Making it public - makes one accountable
Pulling the trigger
That is where my weakness in crypto currently is. I know the theories about taking profits, and I am usually pretty sure when it is a good time to move a small percentage into stable coins. I was looking at my ETH and thinking $3900 is good. It has been sitting here for a few days, it will break in one direction or the other. The upward potential keeps me from trading. It cost me today. I was thinking $12 would be good to take profits on RUNE... it made it to $11.87... hindsight is 20/20.
Small victory
I hold some HEX, and I noticed that it more than doubled since I purchased it. So, I took 10% off the top. I will take it and let it be the first of many successful peak sales.
Moving forward
If I am going to succeed in Crypto the way I intend to (which involves not getting completely rekt next bear, but rather have a stack of stables to buy 10x in the bear), I must get into the habit of taking small amounts off the table. We could be 4 months away from a 4 year high point in the market. If I fail to get into the habit of locking up gains, I will end up holding on for a long way down... AGAIN!
The key to navigating a volatile and unpredictable market is to lock in gains often. My goal, that I am stating publicly, is to improve locking up gains.
Say it loud
If you ever have anything that you want to accomplish, saying it out loud makes it more real. It brings you a step closer to it. It holds you accountable as you know that it is no longer your secret. It has been proclaimed.
Conclusion
It is not a lot of money. If I were taking profits 2 days ago, I would have $300 in stable coins that I would have gotten to buy in at a cheaper level. We are talking about a few hundredths of an ETH and 1 Rune... That is not the point. In 4 years, it could be $15,000 that we are talking about. Getting into the habit of taking profit is what separates the whales from the hodler's. If I master the art of locking up gains, the reality is that the gains will continue to get bigger. This is a skill that I will be consciously making an effort at improving. People always tell me to buy the dip... I'm all in over here. I can't buy the dip as I never sold the peak. Selling the peak allows on to buy the dip. If the peak goes higher... you got some profits locked up for a later dip... they will always come, that we can be sure of.
Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
Great strategy @allcapsonezero. Earlier I used to put all of my funds back to their original position but now half of it goes into stables. Before market volatility screws you, you safeguard yourself. ✌
Then you BTMFD! 😁
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Like someone once said to me, "you can never go broke by taking profits", so i dont wait for the market to perform magic before i sell
I think , I need to learn and master this act of locking up gain as well. In other not to get screew and avoid the story that touch.
That's why I am powering down at the moment to have liquid hive xD
Having HP is great for voting but bad for trading
I had to remove delegations... my powerdown starts tomorrow.
Surely, you need to start learning to take profit so you can always have stable coins to buy the dip
Now that you have made this public, you are countable to all of us
So you will be motivated to try your best
I wish you the best in all your financial endeavors
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STOPCheck out the last post from @hivebuzz:
I think and do like this
If my money problem is short term (which is usually haha) I sell what I can at any hike, I always leave a little anyway.
Over time, I have others that I'm leaving and leaving for a future that won't be the present one. Of course there are exceptions... But basically I'm going like this. The frustration goes away and I'm fixing a little of my day to day and still planting for the future
I completely agree with you. Talking loudly to yourselfs imbibes a lot of confidence on an individual. I know that feeling. And before you know it you are doing what you never thought you were able to do because of the fear you had that kept pulling you back.
Krrrrrrrrrru! Pow pow pow!!! Pull the trigger!🔥🔥
Good logic !PIZZA 🍕
@allcapsonezero! I sent you a slice of $PIZZA on behalf of @darkflame.
Did you know PIZZA team has a curation trail with 29 followers? (1/20)
That is always a dilemma. When to buy, when to sell. Like you, I know when I should buy, and when I should sell, but greed and/or fear made me waited for it to go higher, or lower before I take action - which ended my missing the boats - boat after boat. 😊