Quote from: Kocret02 on Today at 04:28:47 PM

Quote from: Wenbing on May 23, 2024, 11:23:49 AM

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 am sure that everyone who invests will seek maximum profits because the essence of investing is to seek profits for the future. but everyone has their own strategy. some make long-term and medium-term investments. For myself, I will take the medium term so that I determine a profit of at least 50% of the capital I have spent.

Each investor would really be that having their own profit threshold on which those people who would really be tending make those short-term profit taking and there are ones who do hold up for several market cycles and there are ones who do sell off only on bull run period after a long time of waiting for 4 year cycle which it would really be something that situational. The most important thing on here is that you should really know on what you are doing and always take profits on the moment that you would be having the opportunity or else on the moment that the market would really be having that correction or something that start of bearish period then
you would really be ending up on having that huge regret on why you havent been able to pull out those profits while its still peak. Get contented on whatever the amount of profits you do able to get.
Dont find for peak because this is something that cant be known.

Profit taking isnt really that hard if you do really just that make yourself that being not too greedy and being that contented on what you do have and not really
that hoping for too much profit or into the peak.