Quote from: DanWalker on Today at 05:09:37 AM

Quote from: Wiwo on June 29, 2023, 10:01:16 PM

Quote from: Franctoshi on June 25, 2023, 05:20:47 PM

Quote from: uchegod-21 on June 23, 2023, 08:55:47 AM

Immediately it is a new ATH I am taking profits straight up

If you planned on taking a profit at the new ATH you should have a good exit strategy to take your profit, implying this kind of strategy below would save you from taking a profit way too soon than supposed, I know how the feelings use to be when you exit the market early, and in some occasions, the market moves up like 2x from your point of exit, I suggest you should try this method while the market has not changed direction, 1st take 25%, 2nd 30%, 3rd 50%, 4th 70% and finally 100% 0f your portfolio.

When it comes to taking profits, the saddest experience is taking the profits too soon, I have experience this last week when bitcoin reached 27k+ I quickly took off some profits and within the next few hours, bitcoin raised to almost 30k and there after a few days Bitcoin touched 31k+ severally and that gave me a lot of bad feelings that hard I known I should have waited a little before taking such steps in taking profits too early.

But would you be upset if bitcoin decreased after you sold it? Bitcoin's rise or fall is unpredictable, so there is no need to be sad when we decide to sell it. As long as it hits your target and makes you profitable, then why be disappointed? Greed plus regret is very easy to make you make mistakes and pay the price in investing, instead, you should have a plan and specific goals for your investment, and be grateful, then life becomes better and more comfortable. Moreover, as long as bitcoin continues to exist, opportunities will always come our way, so there is no reason to regret our decision.

I agree with everything that you say DanWalker - but nonetheless, you are framing trading as if it were a prudent approach to bitcoin management, as if it would be prudent for a person to completely sell their BTC at any point in time and to hold such value in dollars (or perhaps some other asset such as real estate, commodities, equities, bonds that are acquired from such BTC sales), and there surely are ways to consider your BTC holdings in such a way that the BTC HODLer is not selling large portions of his/her BTC.. but instead perhaps shaving off some BTC at various price points as the BTC price goes up.. and in that way, there can be greater preparation for the BTC price to go in either direction rather than taking chances in the practice of predicting tops (or the seeming error of valuing wealth in dollars - and a lot of other assets that have relatively strong correlations to dollars - which seems to be both the outcome of selling too much of your BTC too soon and the value of actually holding onto BTC as a so far seemingly non-correlated asset).