99% of people do not know when to sell cryptocurrencies and take profits - Here’s a guide.
Simply put, they buy a coin and don’t even know when to take profits.
And the result?
They regret not selling and lose their enthusiasm.
In this article, I discussed profit-taking strategies that can help you grow:
First, why is profit-taking strategy so important?
Well, in the fast-moving cryptocurrency markets, huge profits can appear and then disappear in a flash.
You need to secure your profits by taking profits from time to time, otherwise you risk destroying your portfolio.
The basics are very simple - set target prices in advance that you plan to sell portions of your investments at.
But applying fixed targets randomly without flexibility can lead to missing out on significant gains or incurring heavy losses.
Here are some professional tips to improve your profit-taking approach:
1️⃣ Sell from positions with different and increasing targets as the market grows. For example, sell 20% of your tokens at a 2x, sell an additional 30% at a 5x, and hold the remaining 50%.
This allows you to continue participating in the rise while taking some profits.
2. Raise your stop-loss level as the price rises to secure your profits.
But don’t close the trade too early - be patient and relaxed.
3. Closely monitor price movements and indicators for signs of trend exhaustion...
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