Some people will sell it on the slightest pump
My colleague, who entered crypto a year before me (and who got me interested at the beginning of 2021), got burned at the beginning of 2024, just when the market started to wake up (but the whole of January went sideways) and all his BNB that he had exchanged for USDT which he staked on some exchange "for an incredible" 9% (or something like that) for a year.
He had 10 BNB and he was buying them around $20-30, he exited with ×10, but he could ×25, ×30...
And I, set a DCA for sale at 600+ for some part of my BNB, as we talked about on a previous HHHlive 🙂
And so my BNB turns out to be 2x more expensive than his... So far I have surpassed my mentor 🙂
hehehe... Not financial advice and not gaslighting you, but what you explained is another big trap... When we think that we are trading gurus as we made a couple of good trades in the obvious bull market and earned money... 🙂
I did that in 2017... I would buy something, which will of course go up as it was a huge bull run... I would sell, and earn profit.. and I thought that I was a professional trader... 😂 When we came into the "unknown" waters when the trend wasn't "only up", I lost almost all that I earned in just 2-3 trades... lol...
DCA in and DCA out are always the best strategy to avoid emotions and chasing the top or the bottom...
Good job!