I'm not a day trader but as I sell in profits, I prefer that measurement in the amount of profit that I can get. I don't measure usually with % gains as that doesn't look high for me.
Although as I sell during profits, I'm making sure that I'm very well satisfied and won't be feeling bad if after selling, the price of bitcoin goes higher. As they say, profit is profit so take it.
Topic: Best taking profit techniques to maximize gains out of the upcoming blow-off top - page 2. (Read 152 times)
September 07, 2021, 06:11:58 PM
September 07, 2021, 05:54:52 PM
On the spot market. I usually sell off my bags on known resistance levels like the recent one at $50K to 52K and buy back after the market has rebounded on a lower support level. Many expected a breakout including me but when the momentum dropped I realized it was time to exit and my instincts were spot on this time rounds.
My stop losses are usually somewhere slightly below a strong support level if a market dump catches me still holding the bags.
My stop losses are usually somewhere slightly below a strong support level if a market dump catches me still holding the bags.
September 07, 2021, 09:07:53 AM
I'm planning to follow what's left of the bull run with a ATR based trailing stop.
I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
Sell when you see the profits or just hold until your price arrives because the goal of a trader is to make profits but trading depends on our needs and wants so it can be a long term or short term trading.I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
There is no 100% guaranteed strategy since it changes time to time and every seconds so only the trading becomes profitable with our skills and experience.
September 06, 2021, 04:42:30 PM
I'm planning to follow what's left of the bull run with a ATR based trailing stop.
I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
Always set your target price so you can know the answer to this one, if you prefer a profit for a least 10% - 20% then go for it, don’t be greedy waiting for more profit just trade accordingly and always commit on that, same thing for cutting your losses. The market is getting better now, start planning on what to do when we reach the top again. I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
September 06, 2021, 04:24:44 PM
I'm planning to follow what's left of the bull run with a ATR based trailing stop.
I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
My plan is to sell a % of my portfolio every time price makes a new high. The goal is to continously sell a bit of it every time a new all time high or even just a higher high is achieved. Anything sold is immediately converted to a stablecoin (most likely USDT) and hold. But the strategy doesn't work all the time. Still needs more research and experiments. For instance, I sold some BTC at $18K in 2020 thinking it would dump back to $14k similar to 2017 bull run but I was wrong. While I ended up with same amount of dollars, my portfolio value in BTC value was diminished to bare minimum as price broke $60K.
September 06, 2021, 03:38:23 PM
Previously, it looks to have been possible/a good idea to sell an ath that starts to stabalise before in this bull run and I think that still counts for something.
The final blow off peak, you're not going to be able to be very accurate at all. Just be happy with whatever profits you can pick up and see if you can keep moving your trailing take profit to just below resistance or sell when you're comfortable.
I think I watched the order books for about an hour in 2017 and they were quite impressive, I'd recommend not waiting until they look impressive to sell though (rises and drops of a few % in a few minutes).
The final blow off peak, you're not going to be able to be very accurate at all. Just be happy with whatever profits you can pick up and see if you can keep moving your trailing take profit to just below resistance or sell when you're comfortable.
I think I watched the order books for about an hour in 2017 and they were quite impressive, I'd recommend not waiting until they look impressive to sell though (rises and drops of a few % in a few minutes).
September 06, 2021, 03:28:21 PM
I'm planning to follow what's left of the bull run with a ATR based trailing stop.
I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
I heard some traders prefer to sell a % of their bags based of the % in the price increase.
Anyway, what's your plan for the upcoming weeks and months?
Jump to: