Buying is just the beginning of the journey, but selling is the final point that determines whether you're profitable or not. Many master the art of entry, but fail at the art of exit, turning paper profits into real losses. Here's the pro's tactic:
1. Don't marry the currency:
The biggest emotional mistake an investor makes is "falling in love" with a particular cryptocurrency. Once the currency achieves your predefined goals, exit it. The market is full of opportunities, and there's no room for emotions.
2. Gradual Selling Strategy:
Don't sell all your coins at once. Start taking profits in stages:
When you achieve a 25% profit, sell a portion of your coins equivalent to your original capital. This makes the trade completely "free".
Then, sell another 25% when you reach a higher target, and so on. This ensures you lock in profits while leaving room to benefit from further upside.
3. Exit Indicators (Signs to Exit):
Don't rely on wishful thinking. There are clear sell signals:
Break key support levels: when the price drops below a strong support level, it may be time to exit.
Declining trading volume after a significant rise: may indicate weakening momentum and an imminent buying surge.
Unexpected negative news: don't hesitate to exit immediately when critical news alters the project's fundamentals.
Golden advice: profits that aren't taken are just numbers on the screen. Turn these numbers into real liquidity#FOMCWatch #BinanceHODLerBREV $XRP
