Always take profit | Bitcointalksearch.org

fullhdpixel

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Quote from: Wind_FURY on December 27, 2021, 07:57:36 AM

I believe many newbies in the topic want trading to be the same as a “regular-paying” job. It’s a mistake in my opinion, and that mistake will cause you to be inefficient with your capital, because it will make you sell early and miss plenty of profits.

You are right for bitcoin market and for most of the altcoin markets, booking profits time to time might lead them achieving what they really want to. I agree that trading nowhere near to regular job but for the skilled traders it will pay more than a regular job. So, regularly booking profits may be a right approach even with bitcoin markets compared to long term holding when you plan up buying back when bottom reached.

Quote from: taufik123 on December 27, 2021, 09:33:07 AM

Other people they see are only showing off their gains, not their losses. We don't know how big the loss is compared to the gain.

Similarly traders do hide about their big profits from trading for no reason and might give out only clues. So, both big achievements and big frustrations are not showing off which is the reason why we always have delusional belief on trading which sometimes leads traders to go greedy.

taufik123

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Quote from: Raflesia on December 25, 2021, 02:25:13 PM

-snip-
I used to know how beginners are always tempted by the success of others without thinking about the risks and responsibilities, so it is important to underlie the techniques needed.

Other people they see are only showing off their gains, not their losses. We don't know how big the loss is compared to the gain.
Equipping yourself with basic trading knowledge is a must if you want to trade in crypto. If without any knowledge base, it is impossible to trade. Guessing won't always be lucky.

AicecreaME

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Quote from: Zilon on July 27, 2021, 01:39:52 PM

Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.

$1-$3 profits ain't that bad if you're scalping, but if not, this is too small to be called profit, especially if you spend too much time on a certain technical analysis for a certain coin. Yes, I do agree that taking profit is important because that's what we need to keep on trading but we must not get easily faze by a fake out and take the $1-$3 profit. Setting a stop loss is also important, that would help us to minimize our losses as much as possible.

Wind_FURY

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I believe many newbies in the topic want trading to be the same as a “regular-paying” job. It’s a mistake in my opinion, and that mistake will cause you to be inefficient with your capital, because it will make you sell early and miss plenty of profits.

Pamadar

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Quote from: Ziskinberg on December 26, 2021, 04:49:46 PM

Quote from: rahmad2nd on December 26, 2021, 11:23:07 AM

I try take profit as soon possible although 5% from my fund and I think is better than become long term holder or investment called by some on group Grin

, right now I try with $7000 in my fund to trade and always consistent after success filled buy order I use limit sell order with price above 5% as my profit, I don't really care later price can pump more than 20% but I think keep consistent although with little profit is enough during we can take profit almost every day or few days without become long term holder.

A great idea especially if you have good capital, consistently making 5% is possible because of the market volatility, but then you have to be smart enough with how to handle your short-term trading or your day trading in order to end up profitable. You can also evaluate your total profit on a yearly basis and make a comparison to the previous year to see your consistency rate.

Yup, if that system that you use really works, the amount of profits is already good if you can execute it appropriately.

If you can have more winning trades, 5% is far better than anything, you don't need to be greedy
and hope for much bigger profits if you are unsure about the market.

Unless you have that deeper knowledge and you are willing to adjust and take the bigger risk, but I'm more on
taking the profit even it is only a small amount.

Sirait

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Quote from: Zilon on July 27, 2021, 01:39:52 PM

Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.

I'm trying to master this, taking a little profit to develop my market intuition. professional traders surely learn this trick too so that they can become professionals and their profit percentage is greater than their loss. for beginners, don't be afraid to learn, let's together prevent losses in trading into valuable learning.

Fatunad

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Quote from: Ziskinberg on December 26, 2021, 04:49:46 PM

Quote from: rahmad2nd on December 26, 2021, 11:23:07 AM

I try take profit as soon possible although 5% from my fund and I think is better than become long term holder or investment called by some on group Grin

, right now I try with $7000 in my fund to trade and always consistent after success filled buy order I use limit sell order with price above 5% as my profit, I don't really care later price can pump more than 20% but I think keep consistent although with little profit is enough during we can take profit almost every day or few days without become long term holder.

A great idea especially if you have good capital, consistently making 5% is possible because of the market volatility, but then you have to be smart enough with how to handle your short-term trading or your day trading in order to end up profitable. You can also evaluate your total profit on a yearly basis and make a comparison to the previous year to see your consistency rate.

