Published on: 07 Feb 2017
Since a few years I am a passionate follower and investor in Cryptocurrencies.
I started with Bitcoin (BTC), made some profit, found Ethereum (ETH), made even more profits and am now invested in ICONOMI (ICN).
Crypto is exciting and a booming, fast moving market. It moves up fast and hard, crashes again, but in general in a uptrend...
But what is a smart way to take profit?
After some painfull mistakes, the biggest around the DAO hack with Ethereum (I had invested a lot in the DAO and ETH, should have taken more profits during the rise before the hack), I started looking for a good strategy to:
Take profits during a crypto rise, but not sell too much too early (nobody knows where the top is)
The main issues:
A better strategy is to stop guess and start taking profit.
In this great post (SSS) - A Sane and Simple bitcoin Savings plan if found my perfect stategy:
What this basically means:
Sell 3% of your current BTC holdings after every 10% rise
Selling a % of your holdings every fixed % rise provides you key things:
In my example below I sell 3% of my 100 ETH after every 10% rise
IF ETH goes from:
0.01 ETHBTC ($10,53)
0.01948 ETHBTC ($20,52)
We will end up with:
80,80 ETH left and 0,2744 BTC
a total of 1,849 BTC ($1946,85)
A nice and balanced strategy in all, of course you can adjust the % to your wishes!
I created a basic spreadsheet:
SSS - Sane and Simple Bitcoin, Ethereum, ICONOMI and other cryptocurrency Savings plan
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