A lot of people make the same mistake by being too greedy, and ignoring the small profits and not using the proven recipe for success in Bitcoin by buying low and selling high.
For someone to profit from trading with cryptocurrency, it is crucial to understand what this is really about. We often see people coming from different trading markets thinking that trading with crypto is same as trading with stocks or gold. In my personal opinion, trading with cryptocurrency is much more complex then trading with gold, especially for the sake of security itself.
I agree that in some cases is better to take small profits when the opportunity arises, then to just hold for long-term. But we can do both, just by divide some funds for trading, and rest of coins can be stored as long-term investment.
I would say that this year is very good for trading since price was close to $3000 at the bottom, and almost $14 000 at its peak. It is about $11k profit if you buy low and sell high per 1 BTC. And we can see that only in last 3 months price is drop sharp at least 3 times close to $9000, and bounce back above $10k very fast, so whoever tracks the price movement in recent months has a chance for a really nice profit.
That's just the thing I am trying to say. It is better to capitalize on the bear market and to reduce your expose of your own investment capital to risk, by taking profits regularly.. than hoping for the best and hoarding long-term.
By doing this, you would at least have taken something for your effort, in the event that something bad happens and if this thing goes to zero.
Do not do this too regularly, because the trading fees would eat too much of your profits. Mine is about 1% of the total amount traded and if I withdraw, then withdrawal fees are added to that.
Goal : Reduce the risk
