Would you take profits and risk missing the moon?
A couple months ago ( January ) I was faced with a dilemma. We were in the middle of a major bull run, but i had promised my self I would pull 30% of my port when I hit X amount. I didnt want to pull as it seemed that the market had endless upside. Against my will I pulled the trigger and took out 30% and let the rest sit. Well lucky for me 2 weeks later the market went bust, and what I had sitting slowly dwindled by 50+ percent in the ensuing months.
Mid-March I figured well I could get back into my original positions at a fraction of the cost so again I pulled the trigger. Fast forward a month and we are again in a seemingly bullish market, and my port is approaching that exit mark.
My question for you all is this. Would you again pull a significant portion of your crypto into fiat, or would you stay in crypto and hope for the moon?
I would take profits. I have numbers set to take profits on the way to the moon too.
Think about how much easier it was on us during the bear than those that didn't take any profits during the run up.
My profit taking is in %s at different stages so that if we continue to run up, I still have some of my bag, but if we don't I can pay off some bills much faster than I would have otherwise.
Greed is the ultimate trap. The grass is always greener, the moon is always bigger.
I reckon you have a plan and this is for the sake of conversation anyways. Stck with the plan, buddy.
So very true, and I’m actually stuck on this one.
Last time was easier because I never had so much in my life. This time I feel like I can break those old highs so I’m stuck.
The best traders are disciplined and set rules for themselves,
Your rules didn’t let you down last time did they?
Did you hear about the guy who turned 2 BTC into 300 and then lost it all margin trading?
Yikes I did not. That is a mess
I have suffered from this many times over the past 7 years or so. I sold a portion of my btc at $13 as it had rocketed from $3 and much more recently, like you, I sold a portion during the final part of the bull run.
It’s easy to look back and say it was wrong as the price has continued to rise, but there really is no point in holding forever! At that time I needed the funds and i have bought back in several times, so overall I think I made the right decision!
if you miss the moon!
I would definitely pull out some profits. I invested recently in cryptos, but until we land on the moon the market will face many waves from which you can take this kind of profits.
Good points
As long as you're not so heavily invested that it will break you, shoot for the moon my friend. We all only get one chance at this life, so we might as well have a little fun and at least live near the edge. I know it is probably a different situation for you as you seem like somebody who does quite a bit of this for a living. In any case keep up the good work my dear friend. As always is good to hear from you. sending all of my love to you and all of yours until we meet again.
Hi @crypto2crypto . I am thinking the same as you. On January I did not pull the trigger, and lost the posibility to at least double my portfolio.
Today, I am on the same question. I want to sell around 20 to 30% of my entire portfolio, but the question is when.
For instance EOS is at $17 now. I am wondering what is the number that will make EOS holders to sell some. I want to do it at a good time, so when it goes down, I can recover the ones sold and get some more.
But the fact the mainnet will be launched in a month and that EOS is going up even not waiting for BTC, makes me think EOS may have a bull run to $30 or $40 before its launch, I don't know, just thinking in a loud voice.
Regards, @gold84
General Note: What I mention is Not Investing advice (Its just done for educational purposes), please do your own research.
Yea what’s funny is that Eos was on the list for me to sell. Then I backed out, and boom it takes off. Very very tricky
The problem is every time I promise myself to lock the X amount of profit but I forget everything during the bull season... this time will try to maintain
Good luck 😛
I can't really say without the knowing the actual coin. Even then I am sure there are better opinions than mine available on the net.
Mostly I am staying in for the long haul. Although a couple of my short positions are targeting mid-June or the desired price - whichever comes first. Personally I hoping for the moonshot :-)
Wide mix. So it would be 100% out of any position.
I would stay and hope for the moon. We stacked some Green days in a row so I am optimistic. More green days ahead.
Mostly with Steem. The commencement of trading on Houbi will be a great milestone with much rise.
What about risk of another drought?
Every investment option has its down time.
Things happen in the same basic pattern. Up, down and then back up
The situation in January was very different than today. That bull run was always unsustainable and everyone experienced serious profits across the board. Now the vast majority of sellers have sold.
If you look at the value of the crypto market a year ago in comparison to today and consider awareness as the main driving factor then a valuation of 250mln accross the board seems pretty damn close to bottom. I would not rule BTC touching 8k again or maybe worse depending on how the MT. GOX Trustee dispatches of his bitcoin. But the most likely scenario moving forward would be for those bitcoin to be sold in large wholesale or batch orders which should prevent any serious longterm price loss.
That being the case you need to decide where you see 2018 going. Take an account of all the information available and decide are people becoming more aware of crypto even today.
I agree this does feel very different, but we do still have a lot of the same bad actors in the space. Really could give us the business if not careful.