Hello fellow traders,
In order to maximize your returns in the upcoming months, you can’t lethargically sit on your bags. Ninety-nine percent of people do this and, sure, they also earn profits, but the remaining one percent earn the most. There are two aspects to this: sometimes it’s best to have diamond hands and hold your promising bag so you earn the most from it, and sometimes it’s wise to sell your coins and get out after you make a good profit.
Think like a smart trader, do some work, start analyzing your bags, and arrange them like a pro. It is a great time to reevaluate your portfolio so you can maximize your profit in the upcoming bull run. That’s what I have been doing for the past few weeks. If you’ve been holding some bags that you think cannot deliver, then it’s better to move on to some great projects that are working hard and sound promising. You should never get emotionally attached to coins. Some people say, “Oh, I love this coin; I would never sell it.”
That’s a very screwed up thing to say, in my opinion, because you are not here to join a cult. You are here to juice the market in the best way you can. If you’re not here to earn dollars, then sure, buy your favorite coin and join the fandom on Twitter.
Another benefit of selling and being in profit is that you will not end up being like Dave. If you don’t know Dave, Dave is the biggest diamond hands you will ever see. He won’t sell his bags until they will make him at least 50x profit. He doesn’t care about little crypto dumps and he is totally unbothered when his portfolio goes down. Here’s Dave
So here are a few things you can do to maximize your profit:
- Instead of chasing so many projects, keep your portfolio limited to a few tokens so you have more exposure.
- You can’t buy every coin, so don’t put your money into every coin you see someone talking about. Instead, try increasing the size of the bags that you already own.
- Most of the time, influencers promote a crypto. When they say, “Oh, this crypto looks really promising; I am going big,” it’s a paid shill. They got paid in the token itself, and when you normies buy it, they sell their tokens. Again, not everyone does this. Some people are genuinely wise and do their research and talk about good projects. But it is difficult to tell who is who. So better do your own research, read about projects, their roadmap, the team behind them, and then decide.
- Decide your exit point at the same time you decide your entry point in a crypto. Right after buying a coin, you should plan your exit strategy too. Gone are the days when you could buy some coins worth $1,000 and all you had to do was wait three years to be a millionaire. Don’t hope for extreme profits like 10,000x. Some projects are going to deliver massive profits, but still, book profits in steps because no one goes broke booking profits. Booking profits is always good, and if you won’t, someone else will.
6 Responses
Thank you!
Hey Mr. Wolf,
Look forward to learning more about getting better as a trader and investor. There is always a compromise between having good bags big enough to have a good impact on gains, and picking the good bags. Spreading accross different tokens increases the chance of picking winners, but spreading to thin decreases the gains because the bags are smaller.
Finding the balance is the most difficult game and here I struggle the most. Hope I got it right for the next run.
If Dave isn’t bothered about the dump, why is he sweating?
That’s the joke!
Thanks for sharing. This is a mistake I made last cycle, need to offload and stock up on better coins. Do you recommend taking profit when your double your money and leave the rest to ride the cycle?
This is Awesome! Thank you