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?
The best way to take profit is by calculating the amount of risk you are taking in your Investments and then controlling your greed once the investment is being done.
You should have a certain amount of profit in your mind based on the calculations you made while taking and analysing risks and profits. Once you get the desired profits then exit the market don't wait. In this way you can make good profits and minimise losses.