Take a bite now tomorrow may be too late

When a sumptuous meal is presented to you whether in an exquisite restaurant or just in the comfort of your home, it is not a great idea to overlook such a meal because of one form of discussion or the other. After all, the person who presented the food to you did not do so just for you to look at it and not have a taste or preferably eat it all. Have you found yourself around the beach or a swimming pool, how do you know the temperature of the water if you do not deep either a leg, hand or even splash some water on yourself? This is what happens to most of us in this crypto space. I have seen a lot of people investors who have made millions if not billions of money in crypto. They did not do so by just studying and investing rather they did the most important of them all. For a newbie in the crypto space, it might seem less important or secondary to you because you are more concerned with getting your analysis right to avoid hitting the rocks and this makes you forget a very vital part of the entire ecosystem.

Can you imagine a student who has spent days, weeks and even months attending various lectures from different lecturers or teachers as the case may be and after writing various exams, he/she is not issued with any result? I believe such a student will not be happy because it is the result that will tell him how well or bad he has done, which in turn should motivate him to consolidate on his success or labor harder to do better if it turns out he did not pass. Now, this is the plight of a lot of young investors in the crypto space. It is not particular to crypto space it is a general thing that should be looked into as long as it deals with investment either in money or time. Just in the last few days, there has been a well-publicized pump happening around a meme token which has made a tremendous increase in the market. It is looking more like the case of a rejected stone. The truth is that in this situation, one must act like a person who has been served a mouth-watering meal and yet, he/she decides not to take a bite or a taste.

Have you had of "take Profit?"

This is a statement I have become so conversant with after being a victim of rug pull. It may interest you to know that “taking profit” is as important as analysing the market chart. We all know that the only thing that pushes an investor is profit-making. What will be your gain if after investing in a project you end up not taking your profit when the opportunity presented itself? One reason why most investors go bankrupt is that they refuse to take their profit either out of ignorance or because they allowed greed to set in. it is one thing to invest into a project, but it is another thing to know when to take your profit. Just as we have seen such a pump in Shiba inu, a lot of investors will watch it take the downwards trend by then it will be hard for them to take their profit. The very question you must ask yourself at all times is; when do I take profit?

When do I take profit?

This is a very important question which every crypto investor must find an answer to even before deciding to invest. It does not matter what or how solid the Technical Analysis of a project is, you must be able to know when you can take profit. This is where you create an autopilot in the decision making of your investment plan. The reason for this is because once you do not have a benchmark for where you can take profit, you will end up falling into the temptation of holding on which most times is caused by greed. There has been a significant pump in Shiba inu, don’t doubt it if I tell you that a lot of investors will end up not making little or no profit from this pump just because they have no plan on where to take profit. Taking profit in trading is like driving a car with a functional gas meter that shows you when to stop for a refill. If you are driving a car without a functional gas meter, you will surely get stocked in an area where you may not be able to get help. Another good reason why you should decide on when to take profit before investing in a project is that it will help you to reduce or manage any risk inherent in the project.

Don’t be a driver who drives a car without a functional gas meter because you will end up bankrupt. Investment is wonderful when there is some profit coming from it. For those who are high-risk takers, you can also make plans on when to take profit, after all, the reason why you increased your risk level is that you want a higher profit return. So you see, whether you take a high risk or not, don’t forget that the major aim of every investor is to make a profit at all times. If you have not made plans on where to take profit, do that today and save yourself from bankruptcy. Mind you, this is not a piece of business advice, always do your research.

Thank you for reading.

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