Your strategy in taking profit

Juelz

New member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
 

Ian

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
1. BTC of course and some trading in ETH and other low cap coins.
2. I havent touched a stablecoin ever since when im here on cryptospace.
3. Strategy? So far my country isnt that strict into crypto gains but generally if your country is strict then you do know on what to do.
4. I didnt have much to reach that lambo profit unless if we do see 1000x but this one is not on BTC.
Cheesy

5. We cant tell on how long bear market ends or into that cycle but you can at least do go with the flow and make profit on price movements.It sounds easy but it isnt
for everyone and it do need a lot of practice
 

Nicholas

Member
I usually take my profits by trading bitcoin. I don't take that much time of holding unknown altcoins because I know that I could be rekt when I'm off guard.

It's part of my experience and that's why I don't want to be caught again by those altcoins that look bullish but suddenly will turn bearish and everyone is dumping.
 

Roman

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
BTC and some Altcoins in the top 10-20 only.
2. If stable coin, When do you plan to shift to it?
I would rather hedge it to our local currency.
3. What is the strategy to pay tax?
Not sure of that,
Smiley

4. Will your Lambo come before the parabolic market if your acquire certain profit?
Not a lambo but probably my money will be put to good use.
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?

Hold and accumulate. Been in the 2017 cycle, learn my lessons, I was here when bitcoin was < $1k, I should have hold in and wait for the final run in December before selling it off. Lessons learned for me.
 

Jameson

Member
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
You can't put a period on a market cycle even if you see some kind of pattern emerging based on their historical charts since you may never really know the exact future movement of the market will be in the future. You won't even know when exactly Bitcoin would rise up again nor will it go down from here. That's why you can't look at it in a long term period view since it will be inaccurate, if you are a hodler I would advice you to just look at times where your crypto is near its bottom or has bottomed out and that is when you will add more in your portfolio
 

Easton

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.
The best strategy is to have a entry and exit point, so at least you will know when to get in and when to exit so that you won't get trap.
1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
I'm sure majority of members here have bitcoin in their portfolio. Tax depends country per country law. I don't like stable coin to be honest. If the cycle continues then 2021 should be the year, so we will see and then make our plans
 

Cooper

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
Those questions is too hard to answer for now mate, because earning good profit on certain coin couldn't be achieved while market wasn't able to regain it's momentum. I can expect expensive things like that lambo or even luxurious gadgets while we're in the midst of pandemic year. Bear market really had affected me and the rest of my family, that's why I consider the coins I am holding as my potential profit once highest bounce will commence. Maybe I'll keep it discreet when choosing a coin that has potential profit
 

Angel

Member
1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
1. I have been doing mostly BTC and ETH futures trading, not spot trading for now, Lately I have been trading more with ETH because of it's volatilty as compared to BTC

2. Mine is a day to day basis depending on how the market moves.

3. Honestly, the crypto tax part is still a grey area from my side. Most of my crypto assets are still in my private wallets thou. If anything comes up, I can comply so long as it's fair.

4. Certainly not sure about the Lambo, even a Toyota can do for me but if things work out so well then a lambo comes along the way
Grin


5. I will continue my usual pratice of day trading with part of my crypto assets to survive through the cryptowinter
 

Ezekiel

Member
I don't have a fix rule about taking profits mostly based on the situation, if I feel enough profit and don't have more time to be online because need to do another stuff I will immediately take profit. I'm prefer trading BTC-Altcoin (1-100 CMC Rank) or high volume trade on that exchange
 

Connor

Member
The best way to make a profit is to invest in a small amount of money and keep the currency stable start trading in minutes with quick and easy registration method and low minimum deposit save fee low commission rate and all available resources benefit from strict spreads during trading also enjoy the trade's security features that will ensure your personal data and funds are always protected. The business can make long-term investments in order to make more profit
 

Axel

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
1. I don't want to tell you about what coin because that will be my secret. But I will say that bitcoin, ethereum will be the biggest coins to take the profit.
2. I don't use a stable coin to trade, but I use a stable coin to save the value of my money. I will use the stable coin to buy bitcoin or other coins at a low price.
3. I report my income to the government, and I tell them from were my source income. They check my account, and they didn't find any suspicious transactions.
4. Lambo is too expensive for me, and I don't want that expensive thing in my life because the tax will be too expensive too.
5. I will never stop learning to trade because trading is one way to make money from the crypto
 

Miles

Member
2. If stable coin, When do you plan to shift to it?
I think I venture on staking coins. Personally I do trading from futures contract, even shitcoin and staking is my most favorite cause its really easy. I am staking mantra dao OM on bitmax with an 88% APY then its a cool profit indeed. I also love putting my busd on binance doing farming new tokens plus interest of busd. Not bad profit. Stable coin now can be profitable, you just need to review a platform where you can gain income from it.

Aside from that I had my long time holding of major coin which served for linger time valuation.
 

Carson

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
1. Any coin/token that can give me profit, I’ll take it.
2. Stable coin usually pumps in the long run, so if you do play long start looking for good project and know your selling poiny.
3. I don’t personally pay the taxes, the exchanges works for that one and we are not force to declare crypto profit in my place, so i have no strategy on this one.
4. I don’t get what you mean here but every time I make profit, I reinvest it so I can make more.
5. If there’s a cycle then you must buy on a cheaper price, but we can’t tell this since the cycle always change and the market volatile is still high so try to know what is good to hold for the next 5 years.
 

Robert

Member
Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.

1. What coin are you taking your profit?
2. If stable coin, When do you plan to shift to it?
3. What is the strategy to pay tax?
4. Will your Lambo come before the parabolic market if your acquire certain profit?
5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?
1. Even before, Bitcoin is my bet, and I use this for my trading.
2. I have no plan to shift into stable coins. It won't actually make us profitable but just keeping our funds of not losing its value.
3. We're glad in our country that we free are from taxes in regards to holding crypto. But it won't give me worries if that time will come, it is under the law and we have to follow it.
4. When Lambo? Well, I'd never think when to comes but surely it happens again. The market is still struggling to keep the rising momentum and see it hard to do it this year.
5. If that so, then we have nothing to do with it. We don't need to be disappointed instead of facing the challenge that we might encounter in the days coming
 
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