Always pay yourself first!!!!!

[ogundowotoby01]

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.

[1714122439]

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[1714122439]

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[1714122439]

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[Upgrade00]

Having an investment plan is very important when putting money into any venture. The values and figures may not particularly be set in stone and should be adjusted if necessary, but do not venture in without a savings plan.

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).

Conversely, no matter how much the price drops, you have not lost until you cut your losses. It's alright to take profits so as to reduce how invested you are in one asset and diversify into others, but newbies should not fear price drops or regret when the market turns bearish.

[bitmover]

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.

That strategy is very conservative, and it has some positive and negative side.

The good side is that you will get your 50-100% gains and you will get out, taking a high percentage of your investment. I think this is good strategy if you are dealing with shitcoins which are just pumping without any fundamentals.

On the other hand, if that coin just hit 2000% 2 years later you will highly regret. I think this often happen to bitcoin and ethereum, which are the projects with better fundamentals and investors should have a long term strategy with those coins.

Personally, i believe it is a good idea to sell a small percentage of your gains every time the coins make huge pumps.

You can sell about 1% every time the coin gets a 100%, or sell 10% when it makes 1000%.

I also like to sell all my altcoins when they pump to trade them back to bitcoin, so I keep track of COIN/BTC ratio all the time.

[Stalker22]

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.

The fear of missing out may be the motivation for sales but you're better off waiting for your best opportunities. But, according to past experience, it is better to be a little late than to sell too early.

Some tips:

-Take profit when the long-term trend reverses by which time the price is no longer elevated from where it was before the start of the trend.
-Start to take profits when the downward trend is evident.
-Don't sell during high volume.

[aoluain]

There is a lot of ways to consider a profit taking strategy.

I know some people who have taken their initial investment amount out
after realising a healthy profit, therefore what they have left is pure profit and they
see it as a zero loss game.

There are those who take a percentage of the profit at a certain time but as @bitmover
stated taking an early profit reduces the potential future profit amount.

your $10,000 profit today could be $20,000 when Bitcoin passes $100,000!

As regards $hitcoins i would advise taking profits when you can and when
that $hitcoin is in trend. Trends change, for example look ar TRON, EOS and NEO
for example, they used to be in the top 10, they were replaced by newer
trendier coins in the hope of get rich quick seekers.

[Bitcoin_Arena]

I think it all comes to one's targets when it comes to how much profits they would like to make before cashing out and how much they have invested.
Personally. I am now satisfied taking some profits when my portfolio value goes by over 200%

That reduces on the pressure when I continue trading further to generate more profits. I learnt this from 2018 when I made over $15K from $400 within a few months only to lose the nice profits just to around $4K and do you know what led to my slow decision making all the way to $4K?

It was because I thought the price would rise again immediately after the first initial correction and I would make $30k or $50K in the next few months. I was wrong.

[mk4]

When talking about altcoin bets, then sure. With bitcoin though, if you really don't need the cash yet(It'll be different from person to person), I'd say just hold through the ups and downs. A lot of people(probably a huge majority) would've had a lot more bitcoin right now if they didn't attempt to time the markets by trying to sell at higher prices to (hopefully) buy back lower.

[libert19]

Regrets will be there because if you take your profit and it climbs even further, you will regret selling. I'm saying because I sold uni/ether far too early, even tho those prices seemed nice at that time.

[robelneo]

Make sense whenever you invest in a coin or you are planning to invest there should be an entry and exit point, the best entry point is when the coin you are planning to invest is dipping and it's up to you what percentage of profit you want to sell it for profit.
If the coin has huge potential in the market and holding it here will bear long term profit, do not sell all of it retain a good percentage but always see to it that you are paying yourself first, the market is highly volatile but if you pay yourself first you are in a very position to continue Hodling it.

[Looper_U]

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.

That strategy is very conservative, and it has some positive and negative side.

The good side is that you will get your 50-100% gains and you will get out, taking a high percentage of your investment. I think this is good strategy if you are dealing with shitcoins which are just pumping without any fundamentals.

