First things first I would like to start by saying. Don’t thank me if you make money. Don’t blame me if you lose money. I try and present you with useful information that I think is going to add value. But it is totally up to you on what action it is to take.
If you’ve been following me for any time you’ve probably noticed. I talk of ICO’s all the time but I talk highly of almost none.
Most ICO’s I invest in are for the long term. I can’t say I’ve ever invested in an ICO to make a quick buck. Some people do just not my style.
I invest in coins that I believe are legit and have long term potential.
Just recently I decided to invest in L-Pesa and also Credits. You can find these reviews below.
ICO Waiting Game
A question I get all the time. How do you take profit with an ICO when it hits the exchange???
Lets say I get into a new ICO. First thing I do is get my tokens. Whether an ICO has a bonus or not I am always personally investing in that token.
After you purchase tokens it’s usually the same thing. You have to WAIT until the ICO is over to get them. Some ICO’s sell out in 10 minutes. Some ICO’s take weeks to sell out. Some never reach their hard cap.
Regardless of what happens with the token you have to wait until the company releases them to your wallet.
Now lets say XYZ company releases your tokens and they send them over. Now what?
Again you have to wait a bit. The company will apply to different exchanges. You really can’t do anything until that happens. It’s a waiting game.
Sometimes it takes days for it to get listed. Sometimes it can take weeks. Some never make it to an exchange.
Usually if you choose a good coin with a good team behind it you’re usually ok. But I have to say nothing is 100% in anything. It’s about taking calculated risk to have more Wins then Losses basically.
ICO Hits Exchange Now What?
Ok lets say that token hits the exchange. Now it’s considered a coin. I’m not really sure why that is. Probably something legal but not 100% sure.
Now it’s time to watch that coin very closely. Sometimes they can increase in value fast sometimes not. Depends on coin. Sometimes your coin goes to an exchange you’re either not on or you don’t trust. I really hate when that happens.
I’ve had situations where my coin 10X and I couldn’t take any profit because I didn’t like the exchange it was on. Most companies will give you a heads up what exchanges they applied to. That way you can get on a few of them and be ready.
Lets say all the stars are aligned. Your coin hits your favorite exchange. You got your finger on the button. Now what?
Personally 9 times out of 10 I wait until my coin does a 3X then take profits. So if my coin goes from .10 cents to .30 cents that’s a 3X and I’m usually going to take out my initial investment.
So lets say I invested 10k into XYZ coin. I wait until it goes to 30K. That’s a 3X. I will take out 10k which is my initial investment. Then I’m going to leave 20K in profits for a long term hold.
Now I’m going to take that 10k and invest it into a new ICO.
ICO – What To Do With Profit
At this moment I am taking all profits in Ethereum not Bitcoin. Maybe if Bitcoin is forking or some news came out but mainly I’m taking profits in Ether.
So basically I’m investing in ICO’s to make more Ether. I really believe Ethereum is going to be “The Coin” in 2018. Just personal preference.
Lets go back to that 20k XYZ long term coin. When is the next time you should take profit after the initial 10k you pulled out?
There is no perfect way to do this. But rule of thumb I’m taking about about 10% every time that coin does a 2x again. So lets say it goes from .30 cents to .60 cents. Then I sell another 10% and flip it into another ICO.
So basically that 20k became 40k because it doubled. I took out 10% which is 4k and flipped it into a new ICO.
From $1.20 to $2.40 and so on.
ICO – Be An Independent Thinker
It’s never perfect but I try and follow my system as best I can. Obviously if a coin goes crazy and I don’t catch it right away it’s fine. I like to follow my system. In the beginning when I didn’t understand much it was much more random and arbitrary.
Personally I like to have rules in place that make sense.
Lets take a real life example. Lets look at ArcBlock a recent ICO. A lot of people gave it very high ratings. As did I. However some FUD came out. Usually when that happens I just adapt.
What I do is downsize a bit. I don’t want to miss an opportunity because some people are spreading fear, uncertainty and doubt. I will still invest just not as much.
With ICO’s sometimes you have to be an independent thinker. Don’t just follow the HYPE train or the FUD train in this case. Don’t follow the heard.
You can also pull our your investment sooner. Let it ride a bit and jump off that wave a lot sooner.
Hope this helped you out a bit. Wishing you a pleasant morning, day or evening. Wherever you are. And best wishes for an even better tomorrow.
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