Remember the sentiment in the sub now, and how it was during the last bull run.
When you see people say "I'm starting to DCA into..." after 4 months of being in the green, it's time for you to actually start DCA-ing out. The new guys are going to get euphoria and FOMO for the first time in their life, maybe second if they were here last time. They don't know just how quickly it all changes. If you DCA out, the value of that coin might still go up, but you are took your profit. You might miss out on more gains, but you won't be stuck holding the bag when it comes crashing down.
If you token have an unstaking period (like DOT = 28 days) you need to unstake them well before the price gets to your target. I'm thinking after BTC hit's it previous ATH, I will start to unstake and then just wait for the right time. Previously I waited until my token got too close to my target, unstaked and by the time I could trade them, the price had fallen quite a bit.
You shouldn't be too diversified. I remember people being in like 30-40 different tokens. That's too much to really keep track of. How can you follow that many projects closely? I'd say around 10 tokens. For me it's 70% in two of the top token that have low risk, and 30% in lower MC coins and even a moonshot in there. (last cycle my moonshot gained more than the rest of my portfolio combined, just lucky tho. Previous bull run mooncoins didn't do anything and I lost all of it.)
When you do start to cash out, consider that money is completely out and in your bank account or in a wallet to not be used again for years. Don't try to buy back in after a 30% pull back in the bull, it could go up again, but one of those pull backs, will be the beginning of a rapid down trend and you don't be want to be in when that happens.
Maybe most importantly, be aware of your bias. I'm in a couple irl crypto groups and we "understand" this space and crypto more than the average person. So maybe we believe in the tech more than other people. A regular person might buy Coin A for $4 and then it goes to $20 and they just cash out because they don't understand the space, they just see profit and take it. While the people in my irl group, just held and held because they believed in the project. It doesn't really matter if the token is revolutionary or some dog shit coin, if people aren't buying it, price goes down and you get left holding the bag.
Good luck boys.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments