Taking profits can be one of the challenging decisions to make

Making money from your investments can be tough. And sometimes, especially in a bullmarket, it’s hard to see when to cash your gains and take profit.

Although we are not in a bullmarket right now, you’ve probably heard phrases like HOLD or BUY THE DIP!!1!1′ or DCA MORE!!1!!. I think they’re good rules to follow, especially if you plan to hold your investments for the long term and don’t expect to get rich quickly.

But here’s the thing..

It’s also a good idea to cash in your gains sometimes: sell when things are going well, and secure profits. The bottom line is, you can’t lose money by taking some profit.

Taking profits is hard because greed can be a real problem. Selling when things are at their best or new ATH might not feel right. Of course when crypto is booming, all over the news, and companies are jumping on the crypto train (like last bullmarket), you might think prices will keep going up forever.

Have a plan to cash out. Have an exit strategy. Take some profits every now and then. If you DCA in, you can DCA out for example.

I’m pretty sure I’m not the only one who struggles with this, so I thought sharing this perspective/reminder might be a good thing to do.