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As crypto prices surge by 2-3x, it's easy to get swept up in the excitement and hold out for even bigger gains. However, markets are inherently volatile, and those unrealized profits can quickly vanish when a correction happens. Timing and strategy are key to avoiding unnecessary losses.
A smarter approach is to lock in some gains along the way. Consider taking profits on half of your position when your gains exceed expectations, and allow the remaining portion to ride for further potential upside. This strategy helps you strike a balance between risk and reward while managing exposure in a more calculated manner.
Without cash reserves for the next market dip, you're left vulnerable in times of uncertainty. Remember, crypto trading is not about chasing every price peak but rather protecting and growing your wealth. A solid exit strategy can help you make more informed decisions and ensure long-term suc
cess.