know when to back out

The fun of 50-100%+ profits are indeed, enticing, but sometimes the market rally just hits a stop. Do you stay in? Do you play it safe?

(Grandcoin run, market stagnation at 390. I got out right then :-) )

The proper way to analyze this is to look at the buy/sell volumes that are right near the closing prices and look at who has the power. For penny coins, there may be as few as 2 or 3 major players in the market rocking the price back and forth with a couple bitcoins worth of penny coins. Think to yourself - can that one guy buying conquer the sell wall in time? Be honest, and decide accordingly. 20% isn't bad, and it's certainly better than wasting your time and ending up with 0% at the end of a 1-2 hour market run.

General rule of thumb: parabolic curves never last long. If you think you should get out, you're probably right.

edit: definitely mistake, heading up to 430. Lessons will be learned, stay tuned.

edit 2:

Definitely the right choice. Only missed out on a small profit margin. If I stayed, trades would've been much riskier.