Exiting altcoins at the correct time is the best thing you can do do with them.

[yat97]

This is assuming you bought it early before a price pump. There is no good news if you bought high.

However, considering it's almost confirmed that we're going into at least, a mini bear market. Altcoins are going to suffer the hardest. Many alt coins are never going to go back to their all time high. I doubled my money gambling hyped up alts and the "nFt" scam... Nooblet me mistakenly thought the buy and hold strategy applied to alts. Worst mistake of my life.

I thought I was being "safe" by not taking profits. I should have sold half or more on all those coins I gained on. Now most of them, crashed down to below what I even paid for them. I could have done really well but there needs to be a golden rule that you hold bitcoin and trade alt coins.

That's going to be my golden rule.

Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins.

^ I'm going to hand write this over and over 100 times on a piece of paper like I'm back in elementary school getting punished.

I'm gonna hold every alt that has a loss. I still think it's better to hold at a loss for the hope a pump happens again. If I can break even I'll trade it back to bitcoin.

I only remained profitable with Doge (surprisingly and only due to unintentional luck) and Eth, and KSM barely.. Every other altcoin so far has been a loss. I guess it made sense at the time. I think I might be at an even higher loss if I bought bitcoin at 55 to 60k vs alts that were pumping up. However, at least with bitcoin, at very least... with bitcoin, even if you bought high, you can hodl, and you are almost guaranteed that it will one day smash through it's all time high. Countries are going to flock to bitcoin, not alt coins. Bitcoin might recover from this dip or mini bear market and continue to smash through all time highs. alt coins? Maybe. Probably not.

With alts. I've been looking at the history of most of them and well guess what. Most of them never touch their all time high in the next bull runs. Some go even higher, most dont. And many drop out never to be heard again. I knew the risks but being dumb, poor, and most importantly, super late to the game, I knew there was no way I could ever get to the amount of bitcoin I wanted to be at. Some alts were still kinda low and I heard you can get percentage gains more than bitcoin. My idea was to ride pumps on altcoins, then eventually trade profits into bitcoin, but I didn't know when to get out.

I think the golden rule of alt trading for me will also be. As soon as your money doubles, sell half, that way you're guaranteed to have not lost any money. I was hoping to ride up just a little longer. I heard of people getting 3x 10x sometimes 100x. I let emotion get in the way. I started smoking just a little hopium, then got hooked, next thing you know I was a crypto hopium addict. Now I'm living in the digital streets having spent all my hard earned money on this hopium crap. Felt good till the crash. Now I'm in the gutters begging the crypto gods for the next fix. Just one more pump plz...

[Review Master]

I think the golden rule of alt trading for me will also be. As soon as your money doubles, sell half, that way you're guaranteed to have not lost any money.

It’s not like every alts will be 2x, but it’s better profit out your initial capital whatever profits you're having at that moment like 20% or event 50%. Though profits will be small, but portfolio will increase rapidly. BTW, anyone hodl any potential alts for 2x which is having real  or upcoming major events according to FA. 

[speedy963]

It's rainbows and sunshine until you realize how unpredictable the market in this industry is, lol. But yes, I get your point. The only problem is that most of the people nowadays (the new comers) are too gullible and only choose to invest because of hype which makes them end up buying on peaks and selling at a loss on dumps. Even those who get lucky enough to invest before the peak become too greedy and do not exit which leads to losess again. Until these people learn to do their own research and control their greed, they will not be able to make profits and lose money instead.

[MusaMohamed]

It's rainbows and sunshine until you realize how unpredictable the market in this industry is, lol. But yes, I get your point. The only problem is that most of the people nowadays (the new comers) are too gullible and only choose to invest because of hype which makes them end up buying on peaks and selling at a loss on dumps. Even those who get lucky enough to invest before the peak become too greedy and do not exit which leads to losess again. Until these people learn to do their own research and control their greed, they will not be able to make profits and lose money instead.

If I choose good altcoins, and don't choose hyped altcoins, I would hold them to wait for profits. I will have to be patience because holding is not easy. But if I can not trade good, holding is better.

If I choose hyped valued altcoins, holding will rent me with time. It is bad and the end of my portfolio is so bad. I will lose most of my money with holding.

I will hold altcoins like Ethereum, BNB, DASH, Stellar, Polkadot, Solana.

[DatKing]

It is very true. Most of the altcoins in the market carry big risks. They can go up and go down very quickly. I understand also that choosing the right time to sell is really hard. But when one starts gaining experience, it can be easier to predict.

[rhomelmabini]

I don't think everyone can predict the correct time when to exit the market even on alts, I know if you can timing it it's the best thing you can ever do to protect your profit or to avoid your losses. BTC will always be the main point for stacking, I'm trading as well altcoins to make more my value in sats.

When Bitcoin is boring I tend to trade alts or hoard some stablecoins and if I appreciate that it's time to convert it back to Bitcoin or Bitcoin is showing signs of upward movement.

[bitzizzix]

I don't think everyone can predict the correct time when to exit the market even on alts, I know if you can timing it it's the best thing you can ever do to protect your profit or to avoid your losses. BTC will always be the main point for stacking, I'm trading as well altcoins to make more my value in sats.

When Bitcoin is boring I tend to trade alts or hoard some stablecoins and if I appreciate that it's time to convert it back to Bitcoin or Bitcoin is showing signs of upward movement.