Actually a self preference because not all does have that kind or level of patience when holding up for too long thats why whenever they do see some % gains on their investor or into their port then they do tend to sell
without any doubts and hesitance because profit is always a profit and that what matters the most which i could say that it would really be normal on having this kind of set up or trading ways
even myself i do have that kind of behavior on doing trades. Secure profits while you still can and try to buyback when theres some price correction
or dips which repeat on the same process and make yourself sustainable

Ziskinberg

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Quote from: rahmad2nd on December 26, 2021, 11:23:07 AM

I try take profit as soon possible although 5% from my fund and I think is better than become long term holder or investment called by some on group Grin

, right now I try with $7000 in my fund to trade and always consistent after success filled buy order I use limit sell order with price above 5% as my profit, I don't really care later price can pump more than 20% but I think keep consistent although with little profit is enough during we can take profit almost every day or few days without become long term holder.

A great idea especially if you have good capital, consistently making 5% is possible because of the market volatility, but then you have to be smart enough with how to handle your short-term trading or your day trading in order to end up profitable. You can also evaluate your total profit on a yearly basis and make a comparison to the previous year to see your consistency rate.

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Quote from: elisabetheva on December 26, 2021, 03:26:44 AM

investment in potential projects and coins is highly recommended and you are right that if you want to make a profit then don't miss out on projects and coins that can clearly be profitable, namely buying and investing your capital to invest in good projects and potential coins.
waiting for the right moment and not being too hasty when the price we want has not been met or when it has been fulfilled so don't be greedy to sell it immediately.

If someone had a target price that they would want to sell at and the market reaches that price, I think greediness in this case would be them not selling their coins and still continue to hope for more increase, and not like you have said it.

Well, I am not trying to say that it is bad to keep holding and hoping for more increase. If you reach your price target and the market still seems like there would be more increase, then you can still to hold and wait to see if there would be further increase in the price. I have seen people who would decide to take a little profit from what they have gotten so far and leave the rest in their wallet in case there should be more of the increase in the price.

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I try take profit as soon possible although 5% from my fund and I think is better than become long term holder or investment called by some on group Grin

, right now I try with $7000 in my fund to trade and always consistent after success filled buy order I use limit sell order with price above 5% as my profit, I don't really care later price can pump more than 20% but I think keep consistent although with little profit is enough during we can take profit almost every day or few days without become long term holder.

panukurap

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When doing daily trading, I usually apply this method. Indeed, the profits are not too big but it can still support my family, moreover I get a profit at least once a week or even more. Small profits don't matter, the important thing is that you still make a profit, not a loss. With day trading I can be much more careful, thorough but still have freedom.You can also update the market more so it is not easy to fall behind on market trends.

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Quote from: Theones on December 25, 2021, 01:31:32 PM

Quote from: BuNga_cute on December 22, 2021, 06:35:52 AM

For beginners, don't immediately aim for big profits, because beginners need to learn how to make a small profit first. So they can learn to appreciate
the profit generated when trading, keep in mind that trading is not an easy thing. So for beginners, there is no need to rush into chasing big profits.
There is a process that a beginner must go through to understand first how it feels to make a profit. Moreover, do not underestimate the small profits
that we make from trading, because small profits if accumulated will be large too.

Beginners must learn how to get small profit and also must learn to bear small losses. Losses will be small if you invest small money and vice versa. Many new comers make this mistake of jumping in crypto straight away with huge capital after getting inspired by successful stories narrated by signaling groups. Crypto trading requires knowledge which in turn require your time and effort.

What must be realized for beginners that the success story is certainly inseparable from failure,
so it's very important to learn and understand everything crypto related,
Don't forget that here the risk is big and it takes effort and hard work if you want to make a profit

elisabetheva

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Quote from: K4C on December 23, 2021, 10:33:48 AM

In this case i said that if you need to every time receive a profit without any loss so i said that you need to invest a most beautiful project and see there road map which token are launch in a big exchanges so you invest your money and hold there token and keep patient so that time which a token start rise there price so you use that procedure definitely you receive a profit.

investment in potential projects and coins is highly recommended and you are right that if you want to make a profit then don't miss out on projects and coins that can clearly be profitable, namely buying and investing your capital to invest in good projects and potential coins.
waiting for the right moment and not being too hasty when the price we want has not been met or when it has been fulfilled so don't be greedy to sell it immediately.

BuNga_cute

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Quote from: Theones on December 25, 2021, 01:31:32 PM

Quote from: BuNga_cute on December 22, 2021, 06:35:52 AM

For beginners, don't immediately aim for big profits, because beginners need to learn how to make a small profit first. So they can learn to appreciate
the profit generated when trading, keep in mind that trading is not an easy thing. So for beginners, there is no need to rush into chasing big profits.
There is a process that a beginner must go through to understand first how it feels to make a profit. Moreover, do not underestimate the small profits
that we make from trading, because small profits if accumulated will be large too.

Beginners must learn how to get small profit and also must learn to bear small losses. Losses will be small if you invest small money and vice versa. Many new comers make this mistake of jumping in crypto straight away with huge capital after getting inspired by successful stories narrated by signaling groups. Crypto trading requires knowledge which in turn require your time and effort.

