It's incredibly hard to sell when you are in a profit position, because of greed

[reactorjuno]

Hi folks,

Let's be honest a minute here, it is incredibly hard to sell, no matter the coin and no matter the profit.

Imagine those who bought Bitcoin at $1000, price went up to $19000 and all you could read on the Internet was predictions of $50,000, soon $100,000 (or much more than that... McAfee). Who would dare to sell in such frenetic phase?

And remember those who had some Ripple, they see a price of $2 per coin and think $2 is so low, so they wait (they of course compare the price to Bitcoin or even Ethereum at that time). I recently read an article predicting $500 for Ripple.

Greediness.

I know some people who bought Ripple at $0.50, were in a massive profit zone, they never sold and still hold today!

Let's face it, any decision in the crypto world is extremely hard to take!

So don't be too greedy, because:
-you will never sell even when the coin is down big time, hoping that it will go back up eventually
-you will never sell even when the coin is up...because if you do you will regret it when the coin has gained 100% again...


Opinions welcome  

[1715587584]

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[1715587584]

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[dothebeats]

This is a given fact; greed drives people to their own demise and losses, as attested by the tons of people who complained of bitcoin being a scam after not getting out early. I myself am a victim of greed when I played on online casinos. I have been playing slots and am in great profit, only to lose it all expecting that i can still manage to cram a little more wins. Luckily though I've learned my lesson, and have managed to profit on the last bull run and bag  the profits, and start a business that is still thriving up to now.

[arpon11]

This is the nature of cryptocurrencies market!  It's a speculations market therefore greed and patience are the two force that determine either we make profits or not.  Investors are for profits and no one wanted to carry last in trading.  We are all greed about make profits!
Remember that some people buy bitcoin at $19000 and many are still holding uptill now.  That is the beauty of this market.  Those one can only lose if they sell at the current price and they will also make profits if it's been hold for a very long time and maybe price goes up as speculated.

[tdrinker]

That's why all of the best investors are ones who are able to remove emotions from their decision making processes. If you have something precious and you continue to hold on to it tighter and tighter eventually you'll have nothing.

[gentlemand]

I think people need to experience missing their opportunity once. When the chance comes around the second time they'd hopefully not make the same mistake as it might have taken several years to work its way back up.

I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.

[BitHodler]

What OGs do is sell a fraction of their coins to get their initial investment back, plus some profits. From there it's a piece of cake to hodl through massive increases or decreases without breaking a sweat.

Getting your initial investment back is one of the most important aspects of investing in general. Once you did that exactly that, you feel comfortable because you don't risk a single penny anymore.

Most of the OGs have been cashing out smaller fractions as the price kept going up, and that for years straight, which explains why most of them continue to smile even during the worst possible crashes.

[WinslowIII]

What's really incredible is to sit and watch your paper profits evaporate. That's a little mind blowing tbh, but like many here I'm playing on the house - if I actually had significant amt of real money on the line I'd probably have put a gun to my head by now.

[LFC_Bitcoin]

I think people need to experience missing their opportunity once. When the chance comes around the second time they'd hopefully not make the same mistake as it might have taken several years to work its way back up.

I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.

Great post!

In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.

I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx

I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.

I won’t miss out on life changing profits next time

[huhhuh18]

You're so right. The greed comes in play when you can't control emotions lol. Many people got many of the coins at very low prices and wanted to wait for like forever, before they will sell but plans backfired.
Anyways that'll drive up the next cycle buddy. And the new investors may experience the same and this cycle shall not end lol.

[WinslowIII]

I honesly don't gaf about missing fiat profits, what kills me is I could have 5x the bitcoins by selling then and buying back now. That's a real ass burner.

[gentlemand]

Great post!

In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.

I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx

I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.

I won’t miss out on life changing profits next time

I can't say I was shocked by the fall. As soon as a pal of mine called me out of nowhere asking for permission to buy XRP at $3 I knew the writing was on the wall. I'm shocked by how similar it's been to last time so far. Originally I wasn't going to budge a penny until 2020 but I didn't expect the magnitude of 2017 and I hadn't really planned for it. 

It's very, very easy to have a super high figure lodge in your mind and forget how little time it actually spent there. Hardly anyone would've achieved those peak sells. Exchanges were also so seized up at the peak that you might have had repeated failures attempting to get rid.

My ideal scenario is that my preplanned figures are reached on a very sluggish rise long before it goes nuts again.

[LFC_Bitcoin]

Great post!

