The biggest lesson I learned from trading cryptos this year is never ever leave your coin unattended for too long. This is the practice of hodler. I have lost 70% just letting it sit.
Lately I have been buying in when the market is red. Then hop out when I gained about 7%-10%.
Then repeat. It takes discipline, but it works for me for now.
Yeah taking profit when you can is really the lesson I've had to learn as well, but buying good projects at a fair price is important. Better take Warren Buffet's advice here: "I'd rather buy a good company at a bad price than a bad company at a great price."
That exactly what I thought when I made a big purchase of STEEM at $1.49. And with every big drop, I have been buying more to average out, but it kept dropping. Now here we are at 27 cents. Ouch!