TAKING PROFITS FROM YOUR CRYPTO INVESTMENT BEFORE THE MARKET CHANGES

One of the reasons why most traders and investors are not making money is because they keep believing that the green candles will stay forever. This market is a roller coaster of volatility and making money or losing happens as fast as bullet speed. So knowing when to take your profits is critical skills that every investor/ trader need to develop, helping them to reduce risk while increasing their profitability.

Believe me, I have been in this market for long and I can tell that sometimes it appears very difficult for traders to figure out when exactly to take profits. I have seen portfolio with $4,000 positive increment reduce to almost nothing. Why because not every one have the skills and the courage to take profits when they have them. It's unfortunate that people are still going through this stage. Well, I thing one of the major causes of this is FOMO, especially when the hypes of bull market is all about the media.

WHY NOT TAKE SOME PROFITS AND WATCH WHAT THE MARKET WILL DO NEXT?

So you are always scared of missing the run right? even when you have seen a notable increment in your portfolio. The problem is that you lack an actual plan on when and where to take your first profits while you keep looking at what the market will do next, It's simple. While the hit on the bulls are all about the social media and there are green candles everywhere, you don't have to follow this hypes and get so greedy, forgetting that most traders at the other end are taking a different approach to securing their earnings.

Especially in the crypto space where things changes so quickly, failure to secure your initial profits can lead to heavy disappointment. There are good benefits in securing your profits early, but let's discuss few below.

SOME BENEFITS OF SECURING PROFITS EARLY:

Okay! So securing your profits while you watch to see what the market will do next, offers you some good benefits and opportunities which are;

You have the opportunity to reduce risk in the case of market sudden downturns and major corrections, which could have taken or claimed most of your profits if not all.
While taking some profits, you are sure that your time in the market is not a waste, helping you to align with your financial goals while seeking more opportunities for further portfolio growth.

It is very necessary to take profits, because you have the opportunity to role these gains into other asset class which can help balance your portfolio.


PROFIT TAKERS CAN NEVER GO BROKE:

of cause! traders who take profits when they see them knows exactly what to do. they have all the choices to make; they either reinvest them into other good promising project or take them out to live their lives, getting themselves whatever they need while feeling like a genius. living a good live in this free world. While those who are driven by Fomo and confusion are lefts trapped and broke, ever living in regret from market cycle to market cycle. Am sure that isn't the condition you wish to find yourself in right?.

We have seen Bitcoin go from $80k to $123K, but most people have not taken a cent from it for a profits. Yes of cause I know that BTC will someday hit $1,000,000 price level. However, track how many times market has made corrections and you keep losing your profits back to that market. Meanwhile, you could have secured most of the profits which would have given you the opportunity to acquire more Bitcoins without having to buy more with fresh funds. this is probably the best way to keep your portfolio healthy helping you to make and reach your financial goals with ease.

CONCLUSION:

Anything touching financial investment and trading in the crypto or any financial market carries high level of risk. So therefore it is always important to make good research before venturing into an investment world. Investing in Markets like; stock, crypto commodity or even forex might not be suitable for specific kind of people. Therefore this article doesn't suggest any investment activity as your decision are entirely yours. This piece is meant for educational purposes only.