Lesson learnt, secure your profits when market bull mode

[Bushdark]

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.

The crypto market is just unpredictable which is why we need to know what we are doing in the market or else we could even lose more money in the market. The crypto market is not for the lazy ones which is why you need to take profit at when due not trying to be greedy thinking price will go up more or go down more just because that's the only way you could make money in the market.
Take you profits and leave the market if you are day trader or scalper. Greed is the only way we could invest in a project that is obviously crashing and you are waiting to see the end of the game instead of you to take profits and leave the market.

[nelson4lov]

OP couldn't have said it any better. It's important to keep a target sell zone mentally and execute it without hesitation when the time comes or even better, print it out and keep in a visible area so that we're constantly reminded of our target zone to take profits.

I recently read the story of a guy that bought bitcoin passively in the past because he had the conviction that Bitcoin price will eventually reach $100k milestone regardless of how long it takes. He finally took profits around 106K and retired. I asked him if he was satisfied with him returns and he answered affirmative. My key takeaway is that no matter how much conviction we have, we should have an area to take profit.

[TastyChillySauce00]

every rally have peak, I already converted most of my altcoins to stable at the time when people were so bullish and I think i made the right call although I didn't exactly cashed out at the peak but profit is a profit.
that I think what other people should also do as well.

the rally always ends in abrupt way, when people think price might rally further, they forgot fundamental and dismiss their own logic and keep holding meanwhile market already showing pattern of double top and bearish is imminent, that's when you should actually get out of the market and realize your pnl. whatever happened to the coin, whether further going up or not, you already realized your profit and can always wait for the price to go down again.

[el kaka22]

People do make this mistake, but also you could recover from it so it is fine. If you end up selling when it is low, that would be a big mistake, but if you keep holding and miss out selling at the top, you could just DCA and buy more when it is lower so you will be fine. Nothing like that matters, it should not be an issue and we could make a lot more profit this way too.

If you could just avoid making these mistakes, and not sell at the lower price point, you should be fine without a trouble. There are ways people could recover these, but at the end, most of them don't even do it, and they just sell at lower price because they fear and they want to get out before it goes down even more in the future.

[milewilda]

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?

Easy to say but when you are on such condition then you would really be having that hesitance on doing so. The primary thing that comes up into your mind is that what if the price would shoot up even more?
Lets say basing up into that example you have said that SOL pumped to $300, then the primary thing that comes up is that the price might go to $500? This is why you would really be holding up your position because you are really that wanting to have more and thats inevitable or everyone will really be thinking up this way and this what makes that holding up our position and this is where people do missed up that opportunity on securing their profits. Regrets do always come at the end and not on the beginning and this is why that decisions will really be that vary according into your risks tolerance. There would really be those factors on which it will really be affecting your decisions on which it will really be that depending whether you would be holding up even more longer or you would really be that securing profits. If it turned out that you are accumulating for the sake of  long term holds then this wont really be that much of an issue. The only best thing on here is that you should be that securing that profits or sell out when bull run peaks because once that bearish market starts then this will be giving out that kind of feel of regret.

[Cryptohygenic]

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?

That is just the risk of Investing in highily volatile markets. When the asset values skyrockets, out of excitement much will be expected to come based on news speculations or investors greeds.
Haven been experienced in the alt coin markets, you should have an investment goal which could be achieved accurately by taking profits gradually as the market appreciates so that you don't sudden see disappointment in a short term.
Although when you invests on long potential coin, the drop of it market values should not be a panic because the crypto volatile market is potential to fluctuating so, only patient to hold a long time will bring you the fortune to reach your long expectations.

[Marvell1]

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.

I believe that every investor has their goals and everyone knows this but there is a huge gap between saying and doing. It's easier said than done, and things get more complicated and difficult when it comes to controlling greed. That is why not many people made profit when bitcoin hit $100k even though that was our target, and most of us were not new to the market.
Another interesting thing is that we can easily give advice to others, but we are rarely successful in following through on our own plans  .

[jaberwock]

People do make this mistake, but also you could recover from it so it is fine. If you end up selling when it is low, that would be a big mistake,

I won't say that confidently. I mean we don't know him personally. We don't know, what if he can repeat the same mistakes again, despite him saying that he already learned his lesson. As they say, action speaks louder than words. Selling at low is not always bad because what if the price drop more? And then we need money right away. It is only a big mistake if we sell when the price is near zero already. I won't say when it is now zero, because obviously there is no way for us to sell it on that moment.

but if you keep holding and miss out selling at the top, you could just DCA and buy more when it is lower so you will be fine.

I won't say fine again but I can imagine this feeling is tragic. Imagine, buying and spending more than selling for profits? It can have exception though for starters.

[CroverNo01]

The crypto market is just unpredictable which is why we need to know what we are doing in the market or else we could even lose more money in the market. The crypto market is not for the lazy ones which is why you need to take profit at when due not trying to be greedy thinking price will go up more or go down more just because that's the only way you could make money in the market.
Take you profits and leave the market if you are day trader or scalper. Greed is the only way we could invest in a project that is obviously crashing and you are waiting to see the end of the game instead of you to take profits and leave the market.

