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Exit Strategy
Imagine you have made enough money in #CryptoSpace, All the tokens you bought reach high enough, now you are looking for the exit, what is your exit strategy? Have you planned that?
I ask the same question with my group of members; the results are pretty much the same as expected. Key points to takeaway
- Buy low sell high.
- Do not get greedy.
- Invest what you can afford to lose.
- Convert profits into USDT or USDC (Stablecoin)
- Take withdrawals from exchanges into Cold Wallets.
- Do not withdraw at one go, withdraw the amount in small chunks.
- If you are looking to hold something for the long term, do not put that asset on exchanges.
These are the above-mentioned points are came from experience, please use it for yourself might be it will benefit you.
How can you exit from the market at the right time ? You may think that suppose bitcoin reach $100,000 is the peak and you cash out. After you cash out, bitcoin still continue to go up and reach 150,000$. You may again buy back at high price and think it may go to 200,000$. Its starts dumping from there
This is just one example which happens with everyone who is trading crypto currencies.
You are right lakn bohat sara log apna profit secure nh kr sktay mn na dakha hy 2017 mn log zaida ka chackar mn 3 sal tk apna loss he recover nh kr saky mja pata hy bohat sary log apna portfilo zaida alts coins mn he rakhta hn mara kahna ka matlab ya tha kh agr ap 1000$ sa trade karta hn tu ap apna ak gol sit kr lyin for example ap daily 50$ bare asane sa kr skta hn ap market ka chackr mn na paryin aur apna profit secure krta jayin tu yaken kro ap ko koi parshne nh ho ge aur ap ka loss ka chance nh ka brabr hon gay aur the best thing is kh ap loss sa bachna ke try krta raho tu profit khud ba khud ho jay ga bake mn na batya hy kh agr ap long time holder hyn tu apna assets ko secure kr rakhyn exchangs pa bohat zada fund mat rakhyin
