do not exceed your targets | Bitcointalksearch.org

ZAINmalik75

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Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

I am agree with you that btc price will increase once again but we don't know how much time it will take to reach again 30k. It is good to set goals from the beginning that how much profit will be good for you. Actually it was your sixth sense telling you that in this place you should take profit and wait for dip to make another entry But you fell into temptation and lost opportunity to sell at 30k.

If you were a trader, you would know that I can't do much more than that but you just trusted on holding. I will recommend everyone to learn some trading also to get more Profit in these up and down situation. if you have good fund then 50% should be used for holding using DCA while other for trading.

cydrix

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Having a target is one of the finest methods; the optimum target is to hold for a longer period of time, but short targets aren't bad either. I don't blame you for being a little spoiled when the cost of living increased. Sometimes I think that if we set a goal, we can at least tweak it to gain more if the amount of money invested isn't too high to cause a problem if it fails. However, it is preferable to withdraw the funds as soon as the goal is reached if the money is intended for a specific use and was invested in bitcoin with a challenging target.

pawanjain

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Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

I'm saying this because of some people who may have a target, it is important for them to hodl to their target and not be carried away by the increase of price of the market. The market can never be predicted, hold to your target and never be too greedy to make more profit. There is another day for another profit. This is important for people who have been patiently waiting for their target .

Let me tell you something. Profit booking is not everyone's piece of cake. Only the wise ones can book their profits consistently.
Most of the other traders generally wait for higher price and eventually sells at lower prices and book lower profits.
In fact, many people sell at a loss and keep waiting to buy back. But what you say is true. We do need to book our profits at our targets.
We should control our greed and execute our trades as per the strategy we have planned. Patience is the key.

touseefahmad1999

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Thank you for sharing your experience in the previous bull market. Indeed, setting a target and sticking to it is an important strategy for traders and investors to minimize their risk and maximize their profit potential. It is easy to get caught up in the excitement of a rapidly rising market and become greedy, but this can lead to making impulsive and emotional decisions that can be detrimental to your investment.

As you mentioned, the crypto market is unpredictable and can fluctuate rapidly. It is important to have a clear strategy in mind and follow it consistently, rather than trying to time the market or chase after quick gains. This can involve setting price targets, using stop-loss orders to limit your losses, and diversifying your portfolio to mitigate risk.

In addition, it is important to do your own research and stay informed about the latest developments in the crypto market. This can involve following news sources, keeping up with industry trends, and staying aware of regulatory changes that can impact the market.

Overall, patience, discipline, and a clear strategy are key to successful trading and investing in the volatile world of crypto

Questat

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Quote from: Luffygroove on April 25, 2023, 12:02:52 AM

That's code for "be disciplined with yourself" or "don't let your emotion take over" or "don't be greedy; that greed could screw you." It's a cliche, I know, but I believe it's worth the effort. You can't make a decent choice if you're plagued by uncertainty, and greed will lead you there. To survive and succeed, we need nothing more than a level head. Yes, I've been through this a lot and am still working on getting past it. My guiding principle is to "seize the day," which in the context of investing means "wait for the bull run, sell when it reaches ATH, and forget about it."

But unfortunately, most of us are emotional and yes, greedy. That is why we could see that people usually ask what happen to crypto now. Why did the price drop? It is absolute to say that people are in a hurry of making themselves rich and so they never follow what is in their plan instead, they follow their emotions and unrealistic target.
There is no way to gain success if we fail to follow our simple plan and with all investment, the same scenario is able to see.

CryptoHeadlineNews

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Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

I'm saying this because of some people who may have a target, it is important for them to hodl to their target and not be carried away by the increase of price of the market. The market can never be predicted, hold to your target and never be too greedy to make more profit. There is another day for another profit. This is important for people who have been patiently waiting for their target .

That's a very good advise you just mentioned as stated above, because if I could remember, the last time Bitcoin had a price of $21k per BTC was 4 months ago (December 2022), which means if only had you invested a whole 1 BTC, by now you should have made a profit of over $6k since the current price of BTC is $27k. But however, I'm sure if Btc could break this $30k resistance, it will likely hit another high price of the least $40k in few months from now. Because from this action of yours it clearly shows you are one person who truly believe in Bitcoin.

Luffygroove

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That's code for "be disciplined with yourself" or "don't let your emotion take over" or "don't be greedy; that greed could screw you." It's a cliche, I know, but I believe it's worth the effort. You can't make a decent choice if you're plagued by uncertainty, and greed will lead you there. To survive and succeed, we need nothing more than a level head. Yes, I've been through this a lot and am still working on getting past it. My guiding principle is to "seize the day," which in the context of investing means "wait for the bull run, sell when it reaches ATH, and forget about it."

