what is the right time to cash out?

[Cracotte461]

In trading you HAVE to control émotions.. . Accept a little loss with stop loss orders but... Nevers do panic selling !

Just look at a chart in history, ... Thérè is always a bounce back

[Harlot]

A common newbie mistake, if you have entered in the crypto trading world you must have a plan for it and one of that plans is your exit strategy or your strategy when to sell your Bitcoin. By having an exit strategy you by now would have earned a lot more rather than lose something at the end. Setting up a target price when to sell is one of the best ways to have an exit strategy. A trader should not be to complacent about the prices as they will always be subject to change.

[Siren]

A common newbie mistake, if you have entered in the crypto trading world you must have a plan for it and one of that plans is your exit strategy or your strategy when to sell your Bitcoin. By having an exit strategy you by now would have earned a lot more rather than lose something at the end. Setting up a target price when to sell is one of the best ways to have an exit strategy. A trader should not be to complacent about the prices as they will always be subject to change.

Good point. entry/exit strategy should be laid out before you buy a certain coin. So that you will not get burnt and you when to exit. Because if you don't have a exit strategy you might lose a few indeed of gaining a lot. I also experienced this before and I was thinking what am I doing wrong. So I read a lot of strategy and I found out that you should also define you exit strategy.

[vhiancs]

That is clear mistake because you were afraid to losing your bitcoin. Being trading is very risky. why you do not think it's a good opportunity when the value price become low, because you can buy bitcoin at low price then you just have to wait to increase the bitcoin's value price so you can sell it at high value.l, so you can earn some bitcoin.

[beerlover]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

It is just painful that most of you do not get to ask questions first before making such decisions and when you have panicked and made the wrong decision finish, you then end up dropping your regrets on the forum.

Moreover, you are member and you should have spent a lot of time already on this forum to have been able to understand that bitcoin is volatile and if you had follow the trend for a while, you should have noticed this is a normal trend. However, I believe you have learnt your lessons now.

[jagdeepjd]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

That is quite normal for a newbie (new to trading ) to panic and sell the coin. but I would like to suggest never sell your coin in panic specially BITCOIN. If it is altcoin I can understand selling at a meagre loss of 10-15% but never sell your bitcoin. do your research and at least try to stay in your trade for mid to long-term period. otherwise, you will lose money in future too.

[dunfida]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

That is quite normal for a newbie (new to trading ) to panic and sell the coin. but I would like to suggest never sell your coin in panic specially BITCOIN. If it is altcoin I can understand selling at a meagre loss of 10-15% but never sell your bitcoin. do your research and at least try to stay in your trade for mid to long-term period. otherwise, you will lose money in future too.

I would say even on altcoins panic selling wont really be always a good step for you to made since some of them do really still acts like bitcoin when it comes to price movement and recovery later on when theres a sudden price decrease but this thing would only be possible on some alts which not all do have these kind of traits. Cashouting on the right time is a tough job but rest assured or having a secure profit taking always reap out above on your purchased price.

[jmiro1]

I think the right time to cash out is only when you need the money. If you are running low on cash while the price of bitcoin is down, you make the withdraw. But if you don't need much cash on you and the price is falling, you should not withdraw money. So, use your bitcoin, money and time according to your needs, not your fear or technical lose or your prediction (even if it's good).

[peter0425]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

Well you have learn your lessons in the hard way. Don't listen to FUD and they even bother to touch your bitcoins. Although its just normal to be afraid and nervous, but you have to think it in longer terms.

Now you are regretting your decisions, but later when you are in the market for long you will understand what we always says that its better to hodl your bitcoin for longer term and just be cool and don't be worried if the price falls back because bitcoin has already show us that is has the ability to recover. What you experience is panic selling dude.

[GreatArkansas]

If you feel you already have profits or you need money in real life. Just like me, when I already have profits even in small amount, I can cash out anytime, because I did trading to earn not to loss, even in small amount I can earn.

[wuvdoll]

Every time is the best time to cash out,
I actually choose to hold thing now.

It may grow higher

Every time is not the best time to cash out, most especially when you are referring to the state of panic. A lot of people have made this mistake so many times and that is because they never understood what they were getting into before even getting into it.

You can cash out if you need it for something you need to do, but when it comes to trading, you should never panic in situations like a deep correction, knowing so well that it would come back right up.

[valying]

You're so scare about Bitcoin mean you have no trust in Bitcoin at all. I know the price of Bitcoin is very volitale but things are going with the posivite way not negative way .

[jamids]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

You panic sell because of the bitcoin cash rumor. I believe many of you sold it when the price is going down and some even bought more bitcoin cash watching it later go down in price. I saw someone post having 12 bitcoin and end up having 4 bitcoin left because of the bitcoin cash trade.  It happen to bitcoin many times, when there are rumors and bitcoin is going down, many are panic selling seeing the red candle becoming longer. If you decided to invest in bitcoin for the long term, you should just hold it and wait for the price to go back up. I believe you have learned from this experience and you would be a better trader the next time bitcoin price decrease again.

[SamsungBitcoin]

If you feel you already have profits or you need money in real life. Just like me, when I already have profits even in small amount, I can cash out anytime, because I did trading to earn not to loss, even in small amount I can earn.

Agree with you, it depends on the current value of bitcoin based on the time of your investment and also if you really needs money it was ok to withdraw your bitcoin that is why it is depending on the situation of the owner of bitcoin.
Me i always withdraw my bitcoin regardless the value of bitcoin because my salary is not enough to sustain the needs of my family and bitcoin is the source of income which helps me to increase my revenue and by this i am not only able to provide the needs of my family of course bitcoin gives me savings for our future expenses.

[/GeertJohan]

This is the common mistake for doing all peoples on their beginning stage. There is no matter to panic. It depends on you are a short term trader or a long term trader. You should watch the bitcoin value on everyday and when it becomes high you can trade it. 

[FoxTheHuman]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

For bitcoin I do not think we can determine when to sell it. This is a difficult question and can not be answered.

[Fear]

Unless you need cash for your own work, dont withdraw it now. Hodling BTC is always the right way to get money

[jossiel]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

You don't have to be nervous whenever you see the price of bitcoin dropping. That's a normal thing in crypto and by knowing that it's usually happening it won't push you to withdraw all of your coins.

And now you have missed a lot of chance to pursue more and since you had cut your losses the only thing that you have to do to get back is to buy again.

But you have to buy at higher price now and if you know when is the right time to cash out is if you do have to use it somewhere important or you are in dire need of cash.

[haroldtee]

I was so nervous that when bitcoin price dropped to 6000$ I was scared to loose more and withdrew my coins only to regret later that it became 8000$.
Please help me with your advice /opinion.

For bitcoin I do not think we can determine when to sell it. This is a difficult question and can not be answered.

I would not say we cannot determine when to sell, as that decision is based on each and every individual. I trade and I know when to sell and when to buy and when to get back in or cut losses. It is a normal turn of event and you can make that decision only by yourself. Moreover, it is not everyone that is into the HODL thing, and if I need cash, I can sell at any point. However, selling as a result of panic is something a reasonable person should not do as long as they understand that Bitcoin is volatile but you get to experience the best of it if you are patient enough.

[Nasty23]

Unless you need cash for your own work, dont withdraw it now. Hodling BTC is always the right way to get money

Yes holding bitcoin is the right and easiest way to earn money because it gives us a chance to earn a profit while holding it and in terms of cashing out we should spend more time for it because the price of bitcoin is continuously rising even sometimes it goes down on which is the right time to buy and not to sell it.