I've been here a minute, and I listened to my elders, set goals to sell, sold pretty often when I was up, and came out on top this last cycle.
That's being said, when I would talk about selling bere, people would:
Assume I mean sell ALL your crypto at once. --Why would "take profits" mean "sell everything"?
Think I'm trying to FUD their coin/project of choice. -- like seriously, waaaay more than feels reasonable on this end
Sometimes be reasonable and say, yeah, everything is up. I'm glad you took some profits for when things go back down. --I LOVE these voices of reason
So, here, during this slight uptick of FOMO, now's the time to guage your ability to make a plan and follow through on it. Don't get caught in the moonboi echo chamber and miss taking profits that you'll be glad you have during bear markets.
My personal heuristics?
- Pick a level of profit: 50% 2x 3x etc
- pick the amount to sell to at least get back your initial plus some
- wait until it's close enough to set a limit order (if you can)
- or if it's defi, as soon as it's hit the goal, Pull the trigger.
What are yours gonna be this cycle?
Are you gonna practice pulling the trigger?
Cause if you can't do it for tiny profits, it's much harder to do it for bigger gains, imo
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