Taking profits

[bots1]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

[Fredomago]

To take profit, we each have our own methods and must follow our instincts by carrying out various analyzes with the information we get. and I have taken enough profit from Dogecoin that I have been holding it since mid-2024. because I really believe that Dogecoin can give me a profit.The point is that we have to believe in every decision we have made.

Taking profit is always amazing with it needs good work from investor specially working on technical things and going with many analyses never been easy after this having how much profit is going to be ok another challenge because sometime greediness kills and peoples gone under trap while they want huge profit this give them shock even sometime we have lost which are not recoverable for investors.

Just because of this working carefully and having all things ready is also not bad even give better end of trade and investment which is important for all sometime if we have advance tip like mentioned Dogecoin it's also working good and give good profit but still keeping things under control always good for positive end.

Greediness kills your investment as instead of taking your profits you been aiming for more, that kind of mentality will lead you losing your money, it's always the decision that you'll going to take that's really important when investing or when you are in the trading sessions, better understanding and knowing what should be your limit helps a lot in making a good success.

You have to analyze and think more about the knowledge that you may gain in each position that you take, experienced gives you that good basis to place and set your target for a better success.

[fikrett]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

Wouldn't you want to wait to get at least +10% or +20%?

[kawetsriyanto]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

If you do daytrading, you shouldn't expect to take very significant profits. If you want to get bigger profits, you prefer to choose holding altcoins for few months/years. But, doing daytrading, you will get profits more often. However, sometimes do daytrading isn't that easy. When the market trend changes suddenly, you may have no chance to get profits. How do you deal with this condition? You should have the way to avoid severe losses because of the sudden change in crypto market condition.

[markm]

If you do daytrading, you shouldn't expect to take very significant profits. If you want to get bigger profits, you prefer to choose holding altcoins for few months/years. But, doing daytrading, you will get profits more often. However, sometimes do daytrading isn't that easy. When the market trend changes suddenly, you may have no chance to get profits. How do you deal with this condition? You should have the way to avoid severe losses because of the sudden change in crypto market condition.

I can't agree with that, a few days lately BTC/XLM hasn't moved enough to hit my lowest sell offer or my highest buy offer but at least as many days I have had several of my offers taken per day, sometimes both upwards and downwards in price.

The trick is to have entire columns of offers, way down to catch major dumps and way way way up to catch super-skyrockets.

Most of the time it is just back and forth but catching those dumps and skyrockets is big profit real fast.

Having the offers already in place is key. As soon as I notice I bought, I place them back for sale building my sell column, and as soon as I notice I sold I use the proceeds to replenish my buy column.

By building my buy offers column extra-dense I accumulate extra buy-side (BiTCoin in this case) to someday thin out the column to take some of the profits away.

Since I am also busy builfing XLM buy-sides for lots of assets on Stellar platform I will also from time to time be thinning out my sell side to use the XLM on Stellar's own platform as buy-sides for things.


-MarkM-

[WeThePe0ple]

I believe there is a false sense of security in taking profits.

What you are really taking is a delayed tax hit, and a criminal conviction of fraud when the IRS finds out that you have not reported it. In my country the minimum tax on any significant profit is 33%, and in some cases 50%.

Let's assume that you have invested 2k in XRP at 50 cents. You have 4000 tokens and these hit $20 in the bullrun.
You have turned $2000 into $80 000.

You want to take profits and convert $60 000 worth of tokens back into cash, or stablecoins or even bitcoin. You may not notice it immediately but as soon as the IRS finds out about that conversion (maybe 5 years from now) you owe $20 000 in taxes on that conversion. This can really cripple your financial situation if you have taken a mortgage at that time, and you are in a bearmarket.

In such a case it is highly doubtful to me if taking profits is better than hodling.
You can sell at $20 but what if it continues to $30, before coming back down to $14 in the bear market.
Mathematically you were better off not taking profits.

[markm]

Taxing on money you haven't actually made is crazy, horrible if your country does that.

