Row 8114

Row ID: 8114 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 8114 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Hey guys

We often hear how much willpower it needs to accumulate when everyone is negative and prices are in free fall. And that is true.

But taking profits in full euphoria mode is an order of magnitude harder. When assets are dumping, it is in most humans psychology to have a hard time to admit a mistake and sell & there is quite some sunken cost fallacy going on. People usually don't want to sell when prices are falling and buying the dip reaffirms that "you aren't wrong and the market will recover."

When everyone is having a huge **party** due to gains though, it is incredibly hard to pull the plug and take some profits. You always want **more**. When ETH hits 7k people will be talking about the super cycle and price targets of 15k. Then they will ride their assets back down if we enter another bear market phase. Losing money doesn't hurt as much as the feeling of missing out when everybody else is winning.

That's why I would suggest everyone to **think now** about your long term strategy and put a profit taking strategy in place in case you want to. If you just say "I'll take profits when prices are high eventually" it will never happen. You need clear targets. 5% when ETH crosses X price, another 10% when ETH crosses Y price etc.

Greetings

FieldValue
text Hey guys We often hear how much willpower it needs to accumulate when everyone is negative and prices are in free fall. And that is true. But taking profits in full euphoria mode is an order of magnitude harder. When assets are dumping, it is in most humans psychology to have a hard time to admit a mistake and sell & there is quite some sunken cost fallacy going on. People usually don't want to sell when prices are falling and buying the dip reaffirms that "you aren't wrong and the market wi…
label r/ethtrader
dataType post
communityName r/ethtrader
datetime 2024-05-18
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Raw Record

{
  "text": "Hey guys \n\nWe often hear how much willpower it needs to accumulate when everyone is negative and prices are in free fall. And that is true. \n\nBut taking profits in full euphoria mode is an order of magnitude harder. When assets are dumping, it is in most humans psychology to have a hard time to admit a mistake and sell & there is quite some sunken cost fallacy going on. People usually don't want to sell when prices are falling and buying the dip reaffirms that \"you aren't wrong and the market will recover.\" \n\nWhen everyone is having a huge **party** due to gains though, it is incredibly hard to pull the plug and take some profits. You always want **more**. When ETH hits 7k people will be talking about the super cycle and price targets of 15k. Then they will ride their assets back down if we enter another bear market phase. Losing money doesn't hurt as much as the feeling of missing out when everybody else is winning. \n\nThat's why I would suggest everyone to **think now** about your long term strategy and put a profit taking strategy in place in case you want to. If you just say \"I'll take profits when prices are high eventually\" it will never happen. You need clear targets. 5% when ETH crosses X price, another 10% when ETH crosses Y price etc. \n\nGreetings \n\n",
  "label": "r/ethtrader",
  "dataType": "post",
  "communityName": "r/ethtrader",
  "datetime": "2024-05-18",
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