How do you know when to sell

[whosayswhat]

I am a college student looking to make a buck every once in a while trading crypto (mainly BTC). My portfolio is $500 of my savings so nothing big really. This is like a pilot project where I get to learn what is what and see if I can trade. I am considering going full time during summers and hopefully after finishing college if summers will have spared me. The question I am constantly facing is, how do you know when you should (or have to) sell? When the price is rising, I don't want to sell because... greed ––tbh. But again when the price is dropping, I don't wanna sell either... sometimes the price might be lower than when I bought. In general, I am bullish that the price will eventually rise and I will make a killing, so no need to hurry. But again, I don't want to be a hodler; I want to be a trader. How do you guys know when to sell?

[tmfp]

I am a college student....... I want to be a trader.

The same approach for both: learn your subject, read, understand.

[OgNasty]

It's usually pretty obvious.  Go into a Crypto chat room.  Every 4 years you'll see people talking about buying helicopters and castles.  On the news they'll be showing you how to buy into crypto, sitcoms will be making episodes about it, you'll see that get rich quick friend on your facebook feed talking about how he's going to be a billionaire...

Just remember that short term trading is no different from gambling, and don't pretend it is anything else.  Also keep in mind the old wall street saying, "bulls make money, bears make money, pigs get slaughtered."

[BitMaxz]

Learn the basics of buying low and sell high. I know greed is one of the reasons why you're thinking twice (if you're going to sell or wait and maybe the price will increase more). So change this attitude because it won't make you profit if you stay holding them.

Learn how to use stop-limit order and OCO function from binance(or other exchanges) to avoid losing and make a profit.

Here's a sample strategy below:

- I bought bitcoin at 8800.51 the current price right now is 8837.51 I'm going to set OCO/Stop-limit/stop-market function or any similar function where you can set the sell order to $9k and stop-limit to 8790 if the price touch on $9 USD it will trigger and sell the BTC to USDT and make you profit.
But if not and the price is going to drop below $8800 the stop-limit will trigger and sell it to 8790 before the burst price drop. So you can save your money from losing too much.

Doing this will make your profit higher than what you lose or you can set the stop-limit to 8800 value and lose 51 cents.
So, the trading function from Binance as a sample will give you advantages in trading.

[mk4]

Put on a reasonable price target, and stick with it. One of the hardest parts of trading is controlling your emotions(panic selling, fomo, etc), and that's definitely one of the things you need to control if you want to potentially be a decent trader. I really wouldn't suggest doing trading as a sort of "main job" though, but it's completely up to you.

[Wexnident]

Buy low sell high. Isn't that the entire concept of trading? Still, if you're planning to go for day trading, that involves difficulties since, well, you take what you can take. You take a point where you need to exit the market, two of them tbf. One is when the price drops to a certain point that any more would result in losses you can't take, and the other would be when you've achieved the profit you've wanted. The first is pretty easy to set, since well, you're losing after all. The second is the harder one cause greed sometimes gets in the way, so research is your uhh 1/2 answer to that. The other 1/2 would be entirely up to your decision making capability.

[cryptoaddictchie]

One of the hardest parts of trading is controlling your emotions(panic selling, fomo, etc), and that's definitely one of the things you need to control if you want to potentially be a decent trader. I

This is true, I am indeed enduring this for a while, Imagine losing more than $400 for just an overnight because the market crash really heart aching but since I am holding it I am just ignoring it. My bid isnt hit but its fine, hard to make a call when you dont have time to check every minute of market movement.

Buy low sell high. Isn't that the entire concept of trading?

It is, but the very concept should refer to TA and when your dont find time to grasp or understand this, I suggest stay away from it until you have learned and more used to it. Trading involves risk and confidence, you dont wanna put your hard earned money without thinking of the consequence of every move we take.

[boyptc]

Start with the little that you can and trade on your own so that you can experience how things would turn. Usually, the most basic tips are actually the thing that's happening in the market.

Those buy low, sell high advises are for real.

And with the experience you have, it's basically what you need to determine when you have to sell.

[LbtalkL]

Since your topic is about trading I guess it is better to move your thread at Trading Discussion - https://bitcointalk.org/index.php?board=8.0 you can move it by editing your thread and find the move topic and you are good to go. Back to the topic How do you know when to sell, You can set some limit or targets like 5% or 10% profit. If you reach that percentage you can sell your coins. Some exchanges have stop loss/stop profit feature so better learn about it.

[Saint-loup]

I am a college student looking to make a buck every once in a while trading crypto (mainly BTC). My portfolio is $500 of my savings so nothing big really. This is like a pilot project where I get to learn what is what and see if I can trade. I am considering going full time during summers and hopefully after finishing college if summers will have spared me. The question I am constantly facing is, how do you know when you should (or have to) sell? When the price is rising, I don't want to sell because... greed ––tbh. But again when the price is dropping, I don't wanna sell either... sometimes the price might be lower than when I bought. In general, I am bullish that the price will eventually rise and I will make a killing, so no need to hurry. But again, I don't want to be a hodler; I want to be a trader. How do you guys know when to sell?

You have to look at the previous resistances, it's not like a 100% sure bet of course, but you have at least more chances to make profits if you sell the resistances. Above a former resistance, all buyers are in profit and can TP anytime, so it's more risky to keep holding at those prices.