Oceat

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Quote from: Kasabus on April 24, 2023, 08:28:52 PM

Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

I'm saying this because of some people who may have a target, it is important for them to hodl to their target and not be carried away by the increase of price of the market. The market can never be predicted, hold to your target and never be too greedy to make more profit. There is another day for another profit. This is important for people who have been patiently waiting for their target .

It’s a certain fact that people decide to invest not only because it’s their passion but mostly because of their greed. But if it reaches the point when your greed is highly uncontrollable, that will only lead you into possible losses than to reap your future profits. That’s the reason why we should always stick to our target goals, and not be carried away by greed. After all, when you decide to sell at a good price, you are already making profits. So just buy back again when the price drops sharply so you can enter the market at its perfect timing.

Exactly!

Exceeding your price target will disrupt your will to and instead you will try to hodl more waiting for the price to grow without knowing and how dangerous it is waiting without considering the possibility of it going down. That's the danger of being greedy you will expect more instead of getting that desired profit which is more than what you gain when the the price would suddenly drop.

I hope everyone don't make the same mistake as what the OP did and I know some of them already did made a mistake but it's about time they have to correct it once they meet again with their price target.

Kasabus

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Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

I'm saying this because of some people who may have a target, it is important for them to hodl to their target and not be carried away by the increase of price of the market. The market can never be predicted, hold to your target and never be too greedy to make more profit. There is another day for another profit. This is important for people who have been patiently waiting for their target .

It’s a certain fact that people decide to invest not only because it’s their passion but mostly because of their greed. But if it reaches the point when your greed is highly uncontrollable, that will only lead you into possible losses than to reap your future profits. That’s the reason why we should always stick to our target goals, and not be carried away by greed. After all, when you decide to sell at a good price, you are already making profits. So just buy back again when the price drops sharply so you can enter the market at its perfect timing.

loopes

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Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.
I'm saying this because of some people who may have a target, it is important for them to hodl to their target and not be carried away by the increase of price of the market. The market can never be predicted, hold to your target and never be too greedy to make more profit. There is another day for another profit. This is important for people who have been patiently waiting for their target .

This will be a trading plan that every trader must be critically to set up. After reaching the target it will be better to sell so it will avoid a fail or distraction on your trading plan. If you can see more potential statistic to get more profit by volatility of bitcoin price then right away to analyze next trading plan to do.

Smartvirus

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Quote from: Y3shot on April 21, 2023, 05:32:46 AM

I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase, but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

It's always a good thing to make plans and actually follow them. Without plans, it's so easy for one to lose its course. Plans are the only thing that helps one to stay in line and avoid unnecessary regrets. Good enough, the bitcoin market is one that its volatile nature could be overcomed by having enough patience for the market to bounce back to a desired price.

Hodling is always your asylum in an unstable and unpredictable market. It's not a bad idea to always change the plan to hodling after you have faulted it. You'll always better off hodling than trying to profit at every price shift.

_BlackStar

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Quote from: Ziskinberg on April 24, 2023, 07:15:04 AM

The plan is easy to create but following it is somewhat difficult for a person who has doubts inside and of course when our minds got easily manipulated by FUDs and negativity.

Some people get so greedy that they fail to follow their original plans. I might never think it went completely wrong ^{[especially if they were holding bitcoin],} but they missed a good opportunity to take profits when the target was hit.

Consistent with the initial investment plan is a good choice, but it is always possible to get them to start changing the plan once they find out that the potential price of bitcoin is much higher than they expected. The OP has most likely realized that bitcoin will be very expensive if ATH is not reached after the 2024 halving, so he need not worry even if he failed to take profit on the previous target.

drwhobox

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Quote from: Questat on April 24, 2023, 04:33:33 PM

It means that we have to set our goal as somewhat realistic. Unfortunately, the mentality of the people usually makes it fail because at the moment that the price goes high, they then started thinking maybe it rises more than our preferred price of selling so I still hold. Not bad isn't it but in this case, we already make our goal ruins. Because I see that it was hard to follow our plan if we are also emotionally stressed and greedy, it was hard to stay on our targets when our mind never focuses on it but instead, we got influenced by news and rumors around.

That's why keep your emotions and greed aside while trading bitcoin. If you lose focus it will make hard lose for you, so keep your focus intact and don't fall for greed.
I always try to make a realistic plan and when my price hits I sell my coins, not less not more. Holding is the key while trading bitcoin, and also investing money in bitcoin for a long time, short investments do not work here.

Questat

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It means that we have to set our goal as somewhat realistic. Unfortunately, the mentality of the people usually makes it fail because at the moment that the price goes high, they then started thinking maybe it rises more than our preferred price of selling so I still hold. Not bad isn't it but in this case, we already make our goal ruins. Because I see that it was hard to follow our plan if we are also emotionally stressed and greedy, it was hard to stay on our targets when our mind never focuses on it but instead, we got influenced by news and rumors around.

