Altcoin profit - when is being greedy too greedy?

[uneng]

Yes, it's definitely a good idea to start cashing out your profits, since you have already made x40 profit. That is a lot of profit, even when compared to the profit made through BTC by the early investors from previous bull seasons. If you are so confident this altcoin is going to hit 15$ by the end of this bull run, you can keep holding some portion of them to see what happens. However, it's highly advisable that the largest part of your portfolio should be put for sale already, so you can guarantee the x40 profit made.

It doesn't make much sense to take high risk after high risk without enjoying the fruits after all. It's similar to the story of the addicted gambler who keeps betting, chasing losses, and even when he is successful on the process, he doesn't cashout, but keep pursuing higher and higher betting rewards, as to win was the final goal, while the final goal should be in fact to put the winning into good use.

[3la9l_kolbaCa]

I know taking profits is never a bad thing but could cost me a lot if this does continue to grow in price a lot over the next 6-12 months , that is my concern.

That's the risk on every investment, we need to sacrifice a lot of things particular with capital investment we had.
There's a lot of concerns not just you but for many traders including me. What I value nowadays is keeping my asset within control, don't easily dump when you see potential rise might soon take a big break.
Long term holding needs a lot of patience, eventually our undertakings will become successful once our goal is reached.

[lalabotax]

One of the temptations that often makes us regret it in the end is being greedy, especially for altcoins which are quite new and don't have a good and strong position in the market. I often do it, hoping it will go up again and again, but in reality it's the opposite. Greedy is one of the reasons I procrastinate taking profits even if it's only a few percentage points. In fact, you just leave it until in the end it becomes trash and the tokens are no longer valuable.

So, in my opinion, it doesn't matter if you still want to continue holding. However, in my opinion, at least you have to take profits first to return your capital in these coins. So in the future, if these coins continue to survive and the price is high, it will really be a bonus and reward for you. However, if it turns out to fail, at least you have returned your capital and didn't lose.

[kentrolla]

This is not being greedy but rather utilizing the bull run to the fullest because we often make the mistake of early cashout but yeah sometimes we end up missing out the peak assuming there's more surge to come and I have experienced both be it selling Bitcoin and $1000 or holding Altcoins when they were 50x in profit but didn't sell and ended up in loss during bear market. It's difficult to comment much on this topic.

[goaldigger]

This is not being greedy but rather utilizing the bull run to the fullest because we often make the mistake of early cashout but yeah sometimes we end up missing out the peak assuming there's more surge to come and I have experienced both be it selling Bitcoin and $1000 or holding Altcoins when they were 50x in profit but didn't sell and ended up in loss during bear market. It's difficult to comment much on this topic.

That could be true as we are all aiming to become more profitable and yes of course we have to be more aggressive during the bull market as we all know, we can have a better chance here to make profit and if you do have that money, then why not utilize it to the fullest. Either with Bitcoin or altcoins, you should have your target price always so you can know when to buy and sell, to secure the profit no matter what.

[Huppercase]

On the other hand I moved into my first house 6 months ago and the amount I can cash out now will help pay towards some of the work we want done to the house.

I have not been in this position before, it is my first bull run and this is the first investment that has given me 40x return so not sure what is best to do.

You see,  one of the reason why people make millions and lose millions the same market they made it, it's because they don't have experience. Statistics said it that people who make their first large amounts of money lose it carelessly and that's what you are doing.

If you have made such kind of profits, why not just the profit and reinvest the capital, a place where you made your first big money can make you more again if you put more effort into the things you put into consideration that help you in the process to win the first one. Take that profit and make use of it outside crypto, don't lose your money into shitcoins.

I am leaning towards cashing out half of the remaining amount I have left and then leaving the other half until the peak of the bull run but is that too much too cash out this early or is it the smart thing to do?

I know taking profits is never a bad thing but could cost me a lot if this does continue to grow in price a lot over the next 6-12 months , that is my concern.

You are looking at the only bright side of crypto and that's a good thing but it's because you made a good profits but I'm sure the story would have change if you made -50% from your investment. Just know that altcoin that give you profit can also take it, the 40x you made can vanish under 24 hours if bad things happen to the market, that's the bad side of investing in altcoins.

