Just a piece of advice needed here folks

[bitgolden]

The only way is to begin to test some strategies and see if on paper those strategies perform better than what you are currently doing, however something tells me that if you were to try to put into words what you are doing right now when you decide to exit the market you will not be able to do it, which means that you need to set a more robust strategy that does not depend entirely on your judgment of the situation at the time, and that it simply tells you what to do and you execute your strategy when it is time to get out of your position.

Paper trading must be an effective way but not popular among traders for no reasons; most probably people want to learn and test only on live market as paper trading is missing out the thrills of real trading. But, imagining that we have open position on live market but having entry in paper might serve the purpose but not sure why most people never get into such thing and then sharing how it has gone; anything positive or negative feedback will be helpful for other people so that we may keep suggesting it or may stop.

For developing strategies, these days no one need to go harder as lots of developed and tested strategies are available everywhere hence just adopting and then testing for the particular coin pair will be more than enough for any beginner.

[Sled]

Hello everyone, please I really would like how you folks get pull out in a project with huge or reasonably profit locked-in.

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

All ideas are welcome please.

Thank you all! 👍

You seem to know what you want, but are not so clear on the actions you need to take to get you there.

One of the things is that you learn by practice is having a clear defined goal i.e. if a coin reaches X time then I'll take profits at 10-20% range. From there you range it and adapt per project.

Nobody has perfect timing (at least not all the time) but the more you're involved in the market the more you'll get a feel for it.
Learn to no be greedy either. Set yourself a target and when that's reached you pull the plug. From there is all about refinement!

In summary, it was just about changing our behavior and adopting the system. To know that we can't be perfect and really never it happens but at least we do something to deal with the market volatility which results well. As we started we a goal, it supposed to end like following it but too unfortunate and sometimes we admit that it is really hard to stick to it. If this could be changed and if we keep our mindset being positive, not in doubt that we can reach our goal.

[tvplus006]

Exactly as a small trader or investor we can't buy One Bitcoin, and for this reason we can't take profit from Bitcoin holding. For this reason altcoin is best for buying and from altcoin profit we can buy Some amount Bitcoin satoshi for long time holding.               

If you cannot buy 1 bitcoin, then this does not mean that you need to refuse to invest in this coin. You can regularly buy a small part of bitcoin every time you have free money. And perhaps when the price of bitcoin reaches its high at a certain time, you will become the owner of a whole bitcoin.

[Mpamaegbu]

But what I seem to be lacking is when to actually get out at the right appropriate time.

This "appropriate time" thing is the problem of everyone in crypto trading (even in FX trading too). No one has the appropriate handle to it because there's no holy grail in trading so to say.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst.

I understand this situation well. You feel bad that whenever you sell off, price continues in your direction right? What causes this is the fear and greed factor. Once you're able to conquer your fear, you will be able to take care of your greed. The simple way to do this will be to determine your exit point and once that is done, don't exit completely when price gets to that level. Do it in bits by taking them in percentages. You can do 30–50% for a first TP and then allow the rest to run. At least the first TP would've covered your capital and put enough cash in your pocket. Learn to not regret your actions once you're out of the market because no one knows perfect timing for exits. If traders do, there won't be any poor trader.

[Silberman]

The only way is to begin to test some strategies and see if on paper those strategies perform better than what you are currently doing, however something tells me that if you were to try to put into words what you are doing right now when you decide to exit the market you will not be able to do it, which means that you need to set a more robust strategy that does not depend entirely on your judgment of the situation at the time, and that it simply tells you what to do and you execute your strategy when it is time to get out of your position.

Paper trading must be an effective way but not popular among traders for no reasons; most probably people want to learn and test only on live market as paper trading is missing out the thrills of real trading. But, imagining that we have open position on live market but having entry in paper might serve the purpose but not sure why most people never get into such thing and then sharing how it has gone; anything positive or negative feedback will be helpful for other people so that we may keep suggesting it or may stop.

For developing strategies, these days no one need to go harder as lots of developed and tested strategies are available everywhere hence just adopting and then testing for the particular coin pair will be more than enough for any beginner.

To me the explanation is simple, people do not like this because it is hard work, taking the time to paper trade an asset and using data of years to see if the strategy is profitable and then do this with many more assets to see if it was not a fluke requires concentration and dedication that most people do not want to employ, it is sad but if most people did this then we will not see all the stories of newbies losing all their money within months of beginning their trading journey.

