Just a piece of advice needed here folks

[Bollexz1]

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! 👍

[1714209887]

1714209887

[GreatArkansas]

I think you are lack of plan or goal.
For able to identify your target to get able good profits, you should have planned at the beginning, and sticking with it is good.
For me, I already tried this, one of the best ways I am doing is I am not taking profits in 1 time, like I am doing partial taking profits, like selling a partial amount of what I bought from a long time ago. By doing this, you can probably lock some profits and you may still go along with possible profits.

[TinaK]

If your strategy will not work and you have a loss streak continuously, I advise you to leave that strategy and start to find another one.
It's really hard to find a good strategy but you need to test it to the market first before using it in actuality. You already admitted that your strategy is poor, why are you still using it behind those performances that you experience. Another reason is you need to have a trading plan which is the focus in one goal because applying different strategy always put you in confusion.

[bittraffic]

When you see you have a substantial profit you can get out of that trade especially if it's an altcoin, most of the time they slide deep when the market shifts to bear.  Don't fall in love with an altcoin, you'll have a hard time dumping it. When you find it in your analysis that the price already is on its ATH, sell it. Its not going to turn into BTC when you hold while the price is plunging.

[Bitcoin_Arena]

You need to have a plan, mate. Daily, weekly, monthly etc. Know when to say enough is enough, take profit and start a fresh with a new trade

If you don't have a plan, greed will mess you up, and by now I think you know how volatile the crypto market can be. Today your assets can be worth so much profits, while tomorrow it could be the opposite.

[sheenshane]

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

Do you mean you are selling your altcoin even you don't have a profit?

Actually, there's no sign when we will actually get pull-out profit in the project where we invested.  In the crypto sphere, all are unpredictable and no one knows what will happen next.  If you're contended of what profited right after you have to get selling, be happy. But if you have a targeted plan, much better because it's easy for you to follow your plan.

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. 🙏

It needs to elaborate more so that we can able to understand your concern.  If you think which you are most compatible with, just do it.

[2double0]

If you trade without patience and sell when you see panic in markets, you will always average out. But if you have patience and won't sell even in the worst situations because you have faith in your tokens, then you will make big gains in it. Always invest in the form of 25-25-25-25, never put 100% of your decided portfolio in a coin immediately because you'll be stuck later. You must buy it in parts and take advantage of dips and see the outcome later.

[Zilon]

For every single investment you make should have a well documented plan on how much profit you expect in return and be disciplined enough to pull out as soon as you hit your profit margin. It's really not easy but once you have full control over your greed appetite you can take a hold of this

[crwth]

The easiest way is to be satisfied with your gains. As long as it's positive, whether it's $1 or $1000 in trade, profit is still profit.

I see this with somewhat greedy people and want more to have what they think they deserve. This ends up becoming a nuisance to your mental health, and it could affect you in ways that you cannot imagine, like being more greedy and then ending up losing more and more towards the market. This is hard because we're humans. We are too much affected by our emotions, and we want more.

Just like what others said, set a goal. Whether it's a 10% gain on your trades or just 5%, as long as you made it, you should be happy. The best way to get out the right way is that you trail your wins. Like ±1% of your initial goal before closing. Like once it reached 10%, and then watched out if it adds or minuses 1%. When it adds, wait some more before closing, and if it goes down, close the position right away.

[adaseb]

I can see it just now. People saying “I’ll take partial profits at ATH” and it’ll go to ATH and then they will say “I’ll take partial profits at $100K” and it’ll go to like $99K and head back down to like $50K and people will be like “I’ll take profits at old ATH $64 if it gets there” and most likely it never does and they end up selling at the bottom if there is a bear market.

Greed is a very powerful emotion, especially when we are getting 5% days and all over TV and everywhere people are calling for $250k to like $10,000,000 which that Saylor guy commented earlier today. And in the end they end up losing out due to greed. It can’t go up forever.

[jossiel]

I think you're already doing good. Having that said that you've been doing averagely, I think it's just a matter of more experience that you need to have.