The marker comes with good and bad news, try as much as possible to be on the winning team. The unpredictable tale of the market is nobody's business, everyone have their target and we know they do differs depending on the strategies implemented by these traders.

Greed kills easily in the market, we can place our priorities and expect to meet them because greed is definitely one hurdle that can rule out our plans in the market. Been a scalper in the market, It means one should trigger the withdrawal order every day once a profited is been recorded, there's no reason to withheld back profits because the profits withdrawal is the only evidence that we're eating good from the market. We should set a day profit for each trade and also a SL to become confident and strict in our dealings.

[Ever-young]

Some people only see goal and selling targets only on altcoins since they are likely fall and takes time to return back to their previous ATH, as for me I have selling target for bitcoin as well if they target is being reached quicker than I expected and my greed don’t want to allow me sell, I will take the route of selling part of it at that target take profit and hold the rest so that if price go above that or fall below that I won’t have to regret my action much.

[passwordnow]

We really have to secure our profits for every bull run. Selling means that we know what we're doing and learning from the past mistakes is also helpful to us. Just like OP, we need to take care of our profits because if not, we're going to regret it later and even going to feel bad for so long until we finally move on. It's normal to take profits and we can always buy back whenever the price for these coins we're wanting hits the floor. Selling at the possible top is unlikely to happen for most of us but if we see that we get tremendous profits already, why not sell? I know that everyone is going to hold forever but if you want to secure yourself at least, you need to at least get some profits and wait until the dip to buy back.

[Accardo]

Solana may further dump in price, due to a decrease in its TVL, and lesser onchain activities in the Solana ecosystem. However, holders mostly sell at an opportunity like Op missed. Also it's the right thing to do, because everyone else, at great numbers, will go for the profits, thereby lowering the price of the coin. A good reason why some won't sell immediate is that they expect to accumulate more profits.

[len01]

In this case I say like gambling that always exists about greed and regret. A trader will wait for a higher price and ignore that the SOL price has gone up 100%. They ignore the percentage because greed gives us hope to be 200% or even 300%. But when the price starts to dump 50% we will hold it because we think when the price reaches 100% do not sell it and prefer to hold it to wait for it to return to 100%. It's like a never-ending circle.

The most important thing here is to have a realistic mindset, such as appreciating whatever benefits we have gained and taking the opportunity when it is in front of us.

[GigaBit]

I will express the same sentiment with you. If a profit limit is not set, then the investor will not be able to achieve his desire goal. In a bull market, if no one can profit at that time when the price of any coin is bullish, then it will be difficult to make profit in a bearish market.

There are some investors who do not set their profit limit. Despite making a profit, they keep investing in the hope of making more profit, but later when the market becomes bearish, the amount of their invested assets decreases to a large extent.


Bull and bear market

The investor must take the right decision at the right time. Generally, since cryptocurrencies are highly volatile, there can be a big change in terms of money in a small margin. That is why the right decision must be taken at the right time. If the investor is able to see the amount of his assets at that level after setting a profit limit, then he should withdraw his money quickly at that time. So that he does not have to face big losses during a long bearish period.

I myself used to expect to get a little more from many such investments in the past, but instead it became the cause of my loss. Since then, I used to sell my investments only when I made a profit. As soon as I made a profit from investing in altcoins, it should be settled.

[WeedGoW]

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?

Yes, we must set the goal. When we set the goal, we will sell if we meet that goal. Then we can guarantee profit. And if we can sell at top prices then again if the price falls again, we can buy again and sell again later that’s the goal of investing. But we need to ensure that our strategies and risk management are correct and of course whenever we meet the goal and sell it whenever we are in profits. We need to be very careful about so that we are not damaged and keep in monitoring all the time.

[EarnOnVictor]

Solana may further dump in price, due to a decrease in its TVL, and lesser onchain activities in the Solana ecosystem. However, holders mostly sell at an opportunity like Op missed. Also it's the right thing to do, because everyone else, at great numbers, will go for the profits, thereby lowering the price of the coin. A good reason why some won't sell immediate is that they expect to accumulate more profits.

Not only Solana but all altcoins, they've entered their doom season, and none of them will be able to hit their ATH again. And not the main ATH but the ones treated between 2023 and now. Though things have started improving in the crypto market, I have seen more hurdles than a clear path and even Bitcoin will face a challenge of its own, but it will give the bears the needed fight before it eventually yields to the long-term selling before the end of the year.

[stum74]

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?

"The big money is not in the buying and selling, but in the waiting."
Charlie Munger

[Pandorak]

Basically no one really knows about the future, every moment when the market is green people will be happy and say there will be higher prices than today, but without having clear data and analysis, how can it happen, all just speculate, FOMO, when someone else expresses a desire to sell, they will say it's a foolishness. I see this phenomenon almost every day during the green market, honestly do not want to argue with them, but i have several times expressed analysis and opinions here and locally, especially when Bitcoin is above the price of $100k, not many respond, maybe they think it's just a nonsense until it happens, Bitcoin really falls to $85k or even $78k, by the time they realize it, it's too late, they have to wait for prices to return to where they bought to recover losses .