Good morning/evening

The crypto market can be challenging at times, if you have read any of my posts before you will realise that I am calm during the bear market and more nervous during the bull market.....Quite the opposite to most people. I will quite happily buy the dip and I have a daily DCA of Bitcoin and have some cheeky buy orders set up  in and around the 50K area, did I know if they would trigger? Of course not, but they were there just incase, so I have my bases covered there and I am happy to not look at the portfolio, so with that said, it would make perfect sense for me to reverse this process during a bull run and have a staggered DCA out, with maybe some sell orders set up. I have had written plans, a chart to follow and yet I did not automate exiting as I do entering!

I could say 'well why do you think that is'? I am pretty sure I know the answers though! Emotions and I did not trust my own judgement, I was looking for any of those top signals on the various sites, even the paid patreon I am in to validate my theory, my chart and my plan and none of them triggered.I was listening to the noise....... Now don't get me wrong, I did exit and was quite happy but if I had set up my exits as I do my entries, it could have been better.

You must have heard some of the outlandish price predictions for Bitcoin, I did and yes, that is when greed also raises its ugly head, If the bank said to me 'you can double your money' instead of just a couple of percent, then I would be interested and find out more, so if I set that as my worst case, anything after and above that is fantastic! The truth is nobody really knows, those people who predicted 250K or more and even those professional fund managers. When Bitcoin is sitting at $40,000, selling at $100,000 sounds fantastic. But when it actually reaches $100,000, suddenly everyone starts talking about $150,000. When it reaches that, the new target becomes $200,000. 

Then there is the dilemma of how much do you sell? All of it, half of it and what if it doubles again after I have sold, all valid but if you are happy with your profit level, then none of that matters and everybody has different circumstances, some may need it more than others, but that is what it is for, financial freedom to do whatever you want with it, the weak hands, lettuce hands or whatever you want to call it is utter rubbish. If you need or want to spend your realized profit, then do so otherwise what is the point? Some people may buy Bitcoin with the intention to never sell, again it is a personal choice but If your goal was always to pay off your mortgage and your portfolio reaches that value, does it make sense to ignore your original plan because someone on YouTube thinks Bitcoin is about to double again? We only know where the top was after it's already happened.

Let's go back to that paid patreon I mentioned, most of the people in it were waiting for the top indicator to trigger, this is something you actually pay extra for, although you do sometimes get an update on how it is looking so there were a lot of upset people in the patreon, who just did not exit, then they get angry and posted nasty comments on the dude that is giving them the 'not financial advice'. What we do in the crypto market is on us and our choices, or it should be. Why do I still pay to be in this patreon I hear you say? Well I am interested and like to see the opinions of someone with 20+ years in finance but that does not mean I follow blindly. I like to listen to the opinions of others, I follow someone who does not like Bitcoin, I listen to Igor and his thoughts on quantum, I take these opinions on board, but at the end of the day it is each person's individual choice and that is what crypto is about. Being your own bank comes with risk, but we can try and minimise that risk, but it will never completely go away.

Personally my plan was take some profit, hold some Bitcoin as a savings plan and have some in stables ready to re invest, You might even earn a small yield depending on where you keep them, although as we've learnt over the years, if something is promising ridiculous returns, it's probably worth asking a few uncomfortable questions first! I would normally be dabbling in DeFi around now, but due to the sheer number of exploits recently, I have held off for now.

Did you manage to have a plan and exit? How do you exit, in staggered layers or all in one? I know it is not time to consider exiting at the moment, but I would like to have an actual plan I stick to when the time comes, I would love to hear your thoughts, as always thank you for reading and feel free to comment.