Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: BonesAxe on September 22, 2018, 10:57:53 PM
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Just wondering if ya'll have a typical formula you go by or a certain X percentage profit or loss.
I've been playing around with coins for just under a month now. $23750 total investment and currently up just under 10k in profit. One of the coins (IOTA) has gone up about 288%. Obviously it would suck if it crashed but it would equally suck to sell if it continues to grow.
Just wondering what a lot of you folks do. I'm considering investing another 25 or 50k into coins. Ideally I'd like to net 15k a month off them but I know that may not be realistic on a monthly basis.
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if I personally always monitor prices and learn a little about the science of commerce.
If you want bitcoin, it will HOLD for a long time, to get a bigger profit, because in the past few years the price of bitcoin has also increased.
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I also don't know for sure. I have to sell the altcoin that I have, bro. but I always sell assets that I have. when the price has gone up and I have benefited even though it's only a little. because I always interact too short
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If you want to play it safe: sell your initial position in IOTA, if it's gone up considerably, take out what you put in basically and leave the profit.
You can then always re-invest at lower levels, which will happen if it's temporarily overbought (it sounds overbought at least).
Or you could sell 50% and book some profits, again with the opportunity to reinvest more later, or even diversify into other alts.
Finally, you can just HODL if you beleive you are clear of the bottom, but from experience it's a headache when assets double in price then correct 80% after that so your investment that was up 100% is then down 50% (*ahem* Ethereum).
At least by selling some profits to cover your investment you don't have to worry yourself about losing profit as it were.
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In crypto investing you have to know which coins are good and have the potential to be invested, you must also monitor crypto market so that you know the ups and downs of the coins you choose.
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In the stock market usually if a stock doubles you should sell it. But if I did that with crypto I'd still be kicking myself. I bought XRP at half a cent and sold at 2 cents. HUGE mistake. So just go with your gut I guess.
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It seems i don't know when is the time.
Otherwise i would have sold them on December or at least January.