Did You Take Profit?

Yesterday we saw a massive pump; if we should say for some of the coins and most importantly for hive. There are people who only trade hive so get very excited when hive performs a pump. It moved from 0.31 to 0.46, at the time of the pump I was in a discord chat full of people on hive and I could see the excitement in the chat.

We talked a lot about the pump. I can quite remember how a few of us were comparing the difference in prices between the Huobi exchange and Binance exchange. When the pump started, houbi was the one leading in price but as time went on Binance overtook it.

In fact, at a point in time, the hive price on houbi was depreciating whiles the one on Binance kept on appreciating.

Someone suggested that I do arbitrage trading as the difference in price was notable. I decided not to try anything funny as I’ve learnt my lesson from all the mistakes I made thinking I was the wise one. lol.

Well, it so happens that a lot of us have target prices for hive, for people who depend on hive for their daily living and expenses would have wished hive never went below one dollar. Others who want to build their Hp would have wished that hive would dip for a while allowing them to accumulate more.

But as the saying goes, the market always gives you an opportunity if you are patient enough. At 0.24 a lot of people were scared to invest cause they thought it was gone below that and buying it would mean pain.

Well, the pump has made them regret it and how they wish it could get back to those levels again. It will definitely get back there cause I don’t think the bears have left us just yet. Hold your horses, you can get hive cheap again in a few months or even a week; who knows, it can happen tomorrow.

A pump doesn’t happen forever and so does a dip. Concentrate on your target points and always learn to avoid being greedy when you get to your targets.

A lot of people might have set their targets yesterday and then ended up not even selling or trading them because they didn’t wanna miss 0.5. Remember that before 0.45 you might have set your target at 0.4. Don’t be greedy, take profit when you have the chance to.

The market is such a way that no matter how wise or good of a trader you are, you will make losses sometimes. That’s the way life itself has been designed, the moment we get that the better. Crypto is here to stay but sometimes we need to accept the little defeats.

The little defeats are those that teach us a great lesson and make us wiser in the market. Imagine you are trading and haven’t encountered a loss before?

It makes you never think of losing until you lose and it feels like your world is coming to an end. But if you have been losing and know how normal it feels you understand the market more.

Am not saying go ahead and lose but when the opportunity comes to take profit do and never look back even if the price goes further up. It will give you another opportunity to trade again.