It's easier said than done to take profits when they're there.
I met a friend who turned an initial capital of 100,000 USD into 500,000, but was still not satisfied and insisted on reaching 1,000,000. What happened next? A wave of correction nearly wiped out the initial capital. I've heard too many of these stories, but when it comes to oneself, reason disappears.
I have also experienced a loss. During the bull market in 2021, my assets tripled in two months, and every day I woke up to green candlesticks. What was I thinking at that time? "With this market trend, if I hold on a bit longer, I can definitely make more profit." As a result, the market turned, and I lost half of my profits.
It was only after that time that I understood a principle – profit can be addictive. Earning the first 10,000 dollars can make you happy for a week, but making 50,000 might only make you happy for a day. Desire is something that never ends.
Now I have set a rule for myself: decide on a target number before entering the market, and leave once it is reached, never dragging my feet. This "target" varies from person to person; some aim for doubling their investment, while others aim for a 30% profit. The key is to set it in advance.
Playing with cryptocurrencies is ultimately about improving life, not about who has the largest account balance. The truly skilled traders are not the ones who earn the most, but the ones who know when to stop.
What is your target profit? It's advisable to write it down somewhere. When you reach that number, don't hesitate, withdraw and leave. Market opportunities are available every day, but the principal is only one.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
21 Likes
Reward
21
6
Repost
Share
Comment
0/400
CryptoPhoenix
· 12-01 09:01
That's why I fell so hard in 2021... Greed really is the original sin.
View OriginalReply0
StakeHouseDirector
· 11-29 21:46
Greed is truly a common problem among encryption enthusiasts; I've seen too many people get liquidated because they were too greedy during that wave.
View OriginalReply0
LiquidatedNotStirred
· 11-29 21:42
Sounds easy, but I'm the kind of fool who originally set 50% and ended up watching it rise 200% with my eyes wide open.
View OriginalReply0
DataPickledFish
· 11-29 21:36
You are absolutely right, greed is a terminal illness. I was the same that year, not satisfied with 500,000 and wanting to push for 2 million, but ended up losing it all in a big dump. Now I've learned my lesson, knowing when to take profits is truly an art of living.
View OriginalReply0
TradingNightmare
· 11-29 21:29
You're absolutely right. How is that fren doing now? Has it lost everything? Greed is truly a poison.
View OriginalReply0
LiquidationSurvivor
· 11-29 21:29
Greed can really be fatal; I've seen too many people who were originally making good profits but insisted on going all in, only to end up back at square one overnight.
It's easier said than done to take profits when they're there.
I met a friend who turned an initial capital of 100,000 USD into 500,000, but was still not satisfied and insisted on reaching 1,000,000. What happened next? A wave of correction nearly wiped out the initial capital. I've heard too many of these stories, but when it comes to oneself, reason disappears.
I have also experienced a loss. During the bull market in 2021, my assets tripled in two months, and every day I woke up to green candlesticks. What was I thinking at that time? "With this market trend, if I hold on a bit longer, I can definitely make more profit." As a result, the market turned, and I lost half of my profits.
It was only after that time that I understood a principle – profit can be addictive. Earning the first 10,000 dollars can make you happy for a week, but making 50,000 might only make you happy for a day. Desire is something that never ends.
Now I have set a rule for myself: decide on a target number before entering the market, and leave once it is reached, never dragging my feet. This "target" varies from person to person; some aim for doubling their investment, while others aim for a 30% profit. The key is to set it in advance.
Playing with cryptocurrencies is ultimately about improving life, not about who has the largest account balance. The truly skilled traders are not the ones who earn the most, but the ones who know when to stop.
What is your target profit? It's advisable to write it down somewhere. When you reach that number, don't hesitate, withdraw and leave. Market opportunities are available every day, but the principal is only one.