HODLers Cannot Take Profits. Traders Can Take Profits


In this forum, most people espouse that one should take profits. This advice is especially keen during the bear market as many people lament over not taking profits during the bull market. However, I think this advice is misguided because people state that you should (a) HODL and DCA and (b) take profits near the peak of the bull market. In other words, people are asking you to HODL for 3-4 years and then at a crucial juncture, take profit when you never ever have taken profit in your life.

People are creatures of habits. As such, there is resistance to trying something new. Whether doing drugs, starting meditation practices, or taking profits. You need to keep on doing it in order to get accustomed to doing it and the barrier becomes lower.

That is why HODLers cannot take profits. The advice on this forum is “don’t sell no matter what, but when you are up, take profits”. Easier said than done.

It is easier to take profits if you take profits frequently. A.k.a. Trading. Being a trader means that I take profits quite often. I have been taking profits all the way during the bear market. And because I take profits often, it is easier for someone like me to take profits (a huge one) during the bull market because I am merely doing something that I have been doing on a frequent basis. For HODLers, they have never ever taken profit in their lives and people are advicing them to take profits during a middle of the altseason when collective greed is oozing out and prices are jumping up +20% every day. That is asking too much of a person.

HODLers cannot take profits. Traders can take profits. Practice in taking profits often because if you don’t, you won’t be able to during the peak bull market.

submitted by /u/simmol
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