Art of quitting !!!!

[niisarearning]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

[mk4]

Not sure if I'm qualified to answer this question, but just like with buying in whereas you should have a sort of target buy price, you should also have a target sell price. I think you should simply set a price goal whereas you set your sell offer, instead of trying to sell at the very top, because it's going to be very difficult to guess the price roof.

I think you should move this to the Trading Discussion subforum though.

[Red-Apple]

i wouldn't call it "quitting". it is more like taking profit out. of course this is only concerning when you are making an investment and care about nothing else.

to take profit you have to have set a target for yourself. this target is set based on things such as the profit you want to take, the market state, the asset you have bought, the potential of that asset, and a dozen other things depending on what you have invested in.
for example in an altcoin that is getting pumped, that target for me depends on how much power that pump has, how much hype is circulating in the media about it and also about how much volume i see going into that pump. then i try to speculate a top and dump my altcion a little below that target because i don't want to be late.

[fiulpro]

I purchased the Bitcoins when their price was *3 of what it is right now and the only reason I didn't sell the Bitcoins is because I had already lost a lot and I was unsure that it could go worse , therefore even now I have some Bitcoins in my wallet waiting for the bull run.
But I think the first red flag should be decrease in value by 20% that's when you are already loosing and when it's less than 50% of it's value the exit strategy should depend on the amount of money that you have invested.
Generally if it's more than 500$ then the loss percentage is countable and then also you need to see how much of this loss is valuable to you , if you are willing to loose that amount then I think you should wait a little maybe you get lucky.
This is entirely dependent on your income , your amount of investment and your choice.
It's different for everyone, thus I think it's purely a personal matter no one can give you any advice about it.

[goaldigger]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

Quitting means cutting your losses but not earning profit. Those who quit are usually panic sellers who bought on peak and too stressed to have it on hand. They quit not because they earned something but to avoid further losses on the price drop. Theres never a good thing in quitting so never quit.

[MakeMoneyBtc]

I think knowing when to quit is important in a lot of area of life and not only when we are talking about investment. When something goes wrong and you know you can't achieve it quiting is probably the best option for you but the problem is most people have learned to never quit so they go on and end up failing. People have this bad mentality that they should never quit but that's wrong.

[alisafidel58]

From my understanding of the art of quitting means that knowing when to quit in trading even though the potential profit might grow. It's like the market is good but you are afraid that it might fall down in a couple of hours and decided to stop the process of trading.

[mindrust]

The trick is, you need to have a target price or a target net worth.

If you don't have either one of these, you'll get trapped in the markets forever and never able to get out. This is because it can always go higher for better profits and it can also go always lower so you can accumulate more.

There is no end to this.

Set a target price/net worth and get out when you accomplish your goals.

Making money is fun but there are other things in life too.

[darklus123]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

I cannot classify that strategy as quiting. They just know when and how to take and entry or to take out their entries and that is how they gain advantage to crypto market. Because if that is being classified as quitting there might be no coming back in the market

Quit = "leave (a place), usually permanently."

https://www.google.com/search?q=quit&rlz=1C1CHBF_enPH837PH837&oq=quit&aqs=chrome..69i57j69i61j0l4.1479j0j7&sourceid=chrome&ie=UTF-8

[alisafidel58]

Quit = "leave (a place), usually permanently."

https://www.google.com/search?q=quit&rlz=1C1CHBF_enPH837PH837&oq=quit&aqs=chrome..69i57j69i61j0l4.1479j0j7&sourceid=chrome&ie=UTF-8

That not what OP meant, you didn't have to google search the meaning of "quit". Art of Quitting is a strategy of knowing when to stop to reduce a loss in profit or income.

