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Author Topic: What is your advice: When should I cash out?  (Read 2716 times)
RawDog
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December 09, 2017, 07:07:17 AM
 #21

How do you know when to cash out??
That's the bad news that nobody is talking about.  You never cash out.  You have to hold forever.  Bitcoin just keeps going up, and up, and up.  That is because it is superior to fiat currency.  Your government will try to fuck you forever.  So, Bitcoin is never going to be worse than your lousy country's money.  Your net worth just keeps going up until the day you die if you hold bitcoin. 

Cash out if:
1) You want to intentionally lose money
2) You wish to remain a poverty victim for the rest of your life
3) You already have 47 Lambos and don't want another one.

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Enjel (OP)
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December 09, 2017, 09:35:23 AM
 #22

Just to be clear, the only reason I would "cash out" is to sell high, and then buy low again.

What I was asking was not "when do I abandon my coins forever" but rather "how do I make good calls on the price"?

I gave an example in my OP, where if I had exchanged Bitcoin for ETH/LTC, I would have made a big profit, and then later maybe exchange back, etc.

Anyways, thanks for the responses.

Using crypto to pay for college.
Vritesh
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December 09, 2017, 10:25:42 AM
 #23

I think you should cash out when the purpose for which you invested have been fulfilled means the time when you are getting the amount of profit you wanted to earn from your investments ,at that time you should cash out.You can also cash out when your in the need of money.

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White32
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December 09, 2017, 11:07:04 AM
 #24

The best time to cash out is when you really need money to buy something that worth and to invest some property such as house and lot, farms, itc....

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December 09, 2017, 04:11:42 PM
 #25

That is a vague question and greatly depends on what you think is "profit". For me, I bought at $4400 and I'd gladly take profits if the coin hits $20k a piece.  Though I'm already in big profit, as of now I'm trying to stop myself from cashing out since there is still a huge room for any profits to be made before the year ends. Still got 2 weeks+ on the calendar for something to happen.
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December 09, 2017, 04:19:17 PM
 #26

For me, it is better to hold rather than risk trading. Although it gives you much profit but the difference in price when you buy and sell bitcoin might lose you some of your profit. But it's up to you. Trust your trading skills.

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December 09, 2017, 04:23:26 PM
 #27

Taking anyone advice wont work , when ever you feel that what profit you are getting is enough that is the correct time to cash out, Bitcoin reached 17k+ and now it is down to 14800 price, so profit booking time started and next uptrend is going to happen.
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December 10, 2017, 03:53:52 PM
 #28

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.
It’s a right time to sell out all your bitcoins because if you check the price of bitcoin its very high and may be in next week its price go more high then ever so you can sell it in next week also but a lot of people start selling in this week I also sold some bitcoins this week and I got a very good profit and some of bitcoin I left for next week but its confirm that this year the price of bitcoin is very high then ever so this is a right time to sell bitcoin.

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uztre29
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December 10, 2017, 04:14:49 PM
Last edit: December 10, 2017, 04:25:00 PM by uztre29
 #29

Sell your Bitcoins or anything you have at your own risk. After you are done reading all of the replies here, you are still the one that will make the decision in the end. You should look at the movement of the price of Bitcoin at the market. See for yourself. Analyze it very well. If you think it has a potential to grow bigger, then you must hold it for a longer time. But if you think its price will be dumped so hard and it will take time to come back at the high price again, then you must sell it immediately.
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December 10, 2017, 04:33:47 PM
 #30

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.

You need to set goal price for each of the coins you are holding when price reached your goal price then you just cash out from your investment,because the price is always going to increase so you need to decide when and how much profit you want.But in my view it is not the right time to sell bitcoin because the price will increase more in the coming days so I decided to hold my bitcoins until 2020.
Don't change your coins too often when it faces the price bumps because it will face price fall after the price increase so it is better to stick to one coin for certain period of time until you can earn good profit from it.

LodisMcguire
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December 10, 2017, 04:40:55 PM
 #31

It's hard to predict because of the price volatility,but you can safely cash out when the price is stable
But if you want to play safe,just cash out whenever you need fiat and just hold your btc if you dont need it because the price will rise eventually in the future
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December 10, 2017, 04:41:50 PM
 #32

for the moment no reason to consider a cash out, the market is still very new
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December 10, 2017, 05:10:37 PM
Last edit: December 11, 2017, 08:07:30 AM by ladydark
 #33

Its very difficult to find that answer and that makes this trading game more interesting.To avoid loss,you should not blindly follow the price rise of a coin so that if it gets dumped suddenly,then you would not be able to even place the sell order and you would have to sell at very low price at last.

