Post
Topic
Board Trading Discussion
Re: How Do You Secure Your profits?
by
OTR
on 23/08/2018, 01:38:48 UTC
I feel as though either I, or many others, have missed out on the point of the question. Of course we can secure profits by exchanging it into (T)USD(T), but I felt as though the question was more about knowing when to exit a trade.

If that's the case then I suggest the OP relies on: A) extreme readings in some technical indicators, B) extreme readings in shorts or longs *combined* with price movement in a similar direction (rising longs plus rising price means we're at/near a top) and C) an understanding of the landscape one is operating in (knowing that the ETF for today was obviously going to be rejected would have allowed you to secure profits from the pump last night).

If that's not the case then yes, just move your profits to Tether, TrueUSD, NuBits or some other stable-token. If you're withdrawing them in and out of your bank then make sure you have a log of all transactions when it comes to paying taxes on them.