Always have an exit strategy

[Ararbermas]

Having an exit strategy is always a good way to protect our money from manipulation, correction and etc especially if its a bearish market because you don't have clue how long it will last..indeed it is all part of our plan when it comes trading and investing in order to save our profits and to prevent massive losses. Just always remember to don't move your stop loss no matter what or should i say never change your exit strategy because you will end up nothing after all.

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[pinggoki]

Having an exit strategy is always a good way to protect our money from manipulation, correction and etc especially if its a bearish market because you don't have clue how long it will last..indeed it is all part of our plan when it comes trading and investing in order to save our profits and to prevent massive losses. Just always remember to don't move your stop loss no matter what or should i say never change your exit strategy because you will end up nothing after all.

You can change your exit strategy, what if there's a more lucrative exit strategy presented to you and you've seen all there is to see regarding this new exit strategy and you see that you're not going to lose anything here, would you still opt out towards that old exit strategy? I don't think so, if your exit strategy can evolve then let it evolve because what good would it do if you're stagnant.

[the ghabbar]

A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans.  I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.

It is difficult to reach new ATH for this month, market conditions have forced bitcoin to correct until now, the pause in the recovery has not seen the maximum, this condition further emphasizes that reaching new ATH is not possible, but in the long term the possibility of bitcoin reaching new ATH is very open, so I guess for January and February bitcoin will not reach the new ATH, however the correction phase has not recovered so far.

[el kaka22]

My exit strategy is a house. I know that it doesn't make sense for most people, I know that crypto makes a lot more money than a house and that is why people end up having some sort of weird reply to whenever I say that I want to buy a house.

However, sometimes you have to consider how you can spend your money and who will say what. I do not have NEAR enough to buy a house, it will take minimum of 4 more years by saving with the hopes that it will be 200k by the end of that 4 years. So, if it is not 200k per bitcoin, then even 4 years is not enough and will have to wait until it is there.

The reason why I want to buy a house is the fact that my wife would not let me keep investing too much all at once into anything else, I have already done small by small into crypto and can't grow to a retirement level this way, so I need to make a big investment to get it done. If I told her that I am buying a house, she will definitely see that as a possible profit maker and I could rent it and even use that as collateral to get another loan in the future, 10-15 years down the road if I have some more crypto savings and can buy another house with some of it from crypto and some of it from the loan.

[cryptomaniac_xxx]

A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans.  I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.

It is difficult to reach new ATH for this month, market conditions have forced bitcoin to correct until now, the pause in the recovery has not seen the maximum, this condition further emphasizes that reaching new ATH is not possible, but in the long term the possibility of bitcoin reaching new ATH is very open, so I guess for January and February bitcoin will not reach the new ATH, however the correction phase has not recovered so far.

Regardless if the bull run is over or not, we should always have a exit strategy. And it's logical, I mean we have the entry plan, so obviously, we will also need a exit strategy as well. And as a I have said before, it's rare for bitcoin to hit 2x of a ATH in the same year, and probably what follows after that is a bear market. And that is what we are experiencing right now, although the market going down is not that abrupt but yet there is indication that we might be in the bear territory already.

[Fredomago]

Regardless if the bull run is over or not, we should always have a exit strategy. And it's logical, I mean we have the entry plan, so obviously, we will also need a exit strategy as well. And as a I have said before, it's rare for bitcoin to hit 2x of a ATH in the same year, and probably what follows after that is a bear market. And that is what we are experiencing right now, although the market going down is not that abrupt but yet there is indication that we might be in the bear territory already.

The best thing that you can do before dealing with trading is to have this kind of plan, both entry and exit should always be plan ahead of time, it's all about your executions that will give you the benefits that you are aiming, it's not always that we see bull and bear there's always season for each market movement.

The more you prepared, the more chance to experience a better outcome.

Without any plans, you are just playing with fate and once it didn't come your way, the next you know, is you are losing your money.

[the ghabbar]

A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans.  I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.

It is difficult to reach new ATH for this month, market conditions have forced bitcoin to correct until now, the pause in the recovery has not seen the maximum, this condition further emphasizes that reaching new ATH is not possible, but in the long term the possibility of bitcoin reaching new ATH is very open, so I guess for January and February bitcoin will not reach the new ATH, however the correction phase has not recovered so far.

Regardless if the bull run is over or not, we should always have a exit strategy. And it's logical, I mean we have the entry plan, so obviously, we will also need a exit strategy as well. And as a I have said before, it's rare for bitcoin to hit 2x of a ATH in the same year, and probably what follows after that is a bear market. And that is what we are experiencing right now, although the market going down is not that abrupt but yet there is indication that we might be in the bear territory already.

