Bitcoin Take Profit Strategies

[crwth]

Most of the time, I'm like the other members; I only sell when I need the money. It's definitely something that I have considered, knowing that I love HODLing BTC. This will definitely trigger some taxes and capital gains, so make sure you account for that.

When BTC was down over the last few months, I rebalanced my portfolio and DCA'd back into BTC. If I am 40% up, then I would probably take some profits.

[TheUltraElite]

100k is a bit on the higher side close to the last all yime high and hence will probably not reach anytime soon. A realistic level woule be 70k, 75k and 80k levels for now. If the prices start rising too quickly then you might want to boom profits at even higher levels like 100k. Indeed porifit booking is an important thing to recycle the money and keep the trading going on. This is again one part of the picture, the other one being buying at the low at multiple levels which ensures you get multiple levels to sell at in future.

I definitely do this whenever the market rising and falling accordingly sell or buyback. In stagnant markets we have to wait it out.

[New Judgement]

Everyone are free to do whatsoever they like that best serves their interest, so I wouldn't be that judgemental on other people's strategy, but the truth is that most people strategy is way too inferior, and that is why such people stay poor throughout their lifetime because they cannot invest and stick to their investment for it to be ready and for them to reap the full dividends of it.

Those that are able to invest in bitcoin and is strong enough to hold, will always be above those that buys and sell once their is a sharp increase in profit, because quick profit will only solve a pressing issue at hand, or will only satisfy their needs, but will not be big enough to change their financial story, which is the main reason investors makes more money and are more secure financially than traders.

This is just your opinion and it doesn’t make it the truth or what’s obtainable in practice. Who told you that those who takes profits at different levels along the way don’t make it big? And how did you come to conclusion that they use that immediate profits they are talking to solve their immediate needs? Don’t you think a good percentage of those traders reinvest that money in bitcoin when they see a good opportunity and expand their profits margin in the future? If they keep taking profits and some how keep reinvesting that profits taken over time, don’t you think they will end up having a biger portfolio in the future? Don’t underestimate the power gather profits little by little on a regular basis.

[danherbias07]

Wow! That could be a long time to wait before you reap your rewards. Well, it's a long-term investment, but it's good. Now, everyone has the patience to wait, but if you have a plan, then I think you should follow it.

I cannot really do that kind of regular monthly purchasing of Bitcoin because it will all depend on how I manage the budget for the house. There are times it could go wrong when an emergency happens, so it's good if you can do it, since I do believe that Bitcoin's movement will always be going upwards with long-term investments.

[Byebyebtc]

If your talking about investment in Bitcoin, it's not mainly about take profits it's your plan,

Investment in Bitcoin is not something that you will just set a take profit like you are trading or something, it requires growth, patience and plan before you can start taking your already accumulated and patiently waited profits

[Chilwell]

If your talking about investment in Bitcoin, it's not mainly about take profits it's your plan,

Investment in Bitcoin is not something that you will just set a take profit like you are trading or something, it requires growth, patience and plan before you can start taking your already accumulated and patiently waited profits

Most of the people that think this way are actually newbies, who just come to take profit as others are saying it. Bitcoin investment requires a lot of patience and also consistency in your accumulation, it also require a long time investment and that is when you will be able to realize what you have put in place for yourself. I don't know why some people are so eager to take money from their bitcoin investment, but sometimes I don't normally blame some of them simply because they did not follow the proper way of investment, in time of the fund they used and that is why majority could not be able to exercise patience for their investment to grow.

[Slow death]

One of my problem is that "I keep thinking it will go higher when it hits my target number". Perhaps, I should just exercise the action without the emotions involved (which is really what's holding me back for executing my strategy).

I trade, in my case on Binance, and I use 4-hour candles. So when I see a buying opportunity, I don't waste it; I buy and set a stop-loss so that if the price drops too much, I don't lose much, and I keep monitoring the price. Because I spend a lot of time looking at the chart, I've become accustomed to price movements and know where I can sell and take profit, and then wait for the price to drop so I can buy. I don't let emotions get in the way because I have very well-defined stop-losses. Of course, I see the profit monthly, and it's not large because there are months when the price doesn't move much. With this recent large increase, I profited, and I continue to let it rise further so I can sell. Now, speaking about the $100,000 mark:

I see that price as still achievable, but it will take a long time. Therefore, you should hold, something like buying and not selling until the price reaches $100,000 and see if it falls or not. It's possible the price will continue rising and reach $125,000, and you would profit much more. Ideally, sell when the price rises significantly and breaks your previous all-time high, because then there will be months or years of significant decline. It has been like this for many years.

[Creeper0]

$100,000 is definitely good, but my plan is not the same as yours. I am not planning to sell a certain percentage like you, but rather I will withdraw a large portion of my Bitcoin when it reaches $100k. There are some Bitcoins that were not part of my long-term investment, but due to unexpected market movements, some Bitcoins are trapped, since I did not need them and still do not, so I am waiting for a profitable point to sell.

