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nicktemple

What's your profit strategy?

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1 hour ago, pumpndump said:

Different strokes for different folks we all are at different life stages.

$3 would pay off (all debt student loan included)

$6 would pay off all debt including house

$10 well added with my current investments Im not sure I would work anymore. Wife will always work she actually likes it lol feels productive.

 

That would be amazing. I am impressed with everyone that got in at the right time and held. 

I got in late, after the ATH. I was aware of things and was trying to get into the market prior to the run-up, but had major issues getting verified. I am educated enough (no offense to anyone but I have been in different markets for years) to know enough not to buy on the way up. 

Started to accumulate at $1.50 and have been buying since. For me to hit ‘life changing’ money, XRP would need to hit $200. $50 would pay off my mortgage (which is pretty huge actually...so I guess that’s life changing in some ways). If I continue to accumulate now then maybe those numbers come down....but emotionally I have a hard time buying above the floor even if it would bring my average down (my average is around $.60 nowadays). 

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12 hours ago, Bmatt44 said:

The answer to everything is 42

apart from when you need a number for your username to comply ....in which case the answer is 44 .

 

 

To the question however, i find this a tough one and if im honest i currently have no exit strategy. 

im lucky enough to have been aware of XRP through this bear market which allowed me to slightly more than quadruple my stack from what it was during Decembers run. i now feel i have risked enough cash for now until i have rebuilt my fiat position (likely complete this by years end). my plan at the moment is to review my position December 2020 but that by no means suggests i would be prepared to part with any at that point. 

I have mentally disregarded what i have in XRP to the point where i would not include it in my current savings/investment make up. simply due to one day it being worth say 1 million and the next it could be worth 10 cents! ?

 

in my mind im screaming "HODL TO 1K" then in a realm of reality could i seriously hold pass say $10, which would be more money than anyone in my family has ever had ownership of outside of the value of their homes. basically im just gonna keep holding on until my body and mind can take no more ! and hopefully at that point have enough money to just chase what excites me !  

 

Edited by Westy

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8 hours ago, Benchmark said:

I'm playing the long game like explained by @XRPto50dollars and Brad Garlinghouse, 3 to 5 years.

My mind is set on evaluating in 2023 and deciding how much to sell. In the meantime I just accumulate every month, if XRP goes so high that accumulating much more (in terms of percentage added to stack) becomes difficult, I'll switch to simply holding, learning about the IoV and perhaps looking for other opportunities that have popped up in the meantime. As attractive as trading looks, I know I'm not that smart and disciplined to make that a success. 

Obviously, if things go apeshit again like in 2017, my planning may get cut by a few years, but I'm prepared and not worried to hold for a long time.

This 100%  Avocado all the way! :) 

May cash out enough to cover my initial investment the 1st time we touch $10 and treat the family to a holiday.

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On ‎9‎/‎22‎/‎2018 at 8:48 PM, nicktemple said:

In 2017 I purchased xrp at .024 watched rise to ATH in Jan then watched it fall. HODLing all the way, now I wish I sold some so I could have increased my holdings without having to inject more cash.

So I have come up with this strategy.

Once xrp passes $2.50

I will use a 15% stop loss.

And a 5% buy in.

That way if it falls fast again, I wouldn't loose heaps, plus if it move higher I will get back in at 5% from the lowest point it falls 

What is your strategy?

You're brave at those %s.  This market vacillates so rapidly in both directions that I'd be afraid to losing out to trading fees if I put 5%-15% boundaries on things.  As is I'm just hodling until I hit my cash out timeline, or I'll cash in 90% if it turns me into a multimillionaire.

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On 9/23/2018 at 6:40 AM, Benchmark said:

I'm playing the long game like explained by @XRPto50dollars and Brad Garlinghouse, 3 to 5 years.

My mind is set on evaluating in 2023 and deciding how much to sell. In the meantime I just accumulate every month, if XRP goes so high that accumulating much more (in terms of percentage added to stack) becomes difficult, I'll switch to simply holding, learning about the IoV and perhaps looking for other opportunities that have popped up in the meantime. As attractive as trading looks, I know I'm not that smart and disciplined to make that a success. 

Obviously, if things go apeshit again like in 2017, my planning may get cut by a few years, but I'm prepared and not worried to hold for a long time.

..with CSC as backup

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On 9/22/2018 at 9:48 PM, nicktemple said:

In 2017 I purchased xrp at .024 watched rise to ATH in Jan then watched it fall. HODLing all the way, now I wish I sold some so I could have increased my holdings without having to inject more cash.

So I have come up with this strategy.

