Making it public - makes one accountable
Pulling the trigger
That is where my weakness in crypto currently is. I know the theories about taking profits, and I am usually pretty sure when it is a good time to move a small percentage into stable coins. I was looking at my ETH and thinking $3900 is good. It has been sitting here for a few days, it will break in one direction or the other. The upward potential keeps me from trading. It cost me today. I was thinking $12 would be good to take profits on RUNE... it made it to $11.87... hindsight is 20/20.
I hold some HEX, and I noticed that it more than doubled since I purchased it. So, I took 10% off the top. I will take it and let it be the first of many successful peak sales.
If I am going to succeed in Crypto the way I intend to (which involves not getting completely rekt next bear, but rather have a stack of stables to buy 10x in the bear), I must get into the habit of taking small amounts off the table. We could be 4 months away from a 4 year high point in the market. If I fail to get into the habit of locking up gains, I will end up holding on for a long way down... AGAIN!
The key to navigating a volatile and unpredictable market is to lock in gains often. My goal, that I am stating publicly, is to improve locking up gains.
Say it loud
If you ever have anything that you want to accomplish, saying it out loud makes it more real. It brings you a step closer to it. It holds you accountable as you know that it is no longer your secret. It has been proclaimed.
It is not a lot of money. If I were taking profits 2 days ago, I would have $300 in stable coins that I would have gotten to buy in at a cheaper level. We are talking about a few hundredths of an ETH and 1 Rune... That is not the point. In 4 years, it could be $15,000 that we are talking about. Getting into the habit of taking profit is what separates the whales from the hodler's. If I master the art of locking up gains, the reality is that the gains will continue to get bigger. This is a skill that I will be consciously making an effort at improving. People always tell me to buy the dip... I'm all in over here. I can't buy the dip as I never sold the peak. Selling the peak allows on to buy the dip. If the peak goes higher... you got some profits locked up for a later dip... they will always come, that we can be sure of.