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What made redditors sell at the top in 2021 - A Comprehensive analysis of 800+ comments

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What made redditors sell at the top in 2021 - A Comprehensive analysis of 800+ comments

Some time ago, I made a post asking people who sold the top in 2021 what made them do it. The post received over 800 comments, many of which provided great insight into what goes through one's head in such situations. The sheer number of comments provided an opportunity to extract valuable statistical information and come up with a definitive conclusion on the best way to recognize when it is time to sell.

I went through all the comments and grouped them into several categories based on the primary reasons for selling:

  1. Luck (needed money) - People with crazy and wholesome stories who happened to need the money at the right time.
  2. Recognized Euphoria - People who stayed immune to the hype and were able to have an objective view of the situation.
  3. Experience - Mostly the 2017 generation. They learned painful lessons from the past cycle and made money in 2021 by actually selling this time.
  4. Noobs asking about crypto - There were lots of these... colleagues getting into doge at the top, relatives, taxi drivers talking about crypto, etc.
  5. Big profits - People who had big profits of 10-100x, which simply had to be taken.
  6. Plan - Had limit sells or time-based sells.
  7. TA - These 6.1% go in line with the famous saying that only ~5% of traders are successful.
  8. Recognized Macro - People who closely followed the macro situation and knew to pay attention to QT and rising inflation (most of us had no idea about these things back then...).
  9. Not Greedy - People who made 2-3x or stopped in profit and were not greedy.

Results: Out of 870 comments 197 were the one with actual answers to the question. Here is the detailed breakdown.

https://preview.redd.it/pxjh7b9gifpa1.png?343&format=png&auto=webp&s=12a5ff57668b8fb2d76f3cfa429649b549972762

https://preview.redd.it/3o22ey0kifpa1.png?944&format=png&auto=webp&s=d67c8c5b877471fbdfb3a123e97915ba33be5989

So... how to sell!?!?

  • 1st option Be a lucky mofo
  • 2nd option Be aware of your surroundings and overall sentiment (IMHO this is subjective and prone to missinterpretation).
  • 3rd and the safest option - have a plan and don't be greedy... added bonus is our prior experience... which at this point we all have.
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