[StreakW]

In my opinion, taking some of the profits from altcoin investments is a good move when the price rises. it is an opportunity that cannot be missed because we don't know whether the price will continue to rise or even when it will reach its peak. Therefore, while the price is rising and it is profitable, take the opportunity to make a profit.

[Reatim]

On the other hand I moved into my first house 6 months ago and the amount I can cash out now will help pay towards some of the work we want done to the house.

I have not been in this position before, it is my first bull run and this is the first investment that has given me 40x return so not sure what is best to do.

You see,  one of the reason why people make millions and lose millions the same market they made it, it's because they don't have experience. Statistics said it that people who make their first large amounts of money lose it carelessly and that's what you are doing.

People with their first large amount of money tend to be overconfident and over enthusiastic. They forget all cautiousness and start diving into different things. Buying everything and investing on anything without any hesitation because they feel as if their money is endless.

Learn to step back and keep studying to improve financial decisions.

[livingfree]

In my opinion, taking some of the profits from altcoin investments is a good move when the price rises. it is an opportunity that cannot be missed because we don't know whether the price will continue to rise or even when it will reach its peak. Therefore, while the price is rising and it is profitable, take the opportunity to make a profit.

That's what the majority is doing.

Those that can't dispose their altcoins and turn them into profit are holding it for their own purposes. Maybe the profit isn't enough for them to cover.

Or, they've got some other better plan that's being on its way as they hold it. But if you ask me, as long as you're happy and you're in profit, please do.

You might not see those opportunities to come again as the market is very different with altcoins than of Bitcoin.

[JamesDaniel90]

Since posting this thread 3 weeks ago Arcblock like most other altcoins has been falling.

It fell from £3.72 all the way down to £1.85 a few days ago but has now recovered slightly and price is £2.50.

I am not sure what has caused altcoins to crash last few weeks but hopefully they will recover soon or at least go sideways for a bit and then start going up again in a few weeks.

After watching these altcoins crash over the last few weeks it has made me realise they can fall just as quick as they pump so I will take more profit out soon when it gets close to £3 again.

[livingfree]

Since posting this thread 3 weeks ago Arcblock like most other altcoins has been falling.

It fell from £3.72 all the way down to £1.85 a few days ago but has now recovered slightly and price is £2.50.

You should have sold already on that high and then bought when it fell.

I am not sure what has caused altcoins to crash last few weeks but hopefully they will recover soon or at least go sideways for a bit and then start going up again in a few weeks.

Most likely it is because of Bitcoin. When Bitcoin doesn't move a lot and instead it's moving down, then alts like the ones you're holding are also affected.

After watching these altcoins crash over the last few weeks it has made me realise they can fall just as quick as they pump so I will take more profit out soon when it gets close to £3 again.

Absolutely, that's why you need to secure your profits.

[Godday]

In my opinion, taking some of the profits from altcoin investments is a good move when the price rises. it is an opportunity that cannot be missed because we don't know whether the price will continue to rise or even when it will reach its peak. Therefore, while the price is rising and it is profitable, take the opportunity to make a profit.

That's what the majority is doing.

Those that can't dispose their altcoins and turn them into profit are holding it for their own purposes. Maybe the profit isn't enough for them to cover.

Or, they've got some other better plan that's being on its way as they hold it. But if you ask me, as long as you're happy and you're in profit, please do.

You might not see those opportunities to come again as the market is very different with altcoins than of Bitcoin.

I also suggest that if you have made a profit from an altcoin, whether it is 10 or 20 percent, then it is better for you to take the profit and not try to hold it any longer. The altcoin market is very risky and when the price has been pumped up there is a possibility that the price will fall again as has happened with the Manta project.

[JamesDaniel90]

In my opinion, taking some of the profits from altcoin investments is a good move when the price rises. it is an opportunity that cannot be missed because we don't know whether the price will continue to rise or even when it will reach its peak. Therefore, while the price is rising and it is profitable, take the opportunity to make a profit.

That's what the majority is doing.

Those that can't dispose their altcoins and turn them into profit are holding it for their own purposes. Maybe the profit isn't enough for them to cover.

Or, they've got some other better plan that's being on its way as they hold it. But if you ask me, as long as you're happy and you're in profit, please do.

You might not see those opportunities to come again as the market is very different with altcoins than of Bitcoin.

