Eight Years of Blood, Sweat, and Tears in the Crypto World: Knowing When to Buy Makes You a Disciple, Knowing When to Sell Makes You a Master

In eight years in the crypto world, what left the deepest impression on me wasn't how much I made, but watching a thirtyfold unrealized profit vanish in 2018.
At that time, I was heavily invested in a shanzhai coin, with a cost basis of less than five cents. It rose all the way to over a dollar, and the account balance ballooned to the point of dizziness, I even thought about how to spend the down payment on a house. But I never sold even once.
When the correction started, I told myself it was just a shakeout; if it dropped further, I still thought the trend was okay. Until the price plummeted back to two cents, and the unrealized gains were almost gone, I finally woke up.

That lesson was too costly: Knowing when to buy isn’t a skill, knowing when to sell is the watershed.
Later, I developed a simple method for taking profits and cutting losses, especially suitable for people who don’t have time to watch the market:
About taking profits: sell in batches, don’t be greedy.
Cost basis is one dollar, when it rises to two dollars, sell 30% first, recover the principal, and calm your mind.
If it can still rise to three dollars, sell another 30%. For the remaining position, don’t guess the top; set a trailing stop—if it retraces 15% to 20% from the highest point, automatically sell everything.
This way, you can follow the main upward wave and avoid spitting out the meat you’ve already eaten.

About cutting losses: think about how much you can afford to lose first.
In a single trade, lose no more than 5% of your total funds.
The first thing to do after buying is to set a stop-loss order, usually 8% to 10% below the cost basis.
Don’t be distressed about being stopped out; the market will always be there, but if your principal is gone, you lose the qualification to get back to the table.
In these eight years, I’ve seen too many stories.

The ones who can truly walk away with their money are never the most aggressive, but the most disciplined.
There are always opportunities in the market; what’s missing is the calmness to decisively press the confirm button at the right time to sell. $ETH