I am not a trader like you, so I do not consider this a strategy. Rather, it is just a plan to sell some Bitcoins. However, the market may not reach that point very soon, we are still far away.

[Dreadboost]

Do you have a take-profit strategy, e.g. sell X% of your bitcoin stash when Bitcoin hits Y prices.  And do you accumulate Bitcoin on a monthly basis?

A long-term investor and a short-term investor have a profit target. My approach as a long-term investor is to take profit from Bitcoin make above 20% increase of the current price. I won't take profit below that percentage. 

As for accumulating Bitcoin every month, it's a slow way to meet my target. I buy Bitcoin weekly from the little I make. If I wait for the month before buying, I may not buy at all.

I've a simple one, which is to invest at regular intervals (monthly) and sell a certain percentage when it hits some prices.

Be more curious on buying at regular intervals than taking profit. If you keep thinking of how to take profit, the return of investment is going to be low.

[mirakal]

For now, since bitcoin price has not fully recover yet, I still focused more on DCAing bitcoin regularly. I buy bitcoin when there are market opportunities to buy, as long as there are sufficient, extra funds readily available. So I never have thought actually how and when to make profits in the future.

But one thing is certain,  I invested in bitcoin not just for future gains but also to back up my fiat, meaning if my fiat is running short, then bitcoin is my go to. Not necessarily that I have to sell the whole amount of bitcoin, but at least selling a portion of it will keep motivating me to grow my bitcoin portfolio from time to time. This is my personal plan how to sustain my bitcoin investment, selling sometimes but accumulating bitcoin through DCA most often.

[M47AK16]

Do you have a take-profit strategy, e.g. sell X% of your bitcoin stash when Bitcoin hits Y prices.  And do you accumulate Bitcoin on a monthly basis?

Just curious what are people's investing and take-profit strategy.

I've a simple one, which is to invest at regular intervals (monthly) and sell a certain percentage when it hits some prices.

For instance, the first sell point for me is 100k USD right now.

I believe everyone definitely had target on their bitcoin investment where they do expect the price to reach before even think of releasing something from that their investment. Is always better to hold bitcoin for longer time if you must target higher profit from your investment. There are people who only has a short term projection and immediately their target are met they don't mind also selling at the moment and wait back while the price falls back for them reaccumulate back again. Some people are just doing scalping and where they have to depends on every single changes in the market for them raise profits from their investment.

Yes I agree; in fact, I have absolutely no "sell when X happens" for my bitcoins. Have I ever sold? Of course I have, because I had to and needed money for an emergency, but that was never planned. For me, if I can help it, then I would never sell any of my bitcoins until I am so rich that I do not need money anymore. In that case, I would either sell my bitcoins for fiat, put it in something safe like a savings account, and live off that forever as a rich person's life.

And maybe not even sell, if by that time we reach a point in the world where we can live with bitcoin, and have like apps or cards or whatever where we pay with bitcoin, then I would not even sell my bitcoin by that time and I would just spend that. Selling bitcoin is not something I want, and I would never do that. I am not a trader, but even in trading, my goal is to make more bitcoin, not more fiat, if a trade gains me more bitcoin, that's a good trade, if it gains me more fiat, then it depends if it also means more bitcoin, by the time if I have more fiat but btc price went up and I can't buy more btc, then it's a bad trade.

[Botnake]

One of my problem is that "I keep thinking it will go higher when it hits my target number". Perhaps, I should just exercise the action without the emotions involved (which is really what's holding me back for executing my strategy).

This comes to one word. DISCIPLINE.

Have a plan, be disciplined, and follow that plan. If your plan is "Selling 50% of my total holdings if price reaches X" then whatever happens, whatever you feel during that time, do it. The problem with some is that, when it already hits their price target, they have this mindset of "it might go up even more so I'll keep holding". Trust me, I've been in that situation a few times, and it didn't end up pretty well for me, and I ended up losing some of those supposed profits already. Do it without any second doubts.

One of the traits of being a good investor is being disciplined. Being disciplined enough to follow their strategy when it comes to investing. I'm not saying that you don't need to follow what you feel, but if you already have a plan, follow that plan WHATEVER HAPPENS.

I think its normal for us to get emotional in terms of decision making. But if you stick with discipline, you will never go wrong with decision making. Because you won't sell when you will only end up as a loser, but you'll definitely sell only when you are sure you'll be profitable, that's how discipline works along with your set strategy.

Selling shouldn't compromise your future profits, but its how you keep up with your bitcoin to boost your drive and interest to never stop investing. Just take time to sell, but never stop accumulating bitcoin when there are good opportunities to buy.

