đšLESSON: LEARN TO TAKE PROFITâ đš
Hello everyone!
A too common mistake in trading and investing in stock and crypto is not taking profit. It is one of the first rule of investing and still the most of the people let themselves all the way up and then go back down without gaining even a single dollar.
It is crucial that if you go enough in positive in your investment, whatever it is, you take profit, at least some.
Letâs say that you invest $100 in a coin that does a 10x. It is rare but especially in crypto it does happen. In that moment you would find yourself with $1000. Well now, even if you are in total FOMObecause you are expecting your investment to go to $10k or more, you must at least take back your initial investment of $100. Thatâs the minimum, the ideal would be take profit and bring home at least $500 out of $1000.
It sounds simple but trust me that in the moment of doing it, it wonât be.
Is way more common that people donât take any profits and goes back all the way down, usually losing also the initial investment.
This is always valid.
DYOR and not financial advice, letâs call it suggestion ;).
Thanks for reading,
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See you at the next lesson!
