We're currently experiencing a bear market phase. How do you intend to secure profits once the market undergoes a turnaround? What proves to be the most formidable obstacle in executing this strategy? If your intention isn't to convert profits back to fiat, kindly explain your philosophy regarding this choice. Newbies in this platform like me could gain insight from your past experiences.
My primary approach to this is to increase my portfolio value in terms of BTC rather than dollar ($) value. So if the price goes up (and we're in a full blown market) then I just take profits and buy when the market bias has flipped from bullish to bearish. In my earlier days, I didn't take profit and left money on the table so when the market bias flipped to bearish, I ended up regretting not taking some profits. In hindsight, I ended with same value in BTC when I could have probably gotten more.
Everybody has the way they do theirs. But as for me what I do in bear season is pretty easy. I use two exchanges one for my accumulating and leaving till I grow old. while the other is for buying and selling using different methods.
The one I use for my buying and selling. I use the DCA method and then Dual Investment or Sniper in other not to miss any buying low opportunity or selling high.
I only know about DCA and its effective most of the time since my average buy-in price is often priced in. On the other hand! How does the Dual investment /Snipper strategy work?