hertznetwork (OP)
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June 15, 2021, 03:16:32 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
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Maus0728
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June 15, 2021, 03:43:13 AM |
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Have you done any technical analysis before getting into trades? T.A will probably be one of the most important guidelines to set your target price. It could an inverse level of the leg of the move, or when the trend fails to hold the price, etc. Commonly, people who leave their trades unattended due to being overconfident that the price will continue to go up without setting a target price in mind will surely lose their profit and time in the long run.
It also depends on your bankroll management/ risk management. There are people who decide to close their position when they have 2-5% of profit or perhaps, psychologically speaking when they are happy with the returns. Remember that R/R will give a hint to know when the pull yourself in and out of the trade.
@OP, the goal is to have a consistent winning trade that you can duplicate over time to survive in the long run. Also, there are a plethora of trading strategies out there that you need to backtest, forward test, accuracy test to determine which works best for you.
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numanoid
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June 15, 2021, 03:49:18 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
When you feel the price already too high and that coin doesn't has any usage. I.e DOGE, SHIB, ELON, AKITA and other shitcoins. If you HODL promising altcoin which is promising such like BNB, CAKE, BUNNY, MDEX, and etc, you don't need to sell it until it reached moon
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noorman0
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June 15, 2021, 04:09:19 AM |
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You, I and anyone else will never meet the maximum profit, no trader really manages to sell at the peak on pumped coins unless it's luck and accident. TA is useless if emotions dominate your trading. So let the TA do the most of the work and decide. That will help you set profit targets.
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CryptopreneurBrainboss
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June 15, 2021, 05:13:07 AM |
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Does anyone have a good strategy for knowing when to sell?
Simple answer to your question is to always have a strategy for investing in any project you pick interest in, without a strategy you'll be left vulnerable to the market. The strategy should involved an entry point as well as an exit or take profit point. The take profit could be in batches but irrespective of what strategy you come up with, your initial investment should always be secured as the market especially that if altcoins is very unpredictable. There are many scenario that could play out like after you sell the coin keep raising in value or when you neglect selling it dumps in value but if you have secured your initial capital you won't be affected.
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davis196
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June 15, 2021, 06:22:57 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
When the altcoin price is pumping,you just wait.When the pump stops and the price is in a situation,where you don't know whether it will go up or down,you sell. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) The price might go up again,after you sold your coins,but you shouldn't regret about the profits you missed. The price will eventually drop below the level,where you sold your coins,so you could buy again. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) This sounds like a rookie advice,but almost all altcoins act the same say-pump and dump cycles. I believe that HODLing in the long term is a wrong approach,when it comes to trading altcoins.
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LimLims
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June 15, 2021, 06:25:28 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
Listen dude, the evil between us in only the greed. If you can control it then you will win any war that you are thinking to fight. According to my personal knowledge and experience, i set a fix percentage when to cash out. I also do a lot of research like how much the coin will rise and what the great traders are expecting the coins results. After reviewing all the above info , i set a profit target and sell the coin when it reaches it. Hope this helps you OP, and clears some of your doubts on your mind.
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Lakai01
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June 15, 2021, 06:42:02 AM |
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CoinBureau is in my opinion one of the best crypto youtubers out there and not too long ago he published a video about exit strategies, how to recognize exit points and which indicators are available. The video lasts about 25 minutes, but it is really informative and easy to understand even for a trading novice: When to SELL Your Altcoins: Complete Guide!! 📈The video focuses on altcoins but the strategies presented can be used for BTC, too.
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Alisha-k
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June 15, 2021, 07:37:40 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
The rule still remain sell high and buy low. It all depends if you depend on fundamental or technical analysis or you use both to analyze the direction of the market. For you to sell it.depend if after your analysis you discover series of lower lows on the chat you sell and wait for a change in trend before buying back by so doing you make extra profits outside the regular hodling policy. It's not really easy to analyze as such but with consistent practice you would become a pro at thism
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Johnyz
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June 15, 2021, 07:58:00 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
Depends on your contentment, if you are already happy with 10% profit then you can sell right away and reinvest that money in other project. You have to set your target price and cut loss level, this should be done right before you execute your trade. Analyze the price chart, this is the best strategy using indicators so you can know when to sell or buy. Personally, 20% profit is my minimum but if the market is still bullish I adjust that limit.
