Post
Topic
Board Trading Discussion
Re: How to know when to sell?
by
erikmatik
on 14/11/2017, 11:08:58 UTC
If you are talking about the cryptocurrency market then it is hard to predict the market so you cannot accurately know when to sell and when to hold. This is not like the stock market that some traders based on candle sticks or should i say technical analysis. Bitcoin is different it is very volatile, more volatile than the stock market. What i mean by this is that you cannot just simply rely on the news, if there  is going to be bad news then price will fall just like in the stocks. What i can suggest is to just put a target price, say if bitcoin falls to X amount you will be buying and if it gets to this amount you will be selling otherwise you will just hold. You'll be making more profit by doing that. Patience gets rewarded my friend.

Patience is actually my problem. I'm too patient when it comes to holding.
It's like am actually hoarding the coin 😑.
I guess I'll have to try out your target price tactics and see if it works for me.
Thanks for your time sir.

It's not bad to hold, to hoard on your coins. Coz basically the concept is you buy low, hold onto it for some time until you feel you profited a bit then sell. Profit comes on how you play. you may experience losses sometimes but its natural, bitcoin is too volatile. I've experienced losses too.