JamesDaniel90 (OP)
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August 06, 2022, 11:14:11 AM |
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Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.
My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.
Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?
When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.
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tranthidung
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August 06, 2022, 11:41:21 AM |
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Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?
From my experience, the best is taking profit to retrieve your initial capital back. Then, if you still believe in what you are holding, you can keep holding it and wait for higher price. Fortunately, with this approach, even if the worst happens, you will not lose any cent of your initial capital. With good scenario, you can have x5, x10 in profit.
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decodx
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August 06, 2022, 12:27:04 PM |
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Have you ever had the experience of making a ton of money on your first investment, only to see it all disappear because you were too impatient?
I've been there. And I've learned that the best way to recover your initial investment is to simply wait it out.
When you're new in the industry, it's easy to get excited about making big returns quickly, but if you don't take profit when they come, that excitement can turn into frustration and disappointment. That's why I always try to remind myself of this advice: the best way to make money is to take a slow, steady approach. You might be thinking, "That sounds like common sense!" But most people don't really think about this when they first start out, so if you're one of them, maybe it's worth taking a step back and really thinking about what your goals are and are they better served by taking a big risk or taking a slower, more careful approach?
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Morningstarr
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August 06, 2022, 12:46:02 PM |
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Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.
My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.
I am personally in favor of holding my investment whether it is in loss or profit I will not think of taking that profit before the target But this is in the case that I don't need the money that I have invested. However, if you invest money that you will need, then I think you should at least withdraw your investment when you are in profit.
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Peanutswar
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August 06, 2022, 12:58:46 PM |
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It depends on how you see the holdings of the crypto if your agenda is to make an earning every month or week the ideal thing to do is make a profit with those swing trades but if you want to make a trade for a long term of holding or within a year it is good if you ignore and stress to much your self, because your time frame is not on that thing, but most of the trader rides of the market volatility so they can keep profit while holding in a short time frame, for me i do with the long term because I'm not quite active right now in the market.
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Charles-Tim
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August 06, 2022, 12:59:36 PM |
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This depends on you. Just know that there can be another significant bull market after bitcoin halving. I will advice people to just buy and hold for like 3 years from now and make profit. Although, nobody knows what bitcoin price could be in the future, but it is more likely that history will repeat its self again. Holding for long would be my advice if you are able to.
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aysg76
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August 06, 2022, 01:12:55 PM |
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See if you are talking about your bitcoin portfolio specifically then holding it for long term will have potential profit scenario if you could wait for that time period.We have gone through crash situation recently and now there are some growth progress and if we say about next halving then we still have 1 year and 9 months for it and there are chances you will be up 30-40% on your initial investment till then.
But if you have made satisfactory profits after some time we enter the bull run you can do so like those who have sold last year at ATH around $68k invested at $50k also made good returns and see we are down from a long time.You see there are risk involved in your investment but if we seek long term then we can have profits but it's only for bitcoin not the shitcoins out there as in term of 2 years they could just vanish out of the market and you will see how Top-10 in CMC shuffle within this time range but bitcoin always at top.
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Z-tight
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August 06, 2022, 01:46:04 PM |
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Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?
We do not know the coin you bought, you kept on saying "crypto", and crypto stands for a lot of coins, some of which are created to scam people, some are coins that pump shortly, and dump eternally, and they are called altcoins generally, take profits with them if that is your "crypto" you talked about, they are coins that you are expected to take profits from in the short term. Holding long term is for bitcoin, that is if you can eat and take care of yourself well as you hold it, if no, take profits and do that.
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Apocollapse
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August 06, 2022, 02:27:24 PM |
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I do both.
I trust Bitcoin and believe it will reach at least one thousand on the next 4 years, but I wouldn't hold that long if the price already crossed $70K-$80K since I will sell some portion of my Bitcoin to enjoy some profit or using that to run a business.
Don't rely on people strategy, just do what you want, if you think you're need money, just convert it to fiat. No one will limit your decision, but you should learn it yourself.
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pooya87
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August 06, 2022, 02:31:07 PM |
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It depends on what you mean when you say "portfolio". In my experience if you are bag holding altcoins and calling it portfolio then you should take your profit (if you still have any profit) and get out. The only thing that has a solid long term potential is bitcoin and so far all the altcoins have been dumping against bitcoin. For example the biggest shitcoin called Ethereum has been dumped 60% against bitcoin in the past 4 years.
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AbuBhakar
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August 06, 2022, 02:32:57 PM |
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Always remember this. Always take profit when you are happy and never look back in case you take profit and price went up suddenly. Because we are all investing here to earn and not to catch all the possibility to earn because that will just make your judgement very poor when you are deciding on things like this. You can always re-enter on correction in case the price enter the bull run.
