When should you sell your crypto?
Let me show you a stressfree way, capping most of the possible gains, by illustrating an example.
Here is a picture of Fingerprint and MA200.
Fingerprint is a stock that soared about 200 times its baseprice.
Had you been lucky and bought Fingerprint early on, and then decided that IF a 200- day simple moving average was broken, you would sell all your holdings, then you would had been positioned the whole trip up, but got off when it started rolling down again.
You would even had two opportunities to sell( which is not uncommon).
You would also have received a decent price on your exit.
What I would like to say with this is that I right now see many who jump off crypto and sell all their holdings.
They claim it "has gone up to much".
"It must correct", or they just claim they are satified with their gains and therefore sells.
Im sad to say but often with this methodology you actually only limit yourself earning more and maybee even becoming rich ...
Find an exit-strategy that is NOT emotionally based.
Sell your cryptocurrency WHEN and IF the MA200 is broken is a very simple trailing stop methology to implement.
In most cryptocurrencies, MA200 average is well below its current price right now.
Just let it ride as long as it can, and then step out on the back end.
Do not sell on the front end ...because you do not know how high it actually can go.
Dont try to beat and outsmart the market.
The market has no feelings and are often smarter than you.
MA200 in the affected crypto-currency may be broken first after 10 years .... and what will then the price be!?
This is a very stressfree approach and you just can relax and watch price knowing your risk is never bigger than current price of MA200 is showing
Just my five cents.....
HODL and exit on the backend going down.
Thanks for the great information. Now following you.
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