Quote from: Sim_card on February 11, 2025, 08:50:48 AM

Quote from: fikrett on February 11, 2025, 08:00:18 AM

Profit is taken either when it's needed or when the target is reached.

As someone still in his accumulation journey, you don't think of profit in your bitcoin investment talkmore of taking profit, because it will distract you and make you to reduce the size of your bitcoin portfolio instead of increasing it. There should be no reason on earth that should make you tamper with your bitcoin investment during your accumulation stage, and that's why the need for proper plan and putting in place all the necessary things needed for you to stay away from selling your bitcoin investment is very important.

Investing in bitcoin should be done with your discretionary income and you should also set up various back up funds which are emergency funds, reserve funds and float. So that you can tap from your float for your wants and maybe your reserve funds but you shouldn't touch your emergency funds only if a real emergency arises. You needs should be sorted out from your income and not from your discretionary income, because it's after taking care of your basic needs and monthly expenses, the left over is used to invest in bitcoin.

When a person decides to invest in Bitcoin, he should understand that he has a source of income, otherwise he has sold his ancestral property. Because no one can invest in Bitcoin without money. And whenever a person decides to invest, he should also make some plans. So that in any difficult situation, he does not have to think about selling Bitcoin. And in the first step of the plan, I will talk about his initial income, with which that person can easily meet his monthly needs. The person will invest with his discretionary income and meet his small needs with float income. For example, if suddenly the robber takes his mobile phone, he can quickly arrange another phone with float income.

On the other hand, in a medium danger, he can meet it through the reserve fund and in a major danger, he can meet it through the emergency fund. In this way, he should plan step by step and meet his needs. Only then will his Bitcoins change into a large amount of wealth and this change can change the picture of the person's entire life.