Its been about 3 years now since i got involved in the cryptospace. I have been accumulating mainly BTC ETH and DOT. Had a great run with ADA, ZIL, RSR, FTM, MATIC and a lot more alts. But it was only a run and not a completed race…
I didnt take profits and when i did i just went to the next coin with thr gains thinking im the smartest of all. For example i bought ADA at 0.15 cents and sold around 1.5 $ and then rpoceedes to put the gains mainly in ETH and the rest in other alts. Now if i had been patient and held my gains controlled my FOMO urges i would have had an incredible ETH bag in my ledger and at these prices a whole lot bigger ADA bag.
Simply said i have realised one thing. Profit taking is king. Its not BTC and its not ETH or anything else, the reality is that cash is king still. Dont get me wrong im all for decentralization and intrigued by crypto, any gains converted to cash are only to be used to get more crypto.
Most important to this type of maximalism is having a plan and goals for yourself. I started with the goal of taking out 5x my initial investment and keeping it in various stablecoins (UST was included but i didnt reach that goal thankfully lol). I realised i aimed too high then made that a 2x and then the 2nd dip/bear market came and i made my plan so that i have my BTC ETH DOT bags untouched while also have my initial taken out into stables.
I have reached the 2x goals multiple times but greed got to me as i explained above, now im happy with my bags and almost halfway to my stablecoin goals. This all thanks to profit taking and carefully planning ahead as my assets increase.
In my opinion, a plan is the almighty god, cash is king BTC is the prince and ETH is the allied king or something, while most other alts are peasants aiming to steal a throne at no avail.
Think ahead plan smart stick to the f€¥$ing plan!
Profits is the way! Patience is the key!