Thread by @AsianCryptoBoy

Short Thread on Profit Taking during a Bullrun and why it is important 💫

I sincerely hope you read this if you’re following - like and RT as you wish

Writing this from my perspective, NFA, DYOR. Let’s get to it 🚀

(1/18)

#VeChain $VET #VeFam

I entered into crypto when BTC was at $3,000 circa mid 2017.

After 2 whole years of working, I had only saved up RM10,000 (~$2500USD). I put in all I had and remember having 0.66 BTC to start off

(2/18)

I traded my way up on Binance and was the top 20 trader (by volume) at that point. I remember receiving airdropped $BNB as a gift back then - it was roughly a few thousand dollars.

Made the call to leave my job because I was earning my 2 years worth of savings in days

(3/18)

The thought of leaving a very secured job was scary, ngl. People around me were discouraging as they assumed crypto trading to be ‘gambling’. I felt very alone at that point in time. You make money, but you are ALONE.

(4/18)

FYI, I only did Spot trading, margin trading only came on towards end 2017.

You don’t need leverage to make money - stick to spot and you’ll also earn a good amount.

(5/18)

By the time #ALTSEASON hit in Q4 2017, literally every coin in the face of earth (it was the ICO mania then), pumped by 5-10% whilst I was asleep. This was IT.

You feel hyped, you feel pumped, you feel Euphoric.

(6/18)

This went on for a month as far as I recall. Imagine waking up to extra 5-10% gains overnight consistently. All sight and rationale on ‘value’ of money is gone. You will not be able to think straight and everything will seem cheap irl

(7/18)

Now picture this. You had $2500 in August, and this is more than 50x up in months. You feel ‘rich’ right? You think you own the world, literally.

(8/18)

I am a cautious person by nature - I remember selling a heck tonne of BTC at $5k, and $10k mostly. And felt FOMO when it broke $10k and off to the races. The thought that came to my mind was ‘I shouldn’t have sold!’

(9/18)

Felt terrible for 1 week watching BTC going ONLY UP to $20k in Dec 2017! As usual - I was busy cashing out profits along the way up and sold some even at $19k+!

Guess what happened next?

(10/18)

BTC tumbled down so hard and the fall was massive! Was a bloodbath. People started panicking all at once when we hit that resistance level. Dreams of BTC going for 50k or 100k shattered.

I was actually laughing happily

(11/18)

The rest is history. History don’t lie, you know what happened since then. Cashing out on the way up now doesn’t seem so dumb after all of a strategy.

Truth is, it is ok to feel FOMO but NEVER throw your profits back to chase green candles.

(12/18)

Promise me that profits taken out of the market will remain out! (Like this to give me assurance please).

Greed gets to people - I personally know that 8 out of 10 people I know did this mistake and guess what? They ended up buying the top at $20k

(13/18)

Profits makes us blind. We assume that market is ONLY UP. You are wrong if you think so.

Remember that money not taken out of the market is not yours. Set a sell strategy, stick to the plan, never deviate!

(14/18)

I assure you that as BTC approaches 100K, we are going to see next target as 200K, 300K and even 500K soon. Don’t be fooled.

Take the market as it is, in present time. If it hits a major psychological resistance (round number figures), take profits.

(15/18)

Taking profits is a lonely journey. You will assume that all your big CT influencers are still hodling their bags all the way up - you are wrong. This is a Zero Sum game. Winners = Losers. Someone has to lose if you win.

Take profits when you can.

(16/18)

Important that you fully read this - stick it to your brain. Remind yourself that ACB said this.

I will be cashing out 100% during this run, and buyback in cheaper during the bear. Sticking to my strategy from 2017 it will be right again.

(17/18)

I will be your friend - updating on certain key levels we should be aware of along the way.

Will not mislead you to be buying at the top. Not gonna happen.

Turn on notifications if you think this suits you. Thanks for reading! RT 🚀

With love,
ACB

(18/18)