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When do you sell it though? If you had coins from 2011, is now the time to sell? What if it goes up 100x next year.
by SilverRed 6y ago
When do you sell it though? If you had coins from 2011, is now the time to sell? What if it goes up 100x next year.
- dmwallin 6y agoSet yourself a threshold amount that you are okay with a 100% loss on, and a periodic schedule based on your risk-appetite. At each interval if you are above your threshold you sell your excess holdings and if you are below you sit tight. Alternatively you can set yourself a price threshold. For example, sell half your holdings every time the price doubles. Essentially this acts as a log function on your gains in exchange for lowering risk. There's a ton of room for fine tuning a set of rules to manage risk, as long as you are willing to stick to them.
- deleted 6y ago[deleted]
- petercooper 6y agoPersonally I would sell what I'd call the "FOMO holding" once it's worth a "life changing" amount of money. So if I held 100 Bitcoin as such a fund, that might well have been years ago, but then I'd also be retired and not care. The sister comment here is more nuanced and surely a better answer, though.