AskLeo - To Sell or not to Sell?

knowhow92 in LeoFinance • 3 years ago

I know for fact that many experienced traders and crypto-enthusiasts are members of #LeoFinance so there is no better place to ask something related to trading than here.

So, for the past 4 months I've been holding some PHA, Phala.Network's native coin, and finally PHA started making some moves.

Phala.Network is a project build on-top of Polkadot blockchain so my guess is that the recent DOT pump is the reason PHA is mooning as well as some recent partnerships like the one with ZenLink

I really like what Phala team is working on and I believe this project has a bright future (same for DOT chain) so I'll sell only so I can buy back PHA in lower prices.

The real question is, when do I sell?

The image above is a 90d chart of PHA and was taken 25 minutes ago with PHA being up 100% the past week! I've bought PHA at the price of 0.12$ USDT so I am definitely in green.

I can sell my coins now and enjoy 100% gains but as I told you I wanna sell and buy back. I've tried that before and didn't turn out so well (Quick Trade - LRC/BTC) so today I need your opinion.

What would you do in my shoes?

Would you sell your PHA right now or should I hold on to them? Do you think that this pump is pure hype or is PHA really gonna be one of the top 200 coins soon?

PHA is #1 in Coingecko's Trending Search as I type

Let me know what you think at the comment section bellow. Give your lights to a newbie like me hahaha! Thanks in advance!

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3 years ago in LeoFinance by knowhow92

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bagofincome 3 years ago

Congrats! I think, if predictions are right, you are up for a bigger multiplier than that! Consider taking profits, though, if you need money. Anything can happen in the cryptoverse.

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1 vote

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knowhow92 3 years ago

Naaaah, just need more PHA! Hahaah! Trending #1 on coingecko will definitely introduce PHA to more people and DOT projects are on fire these days!

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1 vote

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cryptovios 3 years ago

Selling to rebuy cheaper is a dangerous game especially for new small cap alts.
Maybe you could more safely do it with $BTC, because we have a history of 11 years and well formed cycles to study.
But even for $BTC, you could safely do it on a yearly scale, neither daily or monthly.

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1 vote

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knowhow92 3 years ago

Yeap! I suck in trading and it might be a bad idea but damn, I wanna get my hands on more PHA ahaha! Guess I'll wait a bit and I might be lucky! If PHA moons to $0.50 I am definitely selling though hahahaha!

Thanks for stopping by @cryptovios

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1 vote

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acesontop 3 years ago

The altcoin season is just getting started. Waiting for a bit will probably profit more.

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1 vote

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knowhow92 3 years ago

Thanks for the advice man! PHA is already up 6% the past hour so I'm hodling! I placed a sell order at $0.50 just in case though 😂

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friendlymoose 3 years ago

You could sell half of it...

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1 vote

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knowhow92 3 years ago

I was gonna sell some earlier today but then the price pumped again! Gonna keep an eye on the price and sell some if I see a downtrend starting!

Thanks for your reply @friendlymoose

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poshbot 3 years ago

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filotasriza3 3 years ago

if you believe in the project don't sell. if you don't care sell and either withdraw or buy other altcoins!

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knowhow92 3 years ago

Just sold half of my stash for 0.27$ which I bough for 0.12$! Profits are profits so I won't complain! If the price moons more I am gonna sell the rest of 'em and try buy back later!

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lordneroo 3 years ago

Since you wanna buy back, I would suggest maintaining your current position and holding your stack as it is. But then again, that's just me. Good luck mate ;)

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knowhow92 3 years ago

Sold half of my stash for BTC! 26% up in BTC was a gift! Hope I can buy back more when the price chills!

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rajeshwarprsd 3 years ago

Nice information bro

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