Always pay yourself first!!!!! - page 2.

Stalker22

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Quote from: ogundowotoby01 on May 02, 2021, 03:09:20 PM

When investing in any coin, you should have a clear strategy, (i.e. an entry price and an exit price) and once the market reaches your exit price target, take a good percentage off to pay yourself, do not let greed set in. The market is very unpredictable and can turn on you anytime, but if you pay yourself, you won't have any regrets.

The fear of missing out may be the motivation for sales but you're better off waiting for your best opportunities. But, according to past experience, it is better to be a little late than to sell too early.

Some tips:

-Take profit when the long-term trend reverses by which time the price is no longer elevated from where it was before the start of the trend.
-Start to take profits when the downward trend is evident.
-Don't sell during high volume.

bitmover

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bitcoindata.science

Quote from: ogundowotoby01 on May 02, 2021, 03:09:20 PM

What most of them fail to realize is that, no matter the percentage increase a coin makes for you, it is not your profit or money yet until you take it off (take Profit). When investing in any coin, you should have a clear strategy, (i.e. an entry price and an exit price) and once the market reaches your exit price target, take a good percentage off to pay yourself, do not let greed set in. The market is very unpredictable and can turn on you anytime, but if you pay yourself, you won't have any regrets.

That strategy is very conservative, and it has some positive and negative side.

The good side is that you will get your 50-100% gains and you will get out, taking a high percentage of your investment. I think this is good strategy if you are dealing with shitcoins which are just pumping without any fundamentals.

On the other hand, if that coin just hit 2000% 2 years later you will highly regret. I think this often happen to bitcoin and ethereum, which are the projects with better fundamentals and investors should have a long term strategy with those coins.

Personally, i believe it is a good idea to sell a small percentage of your gains every time the coins make huge pumps.

You can sell about 1% every time the coin gets a 100%, or sell 10% when it makes 1000%.

I also like to sell all my altcoins when they pump to trade them back to bitcoin, so I keep track of COIN/BTC ratio all the time.

Upgrade00

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Playgram - The Telegram Casino

Having an investment plan is very important when putting money into any venture. The values and figures may not particularly be set in stone and should be adjusted if necessary, but do not venture in without a savings plan.

Quote from: ogundowotoby01 on May 02, 2021, 03:09:20 PM

no matter the percentage increase a coin makes for you, it is not your profit or money yet until you take it off (take Profit).

Conversely, no matter how much the price drops, you have not lost until you cut your losses. It's alright to take profits so as to reduce how invested you are in one asset and diversify into others, but newbies should not fear price drops or regret when the market turns bearish.

ogundowotoby01

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I see a lot of people here (especially newbies) get excited when the market is pumping and rejoice on the percentage increase in the coins they bought, but complain bitterly when they market turns bearish and their portfolio goes down.
What most of them fail to realize is that, no matter the percentage increase a coin makes for you, it is not your profit or money yet until you take it off (take Profit). When investing in any coin, you should have a clear strategy, (i.e. an entry price and an exit price) and once the market reaches your exit price target, take a good percentage off to pay yourself, do not let greed set in. The market is very unpredictable and can turn on you anytime, but if you pay yourself, you won't have any regrets.

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