HOW TO KNOW WHEN TO SELL OFF YOUR #CRYPTOS - VOL 1 !!
[ A THREAD ] 𧡠π§΅
[ A THREAD ] 𧡠π§΅
β’ When we had a bullish run last year, there was way too many persons talking about buy this & that coin so I decided to do a video on our previous YouTube channel on Knowing when to sell since there was nobody talking about it....
With majority in the #web3community & into cryptos already knowing how to buy but only a few actually know when they should sell what they have bought.
β’ Yet knowing when to sell is as much importance even more important than knowing what and when to buy.
β’ Yet knowing when to sell is as much importance even more important than knowing what and when to buy.
There are 3 factors that helps me make a decision on when to sell a particular #Crypto
β’ 1 is the nature of the trade;
β’ 2 is the duration of my trade;
β’ 3 is the purpose of the trade duration I will explain briefly;
β’ 1 is the nature of the trade;
β’ 2 is the duration of my trade;
β’ 3 is the purpose of the trade duration I will explain briefly;
To be very practical let's make use of calls I have given to us earlier on here on on the Telegram Channel or from the private groups;
This is characterises why some people are profitable and some aren't profitable despite trading same asset !!
This is characterises why some people are profitable and some aren't profitable despite trading same asset !!
β’First off you must come to terms and agreements that there's always an exit liquidity in all trades and you don't want to be that EL which is possible only if you are early enough to take actions and being well positioned even before the analysis paralysis folks get in you are.
#What do I mean by nature of the trade;
This means what crypto class is the trade ?
Are you investing in a microcap or a Macro-cap or just a pure degen play.
This alone determines my risk sizing. Because it should determine what you are more comfortable to hold longer or not.
This means what crypto class is the trade ?
Are you investing in a microcap or a Macro-cap or just a pure degen play.
This alone determines my risk sizing. Because it should determine what you are more comfortable to hold longer or not.
Also you must understand that a project is good doesn't mean it is the right investment to make;there are so many good projects in the crypto space that has failed to make people money or ended up loosing people more money than those making.
E.g. ......
E.g. ......
This here is why so many persons with a lot of knowledge in Cryptos have little results cause there analysis might be able to identify a good project however that might not be a smart or wise investment. This are two different things and your concern is taking a good & wise step.
The point 3 & 2 are intertwined;
Which is;
I want to find out what Catalysts there are that I am expecting for that particular trade and based on what I'm expecting this will determine how long I should be holding on and when I will sell whether in profits or to take a loss.
Which is;
I want to find out what Catalysts there are that I am expecting for that particular trade and based on what I'm expecting this will determine how long I should be holding on and when I will sell whether in profits or to take a loss.
E.g. Last month I took a trade on #decentralgames not because the project was good which it is but because they had a long series of events scheduled for the month and I decided to hold throughout the month to see if this events will cause a pump in price....
...however this events took place and there was no movement in price, so quickly I decided to close my trade position in 20% loss.
Was it a good project ? YES !!
But is it a smart decision to still hold it ? NO !!
WHY? ππ
Was it a good project ? YES !!
But is it a smart decision to still hold it ? NO !!
WHY? ππ
Because the catalyst for my proposed duration had already taken place and there was no major effect so these confirms that some will favour you and some won't but there should be a valid expectancy reason that triggers you to buy into a project and simply set your targets.
So when a call is given by any influencer or shared in a community; you ask yourselves this 3 things and plan your sell based on them. Some Community like ours normally share the full details of a buy Alert & reasons. All you have to do is not to allow your greed think for you !!
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