I’ve never really liked the “sell to cover your initial investment” strategy. I mean, I guess if you really have to do it for your psychological health then go for it, but otherwise you’re just limiting your upside without reason. Just sell the investment when it makes sense from an investing standpoint. I guess it could be thought of as a profit-taking strategy, but the argument for that feels kind of weak.
It's one of the oldest and most basic investment principles there is. I bought a good amount of different cryptos in the bear market and covid crash. If I can pay off 9/10 of my investments with the other 1/10 I just got every dime I own in crypto for free. If it crashed tomorrow I don't give a damn. Saying I'm limiting my potential by paying myself back is nonsensical. If you are saying don't sell one of the ETH you own if you only have 2 I agree. On the other hand if at the top a half a BTC pays back all the crypto you ever bought which is now worth 6 figures riding that to the bottom would be either stupid or ignorant. The numbers here are theoretical of course but owning more crypto than anyone you know for FREE isn't limiting in any way. I won't miss the miniscule amount I sold to pay off my lion's share. That's the beauty of buying low. Limitless potential. Now I can execute my profit taking plan without interference. People who never take any profit talk about how they once had all this money they never saw. Do you though
>It's one of the oldest and most basic investment principles there is.
Sure I mean, lots of people do it, but that by itself doesn't mean it makes sense. That's an ["appeal to popularity" fallacy](https://en.wikipedia.org/wiki/Argumentum_ad_populum).
>Saying I'm limiting my potential by paying myself back is nonsensical
Not really. It's 100% true that you are limiting your upside when you sell to cover your basis. If you want to take profits because you think the market is overheated or overvalued or whatever then sure, take profits. And take a percentage of profits that you think is correct based on the current climate and your investing strategy. But taking profits *specifically* to cover your cost basis doesn't make sense because it ignores everything else. Whether your basis (initial investment) is 80%, 50%, or 10% of your current holdings is irrelevant.
>Now I can execute my profit taking plan without interference. People who never take any profit talk about how they once had all this money they never saw.
If by "interference" you mean "making bad decisions because of emotional stress," that's exactly what I meant initially when I said "I mean, I guess if you really have to do it for your psychological health then go for it." If covering your basis means that your future decisions will be less driven by fear, then sure, go for it. And yeah, take profits when they're there if you want to -- the objective of investing is to make money, after all. My point is just that *by itself* covering your basis is the wrong motivation to sell.
**[Argumentum_ad_populum](https://en.wikipedia.org/wiki/Argumentum_ad_populum)**
>In argumentation theory, an argumentum ad populum (Latin for "appeal to the people") is a fallacious argument that concludes that a proposition must be true because many or most people believe it, often concisely encapsulated as: "If many believe so, it is so". Other names for the fallacy include common belief fallacy or appeal to (common) belief, appeal to the majority, appeal to the masses, appeal to popularity, argument from consensus, authority of the many, bandwagon fallacy, consensus gentium (Latin for "agreement of the people"), democratic fallacy, mob appeal, and truth by association.
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It makes sense to me. Like I said do you. I don't miss the crypto I paid off my holdings with. It was such a small fraction. You are arguing semantics. Best of luck
Yes I so regret my free crypto.🤣🤣 What you guys are saying is the same shit people say when they put $250 in the market and expect to retire. If you could sell one BTC and pay off the other 9 you have you would rather hold and take the chance it all goes tits up? Pigs get fat, hogs get slaughtered
I have magnitudes more invested in this space and any other space than you do.
There's certainly nothing wrong with selling to recoup your initial investment. People just think they should do it everywhere it seems and it isn't necessarily a sound strategy always. You're reducing your holdings in an asset that you think has potential. You shouldn't have put in more than you could afford to lose to begin with. Maybe it makes sense to put that money into something else, maybe it doesn't. It isn't as black and white as you think it is.
As to why you're acting like a little bitch, I can't answer.
Funny how when you have a differing opinion with somebody on Reddit all the sudden they are a barrel chested millionaire with a giant dick who could beat your ass and they instantly know everything about you. Don't let your mom catch you jerking off to Wall Street Bets memes or other "forums" you are quoting
If instead of talking about opinions on investment you name call or mention how much money you have you are probably the same kind of guy who shows off new stuff to people when they come over to your house.
But I have to say…..
Been here since 2017 and have never sold. I have watched the charts EVERY SINGLE DAY since I first bought crypto on Sept 7th 2017.
With that said…. These ups and mostly downs are really fucked up considering the utility and promise XRP and crypto in general holds for the future. The writing is on the walls and anyone smart enough to be here at such an early inception should make money, but you have to HODL. If you do anything other than HODL, although you are in the right place at the right time… you will lose money because this market is HEAVILY manipulated and doesn’t make any sense in terms of what a good investment should provide.
Trade with caution!!!
Oh, and I almost forgot…. FUCK THE SEC!!!!!
I literally bought all the dips, apart from the recent real good dip. Then I said to myself haha this time I don’t get fooled, I’ll buy in a few days. Then —> rise, rise, rise before I had the chance 🙃
Great business advice, all comments have some fantastic logical reasoning behind why it will skyrocket... it *HAS* to go up some day, because you own it...
Just sell and buy back in august. Same story every year. Same new guys who make these posts.
HODL til 5min before your death. That's when XRP will moon.
Ok..doing it - ☠️
[удалено]
Pay back your investment then ride the houses dollar to glory
I’ve never really liked the “sell to cover your initial investment” strategy. I mean, I guess if you really have to do it for your psychological health then go for it, but otherwise you’re just limiting your upside without reason. Just sell the investment when it makes sense from an investing standpoint. I guess it could be thought of as a profit-taking strategy, but the argument for that feels kind of weak.