Bitcoin's resistance actually doesn't need to be doubted at this time, after reaching ATH twice in 2021, the correction that has occurred has not been seen to a low decline, so it is unlikely that the correction will recover in February or March, after the correction is complete then be prepared for bearish conditions, although we don't know for sure in what month bitcoin will return to the green line, but I'm sure in May conditions will be normal.

[goldkingcoiner]

I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin

Its best to jump the fiat ship while it is still sinking and climb aboard the crypto ship. But if you absolutely need to save your money because you cannot afford short term losses, I guess just make a trading strategy and calculate a certain percentage that you are willing to lose on a trade. That will be your exit strategy. Although, as I said, I would not recommend it, as exiting causes more losses than one might think...

[justdimin]

A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans.  I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.

Even I am not holding big amount of bitcoins, honestly I am not having any exit strategy. Moreover even I am having some plan/strategy for the time around ATH, I was unable to execute it because of uncertainty of market conditions. By 2017 end, I was assuming like that we were going to have continuous bull run along with small corrections and by 2021 end, I am expecting the ATH to happen by mid of 2022 which means that not sure about that I got trapped one more time by beauty of market or not.

Still, I am happy with my long term holding; I tried to multiply my bitcoins by selling around ATH and buying back at bottoms but not being good in technical analysis is making me not to act as per my plans.

[adaseb]

I think many had an exit strategy to either get out at $98-100K or so, however it never reached that figure. Right now I think many will have an exit strategy to exit at $50K and there is a good chance that even $50K might not hit, might come close to $48K and head back down. Similar to what happened in 2018, when it broke $10K a second time, everybody wanted to get out at $10K but it went to like $9800 instead.

Either way, you need an exit strategy before a certain event happens. Lets say your strategy was to exit at the old ATH $64K, however when you saw that bitcoin had lots of steam you cancelled your sell orders and moved your sells up, and now you are left holding the bag. Have an exit strategy and stick to it.

[Yaunfitda]

A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans.  I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.

Even though the market conditions are chaotic, I don't see the decline in bitcoin price will touch the lowest point, look at 2021 bitcoin has reached ATH only twice, then there has been a correction until now, but the low has not been seen until now for bitcoin, starting from 2021 I believe bitcoin will hit a new ATH for this year, although we can't say for sure what month it is exactly.

Reaching all time high in the same year is already a big accomplishment for bitcoin. And that's why 2021 might be the last year for the bulls as we might enter a bear market and that's what exactly what we are experiencing right now as the price is stagnant at around $40k++.

It's easy to say that bitcoin will hit X all time high this year, but if you have been in the market for so long, you know that bear market is imminent as it is a natural process to occur after a bull run, so it's a cycle.

[the ghabbar]

Exit strategy is needed it is the same as setting a limitations if you don't understand the loss or if you loss so much then it is not wrong to do exit strategy,we also need it to avoid bigger loss it is better to exit than to loss everything so I think exit strategy is needed specially to those who already loss 50%from their capital. However it is still depend on the project you invested just do you're own research and make a good decisions.

The most important thing is that we must be able to invest with a knowledge base, first we know the coin we want to invest, then make a suitable investment pattern for the coin, the investment pattern is divided into two, long term and short term, so if we are familiar with the coin, then easier to implement long term or short term, research is a must in carrying out investments, without this we will find it difficult to achieve maximum profits.

[Ziskinberg]

A lot of veterans I talked to back in January/ February had exit plans that were going into action late summer and early to mid fall at the latest. That was a majority of veterans.  I think bitcoins dropping to its new bottom slowly but surely. But it won’t go past ath for a while. It has been nearly a year and 6 months. Historically it probably means the btc 2021 bull run is over.

That's what smart traders/ investors should be thinking. The bull run is over so let us not expect a new ATH anytime soon. With the way the market is moving, it's already giving us a hint that anytime we will see a huge dump, and when that happen it will make the dump more serious as some may panic.

[eaLiTy]

~
Still, I am happy with my long term holding; I tried to multiply my bitcoins by selling around ATH and buying back at bottoms but not being good in technical analysis is making me not to act as per my plans.

You do not need to be an expert in technical analysis to understand these aspects. When you see the coin moving from below $10 to above $50k i sold a portion of my holdings as i never expected that kind of rally this year to be frank, i thought these valuations were possible during the next rally, but you will be surprised with the rally all the time even though i saw all the bull runs till now.

My next target was $75k but we are yet to reach that target this run, either way i am happy with the current rally and will take positions according to the market situation.

[Silberman]

Exit strategy is needed it is the same as setting a limitations if you don't understand the loss or if you loss so much then it is not wrong to do exit strategy,we also need it to avoid bigger loss it is better to exit than to loss everything so I think exit strategy is needed specially to those who already loss 50%from their capital. However it is still depend on the project you invested just do you're own research and make a good decisions.

