Always take profit - page 10. | Bitcointalksearch.org

OcTradism

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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.

Taking profit has two types
- Taking profit from Bitcoin or altcoins to stable coins or fiat currency but you are waiting to join the market again. It is risky. Because if you rejoin the market when the trend flips from uptrend to downtrend, you might lose your profit.
- Taking profit from your Bitcoin or altcoins and use it to buy real asset: cars, real estates, etc. It has less risk. At least you own something in your hands, for your life, and you buy it from your real money, not from loan. They are liabilities, someone will argue it but those liabilities give you real use cases and have less risk of value loss than cryptocurrency.

In bear market, cryptocurrency can lose 90 to 99% of its all time high values.

Quote

Have you considered taking profits of $1-3$ repeatedly

It is not necessary because you will end with nothing if you deduct trading fees on exchanges.

Twinscoin2017

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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.

Small profit and big profit is the same profit. As long as we earn for me it doesn't matter, because I believe that it is more better than losing. The point here is the benefit even if earn small but we also get experience that we can use in the near future for us to become a best trader so there is also a big benefit even if we only earn small amount.

lightning0

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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.

Yes, I have a deep understanding of what you said about the transaction. There will be a period of continuous profitability. At that time, I think it is really easy to make money. It will not take me long to realize the freedom of wealth. This kind of mentality makes me lazy, even in the days when I don’t check my account for a few days and I have the winning ticket.

Until one day I saw a message stating that Bitcoin fell 30%, which was stupid. The previous profit was not well understood and raised, and even the principal was swallowed. This cost me a lot of money.

What you said is correct, no matter how much you have accumulated, you must settle the bill and put it in your pocket. Keeping vigilance on the market is the most basic attitude.

goaldigger

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$1 profit is not good honestly, it can only cover the fees so I’ll not take profit every time I make $1 you’d better adjust the time frame and your target profit, in cryptocurrency you can earn more if you are good enough to see good projects. I do take profit around 15% - 20%, that’s my short term goal every time I trade.

Mahanton

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Quote from: Hypnosis00 on July 27, 2021, 07:06:52 PM

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.

If you are new in trading, having this profit of $1-$3 per trade was a sign that you have the potentials and this will be the basis that you grow in the future. Like considering that you only have a small capital for trade this time that is why it was just a small profit you get it can be increased once you added more capital. It just only needs to sustain what we have done today while we are slowly topping up for more funds.

Doesnt matter if its just small because profit would be considered as a good job or simply you are doing good and it surely counts and that what matter most.
Im also a trader who do really mind of about taking profits but not really that too active considering about taker and maker fees which wont really be that
worth if you do see it on long term aspects but if you dont mind about those deductions then its your choice. $10-20 should be the minimum
but hey everyone doesnt have similar capital and position that had been made.

cabron

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Zooming in and zooming out on different time frames helps you decide when to take profit because when you see the trend on the bigger time frame, that's when you know which trend to be friendly with.

When you see that it's bearish on the weekly time frame, then you might as well be bearish on the daily time frame. Before it could retrace down, you could already sell.

Rengga Jati

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How much taking profit will depend on:
- Capita of the trading fund that we are using. If we only have no more than $50, taking a profit of 3-4$ is good enough for trading (daytrade). I also start with that small amount and getting 1-3$ was awesome for me at that time.
In fact, if we have more funds, we will also get higher profits, moreover, if we know the right coin and also time to buy and sell, we can get twice of our funds. 'however, trading is risky, higher capital, higher profits, and also higher risks.

However, right now, I will refer to a set target in trading, not really going to take profits highly because of the current market.
Never be greedy with the profits. As long as we have to get it several percentages, we can take profits.
And, we can also differentiate funds for daytrade, short term, and long term. So we will have still a chance to get other profits from other strategies.

Note: Different people may have different strategies, and may not fit the people also. So, basically, do research on your own strategy in order to really fit your trading skill and style.

Hypnosis00

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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.

If you are new in trading, having this profit of $1-$3 per trade was a sign that you have the potentials and this will be the basis that you grow in the future. Like considering that you only have a small capital for trade this time that is why it was just a small profit you get it can be increased once you added more capital. It just only needs to sustain what we have done today while we are slowly topping up for more funds.

sheenshane

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It's easy to say but in reality, it's hard to do it.
There's no such strategy that you will continuously be making a profit in trading most especially in short term trading, always bear in mind that there's no infinite winning while in trading, there could be a high chance that you will lose no matter how good you are in analyzing the market prediction when in fact, the market price is too volatile. In short, there's no guarantee that you will reach this target.

Quote from: Oilacris on July 27, 2021, 03:54:17 PM

I cant really blame of people on having that kind of behavior because even myself is a guilty of this because im not really that satisfied on looking $1-$3 gains and would really tending to secure it right away

If you could able to make this profit daily why not and that's a very impressive strategy that you are using. If you're willing to risk a big amount it might you will able to gain profit more than this, a big amount of capital will possibly gain big profit and of course small capital will also have a small profit.

Oilacris

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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.

No matter how small the profit it is then it would really be still a profit but due to being greedy of a person which i could say normal then we would always tending to go for bigger profit level or target.

I cant really blame of people on having that kind of behavior because even myself is a guilty of this because im not really that satisfied on looking $1-$3 gains and would really tending to secure it right away

but im really actively looking when it comes to possible retracement levels which if its starts to drop then thats the time i do close that order and secure profits in case.

taufik123

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Taking a profit of $1-$3 once in each trading session is too hasty strategy implementation. But it depends on how much capital you use. The scalping method may be very suitable. Making a profit on every trading session is the most important thing to do not to lose. Always take profits and use stop losses to stop losses.
The application of short term, mid term and long term strategies must be determined, because it will affect how much profit you will get.

Ararbermas

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Short term is so difficult and probably even me I'll be satisfied if i can make $1 to $3 every day or let say x2, it's enough i guess. Cheesy

especially if you don't want to trade a huge amount of capital despite of the situation wherein so volatile and unpredictable, so it would be a great amount of profits in my opinion because there's no choice. Lol

btw if you have a good skills in such situations of the market there's no way you can't obtain good profits in my opinion. but i suggest to trade with bitcoin or in any crowded crypto currency in the market because surely you can make good profits from it despite of the situation..

jossiel

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I haven't considered taking profit with the example amount of how much you should take in profit. That's low and others would think of the same because we're all for a decent profit.

Not that small but not that big as well but considerably to boast as a profit that we've made in trading. But you're right, profit is profit regardless of the amount you've taken than to take further losses.

Zilon

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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.

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