🐶 Probably everyone has heard the story of a DOGE investor who bought $250k, increased his capital to $3 million, and today bites his elbows because he didn’t sell anything and his coins depreciated to $50k.
The mistake of the DOGE investor is that he was chasing maximum profit and was waiting for the $1 DOGE promised by Musk, but it only grew to $0.7 and for a very short period of time.
How to avoid repeating this mistake:
▪️ Remember that everyone comes to the market to earn money. But in reality, the first priority is not to lose money. Therefore, it is worth giving in to greed and chasing maximum profits only after you have already taken what you invested from the market.
▪️ Even before purchasing, you must make a plan for yourself according to which you will record profit (if there is any, but that’s another story). For example, you sell 10% of coins for every 20% increase. Another option: sell half and take yours after the asset has doubled the price, and the remaining coins are your pure profit. There are a lot of such schemes, choose the one that suits you best.
▪️ Don’t try to catch the maximum of the market - deals at the maximum price only happen in non-advertising screenshots after processing in Photoshop. Your task is to sell for profit as the asset grows throughout the bull market, and leave 5-10% for the immediate peak, in case you get lucky 🤑
▪️ You cannot give in to greed and think that someone else is not selling now and therefore he will earn more money. Paper profits look very nice, but you only get real earnings when you fix your profit, that is, when you sell.
▪️ You can never know for sure whether this is another correction in a bull market or whether the trend has changed to bearish and then headed to the bottom. Decide in advance on the price, if it falls to which you will sell everything and exit the market. Even if you make a mistake, you can re-login later, just don’t do it with all the money you earned, otherwise it was all in vain
📌 Repost so as not to lose