Omega Weapon
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September 09, 2017, 05:09:50 PM |
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I am new and jumped all in...what I lack is exit strategy.
Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.
Anyone have good tips when and how you do it?
Maybe I got you wrong but people were writing about selling btc for fiat, whereas I really thought that you meant exit in trading. I think it this case it's best to decide the profit for each coin in advance and maybe just set them for sell right after buying on the prices you expect them to reach. If you invest $100+ then I guess even 15-20% profit is really nice. If you are a small investor - aim for at least +100% for it to make sense. This strategy will help to win from trading and minimize stupid losses. I think he is asking about both, he is asking about how to perform an effective exit strategy when it comes to trading and how to cash out his bitcoin, about the trading part I’m not an expert and I do not like the idea of holding extremely volatile coins, I prefer to play it safe and hold for the long term, that way I do not have to deal with the stress of having to watch the markets all day.
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zabisux
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September 09, 2017, 05:18:59 PM |
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It is all about my feelings. I dislike to follow very long term bull runs. If it lasts too long I left in somewhere. I also use RSI and MACD for easy exit points.
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lentzaj
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September 10, 2017, 07:48:48 AM |
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I will divide exit to 2 different methods, one exit is to exit to FIAT so that I can use the money earn. The other one to exit to some reliable and potential coins in low price vs BTC, this is another low risk investment if I want to keep the money in crypto-world for investment purpose.
Do not exit to FIAT. Some projects (bankear, tenX, iconomi, etc) will allow you to withdraw from you token portfolio with a classic debit card at the current exchange price. I hope and that in the next future (5 years ahead) paying with crypto will start to become mainstream.
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Omega Weapon
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September 14, 2017, 04:09:45 AM |
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I dont care for quick trading and pump and dump. I let my coins sleep and sell when its enough money to pay for all FUN living costs for the rest of my life.
If its not enough yet, I will sell my coins at what I consider the peak and then re-invest in promising, low price coins.
Its only a wrong strategy if just Bitcoin keeps rising and cracking new heights, but for that I do have a larger amount in bitcoins too.
This is the right way, I do not want to get some short term profits, I want to get big profits in the long term and the only way to do that is to invest in some new promising coins hold for as long as you can and wait for a pump then you cash out and do it all over again, if you are talented at it then it could be possible for you to leave your regular job and instead dedicate 100% of your time to trading.
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oreits11
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September 14, 2017, 04:46:56 PM |
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to work with exchange as investors might have with personal decision to release funds as wait within terms as met of limit with the decision
as exiting terms or to begins with the different stages with the new phase of terms.
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Argon2
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September 14, 2017, 05:03:46 PM |
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I am new and jumped all in...what I lack is exit strategy.
Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.
Anyone have good tips when and how you do it?
The exit already happened when Bitcoin hit 5K USD. Expect 2766 USD if we break support in the next 72 hours. You missed the exit door... ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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ticterine
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September 14, 2017, 06:04:31 PM |
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Ideally, you will never exit. Crypto will gain more and more mainstream adoption and the process of converting back to fiat will be useless. If you believe coins are going to catch on as legitimate payment systems and power the 21st century economy, you should never exit and only continue to accumulate.
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3DBrushes
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September 14, 2017, 06:25:26 PM |
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I am new and jumped all in...what I lack is exit strategy.
Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.
Anyone have good tips when and how you do it?
Everybody has their own exit strategies but for me there is nothing specified exactly for most of the top coins like BTC or Ethereum because they loose it's value only if it's converted to Fiat. For shitcoins I suggest you to exit as fast as possible or until you are satisfied with your profits. If you do day trader then exit around 5%
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100degrees
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September 14, 2017, 06:29:31 PM |
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In a perfect world you have already spread your bags out. However, the reality is that 12% in the stock market is killing it. My goal has always been 20%, and hang onto about 10% of your bag in case it gets an insane pump, as long as you come out ahead, you can roll it into another opportunity
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slaman29
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September 14, 2017, 06:46:34 PM |
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I plan on holding almost everything until BTC is a decently major accepted currency. I can buy a lot of things with it already. To me I do not care about the daily swings between $4,000 and $4,600, I am in for the $10,000 -> $50,000 mark.
This is money I do not really need and treat it as investments and intend to keep on growing it.. technically this is my exit strategy from USD!
You know, I wish more people like you would come out and say it. I'm sure we're a minority, but a significant one. A lot of us, even those who only hold a fraction of BTC (my fraction recently grew to 0.25 BTC) are holding and just sincerely hoping for the long-term goal. Even when BTC went almost to $5k I knew it was way too soon. Now it's coming all the way back down, I'm still not worried. It's an investment an if it ever became 0, I would shed a few tears but it won't be the end of the world. This is our lifelong exit strategy from the rat race!
