PSA: The whales will try to grab your gains so remember that Stop Loss and Limit Orders are your friends!

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PSA: The whales will try to grab your gains so remember that Stop Loss and Limit Orders are your friends!

Some of you are new, a lot of us are not.

And those who aren't experienced it, the euphoria, the denial, the despair, all if it. Many even multiple times.

On past cycles people missed out on their gains simply because they refused to take any profits, or even worse others became victims of the inevitable shakeouts that are bound to happen sooner or later or had to sell during the bear due to unexpected IRL situations.

In the best case you HODL'd through the bear, potentially growing your bag by DCA'ing in and staking but even then there are alot of people whose alts might never reach their previous ATH's or their cost basis.

And yes you might think to yourself "This won't happen to me" and you can try to time the market but 99% of us will miss the boat because when it inevitably goes to shit, it happens so unexpectedly that you will be hesitant, you will be questioning yourself and the question of "is this just a shakeout attempt or is it real?" will bite itself so deep into your head that by the time it's over your gains are gone.

Remember wyckoff is as inevitable in crypto as it is in stock trading, and while neither i nor most others can tell when, the whales will dump on us trying to scoop up our unrealized gains.

So for plebs like us taking incremental profits on the way up with sell limit orders while preventing major losses with stop loss orders is a good way to not miss out.

And whether you reinvest the gains of your partial portfolio sales back into crypto, relocate them into ETF's, stocks or buy yourself the lambo you always wanted is up to you.

And as always don't get scammed and listen to nobody… that includes me.

submitted by /u/Hookahista
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