Let Your Longs Play

I'm lazy when I'm playing the role of a teacher if there's an easy lesson to be learned the hard way, and the cost isn't very high. But this one I'll share because I'm having to deal with it today and will the next few weeks.

So, the idea behind a long position the way I do them (Longs clicky) is you set it and forget it. But unless you are an emotionless robot, you are tending to remember what you got (until you have like 50 of them and can't keep track anymore without a spreadsheet) or have a general idea, so you will have the urge to quickly go pull a sell order if the coin starts rising.

I'm saying don't. Let it finish.

I have Nem long positions from ages ago with sell prices at 32, 34, 36, etc. A bunch of them. But... I'm going to let my longs play. For a few reasons.

1) You want that sense of completion. You earned that. Well, and the profit. But you should get your win too. 

2) It might start falling again (not likely at this point) but still, if you let it complete, not only did you get your win, you covered a base. That eventuality.

3) You can always just put it right back in if you want. Hell, wait for a short dip. Nem loves doing that for you at the perfect moment.

4) You have more options. I have lots of Nem. And now I have a nice pile of coin from my 32's selling. I can do whatever I want with it. I can look at other coins. Maybe something older and trusted that always comes back every once in awhile like Digibyte. Yeah. It could go 10 cents tomorrow. I'll get some of that.

Love you,

S


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