What about your exit Plan ?

[ZAINmalik75]

I like the way you explained but buddy you still have not shared from which point of the price you will start to book your profit, indeed you will not book all at once. You may have a strong plan that can be DCA haha, so that you can book at different prices out of the market. Well, as for my part, I was having a discussion about booking profit from the market a couple of weeks ago where me and he discussed that we should start booking from $90k price. Besides this, it all depends on the market situation at that time maybe I will start to book from the price of $100k.

If BTC made it to $90k to $100k I will book 50% to 80%. But If I see BTC still has the power to gain more price then I will change my selling percentage and will make it less. Around %40 to %60. To be honest if I see BTC has not enough fuel left to reach $100k and more then I will book all of my profit.

on the other hand, this is my first bull season in the crypto sector and it's been almost two years in the crypto industry of mine I have learned a lot and honestly I am still learning. Well about the price you aforementioned being optimistic if this gonna hit in this bull cycle then it will be great for all of us here.

You have a huge experience because in 2 years people with a dedicated mindset achieve great things. I have seen people learning new skills like trading, project management, etc. Trading is not that difficult people understand it in less than 1 year by devoting their time and with the proper mindset

[Hamza2424]

You have a huge experience because in 2 years people with a dedicated mindset achieve great things. I have seen people learning new skills like trading, project management, etc. Trading is not that difficult people understand it in less than 1 year by devoting their time and with the proper mindset

HAha 2 years, naah I dont consider 2 years a great time to learn most things, as you know a person who starts everything on his own, spends most of the time in the wrong direction, as he's not clear with what to learn first and what to try first, so in finding a direction he spends most of his time as if a person has a mentor who is much experienced, there's a slight chance that he's gonna achieve great things in less time. I've been here a long time at least around 4 years+ still learning about the direction.

[$crypto$]

You have a huge experience because in 2 years people with a dedicated mindset achieve great things. I have seen people learning new skills like trading, project management, etc. Trading is not that difficult people understand it in less than 1 year by devoting their time and with the proper mindset

HAha 2 years, naah I dont consider 2 years a great time to learn most things, as you know a person who starts everything on his own, spends most of the time in the wrong direction, as he's not clear with what to learn first and what to try first, so in finding a direction he spends most of his time as if a person has a mentor who is much experienced, there's a slight chance that he's gonna achieve great things in less time. I've been here a long time at least around 4 years+ still learning about the direction.

I personally cannot determine how many years we can study this because I feel that as time goes by, there is still something that is missed. So rather than talking about time, I think it is better for us to continue learning and repeating what we have learned in the beginning, because sometimes we also forget even though we used to understand and even experience it.

This is not a matter of time in my opinion, but it is a matter of will. Will we continue to learn or be quickly satisfied with what we know.

[Roseline492]

You have a huge experience because in 2 years people with a dedicated mindset achieve great things. I have seen people learning new skills like trading, project management, etc. Trading is not that difficult people understand it in less than 1 year by devoting their time and with the proper mindset

I totally understand your point but you should also understand that there is a huge difference between project management and trading however as the matter of fact project management is very easy that you can acquire it within the space of two to three months because is one of the skills that's very easy and doesn't take much of a time to learn.

but when we talk about trading there is no way you can acquire the knowledge within that period because is too complex and even if you learn it for two years there is no guarantee that you will understand everything because I have seen so many experienced traders who have been on trading for more than ten years but still they cannot call themselves a professional traders because you would only call yourself a professional when you are no longer losing trades, so actually you can learn within two years but cannot really have the kind of confident other people who have been into trading for long will have.

[snowpega]

You have a huge experience because in 2 years people with a dedicated mindset achieve great things. I have seen people learning new skills like trading, project management, etc. Trading is not that difficult people understand it in less than 1 year by devoting their time and with the proper mindset

HAha 2 years, naah I dont consider 2 years a great time to learn most things, as you know a person who starts everything on his own, spends most of the time in the wrong direction, as he's not clear with what to learn first and what to try first, so in finding a direction he spends most of his time as if a person has a mentor who is much experienced, there's a slight chance that he's gonna achieve great things in less time. I've been here a long time at least around 4 years+ still learning about the direction.

No one can gain all the knowledge of this world and I believe that one who says I have all the knowledge even if he/she referring to any sector/spcae is just like a sparrow who just sips a drink of water from the big sea and the left water is an example of the knowledge he/she still doesn't have. So, that is why we always stay in the learning phase and I also mentioned in my previous post that I am still learning.

But here you mentioned one good thing that mentorship which is really a great fact that one can enhance his/her learning phase if he/she is under good mentorship. Well, I have seen some successful person who gets success under good mentorship and they are enjoying their life. Other than that I am still observing many things from many points of view, I get some ideas while writing posts and this thing really helps me to enhance my knowledge about the crypto space.

