What is your profit taking strategy?

[JamesDaniel90]

I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.

I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

Just wondering what everyone else does when it comes to taking profits?

[mk4]

Bitcoin/Ethereum: Pretty much long-term holds. Not taking out money unless I really need to.

Everything else: Sell when the hype dies down, or when the token reaches fair value. Might take the risk and hold for longer if in an explosive bull run.

[Crypt0Gore]

It depends on how strong the altcoin project is OP, if you already make 2x you can take profit and leave the rest for the next bull run, but this is not my strategy, I don't like selling coins in a bear market because its not a good time to sell but a good time to buy instead, I have alts that are currently at 5x but I don't sell, they have good potential that's why I don't bother to take any profit at the moment.

[JamesDaniel90]

It depends on how strong the altcoin project is OP, if you already make 2x you can take profit and leave the rest for the next bull run, but this is not my strategy, I don't like selling coins in a bear market because its not a good time to sell but a good time to buy instead, I have alts that are currently at 5x but I don't sell, they have good potential that's why I don't bother to take any profit at the moment.

That is brave 5x and not taking any profit.

I suppose it depends on the altcoin. The two that I took profit on at 2x are both micro caps so big risk, not sure if they will even make it till the bull run next year so thought I would play it safe and take out my investment.

[cryptoaddictchie]

Just wondering what everyone else does when it comes to taking profits?

Ive failed on taking much profit last bull run so my goal now is typically hold my major alts and btc and stake some of my stakeable asset while waiting for target price to sell. Its really a hard discipline if you are a long term holder, but I am sometimes cashing out my asset if I need some extra funds for my leisure and trips. Or if needed emergency money.

[pawanjain]

I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.

I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

Just wondering what everyone else does when it comes to taking profits?

I have made many mistakes myself by not taking out the profits while it lasted.
Trusting a project deeply is one thing and taking out the profits on regular basis is another thing.
I think other than bitcoin and ethereum all other projects are those where we should take out the profits on regular basis.
For bitcoin and ethereum it can be a good thing to hold for long term.

[Pandu Geddon]

Just wondering what everyone else does when it comes to taking profits?

most investors hold onto their assets for a long time. although some of the benefits are already visible in front of the eye. but long term investors have their plans.
if you are new to holding your assets. and the profit you get is enough, you can get out of your investment and wait again to be able to enter when the market is a dump. but if you want to wait longer for the bull to come in the future, you can calmly hold it.
you determine how strong you hold and how much profit you want to get

[Lucius]

~snip~
Just wondering what everyone else does when it comes to taking profits?

Who says we all have the same goal? I'm not saying that I wasn't once in your shoes, but the whole point is not that you only care about profit, but that you sometimes try to use Bitcoin as a currency - there are certainly some things that you could buy/pay for online.

If you only want to make a profit then try to play it safe, buy during a bear market, start selling when we are in the middle of a big bull run and keep doing it as the price rises. There is no other great wisdom in all this, because it all boils down to how consistent you are and how well you know how to judge the moment, and of course whether you can control your greed.

[Rikafip]

I used to have (or at least I thought that I had) a profit staking strategy but then I realized that every time bitcoin would reach my set price, I would sell only a small portion of what I initially planned and just kept hodling the rest while waiting for another bull run. So far this tactic worked great and I have way more bitcoin that I thought I would several years ago.

With that being said, I do spend bitcoin on the regular basis on everyday stuff (monthly sub for VPN, IPTV, Netflix, Disney etc - some are done directly with bitcoin and some via crypto debit card) and I try to time big expenses when (house renovation, new car etc) I think that bitcoin price is high enough.

[Woodie]

This profit taking process by hodlers and traders kind of gets mixed up causing confusion... But how I see this hodlers simply have to buy and forget and it should be stated that this process is long term before you get to see some real returns on investment, while the process for traders is more aggressive as their returns is much more faster, bigger and risk is higher as there is an element of losing money should price go against what we anticipated.

Btw getting a 2x return as a hodler takes forever while going the traders route a 2x or 3x is super easy to attain.. It's all about the risk appetite.

[freedomgo]

I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.

I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

Just wondering what everyone else does when it comes to taking profits?

If you want to take decent amount of profits, then prepare to hold your coins for long term, most especially for bitcoin and ethereum as they are the most profitable coins in the crypto market. However, selling when you start seeing the price has been doubled is not bad, but you can make bigger profits instead if you take more time to hold and only sell them when you need them the most, or when you think the profits are big enough for you. In the end, you still hold the final decision when to sell your coins.

[JamesBorn]

I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.

I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

Just wondering what everyone else does when it comes to taking profits?

