You might be wondering why you are not making money from crypto market. Yes! true, that's because you always think that the market is your friend and that the trend will ride forever, that's why you end up losing all your gains while watching your profits wiped off by dropping prices. 

I understand the feelings. I Have been there before, so I get what's going on in your brains when you see few green on your portfolio. It usually feels like it's never gonna end. 

The thing is;  like I usually say, stop feeling you are the only one in this space. Others are acting entirely opposite to what you are doing, and the market is no man's friend.

You either take profits when you see them or lose them to someone else who really needs them than you do. 

The Fastest Way To Ruin Your Portfolio Is To Sale At A Lost.

So I find it interesting to discuss with you a bit about a friend who got into crypto trading with about $2800 portfolio size. He  bought different assets, including Bitcoin and Ethereum. Fortunately to him he got in during the bear market, when everything was down. 

After a while, crypto market started gaining bullish momentum and prices went on a ride with higher highs and higher Lows. 

His portfolio started going green with increment in size. The market  kept appreciating as his $2800 turns $5,000 but he failed to take profits, thinking that's the way it is.

Now, days later the market stop appreciating and began consolidating with a quick drop in btc price, causing alts to drop almost %55, shortly after, the market regains but most alts failed to regain their previous highs, which indicated a serious weakness in the market  and a clear sign that supply or distribution was going on underground.

But he ignored all the signs and kept hodling. After few weeks bitcoin crashed, price dropped, sending alt losing almost 70% . By now all the gains he had were wiped by the sudden drop in price and he even had a 20% losses in his previous capital.

That was when his eyes were open to the reality of the game. He became restless and fearful, then started selling at a lost as prices were dropping drastically. 

What did he ended up doing? He ended up ruining his portfolio because of greed by thinking that the ride will continue and that the gains in portfolio will continue without taking actions by collecting his gains. 

What Is Sweeter Than Eating Profits Made From Your Crypto Investment?

It's like a farmer harvesting her farm produce. Profits are the major reasons why we are in this game. You fail to seize the opportunity at a particular cycle, you are out of gains.

 It's important to take that profits out and get some good treats with it for yourself. That will encourage and remind you of your work and market diligence. Keep in mind that traders who doesn't take profits, easily go broke!

See you in my next article.