#LockInProfits

My lessons from December #MarketCrash

Lock in profit and don’t bet too much on tools!

This is a second time that I lose everything I gained and this time it went even more, I lost part of my original wealth.

This might be controversial as some say stick to your assets and don’t panic sell. But the lesson that I learned is that I have to lock in profit. When the price starts to go down significantly, quickly sell everything. After all we have a tiny profit without losing anything. Better than nothing. Then we can observe what happens to network and later when the fog is gone buy again.

I knew I have to lock in profit, so I’ve set stop loss trailing sell already. But it was activated when a liquidation happened and I lost quite a lot.

So my next lesson: even if I set stop loss mechanism, better to monitor myself specially in market crash to prevent significant cheap selling.

What do you think? Better strategies?