In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.

I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx

I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.

I won’t miss out on life changing profits next time

I can't say I was shocked by the fall. As soon as a pal of mine called me out of nowhere asking for permission to buy XRP at $3 I knew the writing was on the wall. I'm shocked by how similar it's been to last time so far. Originally I wasn't going to budge a penny until 2020 but I didn't expect the magnitude of 2017 and I hadn't really planned for it. 

It's very, very easy to have a super high figure lodge in your mind and forget how little time it actually spent there. Hardly anyone would've achieved those peak sells. Exchanges were also so seized up at the peak that you might have had repeated failures attempting to get rid.

My ideal scenario is that my preplanned figures are reached on a very sluggish rise long before it goes nuts again.

Interesting, thanks for sharing!

[reactorjuno]

I think people need to experience missing their opportunity once. When the chance comes around the second time they'd hopefully not make the same mistake as it might have taken several years to work its way back up.

I had a set proportion I was going to sell once it reached a set price. It didn't quite get there. It should get back there some day. When it is I'll be selling no matter what the future is looking like.

Great post!

In a similar situation myself. Started buying at around $600 as we were on the way down from Mt Gox high. Not going to go into figures but I lost ‘A LOT’ of unbanked profits on the way from $500 - $600 to $19,xxx by not selling.

I didn’t sell any of my bitcoin’s, I have the same amount now as I HODLED at the ATH but you can appreciate how much of a shock it was falling from $19,xxx to $3,xxx

I’m sure as hell selling nothing in this price range but after the next halving, maybe mid 2021 we’ll probably go on another epic bull run.

I won’t miss out on life changing profits next time

I have the same plan, maybe sell in 2020 if we go above $10,000 again. My personal experience is a little different. Bought at $3500 and of course did not sell at $19,000. I eventually sold at $6500 but bought back (less amount, needed the cash) at $7000, so a silly move in the end, but hopefully will learn from this rookie mistake.

[budiarmed]

That is true, because of the greedy nature of someone who wants higher profits without thinking of crypto conditions that are not stable, but on the other hand people get big profits when they use the opportunity to sell them.

[Crypdon]

Greed is what brought most people to crypto in the first place! Can't say it's the technology when most people have no idea what the blockchain is about, they think bitcoin is the blockchain. Good thing they have coinbase to help them invest

[Oasisman]

Greed is what brought most people to crypto in the first place! Can't say it's the technology when most people have no idea what the blockchain is about, they think bitcoin is the blockchain. Good thing they have coinbase to help them invest

Absolutely correct! They only say " technology" because it gives a lot of profit over the short period of time, unlike any other investments that could give you profit for years. Behind the peoples technology patronage is a greedy mind that are forever discontented and thats a human nature.

[WinslowIII]

Greed is what brought most people to crypto in the first place! Can't say it's the technology when most people have no idea what the blockchain is about, they think bitcoin is the blockchain. Good thing they have coinbase to help them invest

Absolutely correct! They only say " technology" because it gives a lot of profit over the short period of time, unlike any other investments that could give you profit for years. Behind the peoples technology patronage is a greedy mind that are forever discontented and thats a human nature.

Get off your high horses, nobody here including you guys would gaf about this if they knew bitcoin was going to zero from here, and especially if bitcoin never became worth more than a few cents.

[sunanbonang]

if you are a trader you have to get rid of greed, need the right consideration to sell and buy. don't sell too fast and don't hold on for too long, many people are disappointed because they sell too fast and hold too long.

[Isiaka208]

Really, in all honesty it is hard to make a decision when your coins are in greens because greed is a part of the human race. Like I will always say,  learn to take position in lows and learn to take profit when in greens.

[WinslowIII]

Really, in all honesty it is hard to make a decision when your coins are in greens because greed is a part of the human race. Like I will always say,  learn to take position in lows and learn to take profit when in greens.

You make it sound so easy when it's anything but.
When price went from long time trend of $400s back in 2016, jumped to $600s in a month what to do - sell because you don't want to be greedy or hold? what about when it hit $1k, then what? what about when it hit $2500 area for a couple weeks - sell for sure so not to be greedy, right? WRONG. It went almost 10x from there.
Nothing is easy about this market so everybody stop saying shit like it is simply overcoming the nature of greed and fear. It just not that simple, and people hold not out of greed - but out of fear that it will go higher and leave them behind. So much bullshit needs to be called out on this subforum because there is a thousand more times bullshit vs good advice.