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Author Topic: What is your advice: When should I cash out?  (Read 2716 times)
rodalutor
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December 14, 2017, 06:10:06 PM
 #61

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 sounds like you have a strategy that is working for you and you are comfortable with so why try and change it? If you are considering about cashing out of crypto all together then that's a you decision, consider how much that money means to you in terms of quality of life and how you would feel if you missed out on further gains with crypto, similarly consider how you would feel if you lost all of that.

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pushkarmore
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December 14, 2017, 06:21:11 PM
 #62

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.

Ok so your problem is in exit or cashout, see for that you must first have a good trade plan and exit strategies in your plan. There are many ways to exit from a trade, you can choose to exit from an investment trade if you have reached your expected returns of the target or if you have hit maximum stop loss.Make some kind of technical strategy for exiting something like 3SMA crossing 12SMA.
Oilacris
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December 14, 2017, 06:29:26 PM
 #63

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.
Cash outing your profits would really have different reason among people on where they would tend to make use of those either on re-investing or on personal reasons.It depends because we do have different situation when it comes on money or financial aspect and needs on daily basis.Some doesnt really care as long he would re-invest but on some people have responsibilities on life which they would really need to cash out once they do gain profits.

LordDisick
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December 15, 2017, 06:13:49 AM
 #64

In my experience I only cash out if I really need the money but if not I keep holding. For me its okay to cash out specially if bitcoin price is very high you have nothing to lose anyway. You are just getting your profit. But to be safe just cash out for emergency uses.
Shenzou
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December 15, 2017, 07:14:23 AM
 #65

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.
First of all your strategy is good and you are doing the wise thing by investing in multiple coins, that way you are ensuring that you are getting profit regularly, second when it comes to bitcoin cashing it out is really a difficult decision, because once you do you won't be able to rebuy again unless you invest the money you cash out into something else that will get you more profit than saving bitcoin and watching it rise, I personally think that the wise thing to do is to set a goal for yourself and decide that at a certain price point you are going to cash out, and by cashing out I don't mean all of it, split your cap into tow half's, sell one and save the other, that way you are making sure that you won't lose.
hookcoin
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December 15, 2017, 07:42:15 AM
 #66

You should withdraw money when you feel the bitcoin is showing signs of market bubbles. Because sometimes you can see the bitcoin is pushed too fast and the market can not accept it. That's when you need to sell the bitcoin, but then buy a bitcoin at a lower price because you know where the future of bitcoin is going.
upsidedown75
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December 15, 2017, 08:02:58 AM
 #67

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.

I admire your entire approach to managing your crypto investments. In particular, cashing out only in times of real need is a very great attitude you can really be proud of. I think you should focus less on the rise and fall of your coins' market. It is, after all, very basic that such coins will experience high and low points in their valuation. In the end, their entire worth is still rising in general. So just do your holding thing but couple it out with constant following of your coins' updates and news.
The thing is if he is not ready to thread on the trading part, then it is just better for him to hold. However, that would have been a lovely decision as that was expected though. Nevertheless, he should not just base his decisions without a strategy as in that case, I consider it as gambling instead.

He could have been wrong, but with the look of things at that moment, it was good. So, he should be ready to make his own decisions and be willing to own up for them.
moonchaser_babylove28
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December 15, 2017, 08:36:19 AM
 #68

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 all depends upon your needs, when you have an emergency or you really need that amount surely you will need to accumulate everything that can be accumulated, and bitcoin is one of that. Try to earn a little each and every now and then. By asking more of the price then you are losing more chances to earn. This I experience just recently, train yourself your emotions then you will earn little by little.
maxamus
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December 15, 2017, 08:41:10 AM
 #69

You should withdraw money when you feel the bitcoin is showing signs of market bubbles. Because sometimes you can see the bitcoin is pushed too fast and the market can not accept it. That's when you need to sell the bitcoin, but then buy a bitcoin at a lower price because you know where the future of bitcoin is going.

I think we cannot call bitcoin market as bubble anymore as when ever there is a surge it sets a new benchmark and the value does not go below that so it will not be fair to call it as bubble rather cashing out the funds purely depends on the needs of the holder as if it is some sort of emergency or need financial help or going through financial crisis then I would suggest to withdraw the funds as the sole purpose of holding bitcoin is to have sufficient asset when you need it so there is No harm in cashing out for needs.

Am I spamming? Report me!
OMGyasuo
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December 15, 2017, 02:46:04 PM
 #70

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.
I think now is the time for you to sell your btc. Prices have probably reached the highest level. The demand for btc is decreasing. So maybe prices will not keep rising.

coinplus
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December 15, 2017, 03:36:05 PM
 #71

Trust your guts, when you feel its time close the deal and wait another good entry if you plan to trade again,
By the way nice job on diversifying your portfolio, good job not all traders like the idea of diversifying investment
That is just the truth. No one can make any decisions for anyone. We all just have to trust our guts to some extent and deal with whatever comes after it.

