Lesson learnt, secure your profits when market bull mode

[The Cryptovator]

I have learnt a lesson: we must secure our profits during a bull run. We must have a goal about our holdings and need to set a target where we have to sell. Otherwise, like me, you may regret it later. I am holding a couple of major altcoins like Solana and Ethereum. A few days back when Trump launched his own token, SOL was pumped hard. It was nearly $300, but a couple of days ago it had dropped $117.

So the gap between the top price and the current price is a lot. That has driven me to think we should have a goal and sell when we reach our target. If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

[goldkingcoiner]

If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

That what you are describing is literally trading. And yes, you can trade and make a profit but the reality of the problem is knowing where is the top and where is the bottom. That is not something anyone can predict with 100% accuracy.

Otherwise every trader would be a billionaire.

[Charles-Tim]

They will sell hard when bear market comes. I warned people about solana after it has increased significantly. I remember when I started advising people to buying, and the price was around $260 when it first hit all-time high that I have been warning people to be careful.

The price was around $210 when I posted this:
https://asktom.cf/index.php?topic=5529486.msg65042118#msg65042118

If solana makes it back to less than $30, I will not be surprised. I think it would be an opportunity for people to focus on it during long term bull market.

[The Cryptovator]

If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

That what you are describing is literally trading. And yes, you can trade and make a profit but the reality of the problem is knowing where is the top and where is the bottom. That is not something anyone can predict with 100% accuracy.

Otherwise every trader would be a billionaire.

I know it can't be predicted, but there are some lessons we learnt from the past that how could a coin react. Also, when you look at the chart, you can notice a coin pumps suddenly, even when Bitcoin and other altcoins are not increasing. If this is the case, then the coin suddenly increased won't sustain longer, and it would dump again.

Of course, there is a chance that it would raise more; that risk you have to take at least if you want to make profits. However, you aren't selling at a loss; possibly you may miss more profits in case the coin raises more. It doesn't matter either know the top or not, but from the sudden pump, we have to get an advantage by taking risks.

[Sanitough]

That’s what we should understand, we don’t just HODL blindly because we shouldn’t forget that our main goal in investing is to make a profit.

Whether it’s long-term or short-term, we should have a target price for selling or taking profit. If we say we should only invest what we can afford to lose, that means we already have a specific amount in mind, so it wouldn’t make sense not to have a target price for selling either.

Just like you, OP, I’ve experienced the same thing, but mine was way back in 2018. The coins and tokens I was holding back then? They’ve already turned to dust.

[peter0425]

So the gap between the top price and the current price is a lot. That has driven me to think we should have a goal and sell when we reach our target. If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

You registered in this forum in 2018 so I would assume that you have been learning about crypto since then or maybe even earlier. When did you realize this? This is something we all should know by now. Only a beginner would not know to buy during bearish cycle and take profit during the bullish one.

Inexperienced newcomers would get swayed by FOMO and start buying when bitcoin is high and start selling when bitcoin is declining because of FUD. As crypto enthusiasts, I actually think that this logic is the simplest thing we should learn about and keep in mind to ensure a successful journey in crypto.

[Charles-Tim]

You registered in this forum in 2018 so I would assume that you have been learning about crypto since then or maybe even earlier. When did you realize this? This is something we all should know by now. Only a beginner would not know to buy during bearish cycle and take profit during the bullish one.

The Cryptovator knows this few years ago. He has posted something similar to this before on beginners and help board in 2020 or 2021 when the price of many altcoins were so disappointing after the significant rise in bitcoin price but before the altseason started that time. I think he is also just disappointed with how solana turned out to be lately which he sees as an advise to people. People should always know how volatile altcoins are and they should be taken as gambling.

[EarnOnVictor]

I have learnt a lesson: we must secure our profits during a bull run. We must have a goal about our holdings and need to set a target where we have to sell. Otherwise, like me, you may regret it later. I am holding a couple of major altcoins like Solana and Ethereum. A few days back when Trump launched his own token, SOL was pumped hard. It was nearly $300, but a couple of days ago it had dropped $117.

I understand your view but you will be wrong if you are feeling hurt by not liquidating your asset when it has risen.

No one is perfect in the world of investment. What if you didn't close it and it's now at $500? There's no perfect modality for this, not even economic sentiment or technical analysis, it's just about our try, discretion and luck. Still, I like it if people could use the technical chart on a larger timeframe to carefully study the possible long-term possibility. I've preached about it many times and it keeps coming to be a huge guide for those who can use it.

[Mrbluntzy]

I believe what the OP has just said, what he has said is true and he is not the only one that has said same thing, I have read a related post and comments before and what those uses also said that they don't want others to make same mistakes that they experienced with their investment. I have some meme coins that I bought just a small quantity and because they didn't not give me the percentage I want, I didn't sell and now the price has fall to the price I bought, right now, i don't even know if the tokens will still have opportunity to pump in next bull cycle.

[asriloni]

I thought that you have experienced bull-market several times. It's weird to see how you forgot to take profit when SOL broke its ATH and ETH closest to the 4k. 

I believe new ATH has always become the right time to sell, and forget the market for a while until it goes back down again. I have many of my friends have no price target like you, missed peak, then getting losses now.

[DeathAngel]

Yeah we have all sat on our hands & done nothing, thinking the price will just keep going up. Then when there’s a big correction you panic & think you ruined everything. Stay patient, the prices will go up again this year. I do not think the bull run is over. I admit to panicking a little about the market situation right now myself. Let’s be patient though, it will reverse.

[iBaba]

If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

That what you are describing is literally trading. And yes, you can trade and make a profit but the reality of the problem is knowing where is the top and where is the bottom. That is not something anyone can predict with 100% accuracy.

