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

  • 17-02-2018 04:07PM
    #1
    bacon?
    Registered Users, Registered Users 2 Posts: 786 ✭✭✭


    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.


Comments

  • #2
    Matt Simis
    Registered Users, Registered Users 2 Posts: 8,574 ✭✭✭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.


  • #3
    makeorbrake
    Registered Users, Registered Users 2 Posts: 4,607 ✭✭✭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.


  • #4
    bacon?
    Registered Users, Registered Users 2 Posts: 786 ✭✭✭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.


  • #5
    makeorbrake
    Registered Users, Registered Users 2 Posts: 4,607 ✭✭✭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.


  • #6
    McCrack
    Registered Users, Registered Users 2 Posts: 3,017 ✭✭✭McCrack


    Yes nobody ever made a loss taking profit

    I have learnt that the hard way


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