So,just fix a profit target of 5 or 10 or 15% and complete the trade after reaching that price.Also,when you know confirmly that your coin price is going to fall,then you could sell it and cash out and re invest again at its down price.By this way,you could make huge profits.

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December 10, 2017, 05:18:29 PM
 #34

For me the best time to cash out is when you need the money or if you have something to use it because as the price of bitcoin continue appreciating converting it into fiat when you don't need it will cause regret on your part especially at this moment where appreciation is really amazing but if you want to be sure and don't want taking risk you can still convert whenever you wish then transfer it to your bank account.

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December 10, 2017, 05:21:31 PM
 #35

This is why it's always important to set targets for yourself. I think I speak for a lot of holders like myself who have time targets rather than price. For me this means a really long term view that will only require evaluation at 2020, and very likely beyond that. Price movements won't matter in that case.

However, like any thing you invest in, the first financial target should be to break even. Keep track of the investments you made initially. And if you can already cash oit to recoup that outlay then do so. Remember to also account for time invested. Cash out enough to make that time worthwhile.

Do this and you ensure you are not in loss, and that you can also enjoy seeing some fruit of your labours. So even in a worst case scenario if Bitcoin fails, you will at least have had not "lost" everything, and you come out with the learnings and experience.

Try and have fun too, that's important.

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December 10, 2017, 05:29:43 PM
 #36

I'm by no means an expert or have the right to call myself a professional trader or speculator in any way but I'll tell what I do.
Right now, the market is actually kinda easy to read and deal with if you take a closer look at what happens and try to benefit from it.

In the past few weeks, bitcoin got a lot of attention which is obviously why it went up so much in price. When the big boss (aka btc) starts going up, it goes up dramatically. So, literally everyone gives up their coins and buys into btc. Let's say you did that and you bought at a low price (13.5k which happened yesterday). What do you now ?

You hold on to btc as it goes up. And it will start going up and down (but the major trend will be an increase). Once it stops and stabilizes for some time (12-24 hours) that's the time you start scouting for altcoins to buy. As everyone is probably still selling their alts for cheap.

When the price gets stable, people think that this ride is over so they start selling and you see the price go down again and alts going up. They'll keep going up until btc decides to move up again. You don't wait until that happens. Once you made an appropriate profit from your alts you quit (I'd say at a 10% profit or less).

So this way you earn from btc and alts at the same time.
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December 10, 2017, 05:35:50 PM
 #37

No one can predict the future except to those who have the power to predict the future but most of us can't so we can't tell when someone should cashed out his or her cryptocurrency. We need to take risks when buying and selling cryptocurrencies because there can be a time that we cashed out bitcoin in a higher price but it became higher on tomorrow or the other they, it can give us regrets. It happened to me last time but I have accepted what happen because it was the reality. We need to take all the risks and accept what we have done. Even we cashed out our coins in a lower value, we need to accept it. For me, the better way to earnmore is to divide the coins for selling and for holding so there will be no hard regrets.

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December 10, 2017, 05:48:08 PM
 #38

What you are referring to is call SMART MOVE. I think this way, because when to enter and when to exit is a hard decision to make.
But it is not an easy matter for all because a "hard decision" is the concern here. Maybe some people have this ability and they are the ones who are successful.

As an example, I wanted to exchange some btc for western union and at that moment the rate was around $16500.
I thought at that time to make the trade tomorrow when price will hit $17000. But when tomorrow came the price dropped to around $13500.
So now what you will call me, stupid? Currently I am waiting for another pump for btc, and my target is still $17000. Is it a SMART MOVE? I don't know actually.

As of your case, you made this post because ETH and LTC in pumping. But what if it is not pumping today, will you still posted here?
See, this is the SMART MOVE or HARD DECISION.

If you had sold btc yesterday and bought eth and ltc than today you could be making a good profit.

Practice on SMART MOVE, and try to take fast decision.

Good Luck.


edit: A good strategy helps a lot for smart moves imo. Lets say you will take 5-10% profit from each trade opened. No matter if the price goes up later then your sale price. Just don't regret. Take the profit and find another opportunity.
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December 10, 2017, 06:01:41 PM
 #39

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.
Yes, you should know how much profit do you want to get. You must have list of evey months profit if you sell it on the current price. You should have always trial and error in that part. Trial is your profit you can earn while error is your loses. We always come up with that situation for have a better preparation in the future.

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December 10, 2017, 06:02:23 PM
 #40

Ofcourse everybody need cash in our daily needs, but when you do make sure that it will goes to the important things. You can use some cash to start a new business, buy a small farms,and so on. In this case your profit just not come from bitcoin.

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