[Hamza2424]

No one can gain all the knowledge of this world and I believe that one who says I have all the knowledge even if he/she referring to any sector/spcae is just like a sparrow who just sips a drink of water from the big sea and the left water is an example of the knowledge he/she still doesn't have. So, that is why we always stay in the learning phase and I also mentioned in my previous post that I am still learning.

Haha, I cant understand who is this "one who", buddy I'm sure there's no one that arrogant to use such words, in the above discussion we were talking about basic information processing, learning, and finding our own's direction. No one can stay in learning lessons or no one can choose to be a learner because here in life from birth to death there's no other option, on every instant you learn things and on the basis of that learning to spend your life.

TBH that was an odd line for me.

[SmartGold01]

To be honest, I haven't thought about DCA selling because seeing that the market conditions haven't fully entered the bullish season, I will plan to sell once the bitcoin price reaches ATH again.
 If you bought in 2018 and are still holding, now you have got a lot of benefits.  It is the result of your patience.
 I don't do that because I only follow the 4 year cycle and will sell everything during the top bullish season and buy it again during the bearish season.
 Maybe we have different strategies, but everyone has their own considerations and sales targets.
 I would also hold long term if I had free funds for the next 10 years, unfortunately I still have the desire to invest in the real world.

Determination and patient is what mostly needed to drive the market because some people may not have that patient to hold even though they does they required additional funds like a kind of multiple stream of income to be able to hold otherwise, if no other source of funds and totally relying on their bitcoin investment immediately bitcoin creates new ATH they would be pushed to sell without holding till their required moment like years they felt like holding. One major thing that threatens investment mostly is not having multiple streams of income like only relying on the profits from Bitcoin whenever emergency comes out they could be pushed to immediately sell off without any further patient.

On the moment that you do step your foot into this market then it would really be that suggested or recommended because if you've been really that too positive towards things and you've been really that anticipating that you would really be that profitable then on the moment that the market will really be having those corrections then it would really be making youself that impulsive
on which you would really be losing yourself into the plans that you had made out earlier. It would really be always important that you should really having those exit plans
and securing profits.

Of course every trader always thinks of the exit plan when they sees that market is no longer favorable since they noticed that they are running on lost or something like not that stable anymore, exit plans shows that the person has come to understand the market more better for keep such exit plan than trading blindingly and losing profits.

[ZAINmalik75]

HAha 2 years, naah I dont consider 2 years a great time to learn most things, as you know a person who starts everything on his own, spends most of the time in the wrong direction, as he's not clear with what to learn first and what to try first, so in finding a direction he spends most of his time as if a person has a mentor who is much experienced, there's a slight chance that he's gonna achieve great things in less time. I've been here a long time at least around 4 years+ still learning about the direction.

You spent 4 years still figuring out the direction then I suggest you find a mentor. After finding a mentor we all try to find mistakes and errors they are making in conveying their words too. I misjudged many people because they were not good at conveying their message and I take their words as lies and bluff but many people even the mentors are not good at everything.

I saw people start trading in less than 6 months and making more profit then a person is making without a mentor and learning on their own. Mentors are not necessary but we must have a community from where we can learn some specific skills like trading, managing a community for projects etc.

[KingsDen]

Are you aware that someone people doesn't have an exit plan? They plan to HODL for life, LOL.
Maybe their exit plan is when it is said there's nothing bitcoin again.
These men keep buying and buying,
When there's low he will buy the more and wait when bitcoin will worth $1m, but before then, there's no exit plans

[bitterguy28]

Are you aware that someone people doesn't have an exit plan? They plan to HODL for life, LOL.

there are those who hold no matter what even if bitcoin goes up or down they will continue to hold while some may have less determination than that sometimes they will take out the funds when it’s already high enough for them and put it back again when the price is cheap

These men keep buying and buying,
When there's low he will buy the more and wait when bitcoin will worth $1m, but before then, there's no exit plans

well for as long as there is bitcoin and it gains value, i see no reason for us to not keep buying people who cannot afford a lot of bitcoin will do it in little amounts instead all throughout their lifetime

the good thing about bitcoin is no matter how volatile it is, it does not die which is why most of the time no one has exit plans especially if they plan to hold

[bhadz]

You haven't asked when I started holding that. But to give you an example, if someone has been holding since the bear market of 2018 or $3k per bitcoin.
That's more than 3x-5x already if those bitcoins that are being held is still there until today. I agree the DCA way of selling as way, everyone can do that as we please.

To be honest, I haven't thought about DCA selling because seeing that the market conditions haven't fully entered the bullish season, I will plan to sell once the bitcoin price reaches ATH again.
 If you bought in 2018 and are still holding, now you have got a lot of benefits.  It is the result of your patience.
 I don't do that because I only follow the 4 year cycle and will sell everything during the top bullish season and buy it again during the bearish season.
 Maybe we have different strategies, but everyone has their own considerations and sales targets.
 I would also hold long term if I had free funds for the next 10 years, unfortunately I still have the desire to invest in the real world.

