Next year will be my first bull run and have just been thinking about what will be best to do when it finally arrives next year.
Do you plan on just holding till an amount you are happy with or is it a good idea to try and trade altcoins whilst they are pumping to earn even more?
Just holding won't bring you a profit. To avail the profit on a bull run you need to sell. But selling everything early would make you most of the profit earning opportunities.
Bull is a time when buying at any price point can potentially make you a profit next day. But there are risks of you buying at the top and not being able to sell when it crashes.
For these reasons, we need to have a safe approach. It comprise of selling your holded coins on small batches, starting from a reasonable price point to greater than the last time's all time high. Keeping most of it in fiat based currency, reinvesting the rest profit looking at the technical movement of the coins. So, you need to both trade hold and buy.
We are now finally in bull run but only just getting started - my portfolio reached +100% for first time yesterday.
I spent almost 2 years at a loss and then finally hit break even in November so to now be at +100% im happy.
I plan to sell in parts over the next 12 months as one thing I constantly have read over last 2 years is to not be greedy trying to time the top of the bull.
That's the right perception not to be greedy, if you already reached your target better to sell and release what you hold instead of being greed and try to make more, you can't predict what are the possibilities though if you are still believing that there are chances that the market will continue to rise back I guess it's up to your good understanding and knowledge as you already waited that long and you do capable to take that long time fram to hold just needed to add some to fully maximize all the potentials.
Personally, when we enter a bull phase of the market, i continue to trade, i don't stop at all, we can make money in both phases of the market bear and bull , then unexpected opportunities can appear in this phase.
right, I'm like that too. no matter what the market situation, you will definitely make a profit. but time determines. it could be sooner or longer. and the most important thing is to choose a good altcoin, of course with research first. Don't just start trading altcoins. especially for the medium and long term.
Choose the right asset and make sure that you fully understand the potential make sure that you trust the developers and what are the goals of the project, chances is always possible when you do your research and have that study being properly analyze and assess.