How and when to take profits in crypto? đž
Profit-taking depends on your financial situation. If you have debts, take profits ASAP to pay them off. If youâre financially stable, you can stay invested longer and take on more risk.
In a bull market, take profits gradually as prices rise. Watch market sentiment and sell when everyone is overly optimistic. Alternatively, wait for a clear top and sell a significant portion after the trend shows weakness đ
If you have a financial goal, sell when you reach it. Achieve your target first, then consider holding the rest of the assets to increase the potential upside.
đ§ Use intuition and sell when you feel most euphoric about gains, for example, sharing screenshots of your profits with friends is a clear signal that it's time to derisk.
Thereâs no universal strategy. Tailor your profit-taking to your unique situation and adjust as needed to avoid future regret.
Most people who 100-1000x their portfolio fail at taking profits and end up with (if lucky) 50% of that đ€·ââïž