55% is already a huge profit and you should start to consider on what is your main goal to decide on what’s your next move.
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$crypto$
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August 06, 2022, 03:17:59 PM |
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It depends on what you want, whether to take profit so that the capital can return or hold it long term which will be much bigger in profit, it depends on the plan you want.
I myself prefer the long term by holding 2-3 years I see the prospect will be much better than ATH before this can be achieved again, although this is not because it's the first time so at first I also took advantage to return the capital so I think 55% is quite feasible to take.
It's actually a good scenario if you take both but I think it's your choice because the profits are already made.
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Beparanf
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August 06, 2022, 03:25:42 PM |
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You should determine first what’s your goal on trading. You should have this kind of mind set goal before you start trading so that you will not confused like this. Before you start buying any assets, You should identify already if you are buying this asset for long term, target price or short term only because no matter what is our suggestion, Your decision will matter most because there’s no specific answer to your question unless we know exactly what will the price for the next year.
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acroman08
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August 06, 2022, 03:41:44 PM |
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-snip
you won't really get a definitive answer here. different people have different ways of doing things when it comes to trading/investing. if I were you I would do what feels comfortable. for example, if it makes you comfortable taking some of your profit and then buying again when the price dip, then go for it.
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Cryptomultiplier
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August 06, 2022, 04:07:07 PM |
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The reason you started is what matters most. It is not advisable for anyone to venture into any investment without considering the time to cash out or reinvest. If one's reason is making profit as the market goes, I can say for a fact that there would be sleepless nights with lots of aspirin to swallow. For long term, only cash not needed at once should be invested so as to maintain composure and project for other future investments.
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Eureka_07
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August 06, 2022, 04:15:20 PM |
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<snip>
Before, I really prefer holding. But eventually, from the experience and also what I've seen with some of my colleague, I've turn my preference into taking profits instead of holding it a long time. Unless there is a good technical analysis for a token that supports it to be worth holding for, I will hold it. And if I thing that a project/coin does have a really bright future because of how and why it has been built.
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JamesDaniel90 (OP)
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August 06, 2022, 04:27:11 PM |
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The crypto I am talking about is Quant.
I started investing in Quant at £110 but bought 5 when it reached £40 In June which has helped me reduce my average buy now to only £62. It has just gone past the £100 mark for the first time in a while and looking strong but who knows how long this will last.
I think if it does keep on growing and I get to around 80% profit then I will take out my investment and just let the rest run for a few years and hope it reaches the levels people say it will.
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Amicable55
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August 06, 2022, 05:06:25 PM |
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It depends on how you see the holdings of the crypto if your agenda is to make an earning every month or week the ideal thing to do is make a profit with those swing trades but if you want to make a trade for a long term of holding or within a year it is good if you ignore and stress to much your self, because your time frame is not on that thing, but most of the trader rides of the market volatility so they can keep profit while holding in a short time frame, for me i do with the long term because I'm not quite active right now in the market.
Absolutely right, as long as you control your emotions you will gain much profit. But BTC is more trustworthy coin then another. If you choose short term trading then I'll suggest you that study about coin, buy for one or more days. Sell when you see reasonable profit. For example FTM/BTC touched a lower of 0.00000807 as and know running double.
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isaac_clarke22
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August 06, 2022, 05:38:40 PM |
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~
How did it go in the past weeks/days? You might get a little conclusion if you would try to invest into it in the long term or just take profits along the way. I am a Bitcoin holder though at the middle of my holdings I sometimes sell when I need an immediate money. Not really familiar with coin that you're talking about so just take my word with a grain of salt.
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cheezcarls
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August 06, 2022, 06:52:46 PM |
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Have been involved with Crypto 6 months now and my portfolio is now only 20% down due to this run we are currently going through.
My main position is 55% in profit and I have been debating if I should take some to then buy back lower when we experience our next crash.
Just wondering what everyone else does? Do you take profits along the way and if so at what point? Or do you just invest to hold long term?
When I first started 6 months ago I had the intention of just buying and waiting 2-3 years till our next bull run to cash out but lately I have been thinking if I can also make money along the way then that would be even better.
If we’re talking about Bitcoin, I wouldn’t mind holding it for long because I am doing DCA (dollar-cost averaging) with it. However, I would add Ethereum into my DCA later on when my monthly average income increases. However, if we’re talking about the other altcoins in the market, if you are into profit then I guess the best choice is to take profit to be sure that you win at least a little. Profit is profit anyways. However, it depends on you. We don’t make decisions for you but yourself, because it’s your money so your decision and responsibility.
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