Newbie - when to take profit

[Lanatsa]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Sometimes, this question can really be though to answer, because the time you bought at that 700, there is a certain  quantity of bitcoin it would have bought, and even if bitcoin increase in value, it would still be the same quantity because the profit you are referring to now is profit in fiat and not in bitcoin, the only way you can record profit in bitcoin is when you either remove the profit, which mean removing the profit would still reduce your quantity, then wait for bitcoin to go back to the value where you bought the seven hundred and buy that $50 before you can have more quantity.

So the more you remove the profit you see is going to be the more that you lose the quantity of bitcoin that you have, so my won advise would just be for you to leave your coin till it gets to peak before removing everything.

Compounding is much more better  rather than on actively pulling out anytime on what you do have made but somehow as long you do make profits then it doesn't matter.

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[Hypnosis00]

What I did since from the very beginning, I get my profit by then and leave the capital...what I'll do is to separate my profit and make investments into another coin rather than of compounding it. I used to choose differently for us to have another option and to know which one is more profitable.

[nydiacaskey01]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

It depends on your plan (period of time) and target (amount). You can achieve your target in a shorter period of time if you don't take away your profits and roll it over to your next investment however, doing this you will never feel your profits or enjoy any part of it specially if all of a sudden price of Bitcoin drops.

[The Sceptical Chymist]

Ok so I now have £700 invested in bitcoin .

If that amount isn't a lot for you, my advice would be to not take your profit off the table anytime soon--unless you have good reason to, i.e., you need it for something else.  If that's the case, however, you probably shouldn't be gambling with money you don't want to lose.

I've always been a buy-and-hold investor and I don't focus on short-term trades, so I don't get too excited when one of my investments goes up in value a lot in a short period of time.  I think it's best to just let it ride and see if it makes you even more money.  But if you are interested in getting in and out of your positions quickly and taking your profit, it's really hard for anyone else to say when you should do it.  You could set a % value for when you're going to cash out, and that's probably the best way to do it, like when your bitcoin investment rises 10% it's time to sell.  That's really up to you, though.

You never know what bitcoin is going to do.  You could end up selling and missing out on the rocket ship to the moon.

[shield132]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

You may already had take decision and if yes, then let us know what you did, if no, then I'll write my personal opinion.
For quick and nice profit without no further risk, £50 from £700 (for example) is good, acceptable profit. But if you want more profit, you also have to consider that you can't exchange btc/usd when you'll need,, you have to understand that you won't need this money quickly and you'll be okey to keep money invested for months. If you can do second, then why to say no to good profit?

[DimitrisLodirogas]

Take as much as you need. you must treat the money you invested as its gone. that money is making you more money while you are doing other stuff. If you run out of it take it out of the investment.

[Thanasis]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you want to take out your profits then grow it atleast to 50% of growth from your capital then take out your half of the capital and then let the remaining work for you then cash out the remaining half after 100% growth so now you have only profits as your hold so just hold it until you feel no more reach the bitcoin can.

[Upgate]

Our profits range might be difference if you are cool with a profit you have made already then it's not a bad idea to pull it out still leaving the capital in trade.
I am a long term trader and I don't take out profit at short intervals so I wouldn't do that.

[Webberson]

Considering the fact that the market has an up, down kind of movement, it is always advisable to take profit when a reasonable amount of profit has been made on your investment. Having your capital withdrawn and leaving your profit to trade, is a good move, but you have to stick to the same principle(s) that gives you the gain initially, otherwise, you would find yourself losing the profit you've earned and reinvesting that capital which you've initially withdrawn.

[The Cryptovator]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Its depend on trend. For example I have sold some bitcoin yesterday and price was above $10.5K. And seems today bitcoin price has been dumped below $10K. Although I sold it permanently and I will not buy back but if you like then you could get benefits of that dump. It doesn't mean you will be always gainer. That's why you should well research current market conditions. Otherwise you might lose your funds.

