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 strategy you have implemented is good. However, everyone has their own strategy to gain profits from trading. because what is sought in trading is profit. and the strategy that I apply is the profit target that I want to get from trading. and and my target profit is 20 - 50% on every altcoin I hold. and this can be short term or long term.