04-18-2022, 05:58 AM
Is it stupid to not take small profits here and there, or is HODLing no matter what
<!-- SC_OFF --><div class="md"><p>I've never taken out profits and instead DCA'd across many months. My dad has a similar amount invested as me but into different coins. For me it's more serious but for him it's just mostly for a laugh, or if he loses it all it's not going to impact him as bad as it would me. He has taken profits from one or two of his coins several times to a point where it's a nice chunk of change. I never really did because I thought selling now is silly if the market will (over many years) trend up, so the more I hold onto now the better in the long run.</p> <p>Should I have taken minor profits here and there, or just stick to my plan and hold through everything, accumulating through it all? My goal is to make major money (in relation to what I invest), not just enough for a fun weekend and certainly not retire in 10 years. I'm not in desperate need of the money. I think the main reason I avoid taking money out is because the tax headache.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Honeymuffin69"> /u/Honeymuffin69 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u5ssk5/is_it_stupid_to_not_take_small_profits_here_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u5ssk5/is_it_stupid_to_not_take_small_profits_here_and/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I've never taken out profits and instead DCA'd across many months. My dad has a similar amount invested as me but into different coins. For me it's more serious but for him it's just mostly for a laugh, or if he loses it all it's not going to impact him as bad as it would me. He has taken profits from one or two of his coins several times to a point where it's a nice chunk of change. I never really did because I thought selling now is silly if the market will (over many years) trend up, so the more I hold onto now the better in the long run.</p> <p>Should I have taken minor profits here and there, or just stick to my plan and hold through everything, accumulating through it all? My goal is to make major money (in relation to what I invest), not just enough for a fun weekend and certainly not retire in 10 years. I'm not in desperate need of the money. I think the main reason I avoid taking money out is because the tax headache.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Honeymuffin69"> /u/Honeymuffin69 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u5ssk5/is_it_stupid_to_not_take_small_profits_here_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u5ssk5/is_it_stupid_to_not_take_small_profits_here_and/">[comments]</a></span>Kind Regards R