That's depends on individuals trading priorities, some people target at every single pump, some target long term pump so even when is dropping they don't panic. Some even trade as daily income project, they check it every single seconds like soup. But the most important thing is to be accurate with analysis, so that's you will the bearing and bulling direction, how long it will stay dropping or going up, you quickly take profit when its pumps and is about dropping. Then you for it again when it dropping to some resistance of pumping again you buy or invest as the case may be, so it all bolls to individual game of trading.

For me once it has exceed my capital and good take, am good to go

[JoyMarsha]

My past experiences have taught me not to wait for more than x2 profits on my crypto investment before I can withdraw my altcoin profits. To prevent what occurred to me in the past from happening again(losing my altcoins since I was hoping for the market to increase as forecasted by cryptocurrency influencers).

Nowadays I do sell off all of my altcoins that I have no matter what, apart from bitcoin. Am not ready to be risking it by waiting for the price of altcoins I hodl in my portfolio to skyrocket more before I could sell.

[yhiaali3]

Of course, this differs from one trader to another, some of them set a distant goal and do not take their profits except when the goal is achieved, and others are satisfied with a few profits.

For me, I prefer to take my profits quickly (except for Bitcoin), through my trading experience for several years, I learned that taking profits is the best way, many times I do not take my profits immediately and then regret it later.

But the matter with Bitcoin is different because it depends on Hold in the long run.

[Frankolala]

I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.

I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

Just wondering what everyone else does when it comes to taking profits?

My profit making strategy is that,I sell when the price hits the bull market or at my target price as long as it is more than what I bought, if it is important for me to sell.

The best time to sell is when bitcoin price hits ATH,but for you to achieve this,you have to be patient and hold for long without panic. Some of those altcoins are not to be trusted but there are still good altcoins, ethereum is doing good in the market.

[pixie85]

I can tell you what my strategy used to be.

Once I realized most altcoins were going to only cost me money, I turned to bitcoin. I bought some and caught the 2017 rally. It went so fast that I didn't even think about withdrawing at 2x, I let it roll. At 10x I withdrew my first investment and let the rest grow. At 12x I withdrew 10% and another 10% at 15x. I held the rest of my bitcoin all the way down from 20 to 3000 and I still have it.

I later spent some of that sold 20% to buy ETH when it crashed to $300. I also bought ADA in 2019. In 2022 I didn't touch my bitcoin at all, I sold only some of the coins saved up from signature campaigns and half om my ETH. That gave me enough money to be set for years without being forced to sell my bitcoin investment.

I plan to maybe sell some bitcoin when it breaks 100 thousand dollars and another part at 200 thousand. I have enough money and enough time now to be slow and steady with my bitcoin.

[Fara Chan]

Not all Altcoins are the same, and it really depends on the Altcoin of choice, the problem when using Altcoins to get profits in the short term really depends on someone's choice, there are Altcoins that have good quality to get results, and vice versa, there are many projects in the market, thus determining the choice of someone who wants to make short-term investments.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

It depends on your main target in investing, do you want to get results of 2x or more, but what we know is that most who invest in Altcoins they take from every profit they get not only based on how many multiples are produced, but there are also those who are waiting for the price to 3x to 5x to take advantage of the return on their investment assets. Apart from all this, it also really depends on the chosen Altcoin, some of them determine the target, and some determine the multiple, depending on the person and their goals.

[hatshepsut93]

My strategy is to sell when there's a huge bull market that comes after the halvening, and I do it when it's clear that the market is very hot but starts running out of momentum. So selling now would be bad, because this is a small bull market that can go unpredictably.

And I never sell all my coins, I only take out enough to diversify my portfolio or achieve some goals. The rest are there for the long run. I also plan to reinvest some of my future Bitcoin gains back into Bitcoin when it will crash after the big bull run.

[Jatiluhung]

because it's in altcoins so I think even 2x is decent enough to take profits. considering the risks that await are indeed greater. but back to the fundamentals and potential that you have seen in the altcoin project.

But personally, if it's an altcoin, I will take my capital first. and leave the rest if the altcoin project still looks to have higher upside potential. and then sell everything when the hype dies down.

[BlackBoss_]

I have only been in crypto 14 months and it is only in the last 3 or 4 weeks with Bitcoin pumping that I have seen some profits.

If you need money for spending things in life, you can take profit with part of your Bitcoin and use it. If you don't need money, don't take profit, Bitcoin is still in a bear market and you will have higher price to take profit in 2024. If you can wait, wait one more year and take profit.

I took out my initial investment in two of the altcoins I hold once they 2x so now have free money in them that I am hoping will see some good returns in the next bull run.

It got me thinking what is the best way to take profits and if taking out my investment at 2x was a clever move or if I did so too early?

With altcoins, it depends on what are altcoins you own now.

If you own Ethereum and BNB, you can treat them like Bitcoin.
If you own other altcoins (not ETH and BNB), treat them differently and if you already saw like 2x profit, take profit immediately and don't touch them in next 5 to 6 months. Those shit coins will be dumped soon.