I also suggest that if you have made a profit from an altcoin, whether it is 10 or 20 percent, then it is better for you to take the profit and not try to hold it any longer. The altcoin market is very risky and when the price has been pumped up there is a possibility that the price will fall again as has happened with the Manta project.

10 or 20% is nothing - I want at least 500% return in the altcoins I am holding and that is possible considering we still have plenty of time left of this bull run including alt season when altcoins go up 50% or more each day.

[livingfree]

That's what the majority is doing.

Those that can't dispose their altcoins and turn them into profit are holding it for their own purposes. Maybe the profit isn't enough for them to cover.

Or, they've got some other better plan that's being on its way as they hold it. But if you ask me, as long as you're happy and you're in profit, please do.

You might not see those opportunities to come again as the market is very different with altcoins than of Bitcoin.

I also suggest that if you have made a profit from an altcoin, whether it is 10 or 20 percent, then it is better for you to take the profit and not try to hold it any longer. The altcoin market is very risky and when the price has been pumped up there is a possibility that the price will fall again as has happened with the Manta project.

I agree 100%.

I've learned a lot from my past that as long as you're able to gain, reward yourself by taking it. The market is unpredictable and you'll never know when that time shall come to you and be rewarded again.

So, if the price falls and you sell at almost lesser profit or loss then it's your fault. And when that time comes, I'm sure that you'll get to learn that as well and won't become greedy anymore.

We have to get stomped before we learn things, right?

[JamesDaniel90]

The price of Arcblock is currently £2.36 which is still a 26x for me.

Many would probably think that is enough to completely be out of the trade but to me I just feel we have a lot of the bull run still to go and the price will go a lot higher during the eupohria stage of the bull run when alt coins go up a lot faster.

The price has seen £3.72 already a few weeks ago, I last sold some at £3.34.

I just constantly have in my head thoughts of selling too soon, I feel i will be more gutted if i sell all at current prices and then see it go up to around £10-15 later this year than i would be if i don't sell more now and it goes to zero.

[Sebas.tian]

If you know that the price of the token will going to increase higher in the nearest future, you can trade the half of the tokens to achieve income to solve some challenges that is affecting you, and continue holding the remaining tokens for the massive bullish season to come before you can trade to take huge amount of income. But don't forget that tokens price, don't use to increase higher like Bitcoin and Ethereum which you need to take income once the price hit higher in the market, because they can disappear sometimes to cause their holders regret for not release the tokens on time. Never you be greedy during the bullies season not to trade whenever you see majority of traders trading their coins, because altcoins bullish season don't use to live long like Bitcoin bullish season.

[ultrloa]

If you know that the price of the token will going to increase higher in the nearest future, you can trade the half of the tokens to achieve income to solve some challenges that is affecting you, and continue holding the remaining tokens for the massive bullish season to come before you can trade to take huge amount of income. But don't forget that tokens price, don't use to increase higher like Bitcoin and Ethereum which you need to take income once the price hit higher in the market, because they can disappear sometimes to cause their holders regret for not release the tokens on time. Never you be greedy during the bullies season not to trade whenever you see majority of traders trading their coins, because altcoins bullish season don't use to live long like Bitcoin bullish season.

Well that's other option we can choose if we are risk taker and can afford to lose those remaining profit used. But for people who's not sure and think about everything is unpredictable then they should not doubt any good decision especially for taking their profit at whatever figure it is. Since there are sudden down turns on the market and for sure that those people will regret their decision upon not selling so don't think twice to take your profit since as long as you are bullish then everything is in good place for you. You can start over again, but if you became so greedy then provably that there would be an instances that you will ride up with those people getting in panic then praying for recovery before you sell. So for us not to come in that situation we should know how to settle up and think about profit at whatever figure is good already rather than chasing our loses from unfortunate events that might happen on the market.

[el kaka22]

When you see the peak, do not sell, and it starts to go down. That is literally the definition of it because you got too greedy to sell when you should and dreamed of even bigger profits and because of that you kept holding and you lost money because of that. I am not saying that you should not be doing it, you should definitely keep asking for more, but you should be smart enough to get out when you could as well.

It is quite obvious that we are going to make as much money as we can with what we have, and nothing would change that, it is just as clear as day. I believe that we need to make sure that we know what we are doing, and if we can do that then we are going to be doing fine. Just try to get out when you should, and you will be okay.