Once xrp passes $2.50

I will use a 15% stop loss.

And a 5% buy in.

That way if it falls fast again, I wouldn't loose heaps, plus if it move higher I will get back in at 5% from the lowest point it falls 

What is your 

 

Edited by KickingHorse

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Can you really commit to a profit strategy? I personally have many different exit points and there are so many factors to that. 

Let's say you have 10k XRP and are waiting for $100 to get your million...Lets say in 2 weeks it goes up to $100 and the news is positive and wide adoption sets into place, the following week XRP is $300 and you sold at $100. (yeah yeah nobody knows what's possible with price per XRP, this is not an argument about price speculation). I've reached my stack goal but I'm trying to grab a few more XRP so that if we do see $10 EOY I'll get my initial investment back...

 

I have short term and long term plans but it really depends on things like...

1. Crypto News

2. Movement/Trends (Short term and Long term)

3. Current price 

4. Utility

5. Volume

6...7...8...and so on

 

Ideally $589 sometime in the next 3 years and I'm 100% out

 

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I'll use £ as I'm a brit lol

@£50 per XRP I'll know I can retire but I'll carry on working and have some sort of super car and a big house

@£100 per XRP I'll retire and live very very comfortably

@£150 per XRP I'll retire and sun bathe for the rest of my life

@£200 per XRP I'll retire and sun bathe and so could my parents/close family

@any higher to be honest I'll be beyond caring then... if it went to £1000 an XRP for example well I dont think I can articulate what that would mean, but I'll be very very happy lol!!

 

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6 minutes ago, XRPLearner said:

 

Let's say you have 10k XRP and are waiting for $100 to get your million...Lets say in 2 weeks it goes up to $100 and the news is positive and wide adoption sets into place, the following week XRP is $300 and you sold at $100. (yeah yeah nobody knows what's possible with price per XRP, this is not an argument about price speculation). I've reached my stack goal but I'm trying to grab a few more XRP so that if we do see $10 EOY I'll get my initial investment back...

 

 

This is kinda where I'm at too

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This does raise an issue though, imagine if XRP mooned, no scrap that it ballooned to something ridiculous, and it did do this before EOY, the reason I use this as an example is that it is extreme, the problem lies in  withdrawing it. The way the markets are at the moment all currency would rocket upwards, everything would rise, the majority of the exchanges would crash, you have people scammed left right and center, it would be total carnage. People will be all to familiar with the rocket in Bitcoin and I dare say are prepared rip off others. How on earth do we withdraw to fiat lol! if you went from xrp to btc, there is the potential for the price of btc to drop and we would lose out there too.

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41 minutes ago, stevo7790 said:

This does raise an issue though, imagine if XRP mooned, no scrap that it ballooned to something ridiculous, and it did do this before EOY, the reason I use this as an example is that it is extreme, the problem lies in  withdrawing it. The way the markets are at the moment all currency would rocket upwards, everything would rise, the majority of the exchanges would crash, you have people scammed left right and center, it would be total carnage. People will be all to familiar with the rocket in Bitcoin and I dare say are prepared rip off others. How on earth do we withdraw to fiat lol! if you went from xrp to btc, there is the potential for the price of btc to drop and we would lose out there too.

i admit im an annoying realist when it comes to exit strategies and agree when XRP skyrockets, its going to be a free-for-all trying to get profits out. exchanges will crash, people will scramble to create accounts, others will make careless mistakes (probably me) and input the wrong address... its going to be a mess; exacerbated when the people having a hard time read posts from people who "had no problem at all and are bathing in hundred dollar bills". 

one reason many didnt sell was due to taxes during the last run. they didnt have an exit strategy in place for paying taxes next year on $600,000. theres a saying going around, "Itll be a nice worry to have someday (trying to figure out how to get millions out), but i dont agree. its not going to be nice. if people are freaking out at a $3 down to .25 cent drop, will they have the mental stability and emotional drive necessary to deal with the stress of trying to gain access to $1 million? its very 'comfortable' when the price drops because theres nothing really to do. its when the price runs is when it gets tough.

one possible safe(r) way to exit XRP would be to follow Jim Lovell's quote when we returned from the failed Apollo 13 mission:

 

Quote

 

 Our mission was called "a successful failure," in that we returned safely but never made it to the moon.

 

 

if someone's exit strategy is to sell when they have $2 million paper profits... cut your profits back slightly and sell at $1.8. most people try to sell at pretty round numbers creating a bottleneck in sale orders. by selling slightly lower, youre getting out BEFORE the rush. would it actually work? no clue. in theory it seems plausible.

Edited by XRPto50dollars

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