Do you set yourself a limit? a goal? a percentage?
In my Crypto journey I have increased my portfolio quite substantially with only a small deposit, but I'm always left with the question, Do I cash out now? do I leave them and see if they'll grow more? Obviously this depends on the Coin/ Token you are dealing with but some can be unpredictable, to me anyway
Do you set a limit in which you'll be happy? or do you keep an eye on what is going on and cash out when it looks best? A few times I have cashed out when I thought best and then watched it climb higher in agonizing pain, take Ripple for example.
Asking other investors how they sort their currencies I found out that it seems to depend on the Coin/ Token you are choosing to invest in, what your financial situation is and whether or not you are here for a good time, or a long time
Situation One; Selling instantly
I spoke to one investor who is mainly looking into the very low end coins that he thinks may have potential, but instead of waiting a while, he sells as soon as it goes up or the next day.
Probing for further input I did find out the profit he was making was not a substantial amount but for someone just playing around to learn, it was still a profit in the end
Situation Two; Long term
Long term investments may be for the investor who is very familiar with certain coins/ tokens and the current state of the blockchain. They also might just be "feeling lucky" and take a risk, after all, everything goes up eventually right?
An acquaintance who got into the markets about a year ago didn't know a whole lot about how Crypto works but he knew enough to make a purchase. He found some low end ones and decided to purchase them to hold for the "long term" today those trades have been the best he has made but again it depends on the coin/ token. He told me that spending $10 on a low end coin can be worth a lot when it eventually goes up but if you were to spend the same $10 on a high end like Bitcoin or Ethereum you would only make a mere few cents.
I might still be learning about the block chain and its capabilities are but I would love to see it be implemented to everyday life to take over real-world currencies. I have purchased coins for long term and I have purchased for short.
My findings have lead me to believe that it really depends on the coin, Ethereum might be good for a long term investment but Stella Lumens (for example) would maybe be a coin that you buy and then sell as soon as it makes a move towards the moon.
Personally the small amount of coins I am holding I plan to keep long term, stored away for a rainy day or at least until I can get that shiny new Lamborghini
*I am a rookie when it comes to the topic of crypto currency, I am not responsible for any loses or gains that may have been influenced by my words.
I hold all investments/bets until I double my initial buy-in then pull half out. Then I just play with the profit and sink the initial investment someplace else.
My #1 rule is: lock in a decent profit then don't check back for a week. Checking prices right after selling is simply a way of kicking yourself. It messes with your head.
That said, I just sold my SC coin, then watched the screen as it ran up another 33%. So, yeah, I have to keep telling myself it was a good trade, a double. And -- more importantly -- to remember rule #1.
I know what you mean! I got some SC myself and I really want to sell it and make the profit but how much more can it rise? Ahh the calamity
Personally, i think is if you think this cryptocurrency will be here to stay and more and more place that accepts it and becomes part of the way people use to purchase daily services and products. I think it is worth to keep for potential upside.
Hi ~ I'm a robot of imranmujaddi.I just upvoted your post!
Please also help upvote my post here:
https://steemit.com/bitcoin/@imranmujaddi/how-rich-are-the-founders-of-ripple-and-ethereum
Thanks so much~!!