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What's your profit strategy?


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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 strategy?

hold until i either make $10 million or lose my entire investment. there really is no other option. I'm not playing the game of sell 4.32% at $5... etc. no one is going to really follow that plan when it comes time

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My strategy is to buy more! We will never see such low prices again.

Step 1 - buy xrp Step 2 - ??? Step 3 - profit

The answer to everything is 42

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1 hour ago, bluedalmatian said:

Try Bitstamp. Unfortunately those of us in the UK are still stuck with coinbase as AFAIK they are the only ones to do GBP directly

I would hope that isn't the case but could do with someone confirming? Who's cashed out a decent amount to GBP? 

I've got a EUR account with my Revolut so was hoping I could get any exchange to sell xrp to EUR then send to my EUR revolut to instantly transfer back to GBP. 

 

Is that a thing because if its not I'm going back to the drawing board. 

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On 9/25/2018 at 6:09 PM, XRPto50dollars said:

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:

 

 

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.

Exactly this has been on my mind for some time. I'm fully with all the points you made here. But I stopped worrying after realizing what impact XRP could have in society after passing $ 100. It's not hard to imagine payments being accepted in XRP from consumers to banks. Suppose XRP has risen to $ 500 and you have a $ 200 k loan on your house you want to get rid of. By then, it will take 'just' XRP 400, by the way. Probably you can transfer your XRPs directly to the bank as they will be using XRP every day, without needing to convert your XRPs into fiat money. This solves the problem at the trading platforms as foreseen. You want to cash out on XRP? Just transfer them to your local bank by then.

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26 minutes ago, DucPeter said:

Exactly this has been on my mind for some time. I'm fully with all the points you made here. But I stopped worrying after realizing what impact XRP could have in society after passing $ 100. It's not hard to imagine payments being accepted in XRP from consumers to banks. Suppose XRP has risen to $ 500 and you have a $ 200 k loan on your house you want to get rid of. By then, it will take 'just' XRP 400, by the way. Probably you can transfer your XRPs directly to the bank as they will be using XRP every day, without needing to convert your XRPs into fiat money. This solves the problem at the trading platforms as foreseen. You want to cash out on XRP? Just transfer them to your local bank by then.

more than likely this will occur, i agree. it will be interesting to see, 10 years from now, how many people here come back and say, "I cant believe i sold my XRP at $50 when its now at $1,000 and i could have just transferred it to my bank!"

 

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Recently I've made some changes to my cashout plan. I was going to hold until the price was 100€ per xrp before selling any, but decided not to be greedy. So I'm going to sell 25% when it hits 10€ and free my self from all dept besides mortage, then 50% at 30€ and pay back the mortage + little bit of play money and leave the remaining 25%+everything I manage to scoop up before XRP gets to 10€ waiting for those 100€+ prices that we hopefully see one day.

When I started this investing journey I was dept free and had no liabilities. Today it's not like this anymore and therefore had to adjust my strategy accordingly. 

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On 9/25/2018 at 12:30 PM, stevo7790 said:

It was your Heikin guide that lead me to joining here, so your input is more valuable to me than you may realise :) so I feel quite privileged that you quoted me lol :D

Thanks much! Glad you were able to get something out of it

 

 

On 9/25/2018 at 1:25 PM, 2ndtimearound said:

 I did cash out successfully in late January this year.  It was fairly painless.  My advice to people is super-super simple: if you've never cashed out, goddamn do it! Cash out even 1% of your holdings when you get in profit.  Go through a test run.  You'll feel better for it. 

good advice, and please dont reveal personal info here.. but did you cash out a huge amount?the problem with Bitstamp isnt in cashing out average amounts of $10,000 - $50,000. its when XRP skyrockets and people try to cash out $100,000 to $500,000 at a time. ive heard from several sources bitstamp puts impossible to fill KYC holds on accounts.

 

 

On 9/25/2018 at 3:24 PM, Moonraker said:

Correct me if I'm wrong. If, for example,  XRP rockets very quickly to $5, would we not see a massive amount of people undercutting one another when selling on exchanges? 

So if the price is $5 and we have that many people trying to sell huge amounts, the sell price could well be $1 as everyone will want to reap profits.

i agree. if someone here earns $30,000 a year and their account is showing $1.5 million.. i would image at least some would take the loss and sell low in order to make a profit. and theres nothing wrong with that. if you make $100,000 off XRP.. thats an amazing investment.

 

 

18 hours ago, ManBearPig said:

1) Recover Initial Investment in 3-5 dollar range.

2) Take incremental profits in dozens of smaller withdrawals medium-term.

3) Leave a sizeable stack for long-term growth retirement dream money.

Repeat steps accordingly if it doesn't make it to all three levels.

For as much as Coinbase gets a bad reputation around here, is there any better exchange to transfer your zerps to when cashing out into the bank (USA). 

some people are saying to use an  over the counter exchange although its muddy waters for me right now..

 

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On 9/27/2018 at 6:47 AM, XRPto50dollars said:

more than likely this will occur, i agree. it will be interesting to see, 10 years from now, how many people here come back and say, "I cant believe i sold my XRP at $50 when its now at $1,000 and i could have just transferred it to my bank!"

 

This is why I think we all will benefit from stable and controlled growth. When XRP's value explodes overnight and rockets to triple figures on a short term, there will be no infrastructure for cashing out and indeed trading platforms will implode. But when XRP's value rises towards these kind of figures in a steady way over a period of years all parties involved have the time and opportunity to adapt their systems and ways of working with it. And personally I don't have a problem with working 3 more years when the probability of cashing out safely is a hundred times better than it is now.

Edited by DucPeter
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On 9/26/2018 at 10:07 PM, Campo said:

I would hope that isn't the case but could do with someone confirming? Who's cashed out a decent amount to GBP? 

I've got a EUR account with my Revolut so was hoping I could get any exchange to sell xrp to EUR then send to my EUR revolut to instantly transfer back to GBP. 

 

Is that a thing because if its not I'm going back to the drawing board. 

Hmmm... a few weeks ago I would have answered: as an EU citizen you could use eToro and paypal. As EU citizen your investments are protected (50.000 EUR)...

But in the end: you could use eToro and paypal. Etoro is converting GBP, EUR INTO USD without an exchange fee

 

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Cash out the original investment at $10. 

The rest can ride to 2021. Giving it 4 years altogether to see where it goes. I started investing in November 2017. 

$30 would be life changing for me though so if it managed to reach anywhere near that I would be tempted to cash large amounts out. 

Would never cash out everything though! ?

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