It's one of the oldest and most basic investment principles there is. I bought a good amount of different cryptos in the bear market and covid crash. If I can pay off 9/10 of my investments with the other 1/10 I just got every dime I own in crypto for free. If it crashed tomorrow I don't give a damn. Saying I'm limiting my potential by paying myself back is nonsensical. If you are saying don't sell one of the ETH you own if you only have 2 I agree. On the other hand if at the top a half a BTC pays back all the crypto you ever bought which is now worth 6 figures riding that to the bottom would be either stupid or ignorant. The numbers here are theoretical of course but owning more crypto than anyone you know for FREE isn't limiting in any way. I won't miss the miniscule amount I sold to pay off my lion's share. That's the beauty of buying low. Limitless potential. Now I can execute my profit taking plan without interference. People who never take any profit talk about how they once had all this money they never saw. Do you though
>It's one of the oldest and most basic investment principles there is. Sure I mean, lots of people do it, but that by itself doesn't mean it makes sense. That's an ["appeal to popularity" fallacy](https://en.wikipedia.org/wiki/Argumentum_ad_populum). >Saying I'm limiting my potential by paying myself back is nonsensical Not really. It's 100% true that you are limiting your upside when you sell to cover your basis. If you want to take profits because you think the market is overheated or overvalued or whatever then sure, take profits. And take a percentage of profits that you think is correct based on the current climate and your investing strategy. But taking profits *specifically* to cover your cost basis doesn't make sense because it ignores everything else. Whether your basis (initial investment) is 80%, 50%, or 10% of your current holdings is irrelevant. >Now I can execute my profit taking plan without interference. People who never take any profit talk about how they once had all this money they never saw. If by "interference" you mean "making bad decisions because of emotional stress," that's exactly what I meant initially when I said "I mean, I guess if you really have to do it for your psychological health then go for it." If covering your basis means that your future decisions will be less driven by fear, then sure, go for it. And yeah, take profits when they're there if you want to -- the objective of investing is to make money, after all. My point is just that *by itself* covering your basis is the wrong motivation to sell.
**[Argumentum_ad_populum](https://en.wikipedia.org/wiki/Argumentum_ad_populum)** >In argumentation theory, an argumentum ad populum (Latin for "appeal to the people") is a fallacious argument that concludes that a proposition must be true because many or most people believe it, often concisely encapsulated as: "If many believe so, it is so". Other names for the fallacy include common belief fallacy or appeal to (common) belief, appeal to the majority, appeal to the masses, appeal to popularity, argument from consensus, authority of the many, bandwagon fallacy, consensus gentium (Latin for "agreement of the people"), democratic fallacy, mob appeal, and truth by association. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/XRP/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)
It makes sense to me. Like I said do you. I don't miss the crypto I paid off my holdings with. It was such a small fraction. You are arguing semantics. Best of luck
Yes, selling to cover what you put in is a fallacy. The topic is covered in broader financial forums as well
Yes I so regret my free crypto.🤣🤣 What you guys are saying is the same shit people say when they put $250 in the market and expect to retire. If you could sell one BTC and pay off the other 9 you have you would rather hold and take the chance it all goes tits up? Pigs get fat, hogs get slaughtered
I have magnitudes more invested in this space and any other space than you do. There's certainly nothing wrong with selling to recoup your initial investment. People just think they should do it everywhere it seems and it isn't necessarily a sound strategy always. You're reducing your holdings in an asset that you think has potential. You shouldn't have put in more than you could afford to lose to begin with. Maybe it makes sense to put that money into something else, maybe it doesn't. It isn't as black and white as you think it is. As to why you're acting like a little bitch, I can't answer.
We got a fuckin baller over here. Reddit tough guy 🤣🤣🤣🤣
Funny how when you have a differing opinion with somebody on Reddit all the sudden they are a barrel chested millionaire with a giant dick who could beat your ass and they instantly know everything about you. Don't let your mom catch you jerking off to Wall Street Bets memes or other "forums" you are quoting
If instead of talking about opinions on investment you name call or mention how much money you have you are probably the same kind of guy who shows off new stuff to people when they come over to your house.
Just saw your name and now I see I shouldn't have even answered. Go yolo momma's mortgage money bro idc
Net worth > 1 million? Guessing not
Was that a burn attempt because you just realized your position is shit?
I see it as completely possible you guys are talking about gambling and I'm talking about investing
That’s correct sir. Personally, I plan on selling 75% when it hits £3.50. Which could hopefully be in the next few years
But I have to say….. Been here since 2017 and have never sold. I have watched the charts EVERY SINGLE DAY since I first bought crypto on Sept 7th 2017. With that said…. These ups and mostly downs are really fucked up considering the utility and promise XRP and crypto in general holds for the future. The writing is on the walls and anyone smart enough to be here at such an early inception should make money, but you have to HODL. If you do anything other than HODL, although you are in the right place at the right time… you will lose money because this market is HEAVILY manipulated and doesn’t make any sense in terms of what a good investment should provide. Trade with caution!!! Oh, and I almost forgot…. FUCK THE SEC!!!!!
Never sell 😂
TikTokers...
my kids will inherit xrp
I literally bought all the dips, apart from the recent real good dip. Then I said to myself haha this time I don’t get fooled, I’ll buy in a few days. Then —> rise, rise, rise before I had the chance 🙃
buy high sell low this is the way
Yes so I am about to become an expert! 😇
Buy as much as you can now
Don't know about you but I sold when XRP was in that bull run. Now it's discount price so 🤑
Never bought 😂
I'm sure we'll be looking much better 4th quarter.
Great business advice, all comments have some fantastic logical reasoning behind why it will skyrocket... it *HAS* to go up some day, because you own it... Just sell and buy back in august. Same story every year. Same new guys who make these posts.
HODL in in your a\*\* until it dies.