Most times, the chart would basically tell us what to do at a certain point in time, so no one can really say what the future will hold regarding to that. So, once we make the decisions based on that, and even if things should end up going the other way round, then we will know how to make amends quickly.
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December 15, 2017, 08:06:23 PM
 #72

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 are not really thinking about cashing out you are thinking about rebalancing your cash allocation, the most conservative approach is to do that once a year decide a date and rebalance your portfolio to your desired amounts and then one year later readjust your portfolio, if you are more aggressive you can do this several times a year that way you will not miss pumps like the one we are seeing now.



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December 15, 2017, 08:54:48 PM
Last edit: December 18, 2017, 05:01:39 AM by bitcad4u
 #73

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 are not really thinking about cashing out you are thinking about rebalancing your cash allocation, the most conservative approach is to do that once a year decide a date and rebalance your portfolio to your desired amounts and then one year later readjust your portfolio, if you are more aggressive you can do this several times a year that way you will not miss pumps like the one we are seeing now.



My advice to this are the about bitcoin to hold it and it's rate was very high around $17000 and above so when price increase and that only we need sell the bitcoin.You should keep calm and hold the bitcoin and you will get profit if the reaches very high value.Avoid of panic selling,o lose your money.
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December 15, 2017, 09:38:53 PM
 #74

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.
Well it depends on you. If you need the money then you probably must cash it out. But if you are not gonna use it maybe you should hold it a little more longer because the price might increase and you'll earn profit. But you can also cash out some and use it to buy for yourself, and hold and let the remaining to earn profit.
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December 19, 2017, 08:22:40 PM
 #75

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 sounds like you have a strategy that is working for you and you are comfortable with so why try and change it? If you are considering about cashing out of crypto all together then that's a you decision, consider how much that money means to you in terms of quality of life and how you would feel if you missed out on further gains with crypto, similarly consider how you would feel if you lost all of that.
He does not want to change his strategy he wants to adjust it which is not exactly the same thing, in life you need to keep reevaluating your options so you keep getting the most out of your investments, for example lets say you buy a house and you begin to rent it but you never raise the price of the rent, in ten years your rent will be very cheap, so you need to adjust your rent every year.



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julzcoinbit
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December 19, 2017, 09:18:32 PM
 #76

Trust your guts, when you feel its time close the deal and wait another good entry if you plan to trade again,
By the way nice job on diversifying your portfolio, good job not all traders like the idea of diversifying investment
That is just the truth. No one can make any decisions for anyone. We all just have to trust our guts to some extent and deal with whatever comes after it.

Most times, the chart would basically tell us what to do at a certain point in time, so no one can really say what the future will hold regarding to that. So, once we make the decisions based on that, and even if things should end up going the other way round, then we will know how to make amends quickly.

I agree, the only reference that could we do is to monitor on its chart. Bitcoin is unpredictable which we couldn't even know when it will be going up or down. If you invest a huge amount of bitcoin when in the value of bitcoin is not as high as todays value, well as of this moment you have a huge profit. Somehow, if you feel that its a right time to cash out as you already contented on that certain valie then go, its your own choice.
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December 19, 2017, 10:51:44 PM
 #77

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.
I think now is the time for you to sell your btc. Prices have probably reached the highest level. The demand for btc is decreasing. So maybe prices will not keep rising.

Cashing out at the "right" time is very difficult. The ideal scenario is always: buy low and sell high, but this is just in theory.
Giving the high rise of bitcoin, I am also thinking of cashing a little bit of my BTC, enough to have a profit and hold the rest.



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Rainbot
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December 20, 2017, 01:25:28 AM
 #78

be carefull and always try to cash out when price price of bitcoin is high and stable
You could do cash out if you badly need money but if not, it is not necessary to do cash out. Holding your coins would be better and would be more profitable. It is just a long term but definitely a good idea to save more money.
johnrickdalaygon
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December 20, 2017, 05:41:30 AM
 #79

If you will need money better to cash out some of them but if you'll see that the price is continuously rising better to hold until you gain much profit  Cheesy then if you'll see that bitcoin is continuously dropping its value you should decide whether to buy altcoins, hold or cashouts.
manismanja
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December 20, 2017, 06:09:04 AM
 #80

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.

we can spend cash when we already get profits in trading and in dire need of money, if not yet need money then we do not need to spend cash or withdraw cash, leave it for trading.

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