Seeing those AVAX long posts in the square, people gave several take-profit levels—yet the easiest thing to overlook is actually this: if price really reaches the first take-profit, why should the remaining position still be held?
In *Market Wizards*, trader Michael Marcus recalls that back then, during a surge in soybeans, he impulsively sold all his profitable positions; meanwhile, Ed Sekota, who worked in the same office, didn’t leave just because he’d made money—he waited for the trend to change. After that, soybeans kept hitting limit-ups for multiple trading days, and Marcus could only watch from outside. What he lost wasn’t just an on-paper drawdown; it was the gap/missed upside—the regret of exiting too early and staying sidelined.
This story doesn’t mean “never take profit.” For those watching AVAX right now, what’s more practical is to write out before entering: what portion will be taken off at each price level, and what conditions will guide you to exit the rest. If those conditions don’t appear, don’t let excitement or fear temporarily rewrite your plan for you. Have you ever sold once, only to realize you’d never actually decided what to do with the remaining position?
In *Market Wizards*, trader Michael Marcus recalls that back then, during a surge in soybeans, he impulsively sold all his profitable positions; meanwhile, Ed Sekota, who worked in the same office, didn’t leave just because he’d made money—he waited for the trend to change. After that, soybeans kept hitting limit-ups for multiple trading days, and Marcus could only watch from outside. What he lost wasn’t just an on-paper drawdown; it was the gap/missed upside—the regret of exiting too early and staying sidelined.
This story doesn’t mean “never take profit.” For those watching AVAX right now, what’s more practical is to write out before entering: what portion will be taken off at each price level, and what conditions will guide you to exit the rest. If those conditions don’t appear, don’t let excitement or fear temporarily rewrite your plan for you. Have you ever sold once, only to realize you’d never actually decided what to do with the remaining position?