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Two Important Ingredients

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@erikah
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If you ask anyone what's the best day, they most likely will say Friday because after the office hours end, it's already the weekend, but in crypto the best day is profit day, I mean actual profit day, not just on paper.

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Profit Day

Yes, there are days that are called profit days and for me today was profit day.

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ADA had a nice evolution lately, started to pump and today was time to take some profits. ADA is everywhere these days, everyone is talking about Cardano, so we're going to see higher highs very soon. However, that doesn't mean I have to wait. I'm taking a profit, free up liquidity and wait for the next leg.

Stop Loss

Yes, the ugly word stop loss that can save your life, literally, if you have the habit of using it. It's a matter of perception obviously, nothing is compulsory, but if you want to protect your investment, stop loss is a must.

Now that some of the alts are pumping, moving stop losses up is a must if you don't want to lose your profit, so I had to review my portfolio and make the adjustments.

The Two Most Important Ingredients

I got into crypto with the intention to learn and have been doing it for the past three and a half years constantly and I strongly believe learning will never end. For me safety means more than anything so knowing how to protect myself is a must.

When I started my journey on Steem Hive I decided not to invest fiat and learn how to manage my finances in order to make the most of it. It has been a nice and challenging game and I'd like to think I've done a good job, at least I'm satisfied with where I am now.

Then I got into trading, which was my goal for some time now, but had to accumulate some knowledge in order to do that as we all know trading is a mine field that can blow up pretty easily. We're lucky to have so many cases to learn from and I've preferred to wait and learn, instead of going all in blindly. My goal is to earn money, not to lose money, so I have one chance only and have to do it right.

I'm playing with my capital earned the hard way and have no intention to lose it. Stop loss can cost you 10% but can save the rest of 90%. Each loss is a lesson and if you learn it, you can avoid the next one. It's tough but necessary in this business.

Taking profits can also save you from holding a big pile of nothing after watching the token dip.

Tomorrow is a new day with new possibilities. With the alts pumping, it could be profit day again, and the same goes for the next day. Profit after profit after profit. Is it that simple? I wish :) Nothing is simple in life but that makes it more interesting.

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