Lots of “Should I buy now” posts, so here is a mini guide to “Should I sell my coins?” Which is JUST as important.

SHOULD I SELL THESE COINS:1: Would you confidently buy the coins you hold at that price?Example: in 2017 IOTA shot up to $11 CAD per token, I would have never bought them for that price even believing in the project. Did I sell? No. But I should have.2: Would the profits made from a recent pump be better utilized in an underperforming asset that has more room to move?Example: When OMG had its pump back around August I took some profits from the table to have some “dry powder” for value plays. After XLM dipped because people thought it was associated with XRP I added to my position because I believed it would rebound.3: Would pulling out from positions have a positive “real life value”?Example: Pay of your debt, buy a house, vacation, hookers and blow...4: Has the company/team changed and is the timeline of the project proceeding as planned? How is user sentiment?Example: If a coin you hold team does something like this “OMG!😭Can't believe I won ! Thank you Walton team ! ❤️ keep doing the great work. 💪🏻💪🏻💪🏻🚀🚀🚀” And are caught in a blatant lie... might be a good time to dump those coins on someone who doesn’t spend the time to actually follow the project.5: Have you made a exit strategy? If so follow it! Constantly moving the goalposts is a good way to get burnt.Example: I had GAmEsT0nK at an average of $18.17, I had limit sells set at 150, 250, and 420. As the price rose I kept setting the goalpost further and further so none of my limit sells got triggered. I rode the rocket up, and even having lived through the crypto nuclear winter I apparently didn’t learn my lesson to take profits off the table.Biggest lesson here is watch out for echo chambers and confirmation bias. The people spamming HODL back in Jan2018 are the same people that were shouting 💎🖐🤚last week. You can always buy back in. Selling doesn’t mean you won’t be back!I hope some members learn from the mistakes/wins others on in this community have endured. And the biggest PRO tip I’ll leave you with...When the euphoria kicks in again, in this or any project subreddit you are subbed to, ALWAYS SORT BY CONTROVESIAL! If you are not part of the group think, you will be downvoted to oblivion.

Submitted February 09, 2021 at 02:26PM