Booking Profit is important in crypto business
Hello lovely people of Hive and Leofinance community. Hopefully you will be enjoying your life with good health and spirit. Friends, one of the best way of dealing in crypto market is booking your profit. We often dismiss the bullish profit in search of earning more profit.
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Booking profit is one of the important step to build your portfolio. Crypto market is one of the most volatile market where pump and dump is part and parcel of the market. In such situation it is important to book profit. Getting profit is useless unless you extract the profit. It is just like a bird in hand is better than two in a bushes.
Booking profit give you sense of achievement beside building your portfolio. Sense of achievements may help to build your confidence.
One of the major resistance in booking profit is the greed factor. Greediness force you to earn more profit on your investment as a result you miss the train and end your campaign with big dip. There is no limit of greed. Remember getting little profit is far better than booking loss. Just imagine investors who didn't sell BTC at $68,000 worth are currently facing 66% loss on their profit. Just like booking profit it is important to book loss to save yourself from big loss. One of the easiest way of booking loss is to apply stop limit on trading. It may help you from big loss. Beside booking profit and loss it is important to enhance your knowledge about crypto. We are lucky to have Leofinance community which provides an opportunity to learn crypto and financial related skills. Time to grab this opportunity and improve our skill. It may help us in longer run. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
I don't like the idea of using same picture for all articles it's just a suggestion please don't mind, use different pictures for all articles and posts
Booking profits is a good strategy without which the profits are only on paper.
This way when the opportunity comes and one does not book profits then there would be no liquid funds to reinvest and grow.
Thus booking profits is very important.
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Enlightening post no doubt. Buying a cryptocurrency at a lower price and then selling it at a higher price, or engaging in short-term trading strategies to make a profit is an example of booking profits mechanisms.
Also , accepting payment for goods or services in the form of a cryptocurrency and then selling that cryptocurrency for a profit is what booking profit in crypto entail as well .
However, it is important to note that the cryptocurrency market is highly volatile and can be risky, so it is important to do one’s personal research and invest wisely.
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fantastic