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.
As l've saw to my brother it is good to cash out when price is increase. My brother use to monitor the price often, because that's the way he earn a bigger amount. Monitoring price is important because price increase in just a seconds or in just a minute. Also if he is trading he used to hold that coin first and wait for the right price for him. So I think before you cash out its better to trace if your coin has the potential to get higher. Then sell it when you meet the price is right for you.