I had been holding 1000 Eidoo coins since a few years and was wishing the price rise high so that I make a hefty profit out of it.
But I was feeling bad of the fact that despite holding it for a few years the price didn't rise much.
Lately the price went from 0.001 ETH to 0.002 ETH and I was happy that the price increased at least a little.
Though my target was around 0.003 ETH I decided to sell all of it for 0.002 ETH per coin since I was assuming that the price will fall down again.
I got the 2 ETH by selling all the coins and I saw the price today and it was 0.0032 ETH per coin.
If I would have sold it today I would have got 3.2 ETH. So I basically got 1.2 ETH less than what I could have got.
But this is what I want to highlight. Though I could have got more profit I am not sad since I got at least a little profit.
I know I would have been more happier if the price would have decreased after I sold but I am not sad that it instead increased.
So guys, it's ok if your profits are less. You are at least making profits while things could have gone the other way around.
This is an awesome piece. This is absolutely something every newbie trader should see. Crypto trading isn't a get rich scheme and a little profit a day eventually adds up to something big.
It is true you could have gotten more profits by holding longer but it is also true you could have even lost all which is way bad.
I've realized over the years that one of the lessons a trader ought to learn before venturing into trading is when to exit. Many traders don't exit a trade even after meeting their target with the hope that it'll get higher only for the price to fall tragically and the trade ending in a loss.
I believe a little profit everyday is better than a big profit once in a while.