Your exit plan is as important as your entry plan

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As the year draws to a close, it presents a perfect opportunity for us to set goals for the upcoming year. Setting goals provides us with a clear direction and path to follow throughout the year, and helps us to make necessary corrections if we deviate from our intended path. I have decided to set my goals for the upcoming year, with one of the most significant being what I want to achieve. It's important to note that setting simple goals can have a significant impact on the outcome of our year, yet many people overlook this fact.

One aspect that is often overlooked by many people is how to manage their portfolios and investments. While most individuals focus on when to buy an asset, it is equally important to have a strategy for exiting and taking profits. Setting realistic goals for both entry and exit can help avoid losses in the long run. Therefore, it is crucial to have a plan in place for managing investments.

Taking profits is a crucial aspect of investing, but it's not always easy to do so with the volatile nature of the Crypto and the tempting lure of greed, it's easy to lose sight of our plans and miss out on opportunities. However, years of experience in the crypto industry have taught me the importance of having a well-laid exit strategy. By planning, I have been able to grow my portfolio and take advantage of market opportunities. Looking towards the future, I have already outlined a clear plan for taking out my profits in the coming year, especially with the expected boost in cryptocurrencies.

My plan for hive

hive is 90% of my portfolio, and this is why I have set goals on how to take out my profit when the peak bull Market is here. This is significant and as of the time of writing this post, I have 66k hive, and I know before the crypto reaches its peak I should be around 70k, so the plan is when hive price is around $1, I will sell 10% of my holdings because the time I want to take out profit is when the price hive is around $3, but I don't want let greediness to overcloud my judgment that is why when the price also reached $2 I will also sell 5% This is how I want to approach things in the peak of the bull Market. I will sell some hives as the price increases.

After taking out a profit, I've had my eyes on HBD for a while now, and this is where I will be putting all the profit to make more yields, even though I will also sort out some real-life matters. But apart from that, most will be transferred to savings for the 20% APR, and all my gain in Crypto. With the remaining 10% in my wallet, I will just wait for the perfect time to sell them. I don't care if they increase later, The profit is very important, no matter how small it is as long as you’re not selling at a loss, making a profit is a goal.

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Invest in what you understand.

Thanks for your time.

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