[lixer]

If you cannot buy 1 bitcoin, then this does not mean that you need to refuse to invest in this coin. You can regularly buy a small part of bitcoin every time you have free money. And perhaps when the price of bitcoin reaches its high at a certain time, you will become the owner of a whole bitcoin.

I believe that most newbies are misguided by huge bitcoin prices and then falling into shitcoins. Yeah, they never realize that they can buy bitcoin even for $50 or lesser than to and they never need to buy one full bitcoins. This could be a psychological approach like you may feel better if you own some 10k dogecoins rather than seeing 0.002BTC in your wallet.

This is the reason new investor must need proper guidelines before start investing with cryptocurrencies. There are a lot of possibilities for them to get miss guided by scammy devs.

[LUCKMCFLY]

Exactly as a small trader or investor we can't buy One Bitcoin, and for this reason we can't take profit from Bitcoin holding. For this reason altcoin is best for buying and from altcoin profit we can buy Some amount Bitcoin satoshi for long time holding.               

If you cannot buy 1 bitcoin, then this does not mean that you need to refuse to invest in this coin. You can regularly buy a small part of bitcoin every time you have free money. And perhaps when the price of bitcoin reaches its high at a certain time, you will become the owner of a whole bitcoin.

Well, many are now capitalizing on the business of NFT games and their launches, the business is risky, it consists of staying in the whitelist of the project and buying to later sell in the public sale, this has been one of the ways that many people even with 10USD have been able to make 100USD and from 100USD they have risen to 300, then 500 and so on until reaching 1BNB, all this under the BSC network.

This is obviously one way, there is the other more traditional one in investing in altcoins and waiting for the movement of BTC to be positive so that profits of x2, x3x4 are produced ... but for now my advice is to risk a little more and enter the NFT.

[Sanitough]

You probably don't hear the saying that "buy the rumors, sell the news", this strategy is very effective especially during the bull run. Of course, when here's a bad rumor, people tend to panic and that will make the price to go down, and because the market is bullish, they didn't realize that it will bounce back in just a short period of time.

For long term investment, I suggest you do accumulate during the bear market, lots of cheap altcoins you can buy at a very discounted price, not gonna tell a certain coin but here's some tip, by a coin that is listed in good exchanges as good exchanges would normally list coins that has a good future potential.

[Finestream]

If you cannot buy 1 bitcoin, then this does not mean that you need to refuse to invest in this coin. You can regularly buy a small part of bitcoin every time you have free money. And perhaps when the price of bitcoin reaches its high at a certain time, you will become the owner of a whole bitcoin.

I believe that most newbies are misguided by huge bitcoin prices and then falling into shitcoins. Yeah, they never realize that they can buy bitcoin even for $50 or lesser than to and they never need to buy one full bitcoins. This could be a psychological approach like you may feel better if you own some 10k dogecoins rather than seeing 0.002BTC in your wallet.

This is the reason new investor must need proper guidelines before start investing with cryptocurrencies. There are a lot of possibilities for them to get miss guided by scammy devs.

If an investor or a trader could have made a good research first in the beginning, then there will be less chances that they will be misguided in the future. Let's say if they know bitcoin better and know how to acquire them even with just a portion of it, then they should have not resorted into shitcoins that is mostly more on pump and dump scheme. Or maybe invest in those coins that are on top of the market list, i think they will be more profitable in the future than just stick around and settle for those who are only profitable at the present but maybe dumping by the next day.

[SquallLeonhart]

This could be a psychological approach like you may feel better if you own some 10k dogecoins rather than seeing 0.002BTC in your wallet.

Surely the beginners in this crypto space must need proper guidelines so that they will not fall into such kind of psychologically attracting shitcoins. Like people has already mentioned if we have no shitcoins existing in this crypto space then bitcoin might be valuing at least 5x or 10x more than its current price level. It means beginners in this crypto space are definitely misguided toward shitcoins.

Or maybe invest in those coins that are on top of the market list, i think they will be more profitable in the future

May be profitable but definitely cannot beat what bitcoin investments could return in long run. In my opinion going by top ranks of marketcap is a lazy method which may not be working all the times.

[Peanutswar]

When trying to commit a trade always make a plan, not all people makes usees a plan just make a trade it's all about okay to them. Trading requires deep understanding, knowledge, and skills. Not just having a buying low and selling high strategy. People quit trading because they experience already a loss and they don't want to happen it again so they are afraid to trade. Mistakes are part of the trade so learn with it.

This could be a psychological approach like you may feel better if you own some 10k dogecoins rather than seeing 0.002BTC in your wallet.

