Quote from: mattsaronx on December 09, 2024, 12:13:47 PM

Not a suggestion, just a personal opinion, generally I apply Money Management in the altcoin trading system, if the price has increased 2x from the entry price I will take 50% profit, then my take Profit area at every important price level, such as Tp 10% at $1, Tp 10% at $2, and so on. where this will minimize losses, most importantly Psychology will not be disturbed if the price goes back down because previously Take Profit capital.

This is a smart move. I do not do the second part all that commonly, I just repeat the cycle basically. As in, If I enter 100 dollars, and it reaches 200 dollars, I just take out 100 dollars, making it go back to 100 dollars. After that, I wait for it to reach 400, and take out 200, making it go back to 200, then I wait for it to reach to 800, take out 400... so forth. Basically just keep repeating this at all times.

Not like I take out money and just go buy a burger with it or something, I take that money out and invest into something else anyways, so it is always invested in something. But, if you are definitely sure about a project, then doing one of these, like 100 to 200 and take out profit, then you can just hold it for a decade without ever taking out, which makes sense too.