I've been around here for two years, and saw my modest but diversified portfolio of 30 or so (!) alts go 8x during the bull market of late 2017. I'm fairly disciplined so I stuck to my strategy of holding through the entire crypto winter, and even bought in the firesale through the first half of it until I ran out of fiat. But in retrospect I should have taken some profits on the way up, as it would have made the ride much less stressful, and I'd have some tangible benefit from investing (speculating) in crypto.Fingers crossed we'll see a new ATHs someday. If that happens, this time I want to be prepared.There is plenty of research out there for how to buy, cost and value averaging being some of the most robust strategies. But I haven't found any research on how to take profits, without hurting future gains too much.So now I'm thinking of just taking a fraction of my portfolio whenever it goes up by 1x. For example, with a portfolio's starting value of 1000, I'd take 10% of it's current value. So take 200 out when the portfolio goes to 2000, take out 300 when it reaches 3000, etc.What profit taking methods are people utilizing in their strategy?
Submitted June 22, 2019 at 06:59PM
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