Taking profit is awesome!!
Topic: Always take profit - page 9. (Read 1267 times)
Same advice I give every young traders coming into the game to alway do, it is safer to fall back to stable coins you could acquire every buying point than waiting for a particular point entry from your last purchase. I do advise profit thefts.
Taking profit is awesome!!
Taking profit is awesome!!
Yes that's a good advice to take profit no matter how big or small it is but of course since you've talking about profit also to remember to do the same during losses, if you lose 3-5 it's time for you to stop. Remember to always consider a risk/reward ration whenever you are doing your trade.
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.
Depends though, what if it's the last leg of the run and the incoming graph is steadily going down? I would probably go down and take that profit and just go back in the market when it's on the most absolute or assumed absolute bottom. But if it's not the case that I am talking about, then you are right that we shouldn't take that profit since it's not that much.
OP has not accounted for trading fees, and losses from other trades. It’s also very simple and easy to look at a graph, and say that “this is what we should to do”, without actually accounting for everything. But only 10% of active traders are truly profitable in trading. That’s a fact.
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.
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.
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.
Depends though, what if it's the last leg of the run and the incoming graph is steadily going down? I would probably go down and take that profit and just go back in the market when it's on the most absolute or assumed absolute bottom. But if it's not the case that I am talking about, then you are right that we shouldn't take that profit since it's not that much.
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.
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.
If you’re trading under-capitlaized, and take profit with a very small amount like $1.00 or $3.00 repeatedly, you will not profit enough money. You will actually LOSE money, because how much trading fees are you paying for repeatedly “taking profit” for $1.00 or $3.00?
That should always be part of your system, knowing when to take profits after those fees, though it's hard to discipline yourself taking that small amount in each position that you take with your trading practices.
But if you do have good system and you mostly success from this strategy, better than nothing is that what they say
If you’re sufficiently capitalized, and your net profit after losses is enough to trounce the trading fees, then do it. For me personally, I’m merely a pleb, and I’m also a bad trader, although I studied and researched about it when I was starting in Bitcoin.
...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...
This profit size is too small and it may not be covered by the exchange commission. Thus, you can get not a profit, but a loss. You definitely need to take into account the exchange commission, which depends on the amount of trade. Thus, from my experience, I see that the commission on my orders on the Binance exchanges is more than $20 for each order.
I completely agree with you, an experienced trader, always knows and understands when to take profits, many because of greed do not take profits and relying only on their instincts or emotions continue to trade with great risks, as a result, big minuses go away. Taking profit is one of the most effective strategies for making money for a trader.
In Russian language there is such phrase as "rat race" which perfectly describes "taking $1-$3 daily profit". It is like doing lots of actions during a whole day just to take several dollar profit. I would not do it, because the time cost more than this several dollars.
You can throw a stone in me, saying 1 dollar is always a dollar and is better than nothing. I agree, but I would not take several dollar daily profit out. Instead, I would reinvest it. Because you can always get this couple of dollars from "solving captcha or micro tasks".
You can throw a stone in me, saying 1 dollar is always a dollar and is better than nothing. I agree, but I would not take several dollar daily profit out. Instead, I would reinvest it. Because you can always get this couple of dollars from "solving captcha or micro tasks".
It's obvious that taking profits either thru day trading or short-term hold within the range of $1-$3 won't yield a good profit in the long run.
You also have to consider that you need to monitor your trading activity all day long to somehow get your daily target at best.
It's really a must to take as profits as possible but you can play with your strategy for there for a much higher target rather than secure a $1-$2 profit. A range of $20-$30 would do. If there's no such price movement on that range, test another level like $10 to $20. If still the same, then patience.
You can rank price higher than time, that is, long-term investment, whose secret is to buy low and sell high, to invest regularly, hold for life and befriend time.
Or you can choose to rank time higher than price, namely, short-term trade. Its key point is to reduce transaction fees, pay attention to capital and position management, be disciplined in stop-profit and stop-loss and rival against human nature.
Or you can choose to rank time higher than price, namely, short-term trade. Its key point is to reduce transaction fees, pay attention to capital and position management, be disciplined in stop-profit and stop-loss and rival against human nature.
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.
Why so much of a challenge, just see the price if it has become bigger than buying price and sell at that time.Quote
Have you considered taking profits of $1-3$ repeatedly throughout a trading session
Have you considered the average trading fee for selling on a possible profit of 1-3$? Chances are that the fee is higher than the profit.Quote
If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.
