Taking a small profit – while enjoying the rise of crypto! by exyle

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money · @exyle · Jan 5 '17

$32.45

Taking a small profit – while enjoying the rise of crypto!

I try not to look at crypto prices too much anymore but on days like yesterday, I can’t help myself. I must have checked Poloniex like 30 times. Wow! Everything is rising across the board. This morning I decided to take some profit.

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![me](http://home.kpn.nl/bonge008/BLOG/steemprice/2/1.jpg)

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I have been long enough in crypto that I consider it a personal bad practice for me to try to sell at the top. I can’t do it well and when the dip comes (and it has always come every time) my mind refuses to sell because I could have sold it for more.

# Satisfying my mind
So, I apply the same rules to declining prices as to increasing prices but in reverse. I sell a little bit at the time instead of buying. This tactic has not failed me so far in trading. It will only fail me if this time the rocket to the moon is launched and the prices will never come down. And even then. I still made a profit.

Could this rise be that time? Maybe, but I’m not waiting to find out with all my crypto in my pocket. This is too risky for me. So, I am using my own trading rules so I won’t get distracted.

I am selling on the rise.

Today I sold some Bitcoin and Ethereum. The Ethereum I bought cheap after the whales hack (see: https://steemit.com/life/@exyle/guess-the-bottom-has-started-again-my-thoughts-on-steemprice). And it feels good to take some profit on that (around 40%).

The bitcoin I had for ages but I consider 1100 euro for Bitcoin a lot of money, so to sell some at these prices is great trading.

# What is good trading?

![profit](http://blog.angelbroking.com/wp-content/uploads/2016/05/exit-trade-for-profit.png)

For me, any trade that generates a profit is good trading. Being able to just sit on your butt or while sleeping earning some extra income is fantastic. It’s a lot easier to earn money that way than for instance go to work. (and I love my work!)

The way I trade is a bit on the safe side. With selling and buying gradually you will never earn great profits but you are also protected from big losses. That gives peace of mind. For me, that’s worth something.

I’m glad I don’t have to buy Bitcoin at these prices to get in on the action. It’s way too high for my comfort. I’m selling everything on the way to the top and then it’s over for me. If it comes back down I'll buy back.

# STEEM
The only crypto I would consider buying now is STEEM. It’s easy to get in without too many risks (zero risks actually if you just start creating your own content) and the chance of profits are way higher.

I just see STEEM doubling a lot more easily than Bitcoin. Bitcoin needs another 19 billion dollars to double. STEEM only 40 million. And STEEM is way more than just a store of value. It's an amazing platform with a huge potential for growth.

Anyway. This was just a small inside in how I trade.

Good Luck and Happy trading!

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![signature](http://home.kpn.nl/bonge008/BLOG/signature/signature2.jpg) Follow Me [@exyle](https://steemit.com/@exyle)

👍 dantheman, ned, thejohalfiles, val-b, gavvet, wackou, hendrikdegrote, ericvancewalton, craig-grant, steve-walschot, chitty, jrcornel, exyle, opheliafu, the-alien, leesunmoo, anyx, rea, ezzy, sauravrungta, michaeldodridge, elyaque, dragosroua, chessmonster, gringalicious, shortcut, richman, pollux.one, vcelier, penguinpablo, felixxx, pkattera, onetree, fyrstikken, nspart, funnyman, bryan-imhoff, hilarski, juanmiguelsalas, pairmike, creatr, michaelstobiersk, iflagtrash, matrixdweller, jsantana, steemvest17, generation.easy, beers, kyusho, cryptofunk, ourlifestory, stephenkendal, dreemit, rawnetics, cebymaster, cheetah, judasp, alinamarin, sunscape, drac59, djvidov, awgbibb, mgibson, raluca, and 34 others

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@chessmonster · Jan 5 '17

I think selling 10% or so is smart when prices are going up and it feels right or you need the money because they could come crashing down at any time, too.  No matter what you do, you could end up chastising yourself.  No one has a crystal ball and can say 100% what is going to happen next.

👍 exyle

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@exyle · Jan 5 '17

I think it's always smart to take profit once in a while. For me today felt right and I got lucky. I keep saying that guessing the bottom or the top is impossible.

👍 chessmonster

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@craig-grant · Jan 5 '17

$0.06

crypto to fiat is like flushing money down the toilet, get a bitcoin debit card

👍 ericvancewalton, exyle, matrixdweller

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@exyle · Jan 5 '17

Man! I did a small research into bitcoin debit cards. You just made me put some fiat back into BTC to pay for a Wirex card.  I think it's also possible to top it up with any other popular crypto. That's cool. Thanks for the tip. Should arrive in 1-3 weeks.

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