Many newbies are motivated to make big profits because they see the success of others. Even though people who are successful in generating large
profits are usually not obtained instantly, sometimes it takes a long process, after going through some losses first. So if we want to be a successful
trader, try to learn how other people achieve it. Usually there is a lot of effort to be done and there is also some sacrifice of time and money.
So it's not easy to be a successful trader with big profits, there are initial steps that must be taken first. Like trying to make a small profit first on
a regular basis, if we are already producing a small profit, we can try to slowly increase the profit target that we want to generate.

Raflesia

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Quote from: taufik123 on December 25, 2021, 03:51:36 AM

Quote from: livingfree on December 25, 2021, 12:15:22 AM

It's not foolish to expect profit in trading if you've been trading for long and you've been making a profit most of the time.

But this is where the newbies got misled. When they've just heard about trading and profiting, it makes them think that if they trade too, they'll make money easily.

and they have not been educated about the losses that will overshadow them when trading without any knowledge.
Taking profit on every trade is a must. It depends on what trading strategy is used.

If beginners only buy and then sell when they are profitable, of course they will panic when the price continues to fall.

Initial knowledge about trading must be really mastered, don't just be tempted by the profits, the losses that will be experienced will also be there. The risk is the responsibility of each.

This should be a consideration for beginners so that they are not always tempted by profitable words from trading, I believe that even a professional is not possible to take profits every time because this is the time when he experiences the risk of loss, so beginners still have to master the basics of the trade.
I used to know how beginners are always tempted by the success of others without thinking about the risks and responsibilities, so it is important to underlie the techniques needed.

Theones

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Quote from: BuNga_cute on December 22, 2021, 06:35:52 AM

For beginners, don't immediately aim for big profits, because beginners need to learn how to make a small profit first. So they can learn to appreciate
the profit generated when trading, keep in mind that trading is not an easy thing. So for beginners, there is no need to rush into chasing big profits.
There is a process that a beginner must go through to understand first how it feels to make a profit. Moreover, do not underestimate the small profits
that we make from trading, because small profits if accumulated will be large too.

Beginners must learn how to get small profit and also must learn to bear small losses. Losses will be small if you invest small money and vice versa. Many new comers make this mistake of jumping in crypto straight away with huge capital after getting inspired by successful stories narrated by signaling groups. Crypto trading requires knowledge which in turn require your time and effort.

CDC AP

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Well, that is not bad at all, earning a net income of $1-2$ per session is not bad at all and if you can able to manage your profit continuously that is the best part of making a profit here. But I don't think if you can do that continuously, there is no guarantee that you can always have a winning per session. In trading, you need a large capital so that you can widely choose a good project that you want to pick and trade if you can do those, not only $1-2$ per session that you will get --this was mean that the high amount you risk the possible high of good return that you will take.

globalpain

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Quote from: livingfree on December 25, 2021, 12:15:22 AM

Quote from: Sihab76 on December 24, 2021, 07:43:51 PM

It is completely foolish to expect from trading that there will always be profit. There are two aspects to every training, on the one hand if you expect profit and on the other hand you have to prepare for losses. Moreover, only extra knowledgeable people get profit from trading.

It's not foolish to expect profit in trading if you've been trading for long and you've been making a profit most of the time.

But this is where the newbies got misled. When they've just heard about trading and profiting, it makes them think that if they trade too, they'll make money easily.

What must be realized that trading is not something that is easy to do it is full of risks,
especially if we do not have the knowledge and skills of course it is not recommended to immediately start trading,
better learn and understand related to trading

taufik123

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Quote from: livingfree on December 25, 2021, 12:15:22 AM

It's not foolish to expect profit in trading if you've been trading for long and you've been making a profit most of the time.

But this is where the newbies got misled. When they've just heard about trading and profiting, it makes them think that if they trade too, they'll make money easily.

and they have not been educated about the losses that will overshadow them when trading without any knowledge.
Taking profit on every trade is a must. It depends on what trading strategy is used.

If beginners only buy and then sell when they are profitable, of course they will panic when the price continues to fall.

Initial knowledge about trading must be really mastered, don't just be tempted by the profits, the losses that will be experienced will also be there. The risk is the responsibility of each.

martina14

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Quote from: Zilon on July 27, 2021, 01:39:52 PM

It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.

Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.

As long as you have a passion to do crypto trading, so I think 1$-3$ is it doesn't matter, the important is you earn daily that amount of money by doing it. But to be honest, at this situation now, day trading is too risky to apply, unless you know the movement of the price in the coins you are trading it so far. But if not, your assets may be loss in the end and 1$-3$ is not that bad at all actually.

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