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Well... now that we are in the midst of a sea of red, and liquidations and collapses all around.... this is actually a really good time to plan ahead to set targets for what you might consider to be acceptable "take-profit" points. Of course, that is assuming that you haven't been scared off completely from crypto and blockchains in general (PS, it isn't about the money, it is about replacing the digital infrastructure that is currently at best a facade...).

When there is max pain all around (and lets not kid ourselves, the potential is there for much more unwinding to come...), it is the best time to relearn the lessons that everyone has at one time or another come to grips with. Decentralisation means full responsibility... greed trumps caution and safety, and with an incredible emphasis on personal responsibility and a lack of regulation means that there are always going to be sharks in the water... and lets not kid ourselves again, there is a high likelihood that you (and I) are NOT the sharks! Anyway, it is quite interesting that much of the complaints that I see at the moment, are from people who have not really grasped what crypto and decentralisation truly means... sadly, many had seen it as a generational wealth transfer, a way to free themselves from wage slavery, or a get rich scheme. It is none of those thigns... it is a technology that promises to overhaul digital infrastructure, and at its core comes personal responsibility... and with that, there is never anyone else to blame or complain to when things come undone. It is truly a viscous lesson... and it is sad to see it all play out time after time...

However, at this point... it is probably a good time to start thinking about a potential future bull run... and starting to make targets (and have the discipline to stick them...) about how and when to take profits into stablecoins or fiat. Stablecoins if you intend to reinvest in the next downturn or to have the ability to chase interesting new projects, and fiat if you want to convert paper gains into concrete material things like a house or a car... or whatever it is that catches your fancy!

Now... why at the moment of pure pain? Lets be honest with ourselves, when the bull market is in full swing... what is going through your mind. It surely isn't going to be selling... more likely than not, it will be the idea that the bull market is not going to end today... and just one more day will bring about more profit and paper gains!

I had a friend who said that for this sort of risky investing... you should set targets about what will actually make you happy and content. And when you have reached that point, you have won.... it isn't an endless chase after meaningless numbers. He cashed out some of what he had profited from being an initial crowdsale participant in Ethereum, and bought a nice house. And never looked back, even as ETH rose to all time highs in the past year. No, he had his beautiful house, and some ETH in reserve... and more to the point, he was happy!

So, start setting your goals and targets now... you will be more realistic than when it is in the full heat of a bull market. Everyone has a different way of doing this...

Personally, I set targets for some of the major crypto assets in terms of price per unit... and at each price point, I will decide that I want to offload a certain percentage (5-10 percent of the total)... of course, I still generally try to aim to hold onto at least 50 percent of the total starting amount. Meanwhile, I also have whole portfolio targets (which are more often hit...)... which when the whole portfolio value reaches a target, I aim to trim about 5 percent of the total. That is a little bit trickier, as the increase of various projects is pretty uneven...

So... those are my plans and targets, and I write them down somewhere so that I'm not tempted to "forget" them when everything is running strong. In the past... I've been pretty disciplined about doing what I had planned (that is the critical part, it is all too easy to fall into the "one more day" gamble...)... however, I did miss one target as I was travelling during that time and din't have access to my hardware wallet and reliable internet. So, I did actually miss the last top target! But I did make the rest of them, and so, missing the top wasn't such a huge disaster... again, it would have been nice to collect it... but once things are done, you can't look back a regret!

So, whilst we are surrounded by pain and misery... do something to keep your mind off it all... plan for a future bull run with targets to take profit... and use this moment to steel your discipline in preparation for the eventual temptation of greed that will come with an overheated market!

I can also be found cross-posting at:
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Publish0x

Handy Crypto Tools

Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
Kucoin: My second choice in exchanges, many tokens listed here that you can't get on Binance!
FTX: Regulated US-based exchange with some pretty interesting and useful discounts on trading and withdrawal fees for FTT holders. Decent fiat on-ramp as well!
MXC: Listings of lots of interesting tokens that are usually only available on DEXs. Avoid high gas prices!
Huobi: One of the largest exchanges in the world, some very interesting listings and early access sales through Primelist.
Gate.io: If you are after some of the weirdest and strangest tokens, this is one of the easiest off-chain places to get them!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
Poloniex: One of the older regulated exchanges that has come into new ownership. I used to use it quite a lot, but have since stopped.
Bitfinex: Ahhh... another oldie, but a goodie exchange. Most noted for the close affiliation with USDT and the Basic "no-KYC" tier!