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At my account with my trading platform I have about 10 000 USD in balance and about 17 000 in Equity and an outstanding profit of about 6000 USD. Is it better to sell and take home half the profit now that is clearly is a profit or should I wait for even more gains?

closed as primarily opinion-based by Chris W. Rea, Michael, Brythan, MD-Tech, mhoran_psprep Dec 7 '17 at 11:10

Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.

  • According to the tags, you're a day trader. Thus, don't you frequently sell? – RonJohn Dec 7 '17 at 2:04
  • @RonJohn I might not be a day trader because I follow longer trends and use strategies to sell larger amounts less frequently than daily. It can be discusses. Nearly all my gains are from the bitcoin rally recently. – Niklas Rosencrantz Dec 7 '17 at 2:59
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Whether or not you should cash out depends on your risk tolerance, but that's a general answer for any kind of trading, and we can't help you with that.

Note that you'll have to pay capital gains tax on any profit. Presumably you've held these btc for less than a year (short term gains). That means the rate will be equivalent to your marginal income tax rate. If you've held them longer than a year, then that's long-term gains.

https://www.investopedia.com/articles/personal-finance/101515/comparing-longterm-vs-shortterm-capital-gain-tax-rates.asp

So, if you cash out, remember to sock away a percentage for Uncle Sam!

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