Quote from: harri74 on January 28, 2018, 04:24:20 PM

Hi folks,

What do you use as your cash out / take profit strategy? Do you even have a strategy for taking profits?

I have been trading for the last 6 months and more than once I have been in a position, which in hindsight, where I should have 'cashed out' a significant portion of my portfolio, but I haven't.

The obvious strategy is to take out your original stake and just 'play' with house money after that. I also read that if you double your investment in a coin then sell half which seems quite obvious. However, I have a long term vision in place (mortgage/house purchase) which makes me more inclined to leave the majority of my portfolio exposed to the market. I use Blockfolio app which makes it easier to track my investments and until recently I was just skimming the profit off successful coins and reinvesting in sleeping giants. This strategy was working well until the price of BTC nosedived by around 50% 3 weeks ago which makes me think a regular profit taking Into FIAT strategy would be far more effective.

I plan to ride the alt train for as long as possible. I follow the market daily which makes me confident to hold fast through the hard times but I feel having some kind of profit road map is a good thing.

Thanks for your input.

If you really don't want to blame yourself then you should have a strategy in place on cashing out. You can set it to be every 3 months or 6 months or maybe the time when the market is at the peak because the marker is so volatile and the fact that there is never a perfect time to cash out several things can happen that we don't even plan for and those that are fond of keeping are mostly hit.