A person shares their experience of selling Solana at 180 and missing out on a further 100 move up, but still has no regret or emotion towards it. They still hold 50% of their bag and plan to take some out during dips as they believe we are in a bear market. They plan to start buying back in during uncertainty and doubt.
the plan and it’s worked for me in the past.
Don’t Try to Time the Market
One of the biggest mistakes that new investors make is trying to time the market. It’s easy to look at a chart and see where a stock or cryptocurrency has been before, and then try to predict where it’s going to go. But the truth is, nobody can predict the market with 100% accuracy.
An Example from Solana
In a recent YouTube video, a well-known investor shared his experience with Solana. He explained that he sold 50% of his position at 180, even though it eventually went up to 300. He missed out on another 100 move, but he was okay with it. Why? Because he didn’t have an emotional attachment to the missed gains.
Plan for Market Uncertainty
Instead of trying to time the market, this investor had a plan. He knew that he was in a bear market, so he decided to take some profits on the way down. But he didn’t sell everything – he held onto 50% of his position. And now, he’s waiting for even more uncertainty and doubt before he starts buying back in.
The Bottom Line
Trying to time the market is a recipe for stress and disappointment. Instead, focus on creating a plan that works for you. That might mean taking some profits on the way down, or holding onto your position even when it seems like everyone else is selling. Nobody can predict the market, but with a solid plan, you can weather any storm.