The most important thing is that we must be able to invest with a knowledge base, first we know the coin we want to invest, then make a suitable investment pattern for the coin, the investment pattern is divided into two, long term and short term, so if we are familiar with the coin, then easier to implement long term or short term, research is a must in carrying out investments, without this we will find it difficult to achieve maximum profits.

And that is why most people fail in this market, they do not really have a defined strategy about what they want to do and how to do it, many people just buy a coin and then hope that things will go their way, when a complete investment strategy will tell you which coins to buy, when to do so, when to get out when in profit, when to cut your losses and finally it will tell you how to enter again a market you exited too early, if your strategy cannot do all of that then it is incomplete and it is necessary to review it.

[boyptc]

I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin

Yeah, that's likely what it is. Before we've got some plans of selling at a certain high price but right now, the world's situation is no longer becoming good.

We got to have a plan that will save ourselves from these economic down falls and that is to get into bitcoin. That's why I won't sell a lot even if the price of bitcoin goes up.

The inflation rates are increasing and as well as the salary is slow in increasing, to cope up with these problems, HODL is the key.

[mirakal]

I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin

Yeah, that's likely what it is. Before we've got some plans of selling at a certain high price but right now, the world's situation is no longer becoming good.

We got to have a plan that will save ourselves from these economic down falls and that is to get into bitcoin. That's why I won't sell a lot even if the price of bitcoin goes up.

The inflation rates are increasing and as well as the salary is slow in increasing, to cope up with these problems, HODL is the key.

Holding bitcoin is the best investment option, I'm in the crypto world so I will support my statement. However, it's a risky investment so we cannot rely just on that to solve our financial problem or the inflation thing in the long run, we need to find another source of income to increase our funds to live a comfortable life, the investment we have now may like our retirement so we don't have to worry about out finances in the future.

[boyptc]

I truly believe the best exit strategy is to exit from FIAT and forever hodl bitcoin

Yeah, that's likely what it is. Before we've got some plans of selling at a certain high price but right now, the world's situation is no longer becoming good.

We got to have a plan that will save ourselves from these economic down falls and that is to get into bitcoin. That's why I won't sell a lot even if the price of bitcoin goes up.

The inflation rates are increasing and as well as the salary is slow in increasing, to cope up with these problems, HODL is the key.

Holding bitcoin is the best investment option, I'm in the crypto world so I will support my statement. However, it's a risky investment so we cannot rely just on that to solve our financial problem or the inflation thing in the long run, we need to find another source of income to increase our funds to live a comfortable life, the investment we have now may like our retirement so we don't have to worry about out finances in the future.

It's risky for those that don't understand it.

Someone who's new to it has to understand the risk before they go just as what we do. At first, it's going to be hard because you'll be living with volatility.

But once you're used to it, that means nothing and you're just going with the flow of the market and that's no longer going to hurt you once you see it dropping hard.

[the ghabbar]

Exit strategy is needed it is the same as setting a limitations if you don't understand the loss or if you loss so much then it is not wrong to do exit strategy,we also need it to avoid bigger loss it is better to exit than to loss everything so I think exit strategy is needed specially to those who already loss 50%from their capital. However it is still depend on the project you invested just do you're own research and make a good decisions.

The most important thing is that we must be able to invest with a knowledge base, first we know the coin we want to invest, then make a suitable investment pattern for the coin, the investment pattern is divided into two, long term and short term, so if we are familiar with the coin, then easier to implement long term or short term, research is a must in carrying out investments, without this we will find it difficult to achieve maximum profits.

And that is why most people fail in this market, they do not really have a defined strategy about what they want to do and how to do it, many people just buy a coin and then hope that things will go their way, when a complete investment strategy will tell you which coins to buy, when to do so, when to get out when in profit, when to cut your losses and finally it will tell you how to enter again a market you exited too early, if your strategy cannot do all of that then it is incomplete and it is necessary to review it.

The market reaction makes people confused in investing, actually strategy is the first step in opening up space to invest, if buying coins and then hoping for a miracle is a wrong pattern and we need to fix, how many people fail to invest because of the absence of a good strategy, almost in general people do things not based on the right considerations, that's why I say investment should be done with considerations, strategies and patterns that bind.

[bakasabo]

"Exit strategy" sounds like an excuse to sell with losses. Person would better try trading to minimize loss or continue holding imo. Instead of having an "exit strategy", I would better have a "money pillow" that will help me to keep on the surface and not to get bankrupt, and continue holding. However, this "money pillow" should not be used as an investment in crypto, it must be used only IRL while holding crypto and waiting for a desired price to sell it at.