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The intelligent strategy is to do progressive selling on the way up rather than try and predict the absolute top, which nobody realistically can do. Progressiv
by fleddr 4y ago
The intelligent strategy is to do progressive selling on the way up rather than try and predict the absolute top, which nobody realistically can do.
Progressive selling on the way up is emotionally very hard to do, as it feels like you're losing money whilst actually being in profit. It's tempting to fully ride the top. Don't.
Next, when the inevitable crash comes, you're uniquely positioned to buy in heavily as you have the dry powder to do so. This too is emotionally hard as everybody is fearful, "blood in the streets". Here too you can progressively buy in rather than try and predict the bottom.
This strategy only works for things that bounce back, which is not true for almost every altcoin or shitcoin.
You can also take permanent profits. Once I made my first significant profit, I took out my initial investment so that effectively I'm in crypto only with profits. I could lose it all and whilst that wouldn't make me happy, it wouldn't truly affect me either.