Topic: Always take profit - page 8. (Read 1267 times)
As i say you should take a small profit but that should be profit. And try to save yourself from loss as much as you can because whenever there is a change in market there would be some profit or loss and at that situation you should take even a small profit but don't be in loss.
Profit is profit and this what matter most but we should consider on how much fee would be deducted out of those profit.Try to see if its feasible or sensible to do so because we cant really just make out
close orders too fast and just like what others been saying about the fees which is definitely true.You cant just earn $1 in whole amount if you are tending to make some sell.
Platforms or exchangers do have specific fees on every actions you would make.
close orders too fast and just like what others been saying about the fees which is definitely true.You cant just earn $1 in whole amount if you are tending to make some sell.
Platforms or exchangers do have specific fees on every actions you would make.
Taking profit is a good choice when you're new to the trading practice. Little by little you need to try to take back the capital investment amount. When it comes to trading you need to take risks, because taking away the profit and leaving the capital could diminish the profit rather than increasing the profit. If the profit is reinvested, depending on the market progress you'll be profited. Everytime market changes won't happen as we predict. We need to be active and increase the holdings, which is the basic through which one can profit while the market turns bullish.
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.
From reading all of the posts, I believe many people who replied in the topic has not tried to trade very seriously, or doesn’t keep a record of their trades WITH the accompanying fees after each buy and sell made in an exchange. It will honestly be hard to take those people seriously.
they didnt thinking about how much risk taken for only $1 profit and how much fees will spent . 
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.
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.
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 considered everything as long as I got profit all the time, but it came out that regretful when I reviewed all my previous tokens. The situation went so frustrated as I saw it raging around $0.12 in price, yet I bought it through cheap value at around $0.02 last year. What makes me more emotional, is the increasing value of my past tokens which I failed to hold just for quick profit that I put into urgency.
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.
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.
Matter of fact, taking profit doesn't only applies to the traders, it involves the hodlers too. Hodlers should try and be applying profit taking in every of their investments. After all, doing so won't kill as you probably would have locked-in little gain.
For example, if you invested on a project with 10$, and the project shoot up to 30$, lock-in 20$ and try to leave the remaining 10$ worth for short/long term. By doing this, you've taken profit and still an investor on that particular project.
In respective of whatever trade you're taking or investment you're buying, embrace taking profit so as not to lose it all.
✌️
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.
Keeping your trades less risky with low profits margin and investing back the profits you made again into your next trade can theoretically can make more profits in paper but how long you can be doing 100% perfect trades?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.
You can never exit that trade at perfect point because it relies on the future cryptocurrency price movement.
From reading all of the posts, I believe many people who replied in the topic has not tried to trade very seriously, or doesn’t keep a record of their trades WITH the accompanying fees after each buy and sell made in an exchange. It will honestly be hard to take those people seriously.
This is what i had observed and if they are just too active on doing making some pull or securing profits on $1-2 profit then it isnt really worth on doing that since maker and taker fees could really be hurting once it would be accumulated that for a long period of doing constant buy and sells.You would really be finding that you
are losing that much instead on making profits.
You might be looking that you are in positive but once you do check out your portfolio or balance then you would able to realize that you are definitely doing wrong
or really that too much active without minding the deductions.
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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.
Actually that's a bit of "okay" already for me when converted to my local currency. I only got cents when I day traded back and never got into single digit, but if I could have build that 1-3 USD, I might have focused into trading more than in my job but I know that is a bad decision. 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.
From reading all of the posts, I believe many people who replied in the topic has not tried to trade very seriously, or doesn’t keep a record of their trades WITH the accompanying fees after each buy and sell made in an exchange. It will honestly be hard to take those people seriously.
Knowing when to enter or trade is not as easy as you think it is, even without the right strategy you might still end up buying at the high price, taking profit is always kinda difficult since emotions are normally involved, you might find it hard to take profit cause you feel like the market might continue pumping and you might gain more if you if still hold that position, taking a $1 profit isn't a great idea either, although I know it depends on the capital used for that trade, but taking $1 profit just doesn't seem right,
I completely agree with you on that $1 take. It's quite a wastage of time to take such small profits and call yourself a trader. I can understand if the market was crashing and you took small profits hurriedly in fear of losing everything but you cannot just set goals of earning $1-2 from trade because it's just a waste of time and one shall find something better in life. It is much better to work for some bounty campaigns and put your efforts there to get a much better chance of earning decent tokens. In fact, there are many service seekers who will pay a few bucks for a basic hour-long task or even less.
