First of all, don’t be like me. You should always have an exit strategy.
But I don’t. I also actually never sold for any profit.
I came to the point where I would check prices of the coins I hold once in a week. And I would be like “*aaahh, it is going down, I am already at loss…well guess I will have to wait*”.
And then I just wait and HODL.
It happened so many times to me that I lost that feeling of adrenaline when the price goes up or down.
I missed some good profits that way, but I don’t have a crystal ball where I would see the future. Still, I see my mistakes and will try to learn on them.
25 thoughts on “I don’t have an exit strategy. When the price goes down I just stand by, check the price from time to time and literally do nothing.”
Doing nothing is underrated
I have no detailed exit strategy currently… but my general plan at this stage is to accumulate until after the next bitcoin halving (2024)
From then, I will re-asses where I am in life, my investments and make an adjustment then.
Honestly I just don’t want to do taxes.
I wish I would have learned to do nothing when I had 100+ BTC in 2013….
Crypto is my exit strategy
I wouldn’t call holding a mistake. I think you are simply a long term holder and you don’t know it. More than likely you don’t need the money right now, and what little profits you could’ve picked up along the way were too small to care about. Lets say you woke up this morning and saw your X crypto made you $500K. I’m sure you’d take that profit. Continue to give it time and one day the numbers you see might mean a little more to you. Good luck.
My plan is to accumulate crypto until I can buy a house, I’m here for the next 10 years at the very least so yeah. No exit strategy needed right now 🙂
What’s an exit strategy?
I’m holding my cryptocurrencies until:
1. It’s actually regularly used as *currency*, entirely outside the banking system (which was initially *the entire point*, not just “store of value…”). and/or…
2. My holdings are worth serious “fuck you money,” at which point I retire from my salaried job and work on what I want to work on, etc. or…
3. It’s worth zero, and regarded as a joke, at which point I stop paying attention to it (but still hold it, I guess).
Ah shit I’m down 10%. It will go back up I’m sure. Whoops.. down 25%. I should’ve sold and bought back in! FACK!! Down 61%.. everything’s fine I’ll just delete the app.
When you lose the adrenaline and become numb to price moves is when you will start making some real money
It’s passive income, why give it away?
Does holding until I have enough money to do something significant with it count as an exit strategy?
When i see a dip in the market i instantly grab some popcorn and watch this subreddit community burn
Death is the exit strategy, hodl 😉
Isn’t this basically HODLing?
Wait…people have exit strategies?!
What is an exit strategy?
My exit strategy: HODL until you can pay with it!
I take profit on my alts but never on Btc
2028 halving, then I’ll reevaluate.
Real HODLers are not too common in the Crypto space
IRS just said they’re not going to tax staked rewards. So my strategy is build crypto, stake crypto, and then take loans out using my crypto as collateral to buy stuff. Key idea here is to pay no taxes. This strategy involves only buying into projects that have yield and real utility (no shit coins).
I only hodl. I thought that’s what we’re doing here
I lost out in hundreds of thousands with this strategy. Be wary.
I was just like you. It is never wrong to take profits! Consider taking profits next time you have any, just sell some for stablecoins and then stake your stables or exchange them for fiat and park it in an index fund. Remember it is almost impossible to time the market and Hodling only applies to serious projects or blue chips (not financial advice dyor).