Crypto Investments - Importance of profit booking

Hello everyone,
How are you all? I hope everyone is fine and doing great in their life.

When you become part of crypto market and start investing in it you come across different phases where you make losses and profits and during these times you have to make sure about many things but one of the most important is booking profit on your investments so that there is no sign of regrets left within you.

I will take an example of one of the recent token where I invested and which I shared on steemit with all of you as well. It is Phala token so let us have a look at that token below.

So Phala was 0.187 cents when I shared it and for example I bought 1000 PHA at that day. It would have costed me 187 dollars and now let us have a look at the chart below to see how the price has been for this token for last 24 hours as it has pumped quite well.

Now the token reached as high as 0.6 dollars so that means the investment of 187 dollars would have been converted into 600 dollars if you have not sold them till that price.

But the reality is that if you failed to sell until the price was pumping till 0.6 dollars you would have not sold the token at 0.6 dollars as well. So here is what the profit booking really is:-

• You sell your investment in portions for example I sold at 0.36 dollars that is 2X from my investment price and then at 0.5-0.6 dollars as well, I sold some and the final one that I sold was at 0.58 dollars.

• Now the price is 0.42 dollars and I can either buy back the same token or I can also invest the money in to some other good projects or I can simply withdraw them to my country's local currency.

If you fail with understanding what is profit sharing you will end up making and losing money only.

Thank You