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Pauldb1806

Cashing Out

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Hi guys,

What are your plans for selling once we actually have a a full on parabolic bull run. The general consensus of opinion is that we will hopefully get up to $25-30, but who knows for sure, do you cash out a small % and hope for a moderate correction down to say $15-20 or do you pull 80-90% out and hope for a massive drop off and back into a bear market again and we've dropped down to $2-3. Just interested to hear people's thoughts. 

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Everyone's plan will be different.  Most people will not follow their plan even if they told you what they plan on doing.  I think the smart thing to do is dollar cost average on the way in and dollar cost average on the way out.  Recover you initial investment at lower prices, even if people are telling you that you are crazy to sell so soon.  Have periodic withdrawals from there to help your financial security and financial independence, and of course leave a ultra-long bag on the table for years to come.  That is a broadly painted picture of it.

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Many people won’t follow through on their own plan though. If someone was originally planning to sell 25% at $10 and the price actually shot up that high, they would probably hold on hoping it would go to $20, $30, ect. It’s the exact same mental defect that causes people sell when the price drops. We’ve all seen those conversations on here.

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Always going to hold 1000xrp incase it reaches $10,000 At some point in the distant future (20years+). You just never know. 

$20 clears mortgage and all debts puts money aside for children.

$50 is retirement money (same wage I’m on now) if can get a safe 4% investment. 

$100 makes me a millionaire and live a much higher standard of life.

fingers crossed, although I think 2025 before we get a sniff of $20 let alone $100.

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5 hours ago, ManBearPig said:

Everyone's plan will be different.  Most people will not follow their plan even if they told you what they plan on doing.  I think the smart thing to do is dollar cost average on the way in and dollar cost average on the way out.  Recover you initial investment at lower prices, even if people are telling you that you are crazy to sell so soon.  Have periodic withdrawals from there to help your financial security and financial independence, and of course leave a ultra-long bag on the table for years to come.  That is a broadly painted picture of it.

This, exactly... I wish I had pulled my initial investment during the last bull run, it would be nice to have a free ride ;)

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32 minutes ago, Sponger101 said:

If you pull out your initial investment, what would you do with it?? I'd be too tempted to chuck it all in again as the price re-traces.. Probably too early too!

Good point, I'd also be tempted to put it back in... I've only bought under 30¢ so if it went back there I would probably buy more :D

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Posted (edited)
44 minutes ago, GiddyUp said:

Good point, I'd also be tempted to put it back in... I've only bought under 30¢ so if it went back there I would probably buy more :D

I think I will take out my purchase expenses to date at about 5 -  10 dollars in stages, but leave the money on the exchange.  If the XRP price goes on rising I will push the money back into my bank account and have a holiday.  If the price of XRP drops back immediately after I have withdrawn itn it,  I will repurchase more XRP at a lower price to increase my holdings and wait for the next rise. 

I think once XRP proves its utility the speculators will arrive in a steady stream pushing the price up and up.  Adoption will happen over many years so the thrust will just go on building over the long adoption period, and perhaps there will not be any more crypto winters for XRP.  But this utility driven speculation might not have arrived yet.  We may have to wait a few years more before adoption proper drives the price up to $50 plus.

But none of this has happened yet.  My account is still 10k in the red. 

Edited by Julian_Williams

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1 minute ago, Julian_Williams said:

If the XRP price goes on rising I will push the money back into my bank account and have a holiday. 

Good idea! My first original purchase of XRP came from a skipped vacation :D

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Posted (edited)
46 minutes ago, Julian_Williams said:

But none of this has happened yet.  My account is still 10k in the red. 

10k in the red ? you bought at high price ?

Edited by Baka

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8 minutes ago, Baka said:

10k in the red ? you bought at high price ?

#metoo. Today's rise almost took me to breakeven.. I did have a wry grin when a "cashing out" topic appeared at the first sniff of a price increase :wacko2:

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35 minutes ago, Baka said:

10k in the red ? you bought at high price ?

It is low compared to where it was last week.  The only way to lose it would have been to start jumping on to a horse I knew to be lame in the expectation I might might gain something.  I have never put the money at risk. Everyone who sticks solidly to XRP will be a winner (not financial advice, just how I see it)

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