It’s always easy to see in hindsight when would have been the best time to buy and the best time to sell.
Some people advocate that you should either buy or sell when the price changes by more than 10%. Other say buy and hold on for dear life.
I recently did a trade where I made a nice little profit but if I’d held on longer I could have doubled my money in 24 hours.
I had £200 sitting available to invest and noticed there had been a significant rise in the price of UMA The trend had been steady increase but now it was a sharp increase. I decided to put my £200 and get out when the price had risen by 10%. The price was around £12 and initially and I traded out at around £13.50. I’d netted a nice £20 for doing very little. However imagine my surprise to wake up the next morning to fine the price had increased 100% to £25! If only I’d held on longer! My £200 would have been £400!
What have I learned?
Actually I have no regrets. I achieved what i set out to do. In fact I’m pleased that I had the discipline to follow through with the original plan.
On a side not I’m still a winner longer term because my £20 profit I left in UMA tokens. o now my £20 has increased to £40. Not as big a gain as if I’d held on but a winner is a winner!