Just think of the profit is profit mentally and you're going to do good and won't feel regret that you've sold early or late.

[Wexnident]

Well, as long as it isn't a loss I'd reckon what you're doing is pretty good already? Honestly that's the top goal of what to consider whenever I used to trade back then, to profit, whether small or high, as long as it's profit then all is fine imo. Having a "fairly okay" strategyt is honestly a lot better than having a no good strategy. Just keep it up imo, maybe spread your portfolio a bit more, but that's it. Honestly, it's a lot better to actually profit, even if a bit, rather than miss out the chance off making one due to trying to maximize the profit gain. Never try to achieve the best possible profit, but rather the best of what you can.

[Strongkored]

Just do partially, enter the market not immediately all in as well as when you will go out, sell some while staying in a profit position, but in my opinion if your trades have been going well with profits, it's okay, don't be too greedy to always think about getting more because might be you will be stuck especially when you trade in altcoin pairs whose the movements very quickly, and also big holders play a very important role in that market.

[palle11]

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! 👍

Your exit point should be like your entry point too. You had a thing you look at before you enter your trade. Like you watched your candle stick formation that you felt it was time. For closing also the candle can be a guide to your exit. Apart from that you can also exit by knowing support and resistance levels . It will do you good to set your stops or exit close to those points depending if you are buying or selling. If you use your support and resistance to calculate your trade you should follow that in your exit. If you are a daily trader, know it that you will have to be sure to exit your trade daily, don't allow roll overs because every new day present it own trade, supports and resistance for yesterday are not same for today. Good luck as you adopt the changes to your trade.

[Husires]

averaging with altcoins is not an ideal long-term plan because altcoins are based on the idea of ​​adding features that do not exist in bitcoin or imitating them faster and with less fees.
altcoin are a good investment before they are discovered and then turn into models that achieve accounting losses more than profits.
Here are some basic tips:

• Do not invest in altcoins for the long term.
• Do not invest in altcoins with low liquidity.
• Do not invest in altcoins based on trading volumes or market capacity.
• Do not invest in altcoins with crazy highs or recent ATH.

averaging works great in bitcoin.

[tvplus006]

...All ideas are welcome please.

You have the same problem as most novice traders, when they see that an asset is increasing in price, they do not fix the profit received, waiting for further growth. And as it turns out later, an unexpected dump of the market leads to the depreciation of the asset. Therefore, take what the market offers you in a timely manner.

[Bollexz1]

Another reason is you need to have a trading plan which is the focus in one goal because applying different strategy always put you in confusion.

Truth of the matter is that I don't apply different strategy, I might have done that in the past but not anymore. So these days I only stick to one which I still considered poor.

If your strategy will not work and you have a loss streak continuously, I advise you to leave that strategy and start to find another one.

Yes and that's basically the reason why I sought for advice on here.

[sujonali1819]

That means you can not secure your profit can not finish your trade at the appropriate time. To be honest this is not a problem that is faced by only you. We all here are facing this. The main way of secure profit is believe yourself. If you always hesitate to take any decision you can not finish everything with good result. And don't be greedy to much.

Another thing is nobody can not finish the game with 100% accuracy. So always take it  very easy and trust/depend/believe yourself and your decision.

[Ararbermas]

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! 👍

I'm not an expert but for me the good way to pick a good project where you can obtain good return, is those projects that always mentioned in some news around the internet and what's hot projects every month because for sure they're all have potential..
And also when it comes exit strategy, it's simple go and check other traders strategies in youtube because on that way you can easily follow the steps and what are the important things to know about the strategy.. To make it short all the information can be found in the internet just invest time for it if you're really interested to know more stuff about trading.. 

[Wind_FURY]

OP, just HODL Bitcoin, and you wouldn’t have to worry “when to exit at the appropriate time”. Because at the “right time”, no HODLer would need to sell their coins. Bitcoin will be accepted EVERYWHERE. It’s starting in El Salvador, and it’s not going to end there.