Otherwise every trader would be a billionaire.

I like your closing statement, if everyone could accurately detect in 100% accuracy the tops and bottoms of every trading chart, all traders will be billionaires and there won't be any thing to leverage on. Trading is quite complicated considering that the market always capitalizes on fluctuations occurring as a result of the market volatility. If you're able to understudy the direction of the market fluctuations for the altcoin in which you invested or traded on this bull run, you will definitely make a lot of money and profits out of the system, but if it is otherwise, you might end up losing more than you predicted.

[bittraffic]

Gotta sell if you see there is no way the price is going up further. Daily chart is always the gauge in every pump, when it hit high and becomes overbought, it usually going down for days to weeks.

I have to sell mine every time and hold my USDT for awhile til there is an opportunity to buy. For now I couldn't see when to buy actually. I'm speculating this June when price hits below 75k maybe? And altcoins maybe as low as possible.

[letteredhub]

I have learnt a lesson: we must secure our profits during a bull run. We must have a goal about our holdings and need to set a target where we have to sell. Otherwise, like me, you may regret it later. I am holding a couple of major altcoins like Solana and Ethereum. A few days back when Trump launched his own token, SOL was pumped hard. It was nearly $300, but a couple of days ago it had dropped $117.

A friend shared similar complain about how he had to lose on taking better profit than what he recently took after seeing that he's losing more after that trump effect pump on many cryptocurrency which he refused on selling even when he wasn't targeting on a long time holding since it wasn't bitcoin he was holding.
Anyway, we learn every now and then from market events and having to regret about them wouldn't solve a thing but we just have to not let it repeat next time and opportunity of this nature presents.

[Gozie51]

So the gap between the top price and the current price is a lot. That has driven me to think we should have a goal and sell when we reach our target. If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

No doubts target is the solution to volatility market because you don't know what the next volatility will bring. But one thing is setting realistic target. I know of certain people who set target on different coins but their target were not reached before the price started dropping and you don't really know the extent it will drop until it gets to the buttom where you are losing part of your investment. Setting target is good but realistic target is better. At least % if you have quarter profit from your investment is a good target. Sol or Ethereum are not the only coins that have been hit after Bitcoin dropped and many hodlers are in regret too but hoping that btc will continue the bull.

[pooya87]

What I've learned by seeing altcoins perform first hand over the years is that they have no real potential because they offer no real utility that can be used in the real world! That means they don't really have a "bull market" where their value goes up. The only have pumps where their price goes up (while their value is low and in many cases zero).

That means the only thing guaranteed about altcoins is the dump.
So we have to adapt accordingly which means never bag-holding any of them and always selling when they are still getting pumped (before the dumping begins).

The only thing with true potential is still bitcoin and that's because bitcoin has a real utility used in the real world.

[Taskford]

I have learnt a lesson: we must secure our profits during a bull run. We must have a goal about our holdings and need to set a target where we have to sell. Otherwise, like me, you may regret it later. I am holding a couple of major altcoins like Solana and Ethereum. A few days back when Trump launched his own token, SOL was pumped hard. It was nearly $300, but a couple of days ago it had dropped $117.

So the gap between the top price and the current price is a lot. That has driven me to think we should have a goal and sell when we reach our target. If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

Common issues raise when there's a bull run came with some traders is they get greedy to possibly get a lot of profit. That's why instead of earning from current condition we have, they end up losing its because they had been caught up with the dump then became greedy again for looking about possibly recovery and earn huge profit. This thinking should be eliminated since what I think the best approach to be made is to sell when we are in profit and don't care about other else that can make us greedy.

Those situation happened to you is another indicator that same mistake would happen to other people if they are not careful on what they are doing.

[Yucky]

Someone said how do you know when is the bullrun like how do you know when is high or when is low that's the thing when the price of the coin is going up some people want to see it reach $1,000 before they sell and guess that's why the author said set a price if this coin move from $100 to $350 then I will sell half or something of that nature because it can drop.

We don't know when it's going to be the highest and you will never know when it will be lower so that's why you will set a price like if you reach $350 I will sell at least half then keep holding to see what happens just in cases like this so let's be guided let's be careful and it's risky so you can't always be right or know what's best you just have to take calculated action as the train is moving.

[Zanab247]

The most important thing for altcoin investors to do when the bull run occur in the market is to check, if they sell at the moment whether it will make them profit or not before they can take a good action that will make them not to lose in the future. If you know that the current bull is not going to favour you, you can hodl the altcoins and wait for another bull run in the future that will make you profitable.

I guess, this lesson you have learned from your past experiences will make you not to hodl altcoin so long, when you know that you can earn little profit from the past bull but you didn't sell because you were not satisfy until the price dump again.

[Dunamisx]

I have learnt a lesson: we must secure our profits during a bull run. We must have a goal about our holdings and need to set a target where we have to sell. Otherwise, like me, you may regret it later. I am holding a couple of major altcoins like Solana and Ethereum. A few days back when Trump launched his own token, SOL was pumped hard. It was nearly $300, but a couple of days ago it had dropped $117.

So the gap between the top price and the current price is a lot. That has driven me to think we should have a goal and sell when we reach our target. If I were sold in a top or near-top, then I could buy it again at a cheaper price. Also, I would have a handsome amount in profit. What do you think?

It has happened to me on several occasions whereby I place orders to $90,000 for instance and the market will be last traded at $89,950 and then from there go down trend and I will be on loss and then be regretting to why I don't set be limited for the market to confirm at that range, same way it happens sometimes that once I set a particular amount to confirm an order, the market price will confirm and still go far beyond it, all these shows that we cannot control it, same way we can't be too perfect in predicting the market, we loose and win altogether.