It is all just magic swords and such until and unless you ever do finally succeed in getting fiat from it.

I can see avoiding so called "stable coins" because of the possibility they could count as income since they supposedly actually represent fiat even when you have not succeeded in getting real fiat for them, but having waited months in the past for a crypto exchange to get my fiat to me, and being one of the lucky ones that actually got mine before the owner of the exchange pretended to die in some place in India famous as a place to pretend to die, or who knows, maybe he actually did die, and lots of people never got their coins nor fiat... It has always been very clear to me that it is all just game stuff until you do actually manage not only to sell some but also to actually receive the fiat you supposedly sold it for.

Politicians in the past have floated the idea that because someone managed to sell one World of Warcraft magic sword once on e-bay all players who ever find such a sword in the game should be taxed as if it were income; but luckily for me around here that idiotic idea never actually flew.


-MarkM-

[WeThePe0ple]

Taxing on money you haven't actually made is crazy, horrible if your country does that.

It is all just magic swords and such until and unless you ever do finally succeed in getting fiat from it.

I can see avoiding so called "stable coins" because of the possibility they could count as income since they supposedly actually represent fiat even when you have not succeeded in getting real fiat for them, but having waited months in the past for a crypto exchange to get my fiat to me, and being one of the lucky ones that actually got mine before the owner of the exchange pretended to die in some place in India famous as a place to pretend to die, or who knows, maybe he actually did die, and lots of people never got their coins nor fiat... It has always been very clear to me that it is all just game stuff until you do actually manage not only to sell some but also to actually receive the fiat you supposedly sold it for.

Politicians in the past have floated the idea that because someone managed to sell one World of Warcraft magic sword once on e-bay all players who ever find such a sword in the game should be taxed as if it were income; but luckily for me around here that idiotic idea never actually flew.


-MarkM-

Can you give me a legal framework that explains when you have actually "made the money"?
I would say that this is when you convert your digital holdings to fiat holdings.
Not when you convert digital holding A (for example XRP) to digital holding B (for example XRP to USDT or bitcoin).

However this is what my government (Belgium) does.
You hold 50k worth of bitcoin in 2025. Along with 30k worth of XRP and 30k worth of HBAR.

You plan to secure your profits at the end of the bullrun and convert 60k worth of altcoins to USDT.
The government sees this as "realizing profits" and will demand at least 33% of the 60k. So at least $20 000 down the drain. Probably not in 2025 because you have not reported it to the IRS. But later. When you cash out to fiat currency, they will demand full insight in your transaction history. It is up to the bank customer to prove that the digital funds do not come from illicit activity. So if you have used a mixer or a privacy coin like Monero, you will not be allowed to cash out. And if you have not used a mixer and you do cash out, you will be considered a felon (tax fraud) for not reporting profits.

You reinvest your 60k at what you consider the market bottom in 2026. It is a bad year for cypto and you have losses. The government will not reimburse you for losses and you can not discount them from profits in 2025 because it is a different tax year. They want to eat your "profits" alive even when they are not really profits. They don't care about your losses in 2026.

By 2030 your portfolio is worth a million dollars, with just 6 trades each year.
But the IRS will demand 33% on each profitable trade until 2030, and also 33% on your final cashout of a million dollars.

The bottom line for me is that I do not intend to ever convert my digital holdings to fiat currency, because the Belgian IRS will send their licensed thieves to seize everything they can.

My hopes and dreams are that one day I can pay for housing etc, in full anonymity without any bank or government interference.
But I doubt that this can happen.

[markm]

I don't use the so-called stable-coins at all, from sound of it you should avoid them.


Ideally you ought to be able to simply treat it like any other business, even your office space for it as fraction of your home being an expense.

You buy internet access, machines to work with and maybe even to mine with, electricity to power them, and someday get some fiat back from all those layers of activity, maybe some year the fiat back will exceed all those expenses.

