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?
Of course, if we are ready to take all the risks, we will be able to generate profits in the future. Usually, after we buy coins, their prices decrease. This makes us hesitate in making the decision between holding on and selling it. If we sell, of course the loss will be clear, but if we hold on, the value in dollars will become increasingly depleted. This can be resolved if we don't expect the profits to be used for our needs at that time. This means that if we invest with pocket money, it is certainly very risky. But investing with money that is ready to be saved long term, then the conditions will be safe.