Taking money off the table
When I first started investing in crypto, my intention was to invest a small amount, sit on it for many years and hopefully have a nice pension/nest-egg.
As I spent more time understanding the tech and the real value of some of the cryptocurrencies I started to invest a bit more and began trading across multiple currencies.
Some of the gains have been quite incredible, and you will have noticed my articles highlighting that there is an opinion that we are in a bubble.
I have decided to change my strategy now and start taking some money off the table. If we are in a bubble, then I will be glad that I have if it pops.
As such I have decided to do the following, for every 25% gain in my portfolio I will be taking 5% off. As such, I started the process today of selling off some of my assets. I did this by selling to BTC on the exchange, transferring the BTC to Coinbase and selling for £. I am though leaving the £ in my Coinbase GBP account for now.
By leaving it in my Coinbase account I am able to quickly buy dips in BTC, LTC and ETH.
The 5% for 25% is good because it allows the portfolio to benefit from compound growth.
Removing 25% of my portfolio now has given me back my initial investment + around 125% profit on top. As such, my entire portfolio is now entirely profit, a good place to be.
I know that some of you have achieved over 100% profit since I started this group so you may want to consider something similar.
Any questions, then please do ask.