On the other hand, if that coin just hit 2000% 2 years later you will highly regret. I think this often happen to bitcoin and ethereum, which are the projects with better fundamentals and investors should have a long term strategy with those coins.

Personally, i believe it is a good idea to sell a small percentage of your gains every time the coins make huge pumps.

You can sell about 1% every time the coin gets a 100%, or sell 10% when it makes 1000%.

I also like to sell all my altcoins when they pump to trade them back to bitcoin, so I keep track of COIN/BTC ratio all the time.

We all have different aims boss, I believe that if money comes at the right timing to solve a problem in your life their is nothing more greater than this, it's why I don't regret whenever I sold a coin and it later pumps hard, did I make the money at that crucial and vital time? That's all that matters to me

[Ceyflix-Rez]

The rules of investment is making back that return of investment first, if you invest 5000$ in any coin and it's already surging I expect you to take out your 5000$ first, that's ROI secured and your gains can be used to take Futher risks, it's how I role and it's why I sleep at night with zero panics

[Daniel91]

I agree with these tips.
In fact, emotions are the biggest enemy in any market.
One should separate emotions from work, set a clear goal and stick to it no matter what.
This is very difficult and that is why when the price falls we always see panic sales, while experienced people are always waiting for such opportunities to buy cheaper.

[Zilon]

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.

Having an investment plan is a pretty good idea. But for an investor it is expected that you make profit both from Bullish and bearish trend except you are only adding to the market capitalization thereby having plans of making profits from bullish trends alone. The structure still remains buy low and sell high. During bearish trends it's a perfect timing to buy more and wait for a reversal

[Peanutswar]

Making an investment is a challenge this requires information about the particular coin you want to make with this is a common mistakes came from newbies every time there's news about the coin or for the upcoming coin they want to pursue having an investment and encourage other people even though they don't have any kind of assurance they will win the market position. The best way to get profit is always to understand the market of the coin you want to go in not all the time the source of information came from different people. Always make sure you manage the chart of your investment preventing unexpected down trends.

[tranthidung]

Personally, i believe it is a good idea to sell a small percentage of your gains every time the coins make huge pumps.

You can sell about 1% every time the coin gets a 100%, or sell 10% when it makes 1000%.

I also like to sell all my altcoins when they pump to trade them back to bitcoin, so I keep track of COIN/BTC ratio all the time.

My strategy is

• Selling when price has a crazy pump in order to get my capital back. I will take my capital and keep it safely first.
• Next, take profit with some percent of the rest part. Profit is only profit if you take it.
• I usually allocate 10 to 20 percent of the rest part (after take capital and profit) to let it runs with time. I consider it as gambling, a crypto jackpot

[Stanlo]

Regrets will be there because if you take your profit and it climbs even further, you will regret selling. I'm saying because I sold uni/ether far too early, even tho those prices seemed nice at that time.

Still greed, you needed the money that's why you sold and youve already make some profits, if one has a plan to hold for a very long time that person must have other ways of income, this way you will be at ease when holding coins even if the profits aren't good enough, the reason why people sell too early is because they have daily needs to survive.

[isaac_clarke22]

For Bitcoin, it won't be a loss when you don't cash it out while you're on the reds however price correction are quite common than others think that is why we're getting panic selling when the market gets bearish.
For other altcoins, it is a loss obviously regardless since the price hike could be just from the hype of the community.

[TheMimic1]

The first thing I expect everyone to do is to fight for their ROI, make back what you invest first before anything else this is the only way you will be in calm mode, when your coin or token is pumping don't hesitate to take that profit before it's too late

[sedinvore]

Regrets will be there because if you take your profit and it climbs even further, you will regret selling. I'm saying because I sold uni/ether far too early, even tho those prices seemed nice at that time.

This is a very good point. I feel the same way as you.

We can make a profit margin and no matter what happens, we won't sell before we hit our margin.

[hatshepsut93]

The market is very unpredictable and can turn on you anytime, but if you pay yourself, you won't have any regrets.

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.