You are viewing a single comment's thread from:
RE: Say goodbye to having to wait 13 weeks to power down invested Steem - SPI tokens earn like SP but are liquid like STEEM
I think this is a great opportunity to build a reserve as part of a selling plan. At the moment, there's a big focus on buying (which makes sense because the opportunity is so good) and buying and investing plans, but we rarely hear about selling plans as part of the investment deal. One of the pieces of advice I've had about a selling plan is to sell enough Steem at a higher price to recover my fiat investment. From time to time I have started accumulating steem for a selling plan, but it hasn't made sense previously to put it into savings and eventually, I've always powered it up. I've just started buying SPI again - some of my SPI will remain as a long-term investment and some is to sell when the Steem price is better.
Not really into talking about selling. Having an exit plan is deffo a good plan but I think anyone that is gonna plan will have already done it.
I would suggest that you write a post about it and put it into the #spinvest tag. These are sorts of things i would encourage people to talk about and engage with each other.
There are many exit plans, getting your fiat investment back plan is ok, I would not recommend it but that's because I don't believe in selling something that I think will to go up. Why would I want my money back? It's a completely different story if you borrow yourself the money and need to repay it. Like I take £500 from investment A to fund investment B. I cash out earnings from investment B to pay back into investment A until the debt is cleared. That's cool and makes sense to me.
I'll quickly tell you my silver stacking exit plan. My plan is to sell all my silver when the silver to gold ratio is 50-1. This means 50 ozs of silver are worth 1oz of gold. The ratio today is around 85-1 so I am nowhere close to selling. However, silver is up around 15-20% from the start of the year and looks to be the perfect time to cash out but I don't. The reason I don't is that an exit plan is a 2 step plan and people only talk about the first step. Step up is how your gonna exit to market, step 2 is what are you gonna do with that money? I could sell my silver today but where does the money go? For me, the end goal is gold so the silver to gold ratio is much more important than the £ price.
Read up and learn about different exit plans, it gets your juice's flowing and you'll start piecing your own exit plan out using different techniques you've learned about and then bang out a post when you have the time. Google is your friend :) Half the stuff I have learned in the past 2 years is only because I wanted to write a post about it and had to research it to make sure I said like i know what im talking about. haha
haha - I know what you mean!
I'm not really talking about now I have it, now I sell it ... as I buy in small amounts over a long period of time, my selling plan would be similar, rather than waiting for the ATH or something like that. I would sell to invest in something else, pay off the house, have a holiday, buy a boat etc etc.
I've just started experimenting with selling on steem-engine, we're talking about such small amounts, it's a good way to learn, some bids were way higher than I'd paid for any of my tokens, it seemed a sensible way to use some of the proceeds from posts. But maybe I'll learn I'm wrong hehe.