Struggling to decide when to buy and when to sell? I've been using this simple technique since 2013 and it hasn't failed me yet...

There's lots of discussion at the moment about knowing when to cash out your holdings, and how hard this decision can be. I wanted to share my strategy, which I have been using since 2013.

Too many people, particularly in recent months, have been getting into crypto in the hope it will make them rich. The truth is that most don't get rich from crypto (even those that were around at the start), but you can make yourself a lot more financially secure if you stop aiming for moon shots and start thinking long-term.

Since 2013 I have been able to max out my capital gains allowance every year, tax free. I'm in the UK, but essentially that means every year I can pull out circa £12,000 ($17k) without paying any tax, or even worrying much about paperwork.

It might sound boring, but it adds up, and as of the start of this financial year I have been able to draw out a combined total of around £100k ($142k) over the years, whilst still having sizable crypto holdings that I intend to draw on for years to come.

The first thing you need to accept is that you will never be able to time the market. I have been playing with crypto since 2013, and trying to trade never works out in the long run. You might get the odd success, but sooner or later you'll blow it all.

Instead, I maintain a sum that I consider the maximum amount of GBP value I'm willing to have in crypto, and if I exceed it, it gets pulled out. I also have a sum that constitutes the smallest amount GBP value I will have in crypto, and if it falls below I top up - though I have only ever had to do this a couple of times and it was in the period following the crash of 2018.

I also have avoided anything other than the top cryptos. In the 8 years I've been doing this, I have only ever held BTC (and any junk forks), ETH, LTC and more recently ADA and Nano (I only hold the latter because I admire it as a payment solution rather than an investment). I'm not saying people don't do well on shitcoins, but you might as well buy scratch-cards.

So stop aiming to get rich. Unless you are incredibly lucky and in the right place at the right time, that boat has long since sailed. But you can, with slow and methodical planning, create a nice stream of additional income that, over time, can transform your life.

Warning: The above has worked for me since 2013. However, it does require that the crypto market continues to follow similar trends. So far it has, but the truth as we all know is that things can and do change. Always keep your wits about you, and always be willing to re-assess your own logic.