Quote from: babygun on December 19, 2017, 10:51:44 PM

Quote from: OMGyasuo on December 15, 2017, 02:46:04 PM

Quote from: Enjel on December 08, 2017, 07:01:43 PM

I have been investing in a bunch of different coins for a while now, mainly BTC, ETH, LTC, and some other lesser-known coins. I have a lot of different coins in my portfolio to stabilize/reduce risk.

I love the gains that these coins provide. I never panic-sell, and always hodl and buy low. That has been my simple strategy.

However, I have a problem - how do I train myself to know when to cash out?

For instance, last night the BTC price was high (18K), and ETH/LTC price were low.

I could have cashed out then, and invested in ETH/LTC, which are seeing a nice pump now.

How do you know when to cash out??

Right now the only time I cash out is when I need to money to buy a gift or something.

I think now is the time for you to sell your btc. Prices have probably reached the highest level. The demand for btc is decreasing. So maybe prices will not keep rising.

Cashing out at the "right" time is very difficult. The ideal scenario is always: buy low and sell high, but this is just in theory.
Giving the high rise of bitcoin, I am also thinking of cashing a little bit of my BTC, enough to have a profit and hold the rest.

There is a right time , but people do not plan for it, for example if you know you are going to need money in 3 months then there is no point in waiting to cash out just before you need the money, watch the market and cash out when the price is at its highest that way you get more money for your bitcoin and also only cash out what you need, you do not want to miss on a price increase and instead of having bitcoin you have worthless fiat.