[xamxam]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you see a coins that got dumped its value in the exchange rapidly, and you know it is a potential coins in the market like Ethereum, ada, Vet, and Xem/Nem are good to buy em now then hold until it pump the price of each of them in the exchange site platform.

[danherbias07]

That means you are also losing a part of bitcoin by doing that.

Let us say you bought at 10k usd and it risen to 11k usd then you sold a part of that for 1k usd and still having a value of 10k usd in your account. But, how much bitcoin do you know have?
Of course it wont be a whole bitcoin anymore. Maybe about .9 something is left.

You still need to accumulate that remaining hole again to complete 1 btc in case of a price drop.

[Babyrica0226]

Just sell it when you know you're gonna be satisfied by after getting that net of yours. It's your money/coin/investment. If you're gonna aim for higher profit next time than what you get right now, then you might need to consider your savings also that you could use to build your capital even further as you trade higher and higher at that time.
Just my two cents.

As a newbie, I think you need to set a goal or target in aiming profit in trading.
Then once you set it up, you must have a proper time management about the activity you are going to do
in the actual trade in the exchange site platform. After you you finish your set up as a newbie trader make sure
you will buy the promising and potential coin in the market. Good luck..

[Reid]

Take it whenever you can. Do not stop yourself when you see an opening for profit.
Then, think about later on how to accumulate another bitcoin or you could just wait for the price to be dumped again which surely happens most of the time.

Taking a deeper thought into when you will sell will just make it worse or it will just stress you.
HODL or sell. There is just two options there and it shouldn't be much of a thought.

[SquallLeonhart]

I have always used the strategy of "only withdraw when you have to" method, its not as good as some other day traders methods (some lose a lot tho) but its still a viable method if you just want to have more and more bitcoin in your account and even if it goes down you keep getting more, that way when there is another all time high you gonna have enough money to sell and do something big instead of keep making smaller profits.

Traders do make more money than this strategy if they are good and I do respect that but I am not a good trader and I don't know when to sell so instead of selling whenever I want to, I sell whenever I have to, there are stuff in life when you have to withdraw some money but if you stay careful then you can actually have 1 bitcoin without having to sell and then you can sell whatever left over is.

[adzino]

This point depends totally on you. Different people have different target. I would suggest you to set a goal. Once you have reached your goal, take your profit and start from the beginning. Or, you can reinvest your profit and add it to the capital and make more profit out of it. Just remember, the larger profit goal you set, the higher risk you will be holding. I would suggest you to keep your profit goal small and pocket your profit periodically.

[Eildosa]

If you have chosen this approach, then it is worth selling bitcoin after it has experienced a large growth. Then after the price drops a little, you can buy again and keep until the next pump. This will be your profit.

[btc-facebook]

save your bitcoin friends, and sell in 2020,
do not rush into the profits now, because future profits are many times greater than now.
and precisely if you have cold money, and you can reinvest, but I'm not advocating, just giving ideas.
it's all up to you.

[befriendmywater]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

It all depends on your thoughts. Before investing, you should get a desired profit plan and follow your plan.
Don't let the market decide your money, it's very dangerous.

[guoyu78]

Its depend on trend. For example I have sold some bitcoin yesterday and price was above $10.5K. And seems today bitcoin price has been dumped below $10K. Although I sold it permanently and I will not buy back but if you like then you could get benefits of that dump. It doesn't mean you will be always gainer. That's why you should well research current market conditions. Otherwise you might lose your funds.

I bet that the one you sold is just one of those fiat that you are using to do shorts because I believe you would not just sell your main investment finally like that when the sky is still the limit of bitcoin, if you do that, what will you tell your children in future when bitcoin equal to $1 million, and then everyone who invested now with at least 1 bitcoin suddenly becomes a millionaire, do you think they will be happy for you, better you invest now for the future and forget about all these minor profits that you will only end up using to take some bottles of wines and snacks.

Don’t mind me though, I am a long term holder, it’s what I believe in and I would not want to alter your own decision as everyone is entitled to theirs, just do as you wishes and do what is best for you.