[BrewMaster]

it depends on whether you are actually quitting or exiting. and also it depends on what is it you are quitting, is it bitcoin or an altcoin or something else? i am going to assume it is bitcoin:
to quit, there is no strategy. you just sell and say bye bye to bitcoin.
to exit, you usually want to sell at a price that you know is a bubble or is a mini bubble or basically anything that is going to be followed by a correction during rises.

for example today where price went up fast, it was a good time to sell but you had to sell at $5000 or anywhere near it and then buy back again when the market calmed down around $4650 to $4750.
which means 25% profit on the rise and buy back of same amount or more with the profit at 5-7% after the correction.

[darklus123]

Quit = "leave (a place), usually permanently."

https://www.google.com/search?q=quit&rlz=1C1CHBF_enPH837PH837&oq=quit&aqs=chrome..69i57j69i61j0l4.1479j0j7&sourceid=chrome&ie=UTF-8

That not what OP meant, you didn't have to google search the meaning of "quit". Art of Quitting is a strategy of knowing when to stop to reduce a loss in profit or income.

That is why I have said that i cannot classify that strategy as art of "quitting" based on that definition above. I was just trying to give out my opinion tho lol. I know what that means, it's just that I have my own definition of that term if we do talk about the crypto trading. It may be appropriate if the art of quitting is being performed for "love,work, life".

Edit: Brewmaster somewhat get the idea as well "exiting" rather than quitting

[gantez]

The trick is, you need to have a target price or a target net worth.

If you don't have either one of these, you'll get trapped in the markets forever and never able to get out. This is because it can always go higher for better profits and it can also go always lower so you can accumulate more.

There is no end to this.

Set a target price/net worth and get out when you accomplish your goals.

Making money is fun but there are other things in life too.

Setting a target is nice and what makes it better is if you have a trading pattern that guides one to exit. For instance, if market is over bought or over sold and it corresponds with the target, then it is a clear sign that staying longer is a high risk.

[kryptqnick]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

This is an interesting topic, indeed. One thing is knowing when to quit, which is of course important. But I think that another thing to draw attention to is being able to quit. When things are going well, you can just sit there and hold your bitcoin without spending it on anything. And it's not the same as the problem of not selling at the right moment. Let's assume bitcoin is gradually moving up and up and up forever. It's hard for an investor to sell it at some point and start enjoying the stuff one can now afford, because one can always wait a bit more and gain more. Eventually these kind of people die rather poor, burying with them tons of money that never got the courage to spend.

[Johnzky]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

I am not on this stage because i need alot to learn and earn first before going to quit but i have my plans already when it happens

For me my quitting position is when i already get my target amount of profit even if this took me how many years,my target is to earn half a million dollars and then quit in crypto ,Extend my existing real life business and focus on real life activities,and forget virtual life forever (but ofcourse not by using crypto as a currency in future)

[lyks15]

We can call it quitting? As you say they already earn so they hit their goal and target. I think the scenario is  have an objective that when you hit the goal then cash out. We will say quitting when someone will start investing and felt hard but suddenly decide to exit or pull out their capital for me that action is quitting. I can say that this is playing safe not art of quitting.

[Zadicar]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

Totally quit or just temporal exit on securing profit?

If you do mention about quitting then it do talks on to completely stop on what you are doing and since you have mentioned about Exiting thats why im little bit confused on what you are trying to talk about.

[Beerwizzard]

In most cases in crypto if you are lucky to buy some coins and you see that it is pumping right now and getting like 3x growth then you better immediately sell your coins. Such situations usually happen after a successful ICO and in most cases price is never getting back to the pumped level. Situations with coins like TRX are not predictable and you should never think that your shitcoin would have a strong and long term growth, just drop it. There is no art here.

[pushups44]

I think looking at the historical chart will tell you that a drastic fall follows every parabolic rise. Investors can certainly learn from this by taking profits after a massive parabolic rise. Of course, I will probably keep bitcoin and let go of the alts.

[Pamadar]

As long as you have a target zone for both entry and exit position then you are good to go with this types of business, trading industry have a lots of significance, you needed to learned from time to time, knowing where to sell out and take your profits or cutting your loses and move forward is really a tough job inside this industry, but eventually after several trade you will be able to learned it masters your skills.