Milford Schutzenhofer ugiz

Let's Lalk About Taking Profits
Let's talk about taking profits (might be a little long but I think it can be worth it)
On 04/01/24 I provided you with my macro “taking profits plan”
what my targets are and when, therefore, consider to extracting the majority of capital from the market.
But I want to add something more to the topic, starting from the mental traps that block us from this crucial practice:
•We feel FOMO as we regret not getting in on a coin that keeps rising
• We’re greedy and we don't take profits because we think prices will go up more and never return to previous lows
• We feel the need to be always in position and we’re uncomfortable holding stablecoins, thinking that we’re missing gains and people around us are becoming rich
• Even relief bounces make us greedy, thinking the uptrend will resume so we prefer to hold
• We don't take profits often, so when we do it, we’re feeling bad as it isn't normal (practice the art of small selling from time to time)
• Our friends don’t take profits, instead they talk about how much future developments will impact the price, so we prefer to don't sell
• We feel too much like part of a community so by selling we’re thinking of leaving them alone and not believing in the project anymore
• We don’t have an exit plan
• We lack in technical analysis
These are the common things that usually stop us from achieving our goals.
We can read these mistakes 10 times a day for 365 days, but we will deeply understand them ONLY through experience, and that's why getting rekt is the supreme teacher.
Talking of a more “concrete application" instead, there are different solutions for taking profits:
▫️Reverse DCA ~> Which means that, as you slowly put your capital into assets, you also extract it step by step once things become hot.
A few tips on this method:
• The more aggressive the candle, the more aggressive you must sell it.
• Cut between 10/15% depending on the candle size.
• Once you sell, never look back.
▫️Systems ~> Which means creating iron rules depending on your risk tolerance.
If we assume you start with 1000$, there might be 2 ways:
• Conservative: investment increases 50% ~> $1500 ~> You take out 75% in blue-chip/stable and let your 25% left be your running bag.
• Moderate/Aggressive: investment increases by 100% ~> $2000 ~> You take out 1000$ in blue-chip/stable and keep the other 1000$ invested OR use the 1000$ to split 500$/500$ into 2 plays.
Systems make sure that you'll take profits in a cold way as long as you respect your initial strategy which depends on your risk tolerance.
{ My strategy }
I don't use the above-mentioned practices to take profits, and that's because of my “chartist attitude”.
This means that, apart from specific cases (coins pumping out of the room prematurely) I will evaluate:
• BTC HTF structure
• BTC D. implications
• Retail interest
• OTHERS parabolic move
• Few other metrics
Before taking profits.
On my TP strategy, I will sell at determined levels almost the entirety estimated at 80% while the other 20% will remain as a “moonbag”.
This might be the riskiest method for someone but for me is the one I'm comfortable with the most.
👁️ A few additional and final tips on taking profits 👁️
• There is no single profit-taking strategy that is better than the rest as it comes down to your plan, risk tolerance and skills
• Your goal should be to play one cycle extracting more profits as you can in order to compound them in the next bear market/opportunities ~> less moon, more realistic targets
• Life is short, so reinvest profits and enjoy your life by spending time with loved ones, taking that vacation, and rewarding yourself for your hard work.
• Taking profits does not mean rotating and jumping into new coins, at least not too much so don't dump a coin to chase a new one or you will kill your chance to make money.
#binance #Bitcoin #etf #sec #Ethereum

1. Learning: Before starting trading, thoroughly study the cryptocurrency market, analysis, and technical indicators.2. Risk Management: Set clear loss limits and use stop-loss orders to protect against significant losses.3. Diversification: Allocate your investments across different cryptocurrencies to reduce risks.4. Market Analysis: Stay updated on cryptocurrency news and market analysis as it can impact prices.5. Discipline: Stick to your trading plan and avoid emotional decision-making.6. Use of Technical Tools: Learn to use technical indicators and charts to make informed decisions.7. Researching Projects: Before investing, research cryptocurrency projects and their fundamental aspects.8. Account Security: Ensure the security of your account with proper security measures, including two-factor authentication.Remember that cryptocurrency trading involves risks, so be cautious and prudent in your actions.#TradeNTell #BTC🔥🔥 #BTC