[Alphakilo]

One of my problem is that "I keep thinking it will go higher when it hits my target number". Perhaps, I should just exercise the action without the emotions involved (which is really what's holding me back for executing my strategy).

This comes to one word. DISCIPLINE.

Have a plan, be disciplined, and follow that plan. If your plan is "Selling 50% of my total holdings if price reaches X" then whatever happens, whatever you feel during that time, do it. The problem with some is that, when it already hits their price target, they have this mindset of "it might go up even more so I'll keep holding". Trust me, I've been in that situation a few times, and it didn't end up pretty well for me, and I ended up losing some of those supposed profits already. Do it without any second doubts.

One of the traits of being a good investor is being disciplined. Being disciplined enough to follow their strategy when it comes to investing. I'm not saying that you don't need to follow what you feel, but if you already have a plan, follow that plan WHATEVER HAPPENS.

I think its normal for us to get emotional in terms of decision making. But if you stick with discipline, you will never go wrong with decision making. Because you won't sell when you will only end up as a loser, but you'll definitely sell only when you are sure you'll be profitable, that's how discipline works along with your set strategy.

Selling shouldn't compromise your future profits, but its how you keep up with your bitcoin to boost your drive and interest to never stop investing. Just take time to sell, but never stop accumulating bitcoin when there are good opportunities to buy.

As bad as some have lost faith in Microstrategy, they have taught a great lesson of knowing what priorities are and every retail investor looking to make profit from investment in Bitcoin, should learn to do same by knowing the duration they intend to hold Bitcoin, when it would be ripe to collect returns and the method that's most convenient for holding Bitcoin.
If this is sorted, taking profits won't be difficult with discipline and other risk management practices in place to ensure safety and timely execution with patience.

[NewRevelation]

If that is your strategy, then it is okay. Personally, i do not have a price ceiling, were i must sell when bitcoin gets to that price, i have never set such an "alarm". I sell part of my stash when i want to, that is when i have a need to sell, not just because the price is as a certain threshold, mind you, this is just how i do things and it may not resonate with others.

My reasoning is, i wouldn't take profit just to hodl fiat, that would be a stupid thing to do. I wouldn't also want to sell my bitcoins to hodl USDT, i don't like hodling stablecoins for the long term. In other words, i must have a use for the funds before selling, it could be personal needs or maybe i want to diversify into something else, these are some of the reasons why i liquidate when i do.

so what you are trying to say is that you will sell even when your portfolio is in dip provided you have needs to attend to? If yes are you not losing money? Why not be making some reserves so that when you have needs, and your bitcoin is in dip due to bad market conditions you won’t have to sell at a loss price just to attend to your needs. We all know that bitcoin price is not always stable, and there will times when your needs will come when the red candles are dominating the market, so I’m curious to know if you go ahead to sell to attend to those your  need or what exactly do you do in such cases, since you don’t like the idea of selling and holding fiat or holding usdt for too long.

Hahaha, good question and I would also love to hear from him directly. But this is what I think, probably just an assumption though.

No trader or investor would love to sell in loss, who does that? Unless for great fear and panic, feeling that you may loose all if you don't sell, else, you can't feel alright or comfortable while selling in a Dip period, especial Dips that are beloyyour entry point, no way. Of course, we understand that some Dip moments can still be higher than your entry point, and if you can't take the risk any more, you could sell and stull take some of the left over profits.

But to his cass, I think he does the withdrawal when he is in need probably only when he is in profit. This means that, if he is in need, and he sees his portfolio somewhat in a good position, he takes some off to handle his issues, probably not when it is in serious Dip, because that will only make him lose the more. But the main question now becomes, when he is need, and there is a Dip, even below his entry point, what will he do? Probably, if there is no way out, and it's necessary, he loses his money and his portfolio. I think creating an emergency funds would have been better off.

[Finebone]

This is just your opinion and it doesn’t make it the truth or what’s obtainable in practice. Who told you that those who takes profits at different levels along the way don’t make it big? And how did you come to conclusion that they use that immediate profits they are talking to solve their immediate needs? Don’t you think a good percentage of those traders reinvest that money in bitcoin when they see a good opportunity and expand their profits margin in the future? If they keep taking profits and some how keep reinvesting that profits taken over time, don’t you think they will end up having a biger portfolio in the future? Don’t underestimate the power gather profits little by little on a regular basis.

I don't expect you to agree with me or accept all I said on this matter, but truth be told or historically proven, those that were able to invest and stick to their investment by holding it very strong without sell so quickly were the one's that reap a handful of dividends from their investments.
The taking profits and reinvesting that you are talking about is more like trading whereby a single bad decision can wipe out all the profit they made. So you can still disagree with me on this, but it doesn't changes anything that got to do with reality that the holders are the real victors in this crypto industry.