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jrrsparkles
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June 15, 2021, 08:30:40 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
If you are particularly talking about altcoin then I won't recommend it for you to hold forever, just sell it when you are in the bump because as far as I know when an alt bumps too much it will fall down very soon and there are only few exceptions to it since those coins are influenced by famous people like Elon Musk.
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traderethereum
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June 15, 2021, 08:42:30 AM |
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As long as you can see an increase in the price after you bought, you can sell it right away without waiting for the other high price because that will not always happen. When you do not sell the coin because you believe that the price can increase more than the current price in the next days or weeks, you can still hold your coin and wait for that time. If you hold the coin while the price already increases, you become greedy and want bigger profit, which is not always happening. So you should have a target price to sell so you do not feel confused when it is the best to sell.
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NeuroticFish
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June 15, 2021, 09:04:22 AM |
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when is the best time to sell
Imho you cannot pinpoint the best time to sell unless it have already passed. So you have to have a plan and stick to it. Sell 10% at price X, sell other 20% at price Y, buy more if it falls under Z. Greed may or may not help you, it may make you rich or may make you bagholder, depending on the coin. And if possible, diversify to minimize the risk (this usually also means to keep 50%+ in BTC) Of course, you have to make your own decisions, don't follow blindly any advice. Your money, your decisions, your responsibility.
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passwordnow
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June 15, 2021, 10:01:08 AM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
As long as I've made a gain, that's all it. There's no need to wait for any moment that it will go more than the gain is, as long as I'm very much satisfied with the gains that I've got with it, I have no other complaints. Especially if that alt is about to be dumped by me and I'm only waiting for the right moment for it to sell. You can hold for long if you truly believe what's on it. And you just do the typical strategy, you sell at profit and wait for it to become cheaper to eventually buy back.
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xSkylarx
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June 15, 2021, 11:24:50 AM |
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Does anyone have a good strategy for knowing when to sell?
Your selling price should be your own decision, I know that all of us want to sell at the ATH to maximize the profit but there is really no way to know that. If you are contented with your profit then you can sell that altcoin, don't regret even if it goes higher. Learn to control your emotion when you are getting greedy, just think of what will happen if you didn't sell and that altcoin starts dumping. There is no right time to sell, it is just our greediness that consumes us when the market is rallying.
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DarkDays
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June 15, 2021, 12:22:50 PM |
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I know its an individual thing, but if you are in an alt and it is pumping...when is the best time to sell? I feel as though every-time I am in a coin that starts to make some good gain I leave it to long to sell..Anyone else do that. I heard it is because of greed, we star imagining all things we can do with our new profits, but the longer we leave it the more chance of not making good profits. Does anyone have a good strategy for knowing when to sell?
Well it depends on the type of coin you're holding, the profit margin you want to get and what the market is doing at the time, and whether holding it longer will realistically be in your favour of holding. As a rule of thumb, try to get out when you can be happy with x amount of profit, and if no profit at all then you might need to think if you should still sell at a loss or continue to hold. And, yes, don't get greedy if you can make a healthy profit - take it!
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Questat
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June 15, 2021, 01:18:11 PM |
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To sell at High, of course. But the question is when? In that case, it was an individual decision. It is a need for us to analyze the market so well and think we become lucky to sell it at the highest price before it falls.
I certainly can't tell you nor someone could tell that. The only thing I can suggest to you is not to be greedy, having 5-10% was enough for me. You have to set a target price when to sell, this will help you to determine when to sell.
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sarmrakib
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June 15, 2021, 02:43:12 PM |
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I actually do a simple trick with it .I just set a price where i really wanna sell my coin i don't get panicked after it and i never ever forget to set my stop loss .Fortunately i never fall to touch and hit the stop loss .Its because i never buy any shitcoin which can pump within a second and get lost within second .I wait patiently after entering the market and hold my nerve until i get my goal .
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danherbias07
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June 15, 2021, 03:09:21 PM |
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There is no good strategy about selling because you will not know whether it will go north or sideways. All you can do is take the profit whenever you see one. That's trading. You don't cling to the coin or the project, you are like the devil that could move part of the market and holders will hate you sometimes. Long term trading is a difficult to handle, there will always be greed like you said but if you have a plan and focus on that, then you might earn a substantial amount of profit from it. But it's not an easy way. You may have to blind yourself for months just so you wouldn't see the volatility. It could be dumped where you will panic or will be pumped where you get greedy.
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