05-12-2021, 01:31 AM
I Sold all my DogeCoin... and I Don't Regret It
<!-- SC_OFF --><div class="md"><p>To make a long story short: I love DogeCoin, but I’m not beholden to it. </p> <p>I had 11336 Doge with an initial investment of $876. I then sold it all for $5706.66, a 6x ROI, and roughly $4830 in net profit (not taking into account taxes).</p> <p>Look, I thought about selling when it was around 70 cents but didn’t. I wanted to see that sweet Dolla Dolla Bill, Y’all. </p> <p>But it didn’t happen. In fact, it crashed after SNL, and has been overall, going downhill ever since (at least until this afternoon [Monday]).</p> <p>I gave it a day to see if it’d recover, (Sunday) but it’s only got worse. </p> <p>Could it go up? Of course. But I sold at a an awesome profit. </p> <p>So I sold at around 50 cents this morning.</p> <p>Once the money clears, I’m going to take that money and reinvest it into some cryptos I can make interest on like ETH. MORE stable stuff; although of course everything is volatile. </p> <p>My point here is this: Although I like the investment, to me, it’s nothing more than just that, an investment. A vessel to profit. </p> <p>I see many looking at Doge with the same mentality as the WSB crew and GME: “HODL the line!”</p> <p>I think this is dangerous thinking if you’re not mentally prepared to wait out that risk and possibly lose it all. </p> <p>It’s also dangerous to allow greed to dictate decisions. It can cause you to miss great opportunities for profit. I wanted a dollar but had already planned on selling at .50 if it didn’t reach it.</p> <p>So I did. And I’m okay with that. </p> <p>Another user once posted this sentence: “No one ever lost money taking a profit.”</p> <p>I’ve taken that phrase to heart. I’m trying to balance possible profit against risking loss. And I’m okay not making the extra money, because I came out ahead. </p> <p>For those still in Doge, I really, really hope it goes to the moon. I wish everyone on these subs financial prosperity if it puts them in a better place. </p> <p>But don’t stay in just because others are telling you to. Stay in if you have the serious conviction to do so and have an exit plan. </p> <p>TL;dr: I sold my Doge for a 6x profit, and recommend others only hold if they have the risk tolerance to do so and not because other people are telling them to. </p> <p>Disclaimer: Not financial advice. DYOR and all that. Make your own decisions.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/cotyschwabe"> /u/cotyschwabe </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n9os1x/i_sold_all_my_dogecoin_and_i_dont_regret_it/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n9os1x/i_sold_all_my_dogecoin_and_i_dont_regret_it/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>To make a long story short: I love DogeCoin, but I’m not beholden to it. </p> <p>I had 11336 Doge with an initial investment of $876. I then sold it all for $5706.66, a 6x ROI, and roughly $4830 in net profit (not taking into account taxes).</p> <p>Look, I thought about selling when it was around 70 cents but didn’t. I wanted to see that sweet Dolla Dolla Bill, Y’all. </p> <p>But it didn’t happen. In fact, it crashed after SNL, and has been overall, going downhill ever since (at least until this afternoon [Monday]).</p> <p>I gave it a day to see if it’d recover, (Sunday) but it’s only got worse. </p> <p>Could it go up? Of course. But I sold at a an awesome profit. </p> <p>So I sold at around 50 cents this morning.</p> <p>Once the money clears, I’m going to take that money and reinvest it into some cryptos I can make interest on like ETH. MORE stable stuff; although of course everything is volatile. </p> <p>My point here is this: Although I like the investment, to me, it’s nothing more than just that, an investment. A vessel to profit. </p> <p>I see many looking at Doge with the same mentality as the WSB crew and GME: “HODL the line!”</p> <p>I think this is dangerous thinking if you’re not mentally prepared to wait out that risk and possibly lose it all. </p> <p>It’s also dangerous to allow greed to dictate decisions. It can cause you to miss great opportunities for profit. I wanted a dollar but had already planned on selling at .50 if it didn’t reach it.</p> <p>So I did. And I’m okay with that. </p> <p>Another user once posted this sentence: “No one ever lost money taking a profit.”</p> <p>I’ve taken that phrase to heart. I’m trying to balance possible profit against risking loss. And I’m okay not making the extra money, because I came out ahead. </p> <p>For those still in Doge, I really, really hope it goes to the moon. I wish everyone on these subs financial prosperity if it puts them in a better place. </p> <p>But don’t stay in just because others are telling you to. Stay in if you have the serious conviction to do so and have an exit plan. </p> <p>TL;dr: I sold my Doge for a 6x profit, and recommend others only hold if they have the risk tolerance to do so and not because other people are telling them to. </p> <p>Disclaimer: Not financial advice. DYOR and all that. Make your own decisions.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/cotyschwabe"> /u/cotyschwabe </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n9os1x/i_sold_all_my_dogecoin_and_i_dont_regret_it/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/n9os1x/i_sold_all_my_dogecoin_and_i_dont_regret_it/">[comments]</a></span>Kind Regards R