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.
The very smart move that is actually obvious is cash out your holding if you gained a lot of money like for example you just bought it in a $10k and a week after the coin pumps and now you have $20k so it is much better to cash it oit befote the value drops again just do not be so greedy because i was greedy before and i thought it will still pump but not so i lose a lot of money and time also. But if you really need the money then no matter what price it is you cash it out because you need it it is and emergency and it is okay.