when trading crypto assets there comes a time when you feel it’s the right move to sell a portion and take profits. Well it’s happened to all of us where after we sell the price continues to rise and we regret selling. Well just remember this for quote next time:
Not a single person has ever gone broke taking profits.
Emotion is the most difficult aspect of trading. I can relate to your point first hand, but I have found that selling to early hurts way less than not selling and watching the fall. I sold all my EOS at 2x and while it stings a bit it's nothing compared to the position I hold that is 2x and wished I sold when it was 10x. What I'm planning to do going forward is take positions with the plan to sell half at 2x and another half of the remaining at 10x.
It hurts yes, but that is why you stagger your sales. I always keep what I call a moon bag just in case.
This is so true-no matter how much tech you know, you never know the mind of the people. For exp, I still don't get how Verge is still called an anonymous coin. I never bought bc I thought i was going to die-not cool about. However I could not predict the peoples mind. There were other times I just overlooked the coin.
MAN...... you really hit a never with this one. I absolutely dispise the fact that they still try to claim to be a privacy coin. There is nothing private about them.
I like to take the old saying "country clubs everywhere are filled with rich guys who sold too early" and add to it "and telegrams everywhere are filled with moon kids that never sold."
Scaling out may not always get you that F-you money, but it will ensure you get money. So much easier to endure a bear market or bad news or dips when you have taken money out along the way.
Our unrealized riches can disappear as quickly as they came so always important to take some realized profit now and again.
crypto2crypto's unoffical side kick signing off until the next comment
LOL "crypto2crypto's unofficial side kick signing off until the next comment" this guy!!!!
Yea selling to early is not a stressor for me anymore. Like i recently sold 100k Zil at 1100 sats and then the next days you seen what happened, but i truly did not care.
If I feel I sold early I just go right back in another one that I had been waiting to buy :-)
There are too many great projects out there for me to feel sad
Im not as quick with the buying trigger as i used to be. The project has to really be awesome to get me to buy in.
You are a wise man @crypto2crypto.
Look where my habit has brought me- 27 different coins and more fiat left to put in. Parting with fiat is not exactly a problem but a couple of bags that I got left behind holding stung a lot.
We all have had those moments
didnt know that quote but its so true... and so easy to forget
Ha ha....The gave the password on it. Then, you will never forget.
Still, we forget the true and remember the false.
Its one that I live by, easy to forget but I rather not regret
That’s completely true! I’ve seen cases where all profits parished just because the person hoped for even more. It turned around so quickly that before he adjusted to sell mode it was already too late. I went through this as well and perhaps will again.
At the end Of the day, something is better then nothing.
In reality there is no “perfect” time to buy or sell, because of course we can’t tell the future.
If we could tell the future, we would still find a way to screw it up lol.
Haha smh.
Good thoughts to ponder. A profit is still a profit. You may have lost the chance to earn some more but at least, you haven't lose the chance to take profits
In crypto any win is a win worth having.
I sold 20% of my portfolio at $9600-9700... it feels so good :D
Almost time to buy some back 😛
This I totally agree with you, no single person had gone broke taking profits, just profits.
Yup
Well, i am keeping my mouth and stomach shut. Just praying. Ha ha..We know, it will be back.
Definitely. This was just scared money running away.
That's right.
This is me :(
Don't let it be, you will go broke very quickly.
Well, i too think this many times, we can't get more than.what written in our luck!
Up.and down is the part of crypto!
You will get what is written in your luck not more than.that!
True that.
You won't always make maximum profits.
It's all good as long as you profit
Some will lose it all trying to gain it all.
You can't either buy the dip and sell at ATH. The meat in between is what really matters.
If you can nail that then you are all good.