hey guys ...
suppose you invest 10k in crypto
at what stage would you consider getting out and taking your gains ? if you 10x ( 100k )
or are you very very LONG on this ?
A favorite saying of our Cryptocurrency community is "Don't invest more than you're willing to lose." I agree 1000%
With that being said one of the most difficult decisions a person has to make is what to do when they, don't lose, but win.
Yes, WIN!
Who knew that could be difficult?
Many/most new investor's are not used to the concept of actually winning. Most people assume the hardest part is putting up that first large sum of money whether it be $10, $100, $1,000, $2,500, $5,000, $10,000, $25,000, $50,000, $100,000 dollars but it isn't.
You have already entered the game at that point & decided that you're willing to risk losing your initial investment in order to possibly gain 2x, 3x, 10x, 100x or 1000x that's everyone's goal, idea & dream of course. But the way I look at it is not that I had $10,000 dollars that I wanted to increase in value but rather I placed $10,000 dollars to play the cryptocurrency market/ICO/trading game and was at ZERO until I cashed out my unrealised gains or losses.
A very basic example, you invested in a project that made a 50% gain on your $10,000 & you're up $5,000 dollars. Your total nut is now $15,000 right? Wrong, you're at ZERO. You can make that that initial investment of $10, $100, $1,000, $2,500, $5,000, $10,000, $25,000, $50,000, $100,000 and 100X it & you'll always be at ZERO until you cash out your initial investment of $10,000 plus what you've earned.
What some beginner's fail to remember when they're winning/making profit is how difficult it was to make that initial $10, $100, $1,000, $2,500, $5,000, $10,000, $25,000, $50,000 in the first place. How long did it take you, how difficult was it to save that initial investment, what did you sacrifice to obtain that money & if you leave the game at ZERO how much more difficult will it be to re-build?
You can become dazzled & mesmerized at the amount you've earned in such a short amount & it will diminish your memory of how hard it was to make/save your initial investment. Never forget that difficulty & always remember that while you are invested in the markets you are at ZERO.
The only person that can actually answer your question about, "at what stage would you consider getting out and taking your gains?" is you. You have to decide at 50%, 100%, 200%, 500%, 1,000% what taking profit will mean for you.
I suggest listing out the possible percentage gains/losses, calculate what those numbers are & decide what amount of profit/loss you're willing to endure. Then decide, beforehand, where your exit points will be at both ends of the spectrum.
Best of luck.
