What should be your exit strategy...

[slumpx]

So as the new market cycle is near, and we all want our coins to moon. People talk about DCA strategy, bottom buying aka bottom fishing. Mr X want's to talk about exit strategy. Mr X has been in the crypto market for a fair amount of time. So around 2017, Mr. X had bought 100k Dogecoin at a quit cheap price. He spent around 150$. Didn't think much at that time, Doge was a fork of Litecoin and one of the earliest coin which was with BTC. The thought at that time was pretty simple. Mr X missed BTC , so why not try to catch the next BTC. So Doge slept for few years and suddenly one day Doge woke up. Mr X also woke up and couldn't believe his eyes seeing a 100% increase within 24hrs. Mr X did not had any exit strategy. He did not sell it then, thinking it will go higher. He was not wrong , after a pause doge went higher. Mr X did not sell thinking he waited again for it to go higher https://19216801.onl/ https://routerlogin.uno/ . He was getting a good money. Even if he would have sold 70-80% of his holding, he would have made 30,000$ easily. He thought to wait for more gains. He became greedy. Then Doge finished it's run and profit taking started, but Mr X was still waiting. Doge lost its zero. Came back hard, Mr X panicked and slowly started selling, thinking probably he will not make any profit. He sold all of his Doge. Did he make profit ? Yes, but not what he could have made if he would had a good exit strategy. At one time he would have made 40k$ but now he made only 2000-3000k . So guys don't be Mr X, have a good exit strategy. If you are making a good amount of money, sell 50-70% of your holding, don't worry, market will bleed, you will get the opportunity to buy it again at a discounted price. Mr X told me to pass this advice.
Edited by han14, 28 June 2023 - 04:58 PM.