Quote from: GeorgeJohn on March 24, 2024, 11:56:53 PM

Quote from: Joseph-P on March 07, 2024, 03:13:08 PM

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

Take your profit it is the most important thing who ever that is a trader into cryptocurrency especially have to understand that you don't need to be greedy in any of your investment because sometimes greediness is one of the things that affect anyone who is into cryptocurrency investment especially someone who is into bitcoin, even in a day trading you don't need to be emphasising on a particular point that you will make a profit, it's better you make a small profit than losing everything

To me, I don’t take it as greediness, but I define it as either emphasising more or a certain price and believing that you will surely get that, which is sometimes useful, but most times it comes to a big regret, and most of the time it usually affects those that trade or invest with a small amount, so it is possible for them to be expecting a certain price that will be based on expectation, but losing is constantly

Let's take an instance where you invest $30 when bitcoin is at a rate of $30,000. In shout time, bitcoin increased to $32,000. From there, you know you have a profit of $2 based on the money you invest, and you have a potential that bitcoin can reach $60,000 so that you can get 2x of your investment. Then you see the bitcoin reduce down to $26,000, so will you remove it to avoid losing it since you have already put your potential on $60,000 and you lost the small profit you earn? or you will take the risk and wait for a miracle?