FOLP - The Fear Of Losing Profit
Of all the lingo floating around the cryptocurrency community - FOMO, FUD, PND, HODL, etc., I have yet to see anyone mention one of my biggest fears when I am trading, FOLP. So I'm gonna coin it - pun intended - right now.
FOLP - (Fear Of Losing Profit) the feeling you get when a certain coin you own is in profit and you want to cash out, but you believe the coin's value is still rising and you fear that you will miss out on higher profits.
Example: "Last night, I wanted to trade all my Verge for BTC, but I held it because of FOLP. This morning I found out Verge had dropped. I freakin' suck!"
If you have felt FOLP before, you can relate with what I'm saying. And you're probably a day-trader and not much of a HODLer. but I've felt FOLP from the HODLer's side of the equation. Please let me know if there is another term for this in the comments.
For this, trailing stop orders are excellent. If you want to sell a coin, you can still profit from an ongoing upward trend. Unfortunately most exchanges don't have them (Bitstamp and Bitfinex do have them).
Very good!