The market is not about just holding and gain profits. Many time we have to become day trader to gain profits.

Hi Traders,
Welcome to the crypto golden rules guide - Minnow Special. This is the part - 6 ( Rule - 6 ) of the series. You can read my previous posts on this series below.

"Invest What You Can Afford To Lose"

"Do Not Invest Blindly, Do Your Own Research"

"Buy The Rumor, Sell The News Always"

"Never Put All Your Eggs In One Basket. Diversify"

"Have Some Oil Available For The Coming Of The Dip"

Have An Exit Plan

This is also a must needed rule, why we are in crypto market ? Of course for profits. Many times market pumps and dumps. We have to watch out for pumps because this is what we are looking for, but pumps don't stay for long time. We have to be at the right time, where we can exit with good profits.

Here is why this term is valuable. "Don't Be Greedy, Take Some Profit And Leave". XVG ( Verge ) is a great example and we can say that it is the best exit time for their holders If someone don't exit here or wait for some more profits ( Hodl ) then they will probably lose their fund or good profits. XVG is at a good profit because of a great news coming in some days and after that price of XVG can go down, that's why this could be the best exit time.

How, And What Is The Better Way Of Exit

Let's take an example - You have invested $1000 in a crypto and now it is 50% up ( $1500 Value ). What you should do is, Take $500 out of the market as profit and leave $1000 and again wait for gain and do the same. In this way you will be always in safe side and you will be in profit, even market crash.

Sometime full exit from the market is also a good choice. If we look at the market crash then those traders who had withdraw all their money in december last are happy with their decision. But this not happens every time, may be market pump just after exiting the market that's why "Take Your Profits And Leave" is a great strategy.

When i entered the market this was, my most common mistake i did, by not to take some profits and that's why i am currently at in 60% - 70% loss. If I had taken some profits that time then i could not be in such losses.

I hope that help all of you to gather more information about the crypto market. My motive is to help minnows. You can help me by resteeming this post, so i can reach at more minnows.

Stay Tuned For The Next Part

Please do not take it as a financial advise. THIS IS NOT A BUY REQUEST. It is just my analysis,opinion and result of readings. So before investing in any Crypto currency, do your own research first. I will not be responsible for any losses

Thanks for reading...

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