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Take profits by anomadsoul

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hive-167922 · @anomadsoul ·
$35.03
Take profits
Not right now of course, you never take profits by panic selling the local bottoms.


Not saying this is a local bottom though, we might still run a tad down or recover, I can 100% assure you that either of those two scenarios will happen/s.


But you see, the topic of this post is actually pretty important to you because well, odds are you are taking profits the wrong way, and a big chunk of you does not even know that you *have* to take profits. The Hive mindset is to power up your tokens and have a long term mindset. This is not a wrong approach, it is the safest and probably one of the smartest mindsets, but it's definitely far from the most profitable one.


Crypto moves in cycles, and after being in the space for almost 8 years I've come to the realization that yeah, holding Hive Power - or any staked tokens for that matter - with a nice APR is a great way to hedge against fiat currencies and inflation, but it's not an ideal scenario to generate wealth; it's a perfect way to preserve wealth, but what if you are looking to create it for yourself so that at one point you can focus on preserving that wealth?


#### Taking profits


At some point this cycle many of you will be looking to secure some profits, if you are not looking to do so, you are going to leave money on the table. Securing profits essentially provides you with a fresh batch of stables on the side to do whatever you want to do with them. In my case, taking profits and setting stables aside is the optimal strategy to buy dips - just like the one we are going through right now where most alts are down double digits. 


Think about it, historically the dips in the bull market come slashing at 20-40% swings. Of course you are never going to time them right and you must not aim to take profits at the absolute top and buy back in at the absolute bottom, this is not feasible and odds are you will take profits and the market will continue to go up, and the dips might come to a price point above that where you took profits, or you might buy the dip and the market keeps dumping... and at one point, a point that nobody knows when it will come, the dip will not be a dip but the beginning of the bear market and you simply bought a falling knife.


Anything can happen, but we are far from that point in time where the beginning of the bear market will be obvious in hindsight.


In the meantime, we are in a bull market and opportunities can be found as far as the eye can see.


Just please, don't roundtrip your bags. 


Know when to buy dips, and when to stop apeing into new projects, tokens and shitcoins or you will end up like this little fella


https://files.peakd.com/file/peakd-hive/leo.tasks/Eonj2mWsnL5vs74H22wAz8j8ZtbDBs7rrMRny1y5xudRTmBA3Bjxvv6SXaEU8WWutfU.png

Posted Using [InLeo Alpha](https://inleo.io/@anomadsoul/take-profits)
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vote details (466)
@asif7 · 
Every crypto explorer should look to get profit out of the chances tbat they can grab. But sometimes it never gets easy to cut out a good amount when market is not one's favour or in optimum state. 

There are complexities, but still chances are there to grab calculated profits. Even it seems like that when one hopes to get a good amount, but still the chances get tougher because of volatility thats turning to be a big profit- barrier.
👍  
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vote details (1)
@fieryfootprints ·
$0.03
I joined Hive in 2017 december. And I still have not taken any profits. From what I remember I only powered down to buy cards and packs in splinterlands. Part of me is afraid of taking profits because it would be like losing part of my stake. And it took me years to gather that stake. I know that I could buy back later but I still don't want to waste that Hive. So I just keep gathering more. I guess I am a crypto hoarder...
👍  ,
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vote details (2)
@fokusnow · 
So much sense here. I woke up to the red market and I was instantly set back by 5 Solana in one project. Not much, but I hope to recover and be alert to taking profits when I should. I really dont want to be a statistic - like this little fella above.
👍  
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@idiosyncratic1 · 
Even when I take profit early, I care about systematizing this habit in my investments. Having a small bag of fiat money provides flexibility ✌️
👍  
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@indiaunited ·
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@joanstewart ·
$0.02
When time is right taking a little, or if in a tight situation requiring, one should think it through, then time it as best they can.

No one is promised anything with crypto or fiat, it's all a gamble.
👍  ,
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vote details (2)
@sanjeevm · 
> at one point, a point that nobody knows when it will come, the dip will not be a dip but the beginning of the bear market and you simply bought a falling knife.

That's is exactly the fear that holds us tight to decide.
👍  
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@shawnnft · 
thats gonna be me eating mcdonalds ; ;. nows not the time to sell
👍  
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@steevc ·
$0.06
I've used some of my earnings for things like trips to S-/Hivefest and it bought me a guitar. For the last few years I've mostly let it grow and achieved some of my goals. I'm fairly confident it will reach new heights. We just need to keep building the community and try to avoid losing too many people.
👍  ,
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