How to take profit without missing out on further gains

Your bag has pumped so hard and you want to take profit.

This is normal.

Because the only profit you actually make is the one you take.

But you believe in this project. A 10X to 100X from here is still likely.

Heck, we're in a bullrun and pullbacks are rare.

And even when they occur, it doesn't last even a day or a few days at worst.

Plus you're not a trader who charts the market and loves flipping coins like cake.

So, how do you take that profit and ensure that you're not left out if the market continues pumping hard?

Take profit by selling in batches

My first approach to taking profit is this:

• Divide up my holdings into 4 or more parts, depending on how big the bag is

• Determine at what price you're going to start taking profit. That is your base selling price.

• Sell them in batches and at different prices on the way up

Remember the goal is not to sell and cash out into fiat and go on a shopping spree.

The purpose of taking profit is to be able to accumulate more of your favourite coins.

By buying more of it back when the price drops or a major dip occurs.

Don't worry, if you're patient enough, you will catch that dip that always comes around after a pump.

How it works in practice

Let's assume I have 10 ETH which I bought at $400 each. This means my ETH bag is $4,000 heavy.

Bulls take charge and price doubles to $800 per ETH.

I have already determined before now that at $800 or after I X2, I will start selling.

And if the prices keep going up, I will sell some of the bags at $1,000. $1,200, $1500, $2000, etc.

I have also predetermined that I will be selling only 2 ETH at each of the price levels.

So at $800 I sell, 2 ETH. At $1,000 I sell another 2 ETH.

Then at $1,200, $1,500, and $2,000 I sell the rest of the bags accordingly.

What this does is:

• It helps me capture more profits in case the price keeps going up

• And if the price drops from my first or any of the initial sales, I can buy more ETH with the proceeds of previous sales.

Since I am in it for the longterm, I wouldn't regret that I did not sell everything before the price falls.

There's no way I could tell at what point the price will begin falling, so the best course is to follow your plan.

What if the price keeps rising?

Imagine that you started selling at $800, and you finished selling up to $2000.

And due to some magic, the price keeps rising, even up to $5000.

What will you do?

Switch to other equally good coins that are yet to pump that hard.

Or better still HODL your USDT or BTC; depending on what you converted the ETH to and wait patiently for a dip.

There will always be dips, so be patient.

"The crypto market is a device for transferring money from the impatient to the patient." ~ Warren Buffet

Because if you try to FOMO back in, you will not only be able to buy less ETH.

You will get seriously burnt for getting back in at the top.

There's always some risk and luck involved and you can't always 'time the market". Or catch the top and bottom all the time. You must deal with that.

Conclusion

Other ways to potentially capture more profits is to have target prices that are far apart. Especially when you're confident that the bullrun is going to last.

For example, instead of $800, $1000, $1,200 which are obviously too close price ranges, you could set your selling price points higher.

Such as $800, which is your base selling price. Then $1,500, $2,000, $5,000 etc.

Just pick prices that you believe will serve as a resistance on the way up.

Finally, don't be too greedy. Be content with the much profit you have taken and seek out other opportunities or wait for the dip that will always follow.

What is your profit taking strategy in this bullrun? Share with us in the comments section below.