I want to start upping the amount of money I do trades with. I had started doing $100 trades to learn, now I want to up that into the $1000 range or higher. There were a few coins that were at a good buy price, but I didn’t have the amount of money available to trade with that I wanted.
What I did have was 100 zcoins. The sale of these would allow me to trade in the amount of money I wanted. My original plan was to look at selling these when it reached around $100 per zcoin. The price now was $75 per zcoin.
If I sold them I would have $7500 to invest. I was looking at buying into three coins so with that amount I could do $2500 per coin. This was the amount I was hoping to start investing.
So I sold the 100 zcoin for $7500 and invested into three other coins.
The next day zcoins price was at this amount.
If I would of held my zcoin for one day more I would of made $4500 more. The coins I invested in did not make $4500 profit in one day. Is this a little disappointing? Sure, who wouldn’t want an extra $4500. But it has only been one day.
I will have to see how it plays out over the long term. The coins I invested in could very well rise significantly in price making up for the lost profit.
Something to be learned from this is never feel bad about taking profit. You won’t always sell at the very top and could of made more on a sale. But if you think like that it will make you upset.
Enjoy the profit you did make. Not everyone has a chance to take a profit.