It's okay whichever strategy you'd do when you're about to sell. Whether you sell in bulk or portions, it doesn't matter because what matters is that we're able to make profit from holding. And I'd agree with you that if I am able to hold longer, I'd keep some as my retirement fund.

You haven't asked when I started holding that. But to give you an example, if someone has been holding since the bear market of 2018 or $3k per bitcoin.
That's more than 3x-5x already if those bitcoins that are being held is still there until today. I agree the DCA way of selling as way, everyone can do that as we please.

The earlier one has bought Bitcoin the more he will be profitable as the current price is much higher as compared to the past price therefore it is obvious that the holders who have held it for years will have made more profit as compared to those who are newbies.

In 2018 the price was not higher but in current year new ATH worth has been attained due to which people have targeted higher value for selling Bitcoin. With passing years the price of bitcoin increases therefore it can be said that the more you hold the more profit you will get which implies to the fact that duration of holding also matters a lot.

Yes, and that's obvious that the more BTCs we hold, the more profit we get and it's profitable for each of us that have held it when it was cheaper. That's why duration and how diamond your hands are is very important if you have long term plans.

[ZAINmalik75]

No one can gain all the knowledge of this world and I believe that one who says I have all the knowledge even if he/she referring to any sector/spcae is just like a sparrow who just sips a drink of water from the big sea and the left water is an example of the knowledge he/she still doesn't have. So, that is why we always stay in the learning phase and I also mentioned in my previous post that I am still learning.

You should change your mindset because you cannot gain all the knowledge of this world but you can gain all knowledge of a single field that you will choose like trading you can learn trading from scratch and in a few months you can master it if you are smart enough. If you are not smart and a slow learner then you have to spend more time. There are learners who says they can't get all the knowledge while there are other learners who have more knowledge because they learned more. In your words, their appetite was bigger so they drank more water from the sea. You have to make your appetite strong and that's why I said with devotion last time.

But here you mentioned one good thing that mentorship which is really a great fact that one can enhance his/her learning phase if he/she is under good mentorship. Well, I have seen some successful person who gets success under good mentorship and they are enjoying their life. Other than that I am still observing many things from many points of view, I get some ideas while writing posts and this thing really helps me to enhance my knowledge about the crypto space.

There are unsuccessful people too who fail under the same mentorship while other people succeed. The secret is not mentorship but believing in yourself and not making excuses that we can't do that because we can't gain all the knowledge of this world. We should learn daily and more and a day will come when there will be nothing to learn more but new techniques that you will make and others will learn.

[Jamal Aezaz]

Yes, and that's obvious that the more BTCs we hold, the more profit we get and it's profitable for each of us that have held it when it was cheaper. That's why duration and how diamond your hands are is very important if you have long term plans.

Most of the people are familiar with Bitcoin investment and they can easily know about the price that when to buy and when to sell so all of those who buy Bitcoin by applying the DCA method will be in profit. There is no specific timing to buy Bitcoin but if a person has money and the price is also reasonable then one can invest if he has excessive knowledge about Bitcoin.

Planning for each and everything is very important and those who buy Bitcoin but have no idea that when to sell it cannot become aware of the fact that how profitable is the Bitcoin investment but due to their mistake they did not get revenue.

[ZAINmalik75]

I totally understand your point but you should also understand that there is a huge difference between project management and trading however as the matter of fact project management is very easy that you can acquire it within the space of two to three months because is one of the skills that's very easy and doesn't take much of a time to learn.

but when we talk about trading there is no way you can acquire the knowledge within that period because is too complex and even if you learn it for two years there is no guarantee that you will understand everything because I have seen so many experienced traders who have been on trading for more than ten years but still they cannot call themselves a professional traders because you would only call yourself a professional when you are no longer losing trades, so actually you can learn within two years but cannot really have the kind of confident other people who have been into trading for long will have.

A professional trader also loses money while trading because in trading two things are profit and loss. I agree with your all statements but a professional trader does not mean he is making all the trades in profits. He can also make a loss but the loss can be lower than what newbies are making.

I agree with your statement that trading can't be learned in 2 years even but in 2 years if a person dedicates himself to learning all the basics to advance skills for trading then he will become professional enough to make more profit. 2 Years that snow has spent can be of great benefit if he used it to learn one thing at a time and become professional in it.

[pieppiep]

Are you aware that someone people doesn't have an exit plan? They plan to HODL for life, LOL.
Maybe their exit plan is when it is said there's nothing bitcoin again.
These men keep buying and buying,
When there's low he will buy the more and wait when bitcoin will worth $1m, but before then, there's no exit plans

Those who do not have a plan to get out of this unstable market condition, then their financial condition is quite good. They have daily income from their jobs so that their mindset is that cryptocurrency is used as a place for long-term investment and prefer to keep their assets in the exchange place no matter what happens.

We need to realize that everyone's financial condition will be different, there are those like I mentioned above and there are also those who dare to use their living expenses to enter cryptocurrency and when the price drops like this they panic and sell it at a low price.