Enjel (OP)
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Merit: 21
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December 08, 2017, 07:01:43 PM |
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I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
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Using crypto to pay for college.
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masterbt
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December 08, 2017, 07:05:26 PM |
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Mostly, you can do a safe cashout when the price change is not different for a week or atleast a day. you can't always try to cashout at a high price that produces risk as transaction cost and waiting time is very high at that time.
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|| My Idea Helped You, GIFT BTC
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kunalqwe
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December 08, 2017, 07:07:59 PM |
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be carefull and always try to cash out when price price of bitcoin is high and stable
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Tadblt
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December 08, 2017, 09:17:09 PM |
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I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
The the best to time to cash out is anytime. Just make sure that you will at least save some of it and do not cash-out all of your coins. You should always aim for profit and keep you capital inside the platform. The Bitcoin is really hard to predict so you should be tricky to take the advantage. Keep at least 10% of your investments inside of the platform so that, you still have the last card.
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HongKong
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December 08, 2017, 09:21:37 PM |
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be carefull and always try to cash out when price price of bitcoin is high and stable
I am with your recommendation. More fiat could be made in a few months, 2 gifts could be purchased with the amount you'd spend today.
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Ultegra134
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December 08, 2017, 09:45:22 PM |
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I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
Basically, you can't really know when the time is right. I sold at $11.600, fast forward two days later, the price was at $15.000's. I don't think you can actually train yourself to know when to exchange and withdraw, it's something that all of us have faced many times, just be patient and keep holding for as long as you can resist.
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Argoo
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December 09, 2017, 04:49:05 AM |
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If you look at price dynamics recently on bitcoin, you can see that bitcoin has been growing very fast over the past few days and from about 9,000 has reached 17,000 dollars. Yesterday, it was quite a strong decline to $ 15,453, now its rate is 16,112 dollars. That is, it can be assumed that while its some volatility manifests itself, and not a fall in the rate. Therefore, you need to watch him for a while. As soon as bitcoin finds a steady downward trend, then, in my opinion, it is also worth temporarily selling some surpluses for your needs.
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The Sceptical Chymist
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Merit: 6880
Top Crypto Casino
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December 09, 2017, 04:54:14 AM |
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OP, this is the magical question of all financial markets--when do you sell? And there's no one who can tell you with a straight face exactly when you should, because no one can see the future. If you're in the black right now, which you probably are, then now is probably a great time to take a profit. There's nothing wrong with that, IMO. You could hodl forever, but what happens if the market crashes back down to $3000 overnight? You'd be fucked! And that could happen, because the price right now is absolutely insane in my opinion. It's gone up too high, too fast.
Myself, I bought a nice pair of Bose headphones on Newegg the other day, and bitcoin paid for those. I've got no problem spending some of my btc while the price is up in the nosebleed section. Makes sense, doesn't it?
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kevoh
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December 09, 2017, 04:57:29 AM |
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How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
In my opinion, I think you have it figured out already. You should cash out whenever you need to buy something and hodl the rest. What is the point of knowing that you have some spare cash and not be able to spend it when you really need to?
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ogini
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December 09, 2017, 05:02:37 AM |
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It,s all depend on the amount in which you invested,if there have been some profit on your investment it will not be wrong you sell, do not aim at much profit on your investment.
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judemarco1996
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December 09, 2017, 05:03:42 AM |
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Do you think will bitcoin decrease its values like how its value increase this coming months?
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Dudeperfect
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December 09, 2017, 05:28:33 AM |
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Well, you are on track when you cash out when there is a need for money. However, if you are expecting gains from the cashing out as compared to that of hodling the same then do not forget to consider the possible growth of the Bitcoin and the other option in which you are cashing out the same eg: ETH, FIAT etc. I would say, study the returns on investment factor deeply and compare it in both the options.
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Text
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December 09, 2017, 05:37:34 AM |
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It seems that you already knew when to cash out, it is when you need money to buy something or a gift. For me, there is no actually right time on that because as you really need to spend it and I think you deserve to have what you wanted. Just don't take all it out because it is better if you still left some of your coins as your investment. In terms of trading, don't be greedy; if you think you have enough profits, be contented.
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Pinoyfan
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December 09, 2017, 05:45:22 AM |
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I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
The value of bitcon now is become more powerful and i think bitcoin will increase more and more and i dont think if bitcoin goes down to$2000 so if you want to cash out think before you cash out because its more good to hold it.
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michellee
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December 09, 2017, 06:00:33 AM |
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I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
the important thing that you should learn is how much profit you want to take so you know when the time to cash out. I know the time for cash out when I am making much of profit. from that profit, I cash out at least 30% of the total of the profit or if I have urgent situations and I really need that money, I will cash out with fast. only you that will know when its the right time to cash out.
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HabBear
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December 09, 2017, 06:10:28 AM |
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How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
You're not really into Bitcoin or cryptocurrency, huh? Cashing out and using your bitcoin to buy things are different things. If you're waiting for "the right price" to get out of Bitcoin, you should just get out now. We don't need people that are solely in this for the quick dollar return. We need people that believe in Bitcoin, the fundamental role it plays in the world, and the success that is just starting to float its direction. You should be treating Bitcoin as the place to keep your wealth and sell it for spending only. How many of you are here just for a quick Bitcoin return and who's into Bitcoin? Thank!
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superjeyy
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December 09, 2017, 06:23:57 AM |
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Mostly, you can do a safe cashout when the price change is not different for a week or atleast a day. you can't always try to cashout at a high price that produces risk as transaction cost and waiting time is very high at that time.
I agree with masterbt. You should be highly aware of the circumstance before cashing out your Bitcoins. I guess most people here would say that you should make the most out of the high Bitcoin rate and cash out during these times, however you should take note of the other factors as well as your actions that may lead to an unfavorable result. Bitcoin may be volatile but you should know its current state and the progression it is bound to take . You should also be aware of the consequences of cashing out during the glorious moment of Bitcoin before doing so.
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mayidid
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December 09, 2017, 06:56:40 AM |
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Cash out for the following reasons: 1) You need the money for something important or for retirement. 2) You want to cash it out and put it into something more conservative. 3) You are trading and are selling high to buy back low. 4) You think the price will drop due to bad news, a pump, a potential fork, etc. If you hold long term your investment will probably make money, but if any of the above apply to you, then you may need to sell.
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ammo121810
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December 09, 2017, 06:59:25 AM |
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Well what I can say is that if you think you had earn good enough you can sell your bitcoin partially for you to be able to enjoy the profit that your investment earned. Hold the remaining because of the high rate possibility that will happen in the next coming months.
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Carmen01
Full Member
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Streamity Decentralized cryptocurrency exchange
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December 09, 2017, 07:01:26 AM Last edit: December 09, 2017, 07:14:49 AM by Carmen01 |
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I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.
I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.
However, I have a problem - how do I train myself to know when to cash out?
For instance, last night the BTC price was high (18K), and ETH/LTC price were low.
I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.
How do you know when to cash out??
Right now the only time I cash out is when I need to money to buy a gift or something.
do the sure thing always then try also even you need to take the risk like sell some of your coins,cash-out some of your earnings then do invest again so atleast if any of your coins not go well and bitcoin not go well also you have already profit because you cash-out some of your money and to think more that's wise strategy to do for assurance or safety move here in bitcoin,I think security in money is the best then try to invest again that you can afford to lose like repeat what you do to have profit here in bitcoin and a good think or do wise again
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