Always pay yourself first!!!!!

[cryptoperkele]

Many people who sold Bitcoin at $3 or $100 or $1,000 are absolutely having regrets now, even if they made thousands or millions at that time. With Bitcoin you either try to sell it at close to the top of bull market and buy at the low of bear market, or you just HODL for many years. It's different with alts - they can easily crash and never ever recover, so you indeed need to take profit and never look back.

I have sold bitcoin at $300, and all the way to ath. I don't really have regrets because needed money at the time and was constantly buying and selling anyway. At $300 any talk  about $10k btc seemed delusional. In fact the whole idea looked like it could die at any moment and everything was more or less shady and and unpredictable. I understand why people would think that early sellers have regrets but no one really knew how this would turn out so most of us aren't hitting ourself for taking profits.

I took a lot of profits, maybe too much but hindsight is always better.

[bitcoinVPSD]

I see a lot of people here (especially newbies) get excited when the market is pumping and rejoice on the percentage increase in the coins they bought, but complain bitterly when they market turns bearish and their portfolio goes down.
What most of them fail to realize is that, no matter the percentage increase a coin makes for you, it is not your profit or money yet until you take it off (take Profit). When investing in any coin, you should have a clear strategy, (i.e. an entry price and an exit price) and once the market reaches your exit price target, take a good percentage off to pay yourself, do not let greed set in. The market is very unpredictable and can turn on you anytime, but if you pay yourself, you won't have any regrets.

I think this is prudent when it comes to trading, but is it really that good? I mean in all circumstances. Setting a fixed target, it can cause a few malfunctions when the market does not move as expected. You may lose money even when you don't hit your target, or you may regret selling too early. You know what I mean? Being cautious is not a good thing

[Onuohakk]

I don't hesitate to sell off my altcoin when am in desperate need of money. I can't be hoping and believing to what am not sure of whether it will give mouth-watering profit within a short period or not. I only go for the small profit I see when am in need than hopping on uncertain profit that is yet to be known when it will be actualized.

[Stalker22]

It doesn't matter how you look at it, there is no easy formula for taking profit because the future is unpredictable. Investors are often surprised by the performance of many coins.
As an investor, I know that sitting on huge gains is a good problem to have, but it can still be a problem if you don't already have a game plan in place. On the other hand, we could end up missing even higher profits tomorrow if we sell today. This happens all the time – to everyone.

In my opinion, there are basically three ways to go about this:

- Just hodl it indefinitely. Like those who invest in stocks for retirement, for example.
- When you buy the coin, you set a target and stick to it. Then, once the target is reached, sell the coins and make a new plan.
- Cash out a portion of the profits gradually. Sell 10% and leave the rest for a couple of days or weeks. If it goes up again, sell 10% and leave the rest again.

Most of the time, I opt for the third option, but it does not apply to my long-term goals, which I lock in for years.