Perhaps one of the most asked questions with Welups even for veteran traders is when do I take profit and buy more?
Nowadays, it’s common practice to buy and sell crypto. You invest in a coin when it’s doing well or ditch it when the market messes up. But when a coin reaches its peak, you have to make your hard decision: sell it to take profit and get away with the money or wait and see if it goes even higher. Those who failed at this step were often unable to decide what they wanted out of their investments.
The hard truth is that no one could tell you the correct decision making except yourselves and you have full responsibility for your decision. They might give you all the stats, some predictions, a couple of pointers you want to hear, but none of which would be the answer you need.
This article will guide you through the process of decision making and hopefully, you’d be able to lay a firm grasp on your investment.
What is Take Profit?
Take Profit (TP) is the direction to close a trade at a specific value when the price is in your favour, to ensure the realization of your profit and transfer to your available balance. If the market reaches your required level and you have profited a pre-determined amount, the Take Profit order will activate and automatically close your position.
Take Profit is required for each position, except for non-leveraged BUY positions.
You can set your Take Profit by a specific level in the market or by amount. The maximum Take Profit for most trades is 1,000% of your investment +/- 1,000% of your current Profit & Loss. This means you will be able to continuously update your Take Profit levels as your profits increase.
You can adjust Take Profit at any time while the trade is open.
Under normal market conditions, the set Take Profit level is not guaranteed. When the market is volatile, the Take Profit level you have requested may not be traded in the market. In this case, Take Profit will trigger at the next available level. As a result, you can profit more than you want.
Setting Profit Targets from Welups to take profit
To set targets you must know your overall goals. What do you want out of your investment? Some people are in it for the long haul while others just want to catch a small break. Knowing where you stand helps make the decision a lot easier and quicker.
The next thing you need to decide is how much is enough. For those investing long term, this number is often insignificant. They would ride through the peaks and troughs of the crypto before even thinking about selling. These are the guys who would buy every dip and remain unfazed on every price bubble.
There are two things you want to consider: your initial investment and how much time you have to see an ROI (return on investment).
For example, let’s say you bought one WELUPS today when it was at $0,025. Two months later, the price went up to $1. If you sell now, you’d make a 4,000% profit – an incredible average return. However, when putting your initial investment into the equation, you’ve only made about 0,975 dollars. For casual traders, most would be pretty happy with the number, but those with more at stake have a choice to make.
This decision gets harder the more you’ve invested. Suppose you bought 100,000 WELUPS and not just one, your percentage is the same but you’ve now made over $100,000.
Experienced traders tend to hover around 1~3% of their bankroll, meaning they are willing to risk that much at any given time. That doesn’t seem a lot, but when your bankroll is $1 million or more, the numbers start to add up.
One alternative to taking profit is instituting a rules-based rebalancing plan. Let’s say you bought Welups this March with 2% of your portfolio. After a 7x return, that position now makes up close to 15% of your portfolio. You could put a ceiling on this position.
Why should I buy more WELUPS now?
Now some investors prefer to buy more WELUPS and hold come hell or high water. Others prefer to be more tactical in terms of taking profits.
Many Welups advocates have decided to buy and hold for more or less forever. Welups has a similarly strong community and ecosystem base. There’s nothing wrong with this strategy as long as you’re willing to put up with bone-crushing volatility on occasion. And all of Welups's backers and supporters have a strong belief in the development of Identity blockchain in modern business world.
3 reasons why you should buy more in WELUPS now :
WELUPS - The world's first Identity blockchain, is currently a center of discussion in the investment world because of its potential – which has been proven as WELUP’s value went doubled after its IEO was listed on the Exchange.
▶️ First: high profits. Let’s be frank every investor thrives for exceptional gain. WELUP’s potential profit value is extremely high because it can multiply one’s account 50~100 times in a short time.
▶️ Second: Safety. By listing WELUPS on many different International Exchanges now (LBank, LAToken, XT.COM, Hoo, Indoex, etc.), WELUPS has minimized most of the risks for its investors. The pre-built ecosystem supporting WELUPS has followed a specific and clear development roadmap, which in turn provided WELUPS with the highest safety level of investment compared to most coins being issued in the market at the time of writing.
▶️ Third: a strong community. The support of our community is the most prominent and most guaranteed reason for investing in WELUPS. Backed up with well-established projects like PAYAWE and IDbank, since its inception WELUPS has owned a community of up to thousands of people who already believe and support WELUPS to the fullest.
It’s time to speed up and expand your investment
Whether you trade for fun or a living, there are always hard choices in investment. Clarity comes a long way even when the results aren’t in your favour, Remember to start slow and have a target in mind.
If you want to invest in cryptocurrency and don’t know where to start – invest in Welups! Welups is the world’s first identity Blockchain platform for asset verification and encryption operated by Blockchain 3.0 Technology and Digital ID. A continuously evolving blockchain in terms of sustainability with the most multifunctional environment and interoperability with blockchains and other financial institutions. Currently, WELUPS has just been listed on international exchanges, this is a very good time for everyone to invest and buy more before the price goes up in the future.