Post
Topic
Board Trading Discussion
Re: Never Be in a hurry
by
Mpamaegbu
on 18/10/2021, 17:41:39 UTC
Experience in crypto currency has taught me never to be in an hurry to buy a crypto currency token or to join a crypto currency trade pair; The same applies when you are to sell a coin or close a trade pair; never be in a hurry. 
I've come to treat my financial transactions with the same precision and meticulousness of a lawyer handling a murder case. I take all the time I need, and never allow myself to be pressured into hastiness. I do it that way because any slip could damage my finances just the same way a slip from the lawyer trying out a murder case could be disastrous too and send his client to prison. This is a perception I learnt watching Alan Shore on Boston Legal. Why the rush, I ask. I once almost slipped while selling Bitcoin as I forgot to add an extra zero and that would've been me selling far below the price. I think the price was around $12,000 and while selling the little Satoshi that I had, I mistakenly put the price at $1,200. But I was quick to realize that before I triggered the trade. It would've been a grave mistake.

And also, before you sell a coin or close a trade; choose the same method; sell in batches; as it moons; the first batch would be your capital and little profit; the second batch would be more profits; never close your trades at once; and also remember, never enter a trade at once.
Well, I do this when I suspect that the token would still go up after I sell but can't be too certain it won't dump in price. So, to be on the safe side I sell in batches in order to make sure I recoup my capital. But if there are clear indications that the token would dump, I sell all at once.