Realise Your Profits While You Can
Yesterday I was watching Etherium make large gains possibly due to the hype going on yesterday.
I do have a stash of this stuff and moved 2 Etherium from my Ledger to Binance in anticipation of selling. I placed a sell order at what I thought was a good price and then cancelled it, only to repeat this action 20 minutes later.
Source
Where is the top? You can never get the top unless you are extremely lucky and the mind games then start.
Now I find Etherium has stabilised and below the value I wanted. I know it will get back up there..., or I think it will.
We all are thinking BULLS right now but put into perspective we need to remove that element of greed if the profit is to be realised.
...'not quite where I want it to be, but I will sell it, I will... I will'...
I haven't bought any Etherium since mid-2019 and likely bought at under $300 or less. That's a FIVE times increase and yet it’s not enough, or do I have the nagging feeling that Etherium is going to make $20,000 in the near future?
It is in the back of my mind all the time, but FIVE times is still damn good so should I have taken it yesterday?
So much is being stated about BitCoin (and Etherium) further mooning but the facts are nobody knows what is going to happen.
I have now placed a sell order on my 2 Etherium lower than the top value it has been in the last 12 hours.
This is not ALL my Etherium, having sold 3 at around $1200 a few weeks ago I have no regrets. I always said if it went above $1000 again, I would sell 3 and we would have a family holiday paid for by Etherium.
That idea has gone out of the window 'cause of this fucking virus, and as soon as things get relaxed every bastard will want to escape to warmer climates raising prices.
Source
So the goalposts have now changed. During January and February, nobody has any money. It’s a good time to buy stuff when everyone is skint.
My car is now 9 years old, at almost 170,000 miles and I have my greedy eyes cast on a nice Audi; the Lambo can wait until next year.
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ha, ha, ha. As I was reading I had the question running through my mind - yeah, but what are you going to do with it? And then you answered. 😂
I'm all about creating income from my investments and, since I don't have the stomach for trading, it's easier just to leave my coins where they are.
I did start the process of buying Ethereum last August, as in I downloaded metamask, but I never worked out what to do next and so I never got around to it. Oops!!! 😂
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It's all well and good holding this 'monopoly money', as that's what it seems to me sometimes. If we could buy stuff with it, then great.. but at some point the buying needs to come to a stop and selling must take over.
Now I will have a nice car rusting outside, instead of that ETH going up.. or will it go back down to $200? Nobody really knows, we all speculate.
I don't want to by stuff with it though. The gamble I'm taking is that it will go up in the long term and by then the platforms that offer a return on staking/lending will be more established and less speculative and I will earn income from them.
Or, just as likely, other opportunities will come into the space. I'm after income not capital. Although, of course, an increase in capital hopefully will result in an increase in income.
!ENGAGE 10
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I have asked myself, 'what are you gonna do with the money?'. I'm not a material person, having got past that stage years ago. The car is necessary though I could be more practical and buy a rusty Lada that needs some welding..
...'dream machine?'...
Ah. Happy memories of a fun holiday we had in Bulgaria. Back in the days when we could travel at will. 😂
!ENGAGE 10
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ENGAGEtokens.ENGAGEtokens.If you can buy yourself something nice with the profit then it's a win. Nobody really knows where crypto is going. Of course they dream of much higher prices, but it's all just speculation. The wallstreetbets people are messing with the markets and Elon Musk is trolling them too. It's not like he needs the money. Someone has to lose for others to win. All fun and games.
I have never really been a car man. I bought @bingbabe a car only a week ago, all leather, all kitted out and it's lovely to drive. Shame it's a Vauxhall, but that's just image.
I may be going through a mid-life crisis, I'm not sure yet. My car is well gone though, and does need replacing.
I'm not too bothered about cars and hardly need one these days. I'd like our next one to be electric if possible. Maybe crypto can pay for it.
I looked at the electric hybrids and decided the technology is not quite there yet. I love the idea, but we seem to be a few years away. The government want to ban all petrol and diesel (new cars) by 2030, yet what is on offer is not yet up to par.
I would go pure electric as hybrids are more complex and maintenance could be expensive. You can get 200 mile range from a lot of them that is plenty for 99% of what I do. Would be looking into leasing as the tech is changing fast.
Always take the profit. I remember in 2017/18 everybody was too scared to cash in and literally watched their portfolios shrink by 90 plus percent over the coming months. It's a hard thing to do but if you just take it you will always be up regardless of what happens.
If you like to gamble tho...
I missed all that, and was late on the game. Learning from the past (what others have said) has taught me something. I know I'm still down mostly due to HIVE and it's reluctance to get past 15c..
Aye, trust me. Sell half and hold, wait to see what the market does if it keeps going up choose another point and sell half etc. Works a charm!!
This sale will pay for the lot or close to it. That's the plan!
Woot woot! Hope it comes through!
It did, I sold it yesterday..
Top banana!! It is the time for selling!
Place a spread rather than a single large order? Or stick some into ETH2.0 staking (Binance offers a ETH/BETH trading pair) to take in staking profits denominated in BETH (easily moved back to ETH).
It's tempting but I'm a fan of 'my keys - my crypto'. Sending it to Binance is bad enough, but I have little choice if I want to sell.
DEX or AMM is worthwhile (with a couple of gas transactions) if you are doing 2 ETH... Although switching orders quickly is a bit terrible. Moving to BSC based ETH pegs is much better, you can access the DeFi there with much smaller fees (in BNB).
Of course, if you are above the threshold you could stake yourself out join a pool... On the other hand, it might crash to zero while locked up!
That looks like a sweet ride. Take some profit, you've held long enough. The future is an uncertain place and we can never be fully prepared for it but we can try. But in the meantime, do as you see fit with your new bags.
