Profit-Taking vs. Diamond Hands: The $SOL Dilemma ๐๐ฐ
You bought a solid project early, and now you're sitting on significant unrealized gains. The big question is: do you take profits or "diamond hand" it for more?
Scenario: You bought $SOL under $40 and now it's trading much higher. Your inner voice is a battle between "Secure your profits!" and "What if it goes to $500?!".
My Strategy: You don't have to choose all or nothing. A balanced approach works best:
De-Risk: Sell enough to cover your initial investment. Now you're playing with "house money," which removes emotion.
Scale Out: Set price targets. For example, sell 20% at the current price, another 20% if it goes up another 25%, and so on.
Hold a Moon Bag: Keep a portion of your holdings for the long term, just in case it truly does reach astronomical new highs.
Remember, nobody ever went broke taking profits.
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