Surely the beginners in this crypto space must need proper guidelines so that they will not fall into such kind of psychologically attracting shitcoins. Like people has already mentioned if we have no shitcoins existing in this crypto space then bitcoin might be valuing at least 5x or 10x more than its current price level. It means beginners in this crypto space are definitely misguided toward shitcoins.

This is the reason why we need to choose a coin wisely. Not all the coin will gives a good profit some of them makes unexpected rug pulls.

[checkmatesir]

People mainly fails whenever they didn't have some future plans and they don't know what to do next, but I would always suggest to every trader that how much he is investing in a coin, the main thing is how often he is buying that coins and at which time he is going out of that coin, it matters a lot as I had prefer for every trader.

[Emitdama]

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

Maybe what you need is just to learn a better strategy than the one you’re making use of currently.  for you to be able to trade perfectly you have to learn how the market works and be able to analyze it and predict what is possibly can be the outcome of the market at a particular time.

It’s not magic, it requires a lot of work to do that. So if you think that the strategy you have been using is not working for you and you’re not making enough from the market, then you should consider choosing a better strategy that would work. All you need to do is to acquire more knowledge, the more knowledge you have the more you'll be able to do better in trading.

[beerlover]

If it is only about "when to get out" then trailing stop is already a good way to handle things. Do not put a stop loss at a certain level and get out there, it would mean you would get out at way lower. So assuming you want to use stop loss, you bought at 35k and put a stop loss at 30k, then when it is 60k+ you would still get out at 30k and that won't work.

In a trailing stop you would have 5k difference at all times (numbers could change, even could become percentage) so you buy at 35k, put a stop loss at 30k, but it becomes 40k then you change your stop loss to 35k, then it becomes 50k and you put it at 45k and so forth. That way you could make a lot more money, not a guaranteed way but if you are looking just only at when to get out and how to know when to get out, this is actually quite a good method. I have done it for a while now and I will probably keep using it.

[Rehan Zakir]

A better strategy help us to make good profit and as well as a good advice. Firstly I find a project and then review on their white paper, team and their partnership. And then invest a small amount in this project. If their team continuously focus on project then I invest a small amount again in it.

[Bhig Daddy]

Well I think maybe you get greedy, you should set goals and plan for yourself, set a particular range of price for yourself so whenever your investment get there you just pull out. So don't get greedy. And again make sure you have a better strategy when trading.

[jostorres]

Well I think maybe you get greedy, you should set goals and plan for yourself, set a particular range of price for yourself so whenever your investment get there you just pull out. So don't get greedy. And again make sure you have a better strategy when trading.

That’s just how the market is, especially when it comes to the altcoins. He’s doing averagely OK, then he should be happy about that, because some people, for them it is totally worse. So anyone who is doing quite OK in the market should appreciate that.

Moreover which coins in the market have you seen have made any major move as of recent, though the top coins like SHIB, Bitcoin, and Ethereum do make some little moves, but apart from them which other coins are making big moves in the market ? You would only see just a few of them, and they make that move when it’s least expected. Unless you’re going to become a trader who is trading on a daily and making some little profit before the day is over?

[Benefactor]

You previously conceded that your procedure is poor, for what reason are you actually utilizing it behind those exhibitions that you experience. Another explanation is you want to have an exchanging plan which is the concentration in one objective on the grounds that applying different procedure generally put you in disarray.

[TheGreatPython]

I started trading (long-term) for couple of years back now and since then i've been doing averagely okay on whatever altcoins project I put into. But what I seem to be lacking is when to actually get out at the right appropriate time.

At least, if not perfectly okay, a bit fairly okay.
Please my pull out strategy are quite poor, kindly help a soul out before it gets completely worst. 🙏

Maybe you should learn technical analysis, I believe it’s going to be helpful in your trading and investment. Although there is really no guarantee that what you predicted is how the market is going to be, but it is going to help you to improve your trading.

And another thing is you should be investing in the right projects, and you should also have a target which would be leading you on your investment. If you do not have a target of what you really want to achieve, then you wouldn’t know when to pull out from the market because you are not sure of what you are doing. So, make sure you have plans.

[celinecryto]

The simple yet tough thing we need to know is when to get out of the trade whether we are on profit or loss of Bitcoin. It is important to set a stop loss level which can help in cutting your losses, this is one of the traits that all investors must have. This is also the same case for profits. Don’t be greedy, set a level for profits too so that things will stay right. You're already getting there
If we're to put things like this in consideration. It helps alot6