Don't just HODL blindly because people on the Internet told you to do so. Set yourself a target price & take profit when you reach it!

I'm sure this will get downvoted but if you have entered crypto with the hopes of making some profit ignore the cult like mentality of holding indefinitely and set yourself a price target at which you would be happy to take some profit.Holding long term has always been a solid tactic but to hold with no exit plan or target is just barmy.Whether it be a specific price target or a multiplication of your holdings think about which point you would be happy to take profit and stick to it.For me personally whenever an investment makes 3x I cash out two thirds doubling my initial investment and then hold the last third in the hope that it does it again.

Submitted March 14, 2021 at 08:27AM