I'm all in on Crypto, time to cash some out, but when!!!

bacon?

90% of my money is in crypto, the rest is fiat. Not a huge amount, but still :D
I'd like to diversify into some non crypto assets, but it's so bloody hard to know when to take profit. And, from what? I guess skimming an equal amount from each holding? I'd like to cash out 20%.

Things are looking pretty bullish right now, so may hold off a little, I know it's almost impossible to pick the top... Probably set up some sell orders, ladder out.

Matt Simis

Sell on things you don't think have the potential to 2x or more and leave whatever could do same in increases in the next 2mths IMO. Skimming a bit from everything may or may not be wise depending on your portfolio mix.

makeorbrake

It's interesting that you use the username 'bacon?' as the old addage applies;

"Pigs get fat, hogs get slaughtered'.


Don't be a hog. If you are up, then cash in a significant proportion of what you have. Up until a few weeks ago, I was in a similar position i.e. 90% of my net worth in crypto. It was a significant amount and whilst I should have been happy out, I was truly miserable. It's just far too volatile to have those sort of proportions vested in it. I was gong around checking prices every 30 seconds - night and day.

I wouldn't recommend leaving yourself exposed like that.

bacon?

makeorbrake wrote: »

It's interesting that you use the username 'bacon?' as the old addage applies;

"Pigs get fat, hogs get slaughtered'.


Don't be a hog.  If you are up, then cash in a significant proportion of what you have.  Up until a few weeks ago, I was in a similar position i.e. 90% of my net worth in crypto.  It was a significant amount and whilst I should have been happy out, I was truly miserable.  It's just far too volatile to have those sort of proportions vested in it. I was gong around checking prices every 30 seconds - night and day.

I wouldn't recommend leaving yourself exposed like that.

Checking prices every 30 seconds! Sounds like you did the right thing.

makeorbrake

bacon? wrote: »

Checking prices every 30 seconds! Sounds like you did the right thing.

Yes, it was good to get out. Of course, there will always be the what if's ...what if i had bought back in at 6k and sold at 11k but hindsight is 20/20. If you make a decent profit, then realise the profit before it evaporates.

McCrack

Yes nobody ever made a loss taking profit

I have learnt that the hard way