The title pretty much says it all. Whether you’re throwing your money at the latest meme coin or you’ve spent a lot of time DYOR on some promising project, it’s a good time to remind people that 90+% of these projects simply will not make it.
Maybe they die completely, or maybe they just linger at the fringe like some projects have, just crabbing sideways (or downward) for years.
So a good idea is to, whenever your favorite crypto doubles, take out your initial investment. Yes, it could keep going up and you’d miss out on those gains, but it could also go down and you’d lose everything.
Once you’ve taken back your initial investment though, you are playing with free money. You’d be surprised just how relaxing it is to check the charts on a “free money” crypto and not really care if the latest candle is red or green.
A good strategy is to continue doing the same thing every time that coin doubles. Take out half, leave the other half invested. Rinse and repeat. It’s a super easy way to always know when you should be taking profits along the way, and also a way to always have dry powder to buy into any available price dips.