x its high risk but its worthed if carefully calculated and you make with 1 hour the profit what you do with 1 week just make one good decision its well worthed.

plan like the attacking plan when the time is right then you attack.

with 25x leverage if 200$  goes up 5 %  then 5x25   your profit 125%   your profit 250$ not bad right? but need to be careful thats it.
with high leverage you have your initial investment plus  even bigger profit then your initial inestment.

but for this you need good plan or you might lose

True that the profits are huge specially in some Defi projects but then the risk of losing is also high. So it is like a sword you are playing with it and you might achieve something big but also you might die of the same sword in trying to play risky.

I agree though with you 100% that for exponential profits and outrageous gains one has the best chance of gaining that in crypto because I recently saw a coin named as YFI went bonkers and I am not sure how they work but they just went balls within a few days and I wish I invested there.

It is more like a jungle that is not discovered fully and you enter it, you might get something you never thought of but you might also end up losing everything.

That's also the point if you do not see always your buy and sell thats the reason you will loss some money. If the price of coins keep dump and you have a order of buying in a mid price of the token it is not worth it.

Though it is not that easy.

You might be able to see some indicators that it will go down or go up but you don't can't actually tell that it will be going in that lane. That is why as long as you've seen a price so low, better take that opportunity to invest or reinvest and hold for a longer period of time since that would be better than always looking at the price chart.

I can expect costly things like that limbo or even extravagant devices while we're amidst pandemic year. Bear market truly had influenced me and the remainder of my family, that is the reason I consider the coins I am holding as my potential benefit once most noteworthy skip will start. You can learn specialized examiner at this point, it truly help you to in any case get benefit despite the fact that the bear come. You can pick future market to do that, so your exchanging isn't one bearing.

These days. It's very hard to make a decision on taking profit because the market is smarter. You might also end up planing your self for taking profit.. But the fact about my Strategy in taking profit is just strictness.. I don't use any of your listed Strategy, I just take profit strictly whenever I feel its right to do so.

You need to consider this and try learning more deeper, once you familiarized yourself to this type of trading the chance to gained a lot is very possible. It's just needed to realized the big potentials in order to attained your success.

Trading this way will gives you opportunities to predict what future market movements will be, focus with acknowledging every situation and assess what will be the affects before picking your side.

I am not denying the the fact that it is possible to obtain those kind of profits as people have done in the past, the issue is the difficulty of that task and whether or not newbie traders can do so reliably and the answer to that is no, a newbie trader cannot reasonably expect to obtain those kind of huge profits, the only ones that can do that reliably are the ones that truly understand the technology and spend their time reading hundreds of white papers until they find a project that is good and that no one else has noticed and then hold their coins for years.

And such a thing cannot be pulled off by a newbie which for the most part should just stick to bitcoin and even then the chances that they lose all their money are very high.

Low marketcap and price of coin give chances of larger profit. 500 million marketcap coin with large community and price lower than $0.02 can make 45x easily with consistency, the lower cap require smaller fund for pumping, just some buy back can do a lot to increase the price. Bitcoin at the present price looks difficult to make 20x. We may not have to talk about some dirty things that pumps the price but speculation goes with manipulation