Crypto Trading: When to Take Profit ?

First and foremost, there is no sure-win formula for market timing, which is why we always advocate HODL with a DCA investment plan for long-term investing. If you want to sell your cryptocurrency to lock in a profit, perform your own research to determine the coin's long-term worth. Sometimes, especially if you believe in a currency, you should consider HODLing.

Furthermore, we propose focusing on maximum profits. After all, it's hard to timing the market precisely, and we don't need to score a home run every time to significantly build our portfolio.

Instead, begin taking a part of your earnings in the 30% incremental level. Rather of waiting for a 50 percent or 100 percent additional gain, concentrating on a modest rise will guarantee that you are not caught in a disheartening 20 percent to 40 percent correction that may hit the volatile crypto market.

Another advantage of focusing on optimum gains is that you may multiply those gains by reinvesting earnings in other currencies that are just beginning to rise in value. Following this strict method will result in high total earnings in your portfolio due to the strong growth.

Finally, we advocate selling only when you have alternative investing options that you DYOR and want to put your money into. It's critical not to succumb to FOMO (fear of missing out) or FUD (fear of being wrong) (fear, uncertainty, and doubt).