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.
You are not really thinking about cashing out you are thinking about rebalancing your cash allocation, the most conservative approach is to do that once a year decide a date and rebalance your portfolio to your desired amounts and then one year later readjust your portfolio, if you are more aggressive you can do this several times a year that way you will not miss pumps like the one we are seeing now.