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'long enough'..., you got that right. We believers have to be a patient lot!
I feel you on the trading I never seem to hit them perfectly, I believe we're not at the top, BUT THE TOP IS FAR OFF AND THAT SOME PEOPLE ARE GOING TO HOLD OR LOSE MONEY just my opinion
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That's what they keep saying. Most of it is still safe on my Ledger. Buying 2 years ago does not seem so crazy now as it did then.
I've been in crypto for about five years now and am by no means a pro but have learned a little with each market cycle. This cycle is a different animal than past ones I've lived through but the person who mentored me always advised me to cost-average out of the market a little bit all the way up during a proper bull market. He drilled this into my head it's never a bad thing to take profits. I keep repeating this mantra when greed kicks in and it usually works. This method won't allow you to make as much as selling at the top would but as we all know the top is difficult to call. The best thing is it won't leave you holding the bag either and you'll have funds to reinvest once the bear market kicks in. It brings me so much joy to buy things with crypto earnings. I always enjoy whatever it is a buy a little more knowing it was purchased with crypto profits.
You have been in it longer than me then. This selling lark is all new and alien to me TBH. Talk about psychology! I am taking some profits while I can.
Smart man! Psychology plays so much into it. We can definitely be our worst enemies sometimes. Good luck to you and enjoy that new car!
We always have that slated time where we want to sell our coins, $1200 isn't bad, you can buy some later when you want to, taking the little gains and buying more is healthy. I'm not one for risks or greed too.
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That greed factor is something we all need to mentally overcome, it's a tough one to master.
It's really a tough one but it's always going to be there we just need to control the excesses
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You lucky SOB. I love Audi's. Being the son of a auto-worker, I would probably never buy a foreign car, but if I did, it would be an Audi. There is a lot I like about them.
This I think is just about the best quote I have seen in quite some time. I have been toying around with selling some of my stuff lately, but I really think it all comes down to this statement. Do I need the money now?
Thanks for this. Best of luck!
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I'm not going to hoard it all and hope for $50,000 ETH. We all saw what happened last time (I didn't experience the pain).
It's almost there, and no cancelling orders this time. There's lots of Audi's and BMW's here, I have never had a luxury car before.
The closest I have come is my wife's Buick. It is a super sweet ride and has kind of spoiled me.
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I remember all those cars from the mid '90's, they will be a a lot nicer then. As you know I had a Gran Torino.. with leaking brake fluid.
I sold a little BTC recently, just under $40K - it's time to start skimming a bit off - and LEO too - I've got a policy of skimming off around $50 a month, not much but something. I may increase that to $100.
Yes, don't get caught with your pants down... so to speak! I already offloaded some BTC at around 22k and thought I was doing good at the time. It's still a 3x profit, and that needs to be considered. Most of it is still on my Ledger.., not a much as I would like.
It's not easy to sell yer precious crypto though, but as you say 5 times is 5 times!
I'm sitting on 11k liquid HIVE and can't bear to part with it. I know the feeling..
It's easier with LEO somehow!
Always a dilemma when you want to sell at the top, you never know when this thing will run out of fuel and hype, but make no mistake it will run out of those things, question is when, a million dollar question. Ethereum is at it's all time high, in the meantime its usability is at it's all time low, user experience is insanely bad. If the price goes up more, gas fees will be even higher, completely crippling the chain, so will they pump it even more or get real and put some reality into the price.
5X is great considering how bad is to transact on ETH, it needs to crash or people will start to hate it more and more. Gas price killed 99% of NFT trading on Eth, those are bad signs. But as always markets do not care about fundamentals during bull runs.
Yes, don't I know it! What goes up.. has to come down. It cost me around $4.50 for move those to Binance, got there in 10 minutes.
I know that feeling. I've tried to counteract it by dividing my funds into money I'm playing with and money I'm just holding. I have 3 ETH I'm "never" going to sell, everything else is free to be bought and sold as I see fit.
Ultimately, you are never going to time the market right and 5x is pretty damn nice. But 10x would be even nicer... we are greedy people :D
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Get something back while you can, if you were wise enough to buy during the lows.
😡🤣
You and your Etherium based games!
I still have a year and a half to go for my five year mark, then I decide if I want to start converting to Fiat or using Fiat to by into crypto. I did get lucky and had two sells when HBD peaked, granted they were not huge amounts, but at about 10 for 1 it was nice. (Tiny amounts like I said, 0.01 range of hbd's). The spike has now got me actually saving a little HBD instead of my get it convert it I used to do. (I guess the greed part).
I use the 80/20 rule. Trade and take profits on 20% of my portfolio, and the remaining 80% of it I HODL.
Yeah. I’m Going to buy a Lambo very soon. Thanks to Dogecoin. And Elon Musk.... wait I should probably buy a Tesla Truck.
Nice car. That would be quite an achievement, being able to tell people you paid that off with your crypto profits.
Not all of the car has been paid for, but it helped.
Sadly, this is a lesson that no one seems to be learning in the Crypto world...its all hold and wait, hold and wait. Old heads have the experience to think clearly and be decisive and not regret any past decisions that may not have gone too well.
Ignore the kids! Nothing is profit ...or a loss, unless its a tangible asset in your hand!
Have a great weekend fella :-)
Good for you!!! That Audi sure looks nice!!!
It sounds unreal Eth at 10, 20 k. But in this game of crypto one can never know. I think that this is the reason why investing something that you can afford to lose or watch it drop 90% is wise
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I hate to admit but I really took advantage of coronavirus, maybe if I get there in life I could start a charity to help poor people get jobs and teach them finance giving them a meal. I want to start a dapp too for rappers and music producers called Beatzchain
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