[Nawrod]

You just need to learn from the previous market's fluctuations, that's the key. Try to understand what's going on right now on the cryptocurrency market. Learn from your mistakes too. I also recommend you to check some special tools which could help you to decide when is the right time to buy/sell and which coin, for example the Galaxy Score which is available on CoinDeal -> https://coindeal.com/support/article/galaxy-score

[quarkfx]

that's a question many has , when to sell or when to buy but no one have a perfect answer . what I do is keep a target according which I buy and wait for it to reach , its all a mater of greed and fear according to that you can decide 

[Malvika_sitlani]

As this industry is volatile so try to grab some knowledge first and try to learn about this industry so that you can buy or sell coins easily otherwise there is a high risk of losing your money. Before invest just do your full research about the crypto industry and then trade.

[Sohyun Park]

All of that come by practice. There are guides available outside that can tell you how to apply Technics to know buy sell points. There are even people who give signals it is upto you whether to stake your funds against the call or not.

Instead, if you want to gain some hands on without actually losing funds then you can work on test net and when you are confident enough then you can start trading actual funds. There is no more short cut.

[tvplus006]

Since you are currently a student , you will have little time left for trading. I recommend that you leave 2/3 of your deposit on hold, for example bitcoin. This method will help you cover the risks associated with trading. And with the rest of the money, arrange a training session by buying and selling top altcoins.

[gentlemand]

Doing the exact opposite of what your emotions are telling you to do usually pays off nicely.

A more foolproof way is settling on a figure that you're happy with and sticking to it rigidly no matter what when the figure arrives. The chances are extremely high that you'll ignore it, but that means perhaps it wasn't the right figure in the first place.

I have a few alts that have been sitting around for years. They've soared and plunged. I'm fucking bored of them now so the moment they reach the level I want they'll be gone. I'll be past caring if they rise further. There's no emotion attached to them any more. They made me wait long enough and I want out and I won't look back.

[Jet Cash]

Put an imaginary £500 into an imaginary trading account. Then pretend that you are trading with it by making imaginary purchases and sales. See how you get on for 3 months. If you make an imaginary loss, then you need to do some more reading. Analyse your trades,and if you feel comfortable with them, then try speculating with £100 for another 3 months.

[Saisher]

I am a college student looking to make a buck every once in a while trading crypto (mainly BTC). My portfolio is $500 of my savings so nothing big really. This is like a pilot project where I get to learn what is what and see if I can trade. I am considering going full time during summers and hopefully after finishing college if summers will have spared me. The question I am constantly facing is, how do you know when you should (or have to) sell? When the price is rising, I don't want to sell because... greed ––tbh. But again when the price is dropping, I don't wanna sell either... sometimes the price might be lower than when I bought. In general, I am bullish that the price will eventually rise and I will make a killing, so no need to hurry. But again, I don't want to be a hodler; I want to be a trader. How do you guys know when to sell?

You must check your motivation first, there's always a temptation not to sell when the price is rising it's natural I have experienced this so many times in the past and still experiencing it, you must make a spreadsheet on when do you want to sell when it hit your sell preference and you must follow it, and after selling don't look back sometimes we regret after our expectation did not happen.

[Juggy777]

I am a college student looking to make a buck every once in a while trading crypto (mainly BTC). My portfolio is $500 of my savings so nothing big really. This is like a pilot project where I get to learn what is what and see if I can trade. I am considering going full time during summers and hopefully after finishing college if summers will have spared me. The question I am constantly facing is, how do you know when you should (or have to) sell? When the price is rising, I don't want to sell because... greed ––tbh. But again when the price is dropping, I don't wanna sell either... sometimes the price might be lower than when I bought. In general, I am bullish that the price will eventually rise and I will make a killing, so no need to hurry. But again, I don't want to be a hodler; I want to be a trader. How do you guys know when to sell?

It's always been buying low and selling high formula nothing has changed on this formula and it's been effective ever since, just buy low and when you think you made at least 10 to 20% profit you can sell right away, the danger is being too greedy to wait for the price to go higher only to find out that it will not and you lose your chance to sell high because the market is slipping.

@aioc you would make more money in the stock market with short term strategies, but if you persist with your desire to sell crypto’s in the short term I feel you’ll burn your cash and you’ll not be able to recover it. Furthermore I don’t sell in the short term but if I ever did, it would depend a lot on the upcoming events and their impact on the crypto market.

It's usually pretty obvious.  Go into a Crypto chat room.  Every 4 years you'll see people talking about buying helicopters and castles.  On the news they'll be showing you how to buy into crypto, sitcoms will be making episodes about it, you'll see that get rich quick friend on your facebook feed talking about how he's going to be a billionaire...

Just remember that short term trading is no different from gambling, and don't pretend it is anything else.  Also keep in mind the old wall street saying, "bulls make money, bears make money, pigs get slaughtered."

@OgNasty thankfully he’s on Bitcointalk where members like you present a real picture of crypto trading, and now he has to choose which one is he Bull, Bear or Pig lol.

[Goodvalony]

You need to focus on your books and read otherwise you might be carried away with the market. it is terrible when you are into day trading. You may not always concentrate  on your books due to your money in the trade. they said " men pays so much attention their funds than any other thing" i suggest you read and focus on your studies. when you are tru or during your holiday period, you can trade if you want.