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PT.2(SHORT)
CONCLUSION:
A lot of coins pump & dump quickly when during their infancy stage so, you MUST take profits along the ride. Believe me! I missed out plenty of times by telling myself just to hold long-term BUT the truth of the matter is, when your watching your assets on the daily such as i do, you would be a fool N0T to take profits. You'll be completely missing the point!
Although I got into Crypto in '2014', this is my first true actual year of understanding how to invest.
I learned a lot so far throughout this year and am still learning.
We have to be disciplined, we have to believe in the assets we choose, we have to know when to take profits, and we have to know how much to take off the table(shares) with the amount we invested B4 it heads back down to your initial entry and 0r against you!
F0r example: When I first got into 'D0PeC0in' I put in $10 then it started to rise a couple days later but not too much & so I decided to add another $10 just in case it decided to take off. Well, it took off and my $20 was not sitting around $70 and so, based off the amount I invested, I knew this was a great place to take profit instead of waiting to see if it would reach higher levels. I took $50 0ff the table and still had my initial investment.
You won't have as many shares but this is where you start to reinvest back into the asset(s) when prices start to dip. And besides, you still end up with shares to profit again when they reach higher levels(if did not reinvest)
If your in position to use the profits to place back into the asset(s), then more power to you as you will be in a great position when it reaches higher levels .
It's about timing, your position@those moments is all! and knowing how much to take. Some are in a position where they have money in they pockets so, they can afford to let it ride up/down for years without having to do the hard work of checking the account on a daily and what not. What I speak of here, is long-term holding. Day-trading is another story. I like to treat Crypto as long-term just taking profits along the way, it's much easier ;)
Day-trading I save for the Forex Beast(market).
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