Dogecoin is a cryptocurrency created on the basis of a popular internet meme about a funny Shih Tzu dog (hello Shibain) that became known as "Doge". Launched in 2013 by businessmen Billy Marcus and Jackson Palmer as a humorous alternative to other cryptocurrencies, Dogecoin was initially intended for fun and tea charity. However, thanks to community support and social media, it quickly gained popularity. Dogecoin has also become known for its active fan base and use in charity campaigns. Although Dogecoin started as a joke, it has gained significant trading volume and notoriety in the crypto community. Recently, Dogecoin has gained attention thanks to support from prominent personalities and events such as Elon Musk and others.1. Dogecoin was launched on December 6, 2013.2. Based on the popular "Doge" meme with a funny image of a dog. 3. The first block of Dogecoin is called "Genesis Block".4. The first thousand blocks of Dogecoin are called "premine" and they were mined faster than the rest of the blocks.5. The maximum limit of Dogecoin is 130 billion coins.6. Dogecoin uses the Scrypt.7 mining algorithm. Unlike many other cryptocurrencies, Dogecoin has a faster block generation time of 1 minute.8. Dogecoin is widely used in charity events and helps animals and other humanitarian causes. 9. At the beginning of its existence, Dogecoin became one of the fastest growing cryptocurrencies. 10. The average time spent on generating a new Dogecoin block is 1 minute. 11. In 2014, Dogecoin supported the Jamaican Olympic team.12. At its core, Dogecoin was a great experiment in open development.13. Dogecoin uses the rich data exchange protocol JSON-RPC.14. The Dogecoin community is known for its fun and positive expressions of support. 15. In 2014, Dogecoin saved NASCAR driver Josh Weiss by helping him raise funds to participate in the race. 16. The founders of Dogecoin chose to release a large number of coins so as not to create a high price per coin.17. Dogecoin can be mined by individual miners using graphics processing units (GPUs).18. In 2014, Dogecoin ran a fundraising campaign to fight the Ebola virus.19. Dogecoin uses mining reward reduction algorithm (DigiShield).20. The Dogecoin community also participated in fundraising for the 2013 Oklahoma tornado victims.21. For a while, Dogecoin was the fourth largest cryptocurrency.22. The Dogecoin currency unit is often denoted by the symbol "Ð" or "DOGE". 23. Dogecoin became the first cryptocurrency supported by the Coinbase exchange in 2019. 24. Dogecoin has its own address generator that can be used to create new wallets.25. In 2015, Dogecoin ran a campaign to award scholarships to students. 26. Dogecoin uses a mining algorithm that allows miners to receive more frequent rewards by reducing the difficulty of mining.27. In February 2021, Dogecoin experienced an impressive price increase following tweets from Elon Musk and other influencers.28. Dogecoin is very popular among traders on cryptocurrency exchange platforms.29. There is a tradition of "Doge Day" (December 20) when fans express their love for cryptocurrency.30. In July 2020, Dogecoin was used to raise funds to support the NASCAR Foundation charity.31. Dogecoin can be used for micropayments over the Internet. 32. Dogecoin has not experienced any major attacks or network failures since its inception.33. Mem-tocen#BTCUSDT #DOGE #ETH #SWEAT

BNB or Binance Coin is a cryptocurrency created by Binance, one of the largest crypto exchanges in the world. BNB is used to pay for fees on Binance and other services on their blockchain. It is also used for ICOs on Binance Launchpad and as a trading pair on many other exchanges. BNB gained popularity due to its use and support of Binance.1. BNB (Binance Coin) was released by Binance in the summer of 2017. 2. BNB is based on the Binance Chain blockchain.3. BNB was originally created as an ERC-20 token on the Ethereum blockchain.4. In 2019, Binance migrated BNB to its own blockchain, Binance Chain.5. BNB uses the Delegated Proof of Stake (DPoS) consensus algorithm.6. The maximum limit of BNB is 200 million tokens. 7. BNB can be used to pay Binance Exchange fees with significant discounts.8. Every quarter, Binance uses a portion of the profits to buy back and destroy BNB, which helps reduce the total amount in circulation.9. The percentage of BNB tokens destroyed as part of the redemption increases every quarter. 10. BNB is also used as a currency for use on Binance Launchpad, a platform for conducting ICOs.11. BNB tokens can be stored in the official Binance Chain wallet or other compatible wallets.12. BNB is supported by many cold wallets to store cryptocurrency offline. 13. BNB is also used to pay for goods and services on platforms that accept cryptocurrency. 14. BNB can be traded on numerous crypto exchanges outside of Binance.15. Binance Card allows users to spend BNB where Visa cards are accepted.16. BNB has become one of the most capitalized cryptocurrencies in a short period of time.17. In 2019, Binance launched BNB Vault to store and earn BNB.18. BNB can be used to vote for changes to the Binance Chain.19. BNB tokens can be used to participate in other blockchain projects built on Binance Smart Chain.20. Binance Smart Chain is a parallel blockchain of BNB that supports the creation of smart contracts. 21. PancakeSwap - one of the popular decentralized financial platforms built on Binance Smart Chain, uses BNB to vote and manage the platform. 22. In June 2021, Binance upgraded the Binance Smart Chain to improve speed and scalability. 23. BNB is also used to create and manage NFTs on the Binance Smart Chain.24. You can stake BNB to get additional tokens or participate in network voting.25. BNB is one of the first cryptocurrencies to be added to the Visa and Mastercard payment systems. 26. In 2021, BNB reached its all-time high in value, driven by high demand and the development of the Binance ecosystem.27. In June 2021, Binance announced plans to create a decentralized exchange (DEX) based on the Binance Smart Chain.28. BNB is used to create and manage accounts on Binance Smart Chain.29. In 2021, BNB received support from the PayPal payment system, allowing users to transact with BNB via PayPal.30. BNB tokens can be converted into other cryptocurrencies or fiat money through various exchanges and platforms.31. BNB can be used to pay for services on platforms that accept cryptocurrency, including tourism, hotels and others. 32. BNB tokens can be exchanged for other cryptocurrencies 33. Used on other exchanges#bnb #BTCUSDT #economy #Interesting