Crypto trading and investing has many challenges. However some that stand out are;
1. Risk in trading or investing
2. Greed and Fear
3. Profit taking.
I will address the third point in this trade. Making profit is one thing, taking profit is far important. What make some people not to make profit is fear and greed.
Here is a strategy i used in taking profit;
1. Determine the market cap you want the coin to rise to.
2. DCA out at every milestone of the project.
For example, say you bought SOL at $5. You take 50% off after 5x, and take 10% as it goes up.
How do you take profit? Are there other strategies for profit taking?
I'm using buy and sell strategy for my ethereum holdings which serves as my stable profit during bullrun. That's simple to do if you knew how to read the chart, and analyze the trends. Familiarization of candle sticks is very important, study everything and nothing will be impossible but profit. Risk and fear is always present just learn to control it.
absolutely mate we need to control our fear inorder to prevent losses cause once our fear will take over us then we will be greedy and there's a possibility that we will loss our holdings or investment cause we will sell our coins even though the price is too low it will happen because of our greed and also greed will come once we cannot control our emotions and fear. also in investment we need to try and risk our money in order to have a good profit in the future. Risking us good a trusted coins so we need to buy the trusted one.