A couple short tips when forming your plan:
Always identify ideal entries and exits. You can adjust this needed based on situational aspects, but its good to have something in mind. If you have a very clear plan (like taking profit everytime you make 100% ROI) then you can set buy and sell orders which is less maintenance for you.
Some people say "profit is profit" but if you've ever sold a coin, then watched it skyrocket, you know that phrase offers little consolation. I've experienced it several times myself because I got bored watching a coin go sideways.. The lesson for me?
Be patient. If you only buy coins that you know are solid, you shouldn't have to sell for a measly profit, or at a loss. This is a long game.
Over trading and inexperienced swing trading, i.e. trying to sell high and buy back in lower repeatedly, can result in losing out on profits long term, and it is also taxing mentally. Exercise caution if you're new to trading. It may seem like a great idea, especially when you see people bragging about it on social media, but what you DONT see is people bragging about their losses-- which DO happen. Be careful with this!
SOOOO..Moral of the story- get organized and remain mindful about your trading strategy. Your portfolio will thank you!
That's true. When you have faith on the coins that you are holding better hold it. Although we know that it will challenge your patience but you have to remember that it is part of this line of work. But there is nothing wrong with selling if you think that it is the better time to sell it. So as long as you will not regret on it then it's fine.
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