If at some point you actually buy crypto with fiat that should be like buying inventory, possibly an expense or possibly a kind of asset whose value is kind of in limbo until you manage to sell it since market conditions and for some inventory spoilage etc could very much change how much you get for it including getting less than it cost you.

But overall you haven't earned any actual income until you have gotten more fiat back than you put in.

Politicians etc often prefer not to see things that way though, hence their once upon a time suggestions that World of Warcraft magic sword finding be a taxable event.


-MarkM-

[lixer]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

If you do daytrading, you shouldn't expect to take very significant profits. If you want to get bigger profits, you prefer to choose holding altcoins for few months/years. But, doing daytrading, you will get profits more often. However, sometimes do daytrading isn't that easy. When the market trend changes suddenly, you may have no chance to get profits. How do you deal with this condition? You should have the way to avoid severe losses because of the sudden change in crypto market condition.

Even though mostly peoples love to live with their own way and have their own strategies as well but still if someone wants to have profit surely it's never been easy long term or short term both ways having his own positive and negatives while mostly peoples those love day trading love to stay with long strategies because this give them better profit few surely not agreed with this but still works with not with all coins we need to go usually with stablecoins which are having better use case.

Trading has never been easy while we have to understand fundamentals changes can happen quickly while any negativity can bring the worst things around us so keeping things on track and also have all markets updates quickly always helps crypto is always in limelight and recent changes are surely having need more quick work.

[Alone055]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

That works, but only if the market goes your way. If it goes the other way, you will get your capital stuck. So, for the method you are applying, someone should have back up funds available at all times so that if one of their trades gets stuck and they can't sell them at a loss, they can use the backup funds to make more trades so that they can at least make some profit for the day. If you don't have backup funds, you will have your day wasted, and if the market doesn't go up soon, you won't be able to trade anymore.

Another way to deal with this is using stop-loss, but that is going to cost you because every time your stop-loss is hit, you are going to lose a small percentage of your capital, and then you will be under pressure because you will need to recover the lost amount and earn some profit on top of that. One should never trader under pressure, because when you do that, the chances of you making mistakes will be higher.

Always trade with a calm mind, and make sure that you totally understand what you are doing to avoid excessive and unnecessary losses.

[markm]

You can start into a new asset okay if it dips, as you can start with a column of buy offers sitting there ready to get you into that asset only if it does dip.

Then when one of the assets you do that with does dip you have some of it to start building your column of sell offers in it.

It is true though that once it drops below your lowest buy offer or rises above your highest sell offer you are out of the game until it returns into your range unless you held back some extra funds to get back in with.

Which is why long term it is important to build your buy offers all the way down, and to make sure your sell offers extend far above the highest you imagine price could go in case it surprises you.


-MarkM-

[dunfida]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

If you do daytrading, you shouldn't expect to take very significant profits. If you want to get bigger profits, you prefer to choose holding altcoins for few months/years. But, doing daytrading, you will get profits more often. However, sometimes do daytrading isn't that easy. When the market trend changes suddenly, you may have no chance to get profits. How do you deal with this condition? You should have the way to avoid severe losses because of the sudden change in crypto market condition.

Even though mostly peoples love to live with their own way and have their own strategies as well but still if someone wants to have profit surely it's never been easy long term or short term both ways having his own positive and negatives while mostly peoples those love day trading love to stay with long strategies because this give them better profit few surely not agreed with this but still works with not with all coins we need to go usually with stablecoins which are having better use case.

Trading has never been easy while we have to understand fundamentals changes can happen quickly while any negativity can bring the worst things around us so keeping things on track and also have all markets updates quickly always helps crypto is always in limelight and recent changes are surely having need more quick work.

Everything will really be that totally depends into your preference and with your capability on how you would really be hovering yourself into this market on which it do really comes into a point that you will really be choosing up on what fits for you and whats not. You are the ones will be able to find it out whether you are really that able to deal up with something on your best or something that you will be avoiding because you cant just that able to do. When it comes on making profits then it could neither be short time or long term on which there are ones who are really that wanting or really that needing up to see profits as much as they could. Taking profits is what the main priority on here, it will really be just that differing on how its been done and on the duration on which it is really that happening.