Smack That Ace

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Quote from: Ziskinberg on April 24, 2023, 07:15:04 AM

Quote from: Awaklara on April 21, 2023, 11:10:53 AM

therefore it is important for you to manage your investment planning from the start. I mean if you have a plan to sell an asset at a target price, then you can stick to it. but if you have a plan on a time target or the accumulation of the number of assets you have, you also have to be consistent about doing it. this will not be easy for a beginner, but it will be profitable for those who manage to stay consistent with what they planned from the start.

The plan is easy to create but following it is somewhat difficult for a person who has doubts inside and of course when our minds got easily manipulated by FUDs and negativity. Like we usually said that we hold until the next ATH or bull season but when short pumps come out, we are also in a hurry of selling them taking the opportunity. In this situation, we broke our plan already and I was sure that it never go that easy and be out of the course of our plan as it was been twisted already, no way to that think we are able to fulfill our plan in the end.

I believe most of us have plans as well as goals when investing, but you are right, planning is not difficult, but executing it is really not easy. I also believe that OP's mistake is not only in newbies but even old people, and professionals who make the same mistake. Simply because we all have greed and we can't always successfully control it. Honestly, I still made that mistake even though I restrained myself many times to stick to the plan, but it was tough.

Ziskinberg

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Quote from: Awaklara on April 21, 2023, 11:10:53 AM

therefore it is important for you to manage your investment planning from the start. I mean if you have a plan to sell an asset at a target price, then you can stick to it. but if you have a plan on a time target or the accumulation of the number of assets you have, you also have to be consistent about doing it. this will not be easy for a beginner, but it will be profitable for those who manage to stay consistent with what they planned from the start.

The plan is easy to create but following it is somewhat difficult for a person who has doubts inside and of course when our minds got easily manipulated by FUDs and negativity. Like we usually said that we hold until the next ATH or bull season but when short pumps come out, we are also in a hurry of selling them taking the opportunity. In this situation, we broke our plan already and I was sure that it never go that easy and be out of the course of our plan as it was been twisted already, no way to that think we are able to fulfill our plan in the end.

traderethereum

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Quote from: summonerrk on April 23, 2023, 11:29:59 AM

Quote from: traderethereum on April 23, 2023, 07:33:32 AM

Many people get greedy when they see the profits they can get increase rapidly and want to chase bigger profits.
But we often forget that quick profits can decrease as the price decreases because usually, after the price reaches a temporary high, the price will decrease again.
That will keep us from taking profits and even experiencing losses but as long as we can still survive when the price decreases and are patiently waiting for the price to rise again, we can make a profit.
But we have to wait until the price can reverse direction and reach high prices again.

Patience in cryptocurrency is already half the success on the way to a good profit. Look at the price of Bitcoin for example, it always rises sooner or later. This means that the whole question remains: how low can you buy Bitcoin.
Everyone has a goal - it's profit. But you need to be an adequate person and understand that you cannot earn x20 x50 x 100. Cryptocurrencies are not roulette, but a painstaking process with many small goals.

That's why we must have a target in determining when we can buy and sell.
Most people keep holding on to their bitcoins when the price increases because they still want bigger profits, even though it can't always happen.
And when the bull run or altcoin season arrives, they have to decide whether to sell their high-rising coins or keep them on hold.
Sometimes it becomes a dilemma for investors who do not have a target selling price but have to decide because otherwise, they will have to wait a few more years to see the price of the coins increase again.

Anguwa

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You are correct. The cryptocurrency market is volatile and unpredictable, so the best course of action is to stick to our target and take the small profit we have. OP, most times, greed causes us to exceed our target because we will think that if we leave the coin due to the market condition at that time, the price will rise above our target, but it always turns out the other way around.

DiMarxist

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You don't have to set target to purchase bitcoin. It is good you purchase on the bear market and anytime when price goes up and you decide to sell it, that is left for you, and if you don't want to sell it all the same. But whereby you place target on your investment, my brother you will be disappointed because the price is not stable in one place. And always remove your mind from your investment and stop checking tradingview.

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Quote from: traderethereum on April 23, 2023, 07:33:32 AM

Many people get greedy when they see the profits they can get increase rapidly and want to chase bigger profits.
But we often forget that quick profits can decrease as the price decreases because usually, after the price reaches a temporary high, the price will decrease again.
That will keep us from taking profits and even experiencing losses but as long as we can still survive when the price decreases and are patiently waiting for the price to rise again, we can make a profit.
But we have to wait until the price can reverse direction and reach high prices again.

Patience in cryptocurrency is already half the success on the way to a good profit. Look at the price of Bitcoin for example, it always rises sooner or later. This means that the whole question remains: how low can you buy Bitcoin.
Everyone has a goal - it's profit. But you need to be an adequate person and understand that you cannot earn x20 x50 x 100. Cryptocurrencies are not roulette, but a painstaking process with many small goals.

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