AskLeo - What's Your Profits Taking Strategy for This Bull Market?

The month of April has been quite a dull one. Dumps and pullbacks, consolidation and somehow an over all time for accumulation is how I'd describe it. May is going to be an interesting one when we will see prices rebounding and probably a true altcoin season typical of a bull market. @edicted has pretty much talked about that for quite a while.

I tend to believe he's right in his reasoning because I see how the market has behaved back in 2017, how the BTC dominance is falling and how it will at some point enter a free fall, and to be honest I believe there's still a lot of room for the upside for the overall market. I don't think that from a time perspective we have many months left, but my take is that at least until the end of the year we will see prices of cryptos steadily growing.

No one knows when the top will occur for Bitcoin or any altcoin. We can only assume, and chasing for that perfect top is almost mission impossible. You might end up selling too late, too soon or right on the top. The last one being quite hard to achieve imo. Hence I'm going to apply a strategy that I have never used so far and that's DCA, or dollar cost averaging.

I have never used it so far because I kind of have a gambler's mentality when it comes to crypto trading and investing, but over time I realized that discipline beats any other strategy and I really have to be disciplined this bull market. Otherwise I'll end up with probably minimal profits and a lot of frustration. I already realize I haven't played my game the way I should, but chances for great profits are not lost yet.

The only mistake I regret this bull market is not sticking with the plan. No matter the coin I would have put my fingers on back in the bear market days, when everything was low, should have been nailed in my portfolio and not traded from one to another missing out on so many opportunities. I'm no longer doing that.

So, my strategy as mentioned above will be DCA and I will start that sometime in June-July, depending on how the market behaves. The play is simple. I'll dump 10% of my holdings every month, especially during uptrends until like the end of the year and I will keep around 50% as a moon bag. Parabolic advances is where most of the money are to be made, but as I wrote previously nothing is certain thus DCA on the way up seems quite safe.

That's pretty much my strategy. I don't plan on trading my way up as I'm not good at that and will definitely not stick to the plan if anything changes radically. If for example my crypto will 10X tomorrow or in the next month or so, I might sell more than just 10% or start doing that earlier than initially planned, if the situation requires that, but overall that's my strategy, if the market will replicate its 2017 performance.

I have a previous bull market that kicked me into the bear market one with huge losses rather than profits and I don't plan on repeating that experience. The idea is that I'm not taking high risks, but not selling for peanuts money either. The meat in between is what I'm looking for and hope to slice myself some nice steak this year. What about you, What's Your Profits Taking Strategy for This Bull Market?

Thanks for attention, Adrian

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