When do you guys take profit and how much


#1

Watching Peter’s ICON Cost Averaging video - he said he’s going to cost average and might take profit at $15/30/50 - (Don’t hold me to that - I’d have to recheck the video to verify)

When you guys do that - how much? Like - do you cash out 5% of your coins - I am ASSUMING you don’t cash out enough to cover your initial investment and is there a point where you reinvest it?

I’m only sitting on 280 iCX and I want to hold for long term but money could get a little tight and it wouldn’t hurt to put some back into the bank occasionally :slight_smile:

A friend I spoke with on twitter says she would buy a bag - it goes up 40% and she sells off in 1-5% increments until she gets her initial investment back and HODL the rest -


#2

This is actually pretty important. Make sure you set your EXIT goals before you invest. So you know exactly when to take profits!


#3

I was pretty sloppy on my tracking trades on a spreadsheet too - I need to do that for next year - I’ll do some snooping today


#4

Yeh this is something you really need to set in stone before you make the purchase. If you didn’t do that then now is the time to sit down and figure that out. There are tons of different strategies.


#5

I have problem with understanding this part :frowning:

If I take profit when ICX is 10$, wouldn’t I later put that money back at higher price if DCA cycle isn’t over?


#6

This is kind of my thinking… and why I currently just hodl everything until its over… I don’t want the price to run away from me. The risk seems greater than the reward at times… hoping you guys can help me refine the strategy as well!


#7

This is a bit different between DC and Investment.

Example I DCA’d into BTC then BTC went on a massive bull run. Near the peak I withdrew my initial investment and am continuing to DCA in. I did this because it limits my risk / exposure of my current financial situation as I still have a mortgage and two cars to pay off.

If you are doing what Peter is doing then he is DCA’ing in as an experiment to collect data and has a second stash as an investment long term if I remember correctly. So from the video it sounds like he is going to DCA in and at certain points he will withdraw profits and put those into his investment pile. Now if I was to do this I would just move my coins from the DCA pile to the investment pile with out actually selling. I do not remember him discussing how he would go about this.


#8

When NEO hits 500$ i’m taking out enough to buy a Tesla. :joy:

Other than that, i plan on taking out like half my total portfolio at the end of 2018.


#9

Im thinking about that same strategy, taking out half the portfolio at the end of the year. Re investing the gains something that you think about doing?


#10

If something interesting comes around, i will surely invest in it. And by pulling most out, i would probably keep it in a crypto i can spend for daily purchases.


#11

my portfolio now is only about 3k half in ICX and half in BTC but circumstances make it unlikely I’ll be able to do much more than DCA that same amount in over the course of a year in a coin - so cashing out is probably less important than trying to use that money to make more money


#12

I’ve gone into my cryptocurrency investments with an exit goal and sell off in increments then HODL, similar to your friend’s strategy.
But I’m curious how often you or anyone else here change their exit goals after buying into a crypto?


#13

@Peter, with your profit taking (at $15/30/50), how much of your holding are you taking out?


#14

Im interested in knowing also…

Would it be your total profit and leave your initial investment and then just keep DCAing until it hits your next goal, in this case $30?

Do some of you reinvest your profits or do some of you reward yourself and cash out?


#15

for initial investments i wait for it to go 2X, then sell half. this basically puts your enitre position as profit.

for swings i target 2-3% and sell off 100%

for timed events or news based trading, ill look to sell after the entire run up 5% into the dip, even if its a bear trap. 100% of the funds (i.e. a mcafee coin of the day pump)


#16

Hi fellow cryptoknights - regards to the topic of profit taking, i am still as confused as hell. I am a HODLer. Whenever my stash of coins hit a 33% in overall totality, I take profit. One day, a friend told me I had been doing it all wrong. By not taking any profit and letting it roll, we exercise the power of compounding. If you had more coins, your next roll will be more, therefore, more profit. And it builds, and builds, and builds - until it becomes indecent and massive, we then take out however much we want, and live happily ever after. Any thoughts on this fellas?