proxy studio

goat

Category: Advice
Tags: meme, profit-taking
Notes: before I went to bed, I purchased 50k degen worth of a /goat community token. I woke up today and my $GOAT was worth 950k degen, on paper. In dollar terms, that is $1,700 to $32,000. Here are some notes on how to take profit responsibly

working on the studio, dao, bot 

@clanker

- goal: get my initial buy out, plus enough profit that I can comfortably hold $goat, which seems to have some traction here and on crypto twitter
- selling 77m tokens let me take profit and get my initial cost out. do you have to do this responsibly? no. should you? yes. forget about paper gains, the number is fake

- don't get attached to the estimated value your wallet shows you per token, all that matters is what you hold, whats in the LP, and how much you can sell at any given moment. in this case, selling 200m tokens is not reasonable. plus, I think $goat goes higher

we don't even know if this guy is real

- the liquidity pool on degenswap has 3.2m wdegen paired with 750m goat, so right away i know I don't want to sell 275m GOAT, which would extract a third of the liquidity and crash the price. I can't sell that much, slippage is too high
- I do want to take profit, this is a trade

Know when to hit the bench and take a breather. This is just our Rookie year.

Great explanation of a very important method of responsible trading.

thank you nello, cutting merc cap in on this buy too, just figuring out the numbers.

The only note I'm taking is buying a token before going to bed