I'm always thinking about this question when I buy a coin. When will I sell it? Will I sell 100%, 50% or will I just take my profit? How about fees? Do I sell it for Bitcoin or Do I sell it for Ethereum? Should I buy back the coin? I actually do think about all those questions before buying a coin. What I do when buying a coin is to decide what is going to be the next high, usually for a coin around $0.03 the high I sell is between ( $0.15 (50 %) and $0.25 (50%). I will sell all my coins and I will wait for a dip and buy back in ( if the coin goes higher I should not be mad because I have to follow a plan that has saved me many times.) . The coins I choose are great technologies and I want to be part of its development, so I do want to have a portfolio with those coins. Why do I sell if I like the coins? First because I chose to leave my job to invest and I need to make sure I'm making money investing . Second I want to generate more money to buy more of that coin.
I sell my coins for Ethereum because it is easy to take my profit ( you pay less fees) and the value of Ethereum doesn't drop fast so it is safe to keep my money with it until I buy another coin. I understand the pattern when a coin goes to its all time high it will drop, I will wait patiently to buy for less.
I will disappoint many of you by telling you this in the game of making money you have to be patient and watchful, there is no easy way. Don't be too greedy! I have never seen a coin going from $0.03 to $1.00 in a day ( unless it is a pump and Dump coin) you may want to watch for those situation too!
This year it is going to be a good year for cryptocurrency, we just have to make the right decisions and avoid the traps!
I'm not a financial advisor, I just share my strategies to help others feel confident!
Roberta
