Altucher's Crypto Trader VIP dan repost
[Video Update] Taking Profits
I have a brand-new video update ready for you. And I’m also including a write-up (below) on the specific actions I discuss in the video. I recommend that you view both.
In the first part of this write-up let’s review the 10% rule for taking profits in crypto.
The 10% Rule
When a crypto doubles, it’s time to start taking profits. You can make a lot of money in a bull market frenzy and still own most of the crypto itself.
We have three positions in our portfolio that have doubled or nearly doubled if you bought during our initial recommendations, discussed below.
Here’s what we suggest: Sell 10% when they double and take that cash off the table.
Don’t reinvest ― simply keep the profits. And get used to crypto making you money! This is important psychologically as an investor.
Here are the three positions:
#1: Bitcoin (BTC)
Bitcoin has increased 85% since we recommended it on Nov. 19, 2018.
Let’s use the 10% rule to grab some profits.
Set a limit order to sell 10% of your holdings and take profits at $10,000.
That said, if you are planning on buying more BTC as per my advice in the video, then you can skip this. But if you have enough, then take the 10% profit.
#2: Ethereum (ETH)
If you bought ethereum at $166, based on our recommendation on April 12, 2019, this applies to you.
Set a limit order to sell 10% of your holdings for $332 when it doubles. Take those profits.
#3: EOS (EOS)
If you bought EOS at $3, based on our recommendation on Nov. 27, 2018, your position has increased 125%.
Sell 10% of your holdings and take profits.
A Note on Crypto Taxes
This month, the IRS said it’s shifting its focus from large-scale tax fraud and crime (like Silk Road and scam companies) to individual taxpayer compliance. The IRS has said its “ahead of the game” on crypto.
Here at Altucher’s Crypto Trader we’ve always been ahead of the game on crypto taxes.
Because we have a long-term investment strategy, we haven’t sold a lot.
But when we do, we want to keep the records we’ll need for Uncle Sam.
In order to properly declare these gains, you need to record the price when you bought these cryptos, the price at the time of sale, and the amount at which you sold.
Keep this record for your accountant at tax time.
incerely,
Kamal Ravikant
Co-editor, Altucher’s Crypto Trader
#Updates #VideoUpdates
I have a brand-new video update ready for you. And I’m also including a write-up (below) on the specific actions I discuss in the video. I recommend that you view both.
In the first part of this write-up let’s review the 10% rule for taking profits in crypto.
The 10% Rule
When a crypto doubles, it’s time to start taking profits. You can make a lot of money in a bull market frenzy and still own most of the crypto itself.
We have three positions in our portfolio that have doubled or nearly doubled if you bought during our initial recommendations, discussed below.
Here’s what we suggest: Sell 10% when they double and take that cash off the table.
Don’t reinvest ― simply keep the profits. And get used to crypto making you money! This is important psychologically as an investor.
Here are the three positions:
#1: Bitcoin (BTC)
Bitcoin has increased 85% since we recommended it on Nov. 19, 2018.
Let’s use the 10% rule to grab some profits.
Set a limit order to sell 10% of your holdings and take profits at $10,000.
That said, if you are planning on buying more BTC as per my advice in the video, then you can skip this. But if you have enough, then take the 10% profit.
#2: Ethereum (ETH)
If you bought ethereum at $166, based on our recommendation on April 12, 2019, this applies to you.
Set a limit order to sell 10% of your holdings for $332 when it doubles. Take those profits.
#3: EOS (EOS)
If you bought EOS at $3, based on our recommendation on Nov. 27, 2018, your position has increased 125%.
Sell 10% of your holdings and take profits.
A Note on Crypto Taxes
This month, the IRS said it’s shifting its focus from large-scale tax fraud and crime (like Silk Road and scam companies) to individual taxpayer compliance. The IRS has said its “ahead of the game” on crypto.
Here at Altucher’s Crypto Trader we’ve always been ahead of the game on crypto taxes.
Because we have a long-term investment strategy, we haven’t sold a lot.
But when we do, we want to keep the records we’ll need for Uncle Sam.
In order to properly declare these gains, you need to record the price when you bought these cryptos, the price at the time of sale, and the amount at which you sold.
Keep this record for your accountant at tax time.
incerely,
Kamal Ravikant
Co-editor, Altucher’s Crypto Trader
#Updates #VideoUpdates