Quote from: irhact on Today at 07:28:24 AM

Quote from: Texac on September 03, 2023, 10:07:40 AM

Take profit is never wrong even if we don't sell at the highest price. and that's a smart plan because the market will definitely drop after the bull run so I'll do the same thing. i will sell all my portfolio during the bull season and wait for the bears to hit the market to start accumulating for the next bull season.

You don't make gain until you have secured your profits and that's why it's important to take profits. Imaginary profits when you haven't sold makes you think the price of your investment can't dip and that's wrong. Bitcoin doesn't move in only one direction as it moves up and down so it's only wise you take profits when the price has reached it highest price for that cycle. Taking profit isn't a wrong thing to do because at some point you'll have to sell your Bitcoin.

It's wiser when you take profits during the bull market as during this time if you sell, you'll get high value for your coins and wait for the market to dip before you invest back into the market then selling during the bear market because you can't hold through the dip any longer.

But how do we know the highest price during the bull season? We'll never know where the bottom is and the top until it's all over. In my opinion, we should take profit when the price reaches the target we set or we should take profit when we feel satisfied with that profit. Absolutely do not be too greedy, it will make us regret.

Yes, I think holding long term for 10 or 15 years is not a better plan than taking profits during each bull cycle and waiting to buy back during the bear season. Because we never know what the future holds, I would also sell out during the next bull season and buy back later.