Though that sounds like a get-rich-quick person's mentality. If someone has a point for putting their money on a specific cryptocurrency, they are obviously looking for bigger gains and not 1-3$. Of course the 1-3$ profit might itself be a huge amount if the coin that you have not specified is a shitcoin that averages on a price in cents/shitcoin. 
If you talking about bitcoin trading then this is a wrong method. For altcoins, I cant say because I dont deal with them.
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.
If you’re trading under-capitlaized, and take profit with a very small amount like $1.00 or $3.00 repeatedly, you will not profit enough money. You will actually LOSE money, because how much trading fees are you paying for repeatedly “taking profit” for $1.00 or $3.00?
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.
Should have stated taking profits into percentage instead of specific values since everyone has different entry values. Though if you were for real about taking profits of $1 to $3 even with a high entry value, then that's a pretty bad trade ngl. Taking profits in 1% should be the same as around $1 I suppose, though I'd take quite a bit more risk when I'm going to invest higher amount. I'd actually recommend to a beginner to at least not lose out on his/her trades when starting out. At the very least, break even. hero member
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It is not easy to enter with good entry because we never know if the price will drop after buying. Many traders have those experiences and feel desperate waiting for when the price will rise again. But once the price can increase more than the price they bought, they do not profit from that instead of waiting for a more high price that they can not always get.
I considered taking profits of $1-$5 repeatedly than waiting for $100 for a long time because I think I can make a big profit with that small profit if I keep trying. But that will not work for all traders because they will have their own strategies and know what they do.
I considered taking profits of $1-$5 repeatedly than waiting for $100 for a long time because I think I can make a big profit with that small profit if I keep trying. But that will not work for all traders because they will have their own strategies and know what they do.
Taking $1-3 is not bad. I mean, I usually take out profits like when it hit ny goal % profit. For example I have traded $500 and had a good entry. I just set goal profit at 10% of my fund or bank roll then take that out.
When I was a starter, I am doing that like every $2 i took out profits and re entry again but its not that effective all the time and fees will just eat that up in margin trading. However, doing that in usual trading is still a good strategy. Accumulating $1-$3 a day and save it up for weeks will result to huge profit.
we can calculate the profit every month, if the total profit can reach 30%, I think this needs to be continued, because in my opinion it is a good decision, don't let us wait for hundreds of percent profit in a short time, unless there will be a pump we know it When I was a starter, I am doing that like every $2 i took out profits and re entry again but its not that effective all the time and fees will just eat that up in margin trading. However, doing that in usual trading is still a good strategy. Accumulating $1-$3 a day and save it up for weeks will result to huge profit.
Taking $1-3 is not bad. I mean, I usually take out profits like when it hit ny goal % profit. For example I have traded $500 and had a good entry. I just set goal profit at 10% of my fund or bank roll then take that out.
When I was a starter, I am doing that like every $2 i took out profits and re entry again but its not that effective all the time and fees will just eat that up in margin trading. However, doing that in usual trading is still a good strategy. Accumulating $1-$3 a day and save it up for weeks will result to huge profit.
When I was a starter, I am doing that like every $2 i took out profits and re entry again but its not that effective all the time and fees will just eat that up in margin trading. However, doing that in usual trading is still a good strategy. Accumulating $1-$3 a day and save it up for weeks will result to huge profit.
"Always take profit" is pretty much the exact opposite advice any rich person will give you. Whether you talk to Warren Buffett or Michael Saylor, they will both tell you the way to wealth is to buy good assets and never sell them. If you need money you borrow against your good assets (as both did by selling shares in publicly traded companies). Always taking profit sounds like a trader's desperate attempt to capture some gains after suffering many losses. In that scenario, the real winner is the exchange taking your money each time you make a trade.
Always is wrong but taking profit in each big bull run is good. We invest to take profit, not to hodl bitcoin or any altcoins forever.If Bitcoin rises from under $20k to $64k and I don't take profit, I should regret it. However, have an approach to take profit, I might possibly take profit at price lower than $64k. It can be $40k, $50k but if I take profit, I will feel happy with it.
If I take profit at $50k, I will buy back at $40k. Even I can not buy at bottoms under $29k, I feel happy with my buy back, because I have more Bitcoin.
"Always take profit" is pretty much the exact opposite advice any rich person will give you. Whether you talk to Warren Buffett or Michael Saylor, they will both tell you the way to wealth is to buy good assets and never sell them. If you need money you borrow against your good assets (as both did by selling shares in publicly traded companies). Always taking profit sounds like a trader's desperate attempt to capture some gains after suffering many losses. In that scenario, the real winner is the exchange taking your money each time you make a trade.
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