Even though I participate in Hive Power up day event and do a small power up when it is the first of every month, I also do not hesitate to book some profits. I have been doing that in recent months. I have some plans from the profits I book from Hive.
Still, all my curation rewards and post rewards are getting powered up. I only take out the half Author rewards I get from posting. I use them for paying my bills every month and the remaining to invest in other things. I have been experimenting with this for the past few months. In spite of taking some Hive out to the market, I have also been saving a minimum of 100 Hive every month to participate in the Hive power-up day to power up a little more.
We all know how posting rewards are a kind of gambling here on Hive. Some posts get better rewards and some posts just end up in cents or a few dollars. It is quite rare that we usually get a big vote on our posts. At least this has been the case for me.
I have been maintaining my consistency in posting for the past year. On average I make at least a minimum of 1 post per day. There were at times when I get sick or have health issues, I'm unable to do some posts. Otherwise, I usually make it 1 article per day minimum sharing my thoughts and progress in the form of an article.
Booking profits is important
The reason why I say this is because there have been instances when I have seen the price of tokens I hold pump but I would have thought that I should wait for some more time to close it and book profit. By thinking that I have missed lots of opportunities. A few days back I missed a similar opportunity where the price of TELOS pumped and I watched it when the price of the token was at its peak but I didn't bother to book any profit.
I should have at least sold partially and closed my position so that when I see an attractive value, I would be happy to book a profit and exit. I have to train my mind on this. If the price of that token goes far higher, I shouldn't worry about it and if the price of the token falls down again, it is a good opportunity again to purchase more tokens for the same price.
This is one of the biggest reasons why booking profits is important. In the last few weeks, I noticed the price of some of the tokens were fluctuating between a low value and a high value. If I had been wise enough to purchase low and sell high, I would have increased my portfolio value to a great extent.
I'm planning to take some risks by booking profits on the tokens I hold for the long term to see my luck. I shouldn't worry so much as long as the price of the tokens is higher than my bought price.
Posted Using LeoFinance Beta
