Cash Out Early: Secure Your Profits
Here’s a truth you rarely hear but must know: you’ll fare much better by selling your cryptos too early rather than too late. Greed can lead to significant losses, so it’s crucial to know when to take your profits.
When you’ve made gains, resist the urge to keep pushing for more. Instead, recognize when it’s time to sell. Many people say, “not sold, not lost” when they’re in a losing position, implying the market will rebound. This logic works both ways: “not sold, not gained.” During the last bull market, I watched as many aspiring crypto millionaires, dreaming of lavish lifestyles, failed to sell in time and lost millions, returning to their regular routines and jobs.
Your crypto profits are not real until you’ve sold and secured them. Always remember that the market can shift dramatically at any moment, potentially never returning to peak levels. Some enthusiasts might claim that the market will always rise, but no one can predict its future. Not them, not me, not anyone.
To protect yourself, consider taking profits regularly by selling your cryptos. Otherwise, you risk substantial losses and potential emotional distress, which is more common than you might think. Months from now, some will reflect on this message, recognizing its truth too late.
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