Quote:
Originally Posted by Reggie28
My brother has been bragging about crypto gains for the last while, sending screenshots of things going up 125% in 24 hours type of deal. Today I kind of laid it on the rug, he is up 30% in the last year. Nice return, but my main stock account is up by more than that. I think he gets blinded by the gains and refuses to sell.
Is the trick to small crypto to sell when you see a rapid acceleration in the growth rate and get out before it comes crashing down?
Can you invest in TFSA, LIRA, RRSP accounts? If it is all unregistered, there are tax complications. I haven’t done my homework, but there are lots of smart crypto people around here.
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Pretty much. I follow a guy Kevin Cage on Discord and his entire theory to making wealth in the crypto market is to buy at a low fibonacci and then take profits around 40% gains and around 50-60% gains.
Then move into another asset. It's all about patience and the willingness to actually sell. I've just started a few weeks ago on there and only hit one trade with him so far (Filecoin, sold 50% at 40% profit and 50% at 60% profit).