Was just listening to a podcast with the Youtuber Jesse Eckel and he was talking about the coming bullmarket and what type of strategies one could have to actually lock in some profits and dont get greedy.
Got me thinking about that I need to prepare myself and have some strategies in place for when I need to sell and where do I move my profits?
The art of taking profits
I have been holding a bag of $RUNE:$5.38 the last couple of years and it is still a profitable trade for me. But when it hit its all ⇪ high×, I actually sold some and took some profits and was hoping that there would be another opportunity to sell again.
A tiered approach to profit-taking can also serve you well. Instead of selling your entire position at once, consider selling incrementally as the asset reaches key milestones. This way, you secure profits while keeping some exposure to the market’s continued upside. For instance, you might sell 25% of your holdings at your first target, another 25% at the Next, and so on. This strategy offers a blend of security and opportunity.
I hope to hit those targets again so I can offload some of the profits and maybe even invest it into other projects.
Where to put the profits?
Another question arises if you decide to sell and take some profits, where do you put your them? Is it the goal to cash them out into fiat? Or do you want to have them ready for when another great opportunity comes around? For me I have been thinking about trying to offload some into $HBD:$0.99 savings, because then I can get some APR for it and at the same time I have them almost liquid so I can jump into whatever the next opportunity is.
Some I want to put into $LEO:$0.04 because I wanna have a bigger exposure NOW when there is so much going on here on the platform, both building an local AI + onboarding entirely new communities to InLeo.
**Closing thoughts **
I maybe havent written down here where ALL my exits points are for the different projects I have invested into, but maybe I dont need to do it right NOW, but start to think about this as we see big tendencies that we have entered a bullmarket. I that we will see more movements after the new year, and until then I should have my plan in order!
So my advice for anyone here is to prepare yourself and have a plan to not get burned. Its better to think about this before and be ready for different outcomes.