Refusing to take profit has really ruined some traders, most times jumping into a trade isn't t the most important, our greed blinds us from seeing that a trade has made profit and that we should leave the trade, instead we keep chasing more profits. Just like holding a gold and keep picking stones. As a good trader we are supposed to trade with target and when our target hit we exit trade, to be a successful trader greed shouldn't be part of us.
Several times I missed the opportunity to get profit, because I was delaying to take profit, because I think the price of the coins can still go higher.
It turned out that unexpectedly the price suddenly dumped, and that's because I'm too greedy to get a bigger profit. I agree we have to trade according
to the plan we have set from the start, this means that if the coins we have bought reach the sell target we want, immediately sell the coins.
So that we don't lose the opportunity to get profit, we really have to be disciplined when trading.
Refusing to take profit has really ruined some traders, most times jumping into a trade isn't t the most important, our greed blinds us from seeing that a trade has made profit and that we should leave the trade, instead we keep chasing more profits. Just like holding a gold and keep picking stones. As a good trader we are supposed to trade with target and when our target hit we exit trade, to be a successful trader greed shouldn't be part of us.
Market movement is not always remain same some times price of few currencies go up and sometimes go down but problem is that who have no good knowledge about bitcoin or crypto market thay always remain in loss situation. When price go up then they buy and when price of that currency go down they afraid and sell that currency by the way they make loss. So for those who make loss like that way take profit is a good solution for them because where market goes i don't care i just want to make certain profit from the market. So I think always take profit is applicable for those people.
That's depend how strong mentality you have belong. At the end of the day, it's your decision whether you choose to take loss or take profit. As far as I might be concerned, I really like to take out benefits. Assume you get a coin with a daily/weekly movement of 5/10% ups or down then trad it's lows and highs. You can easily gain a smart profit per trade and you can win big over time.
Market movement is not always remain same some times price of few currencies go up and sometimes go down but problem is that who have no good knowledge about bitcoin or crypto market thay always remain in loss situation. When price go up then they buy and when price of that currency go down they afraid and sell that currency by the way they make loss. So for those who make loss like that way take profit is a good solution for them because where market goes i don't care i just want to make certain profit from the market. So I think always take profit is applicable for those people.
Knowing when to enter or trade is not as easy as you think it is, even with the right strategy you might still end up buying at the high price, taking profit is always kinda difficult since emotions are normally involved, you might find it hard to take profit cause you feel like the market might continue pumping and you might gain more if you still hold that position, taking a $1 profit isn't a great idea either, although I know it depends on the capital used for that trade, but taking $1 profit just doesn't seem right,
For big traders and investors i think this is easy to gain profit 1-3$ from any token. But i think they did not think this little profit as they invested huge for batter profit. Yes you are right here that only for new investors can take a chance of it and i think they have to wait whole day in exchanges for spot profit as they have little experience in crypto. overall its good decision to think for profit always.
2$-3$ is very small profit and i strongly believe that even a new user will not agree to stop the trade with only 2$ profit. Good news like new listing,new partnership,mainnet launch,Hard forke , these are some news which can increase the orice of token from 20% to 100% easily. 10% i think is minimum investor want profit.
Maybe if we use scalping trade, getting $2 as profit will be good as we can repeatedly trade with fluctuating of the price. But if the market is not moving significantly, I think taking profit for $2-$3 is good as you can search for another chance to make more profit. But every trader will have their own target profit that they want to reach. Maybe @OP is saying that for himself but we have different amounts of profit that we want to achieve. snipped~
Th is is exactly what I have been doing nowadays because all I wanted is to become happy and satisfied, and not being greedy. I have already learned it from my past mistakes where greed leads me to failure in profiting in most of the coins and tokens (especially shitcoins). I’ve lost a lot to be honest due to being greedy.
Right now I have a new habit. When it’s profit no matter small or big, I would go “TP” mode and now I am on the road of recovering some losses that I have in the past.
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