Crypto: When Is It Time To Let Go Of Your Coin?

So like everybody this morning, I woke to see green everywhere. I don't check prices often but I happen to log into PeakD and in my wallet, it showed that Hive had increased to over $.16. So I knew something was up.

I went to check steem and there it was. At the moment I discovered this it was up 27% which was huge considering that in my mind I had broken up with steem and wanted to sell on a pump.

But, I didn't do it. I froze. And I don't know why. My goal was to profit a little from steem, sell and go into leo. Was 27% not enough for my plan to buy more leo?

I immediately started to think that if this was the "pump" I'd be upset for missing out after waiting the entire bear market to dump my steem.

The problem for me is that Hive doesn't follow steem and I seriously doubt that Hive is in for a pump that would offset the missed gains in steem. I also think that Leo will probably dump after the screenshot so in my mind steem, as shitty as it is, would be the best shot at cashing in.

What I realize now is that I'm too emotional about my coins and the pain of losing money or missing the pump of "my" coin is far more painful than the gains in another would be gratifying.

But if I was acting objectively, I would see the 27% 1 day gain, sell out and try to make more gains somewhere else. It's rare that steem moves upward by more then 10% a day so this was a real winner.

But I'm not a trader, that's why steemit/hive/leo were so attractive to me in the first place. You dont have to know anything about finance to participate and earn. You learn along the way but obviously I didn't learn enough.

I'd love to hear thoughts on what would be a good steem exit strategy in the comments. It seems that could be a good pump coin from the fact that it is centralized now. I have no real interest in it anymore and enjoy Hive and Leo but strangely can't let go.

Posted Using LeoFinance ^Beta