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mangodream
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September 14, 2017, 07:12:01 PM |
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That's a very good question.
I always used Virwox to withdraw my BTC to my paypal account and then used paypal to withdraw to my bank.
I'd love to hear other methods to withdraw funds, if people know of any?
It's a lot easier to buy BTC using FIAT, then it is to get FIAT for BTC in my country.
__________ EDIT : someone mentioned paybis in another thread as a method to cash out, but I haven't tested yet, so tread with caution if you try it.
Thanks for this tip. I will remember it when I would get some fiat from my BTC. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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HongKong
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September 14, 2017, 07:16:23 PM |
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In a perfect world you have already spread your bags out. However, the reality is that 12% in the stock market is killing it. My goal has always been 20%, and hang onto about 10% of your bag in case it gets an insane pump, as long as you come out ahead, you can roll it into another opportunity
It’s kind of hard to tell that to someone that is trying to keep their coins within their storage because they want to see a pump even if they have the risk of them losing a bunch of money for their coins. It’s even harder to tell that to someone who is wanting to sell their coins for an emergency as well. That technique does seem like a pretty good method though, it would make it look like you are trying to sell all the coins that you have and have around 20% of all the other coins. Why not invest in only 4 coins?
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Poink (OP)
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September 15, 2017, 01:30:59 PM |
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So to clarify.... 1. I am not talking about exit from trading. Just to secure gains when goal for a coin is reached. It is hard since you always think maybe it will go higher then BAM! All the gains are gone. Anyone experienced that? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) 2. Taking refuge when I believe a major dive going to happen (like now). Keeping the alts converted to BTC is not as great since BTC also takes a dive. Sure it will rebound but there is a major opportunity lost in there that need to be exploited. I think selling BTC at GDAX is the best option for me...then re-purchase before the rebound. Converting to USDT/Tether is not a good idea IMHO, since you lose out a lot (more than most think) by "parking" your money there. I'd rather park it in real dollars than USDT.
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twinstarrider72
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September 15, 2017, 02:24:55 PM |
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I am new and jumped all in...what I lack is exit strategy.
Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.
Anyone have good tips when and how you do it?
My exit is to bitcoin. This is more "real" then anything you can buy IMO.
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oreits11
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September 15, 2017, 02:28:12 PM |
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following use of returns with the work on anchoring as moderating release from the different chance as qualifying with selection of priors with the strategy as best to gains with the finale to complete terms as collecting returns with the investment. to goes with shorter or keeping with the longer terms as the investment projects plan.
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Omega Weapon
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September 18, 2017, 12:38:13 AM |
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Ideally, you will never exit. Crypto will gain more and more mainstream adoption and the process of converting back to fiat will be useless. If you believe coins are going to catch on as legitimate payment systems and power the 21st century economy, you should never exit and only continue to accumulate.
You do not have to exit completely, you can cash out enough to recover the money that you invested in the first place, that way if everything fails you do not lose a single cent, in the other hand you could withdraw enough to buy something that can change your life like a house or property that way you will get something out of crypto and your time invested on it is not going to be wasted.
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Dullmartini
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September 18, 2017, 02:09:00 AM |
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I trade on btcc and bitstamp and can exit to usd. So i set up my limits, both buy and sell, that way I'm never caught out. I don't have a lot of experience with coins but I did this strategy with btc. sold a touch too early but set up my buy limits perfectly so I made a nice gain.
For alts, i use bittrex and all the alts I'm not planning on holding long term have stops set up. I trade the alts to btc.
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BUK2016
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September 18, 2017, 02:11:14 AM |
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I am new and jumped all in...what I lack is exit strategy.
Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.
Anyone have good tips when and how you do it?
Before you place your market position what you do is that you need to know at what percentage of profit are you going into the market for? And at what loose can you afford in case it doesn't go in your favour. Be sincere to your self stake to this principle to avoid being greedy, for greedy it's negative implication.
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Fundamentals Of
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September 18, 2017, 02:15:42 AM |
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I am new and jumped all in...what I lack is exit strategy.
Not a full EXIT but to secure some of your "gains" to real earnings. OR...where/how to convert to cash when you expect a major dive so you can re-purchase when it is low.
Anyone have good tips when and how you do it?
This is one problem I've also got. I have a local wallet but the spread is significant that it will terribly lessen your profit, even worse is that it might be reduced to nothing. That is why I am choosing Tether. I've got no option as to convert them into fiat. Fees will kill it. Withdrawals I do are always on big amounts.
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asepsetiawan1990
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September 18, 2017, 02:19:07 AM |
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if in my opinion. you should be sensitive to cryptocurrency conditions. one way to get the best way is to update all developments about criptocurrency. from there you will more easily determine a good decision
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