What are the signs of bitcoin's rise not bringing altcoins like before, although I think bitcoin's movement is still in doubt and but bitcoin is the best alternative for diversion if the market or altcoins are in the red.
and if your altcoin has good potential and you believe you should hold it without converting it into bitcoin, the market is difficult to predict and sometimes it can be confusing to convert or sell it

[livingfree]

It is very true. Most of the altcoins in the market carry big risks. They can go up and go down very quickly. I understand also that choosing the right time to sell is really hard. But when one starts gaining experience, it can be easier to predict.

Choosing the right time to sell is hard because you don't have a plan.

But if you're that type of investor and you're very fine with the profit that you've gained and even if it's not going to be that much, you should be able to sell at the right time.

Sometimes, it's becoming hard because you want to have more and you're not contented with how much you've got already.

[nomenclatur]

altcoins always make a lot of losses if bitcoin experiences a very drastic decline then altcoins will decline even more I see for myself at this time altcoins have decreased so great bitcoin has decreased slightly altcoins will experience more declines when the current situation occurs it's better to always be aware of bitcoin price movements because the decline and increase was so fast that it destroyed altcoins I thought would bitcoin go back down like in 2017 it could have happened because I saw the market getting worse.

[HardCore12V]

Greed makes many hold unto their token and coins believing that the price will still rise up again, some even believe that 100k per BTC is possible, in 2017-2018 bull market many thought BTC is going 50,000$ because of predictions on the web, I was one of them who learned the hardway so I avoid the same thing this year and I'm happy I did.

[Expecto]

It is the best thing we can, yes. But it is really hard to predict when the correct time is. Most altcoins are even more unstable than others. If you are dealing with that kind, you have a really tough job to do.

[isaac_clarke22]

~

Let's say your golden rule applies to me as well except I removed the "trade altcoin" part.
I just simply hold BTC in my bunker and revisit it once whales already entered the market or maybe not. I am not quite sure that even 100k in BTC is still enough.

[tvplus006]

It is the best thing we can, yes. But it is really hard to predict when the correct time is. Most altcoins are even more unstable than others. If you are dealing with that kind, you have a really tough job to do.

Many people understand that a timely exit from altcoins before the correction will allow you to save your deposit. But only a few can boast that they sold their altcoins on high in time and are now waiting for the end of the correction in the market. The reason that we do not sell our altcoins in time is the desire to get more profit.

[ethereumhunter]

That's going to be my golden rule.

Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins.

I like the words that. I hope you do not sell your altcoin, instead of buying more if you have money because the altcoin will be back to the high price someday. When the bitcoin price increase, that will the time for the altcoin to increase. But this time, we need to have more patients wait for the next bull that will come. So if you can trade your altcoin and profit in bitcoin, you should hold tight to your bitcoin and not sell before the price increases. We have more times to see bitcoin and altcoin increase so waiting for a while will be necessary.

[int03h]

An atheist earns as much Bitcoin as possible. I like your point about increasing the number of Bitcoins over time because Bitcoin is always moving forward. Altcoins are highly volatile and they rise in price after Bitcoin.
Taking profits Altcoin is an art, we need to know how to be satisfied with profit even though it is small, avoids greed leading to loss. As long as you limit your investment losses, you won't lose.
To facilitate the maximum accumulation of Bitcoin, we need to first take profits from the stablecoin and wait for a strong bear market to start buying.

[hugeblack]

I don't know how people think, a currency that rose at a crazy rate and there is no technological progress or a real motive to use it, yet you find many people who buy it for nothing but that its price has risen by 1000%.
Not all altcoins are losing now unless you bought them during that crazy period when many altcoins rose by 300%.
I bought some altcoins last November and some are still profitable (I'm talking about altcoins not shit)

Any way buy bitcoin is your long-term investing.

[Lordhermes]

I don't know how people think, a currency that rose at a crazy rate and there is no technological progress or a real motive to use it, yet you find many people who buy it for nothing but that its price has risen by 1000%.

Exactly the part that got me pissed off, it unnecessary to enter an altcoin after 1000% gain except the project has a good and continuous development plan, it's annoying and unbenefitial to see investors longing for a long term plan in such coin. The best way of gaining profit in shitcoin is joining at early stage and enjoy the first time pump while puling out immediately.

[kapalmabur]

It is the best thing we can, yes. But it is really hard to predict when the correct time is. Most altcoins are even more unstable than others. If you are dealing with that kind, you have a really tough job to do.

Many people understand that a timely exit from altcoins before the correction will allow you to save your deposit. But only a few can boast that they sold their altcoins on high in time and are now waiting for the end of the correction in the market. The reason that we do not sell our altcoins in time is the desire to get more profit.

the nature of humans when they get profit and feel greedy, that's one of the factors traders always experience losses,
of course this must be avoided by traders, greed must be eliminated before bad things happen to you,
getting out of the market is also difficult if you don't understand the chart , of course you also have to learn to analyze first before trading

[yat97]

That's going to be my golden rule.

Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins. Hold Bitcoin, trade Altcoins.

I like the words that. I hope you do not sell your altcoin, instead of buying more if you have money because the altcoin will be back to the high price someday. When the bitcoin price increase, that will the time for the altcoin to increase. But this time, we need to have more patients wait for the next bull that will come. So if you can trade your altcoin and profit in bitcoin, you should hold tight to your bitcoin and not sell before the price increases. We have more times to see bitcoin and altcoin increase so waiting for a while will be necessary.

Yeah, when I get more money I'm gonna buy more bitcoin on this dip as much as I can. One day whenever my alts make double gains I'll convert half.

[Bitum]

I have read your thoughts and can say, do you know where your problem is? You just picked a bad time to buy altcoins. I have a feeling that you don't want to miss the whole party and got in, even though it was too late. Just be patient and don't miss a good starting point