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Hi,
I'm new to the forum and have been looking over several possible ways to maximise my earnings from Bitcoin on a daily/weekly basis as a secondary income
During the recent growth, my Coinbase account shows me the daily, weekly, monthly growth in £/$ & %
All my investment is currently in Bitcoin, but in theory if each day my investment grows by 5% for example, is it wise to withdraw that percentage to use as an 'income'. My fear of this is that although my original investment will remain untouched I will be selling a portion of the bitcoin and the more times I do this I will be left with 0.00000 BTC
I have thought of so many pros and cons to the above that I thought id ask
Any thoughts or advice would be appreciated
I'm new to the forum and have been looking over several possible ways to maximise my earnings from Bitcoin on a daily/weekly basis as a secondary income
During the recent growth, my Coinbase account shows me the daily, weekly, monthly growth in £/$ & %
All my investment is currently in Bitcoin, but in theory if each day my investment grows by 5% for example, is it wise to withdraw that percentage to use as an 'income'. My fear of this is that although my original investment will remain untouched I will be selling a portion of the bitcoin and the more times I do this I will be left with 0.00000 BTC
I have thought of so many pros and cons to the above that I thought id ask
Any thoughts or advice would be appreciated
Oh well buddy you are touching on a very complex subject i.e. money management and risk management. You may want to start by reading one of excelent books of Van K Tharp (Trading your way to financial freedom, or other books) who actually argues that in each investment it is the *exit* strategy that counts. Not the entry strategy, but exit strategy, sorry that I repeat myself, but I want to be very clear hear. And he devotes whole chapters of his book to exit strategies.
So I thought you might want to read it, since your question clearly is about how to exit from your investment
