#GateSquareCreatorNewYearIncentives

You’ll make a lot of money this bullrun, and give it all back, if you don’t understand profit-taking. (🧵)

Let me tell you a story about a guy who turned $1K (or thereabout) into $750K in the 2021 Bullrun and lost it all again.
When the bullrun came, his bags started pumping, it pumped for weeks until his wallet was then worth $750,000. But my bro didn't take profit or sell off. According to those who knew him personally, he told them he wanted to hit $1 million. He said as soon as his portfolio hit $1 million, he wouldn't even take profit, he'd sell off.
But markets do not always care about our targets. As fate would have it, the wallet never hit $1 million. It maxed at $750K and then started to dump. His portfolio dropped from $750K to $700K, he didn't flinch. $700K became $600K, he was still calm. It dropped to $500K, he said it was a healthy retracement. And you know how we crypto guys think; "Don't worry, it's just a simple pullback. The next pump will be parabolic." But the only thing that was parabolic was the dump as he watched the same wallet that once showed $750K slowly bled down until it was under $100K. The last update I heard? He sold with less than $80K.

It was a sad true life story but all these happened because he made an emotional decision and didn't understand the principle of taking profits. This is what happens when greed disguises itself as conviction.

Most people do not even know the difference between taking profits and selling.

You hold 10B $WKC, it pumps to $0.000001, you sell 1B pieces and wait for your next take-profit price point, that's called taking profit.✅

You hold 10B $WKC, it pumps to $0.000001, you sell all 10B pieces because you think the run is over. That's called selling off and exiting the market.❌

Let me teach you the best way to take profits; it's called Dollar Cost Averaging (DCA).
Most people know DCA as buying over time. But do you know you can also use DCA on the sell side?
DCA taking profits means selling portions of your tokens at predefined price or market cap instead of trying to sell the exact top. Why? Because no one can guess the exact top.
You might be convinced $WKC is going to $1. That’s fine. What you don’t know is when. So you take profits on the way up while you wait. Here's how to do it:

When you buy a token, set your take-profit price points, and sell small portions as the price increases. For example: if it pumps by 50%, you sell 10% of your holdings. If it pumps again by 100% (2x), you sell another 15% and so on.
As the price of the token keeps increasing rapidly especially in a Bullrun, you sell more aggressively.
Also, instead of using price points, use MarketCap. For example: if you bought $WKC at $10M MCap, sell portions at $100M MCap, $500M MCap, $1B MCap etc.
If you wait for $1 before doing anything, you may never see it, and you could watch all your gains disappear.

DCA allows you to secure your profits consistently at every point while keeping exposure and saving moon bags for future potential or speculative price points.

Don't be like the guy who had a chance to make $750K but only made $80K. Remember the profit you see in your wallet is not real until you take it.