We are the ones who would be hovering ourselves into this market and it is really that recommended that you do really know at least into the things that you are dealing on with. Its not bad to see up others strategies and ways but make it sure that you are really that getting in line with your own approach and consideration on things as well.
Take profits when you do have a chance and then make out some buybacks on the moment that the market will really be having its dips or corrections. So it will really be that up to you on how you would be able to execute things accordingly and also learning will really be that an endless manner.

[Ararbermas]

It's your choice, really.
You just should put a target and stick to it - once it's reached, don't hesitate to pull off from the position.

yep, but of course you must know how and when to dump to don't miss the big event as well.l, i mean don't just select your take profit where in you must know how to make technical analysis to get the right profits and time to withdraw. .i think news about the the project is a must as well 

[AVE5]

Hello,

What is in your opinion the most healthy way to take profits this altseason?

Looking forward to your thoughts!

Merry Christmas.

This isn't an AltCoin season yet because Investors are being more attracted to bitcoin due to the Speculations since last middle last year that before the end of 2024 bitcoin will begin experience market pumps surging to bull run breaking 2025. And of course bitcoin has broken too many Ath within these margins while speculations States that the current bitcoin Ath is just a Shadow to prove how hugely bitcoin price will perform in this new market phase of it bull run.
Hopefully, the AltCoins season will come after this bitcoin investment market dominance will take ease to dip or bear. Then investors could diversify their portfolios to the AltCoins markets and then AltCoins will begin take attractive shape of yielding it investors good profits.
It's advised that whoever investing on AltCoin should study the volatility volume of the coin they're invested on so that they'd neither know when to take profits in a quick outbreak or keep holding in a period because some Altcoins could be good to hold in a long time while some are just good performing in a short time especially the Memecoins.

[fikrett]

It's your choice, really.
You just should put a target and stick to it - once it's reached, don't hesitate to pull off from the position.

yep, but of course you must know how and when to dump to don't miss the big event as well.l, i mean don't just select your take profit where in you must know how to make technical analysis to get the right profits and time to withdraw. .i think news about the the project is a must as well 

You can - know - when to get off the hook, but the events may go differently anyways  So it's better to just do it no matter the case, if the target is reached.

[Lida93]

My way of making a profit is quite simple, namely by buying some good altcoins and selling them with a profit of only a few percent and I always apply this method every day even though I only take a small profit, but if collected from several altcoins that we buy, then every day we can get a satisfactory profit.

With constantly taking of the small profits that adds to the trade each day we could literally gather good amount of profit at the end of the week or month more than those traders who will enter a trade and leave it for a long time waiting for a particular position to be reached before closing the trade with what profits made.  Whereas a number of market fluctuations (ups and downs) must have taken place before price got to reach at the trader's target position. Meanwhile the trader that's satisfied with taking little by little profits would have made good use of those fluctuations to make profits already.

Dealing with altcoins it's very risky to want to hodl any altcoin for a very long period of time except you're doing that with a small sum of money you can freely lose with having to worry.

[woez]

I prefer taking profits incrementally as prices rises, it allows me to secure gains while still leaving room for potential upside. I also like to diversify my profits, moving some into stablecoins or fiat for safety and reinvesting a portion into long term assets

Good art and pattern in making profit, but one thing to remember all need courage in investing in the crypto world, sometimes we like to speculate by occasionally chasing prices, because in conditions up and additional reasons it is also included in the category of our favorite coins/tokens too.

Well, behind all that I think profit comes if the timing is right and the largest percentage is loss where the price will be further depressed if you enter wrongly. Well, from the many concepts that I have learned, one thing that is needed is knowledge and patience if forced to be carried by one's own emotions.