Post
Topic
Board Beginners & Help
Re: do not exceed your targets
by
tabas
on 21/04/2023, 21:42:50 UTC
I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase,  but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

I'm saying this because of some people who may have a target,  it is important for them to hodl to their target and not be carried away by the increase of price of  the market. The market can never be predicted, hold to your target and never be too greedy to make more profit. There is another day for another profit. This is important for people who have been patiently waiting for their target .
Good advice for yourself. If you're giving yourself a target, no heart feelings and just follow what you've set for. Many of the people that have set for target during the last bull run didn't take their profits because of greed and think that the price of bitcoin shall continue to a higher price.
I've learned my experience from 2017 bull run when I didn't take profits. It's normal for someone to feel that there's no need to take profit yet because price might be higher eventually. But then if you've seen in the past that bitcoin is highly volatile, you'll miss that moment within split seconds of not selling it. Always try to convert your profits into stable coins first so that you can comeback and buyback anytime the market goes in a correction. I've got my expectations set for short term and I've got mine as well for the long term. You need to put that boundary and target and do the necessary when you're at the right time.