I have seen a lot of people preaching “take profits” after every 5% spike in the last few days.

While I agree that taking profits is generally a smart move, this overly cautious approach can be detrimental.

Taking profits on some altcoins that have barely broken out of their more than two-year downtrend, while BTC still dominates and the ETH/BTC ratio is on the verge of bottoming out, is pure insanity.

Of course, if you are a trader, take your profits and move on to the next trade.

But if you are like most people looking to maximize your investment returns in the final months of this bull cycle, my advice is to sit back and watch.

Why do I say that?

Because over the years, I have seen too many people get screwed by being overly cautious at the wrong time.

Here is what usually happens:

- Selling too much, too early. - then watch the former assets soar.

- FOMO.

- then they re-enter the market at peak prices, becoming exit liquidity for smarter players.

remember that feeling of melancholy when you watched your portfolio shrink with each passing day?

trust me, it pales in comparison to the agony of watching the crypto you sold soar while calculating how much money you could have made.

even if you are the toughest person on this planet, at some point FOMO and greed will get the better of you - and you will end up making costly mistakes.

so in conclusion

take profits, of course, no one ever went broke doing that.

but don't close all your positions too quickly.

this is a mistake you want to avoid, especially before a potential altseason.

keep most of your positions in the game until you notice the classic euphoria signals.

#BinanceLaunchpoolHMSTR #BULLishWithBULL #BullRally #CATIonBinance #TerraformLabsBankruptcy