Topic: do not exceed your targets - page 2. (Read 412 times)

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.

Profit is profit, which one is holding because you have a target? Isn't that the same with having a Bitcoin 100k target in 2021 that got many wrecked? They aim for 100k pet bitcoin before they can start taking profits and 100k never came, they end up losing all the profits and now having to hold through another bear market, sometimes, holding can make you become so greedy, do not aim too high, have a doable positive point of taking profits, if your coin is already doing 10x in a bull market, it's the perfect time to start taking profits.

Do not be too greedy all in the name of targeting a particular price point, start taking profit when the bull run is ongoing, most times our price target is just a dream, you won't lose a thing taking profits but you will lose if you fail to take profits.

Or maybe be contented when you aim for something. Sometimes we are tend to become greedy and cancel our objectives due to hoping for more profits which ended up losing cause of the market situation. If you able to buy on 21k then sold at 30k thats a great profit already and we shouldnt regret what weve done. If ever it goes beyond then its still okay, cause profit is profit. Being able to live up with such discipline could attain more. Stop the emotions and being too greedy.

Having a definite target, all bitcoin investors really need, in the initial plan when they want to invest. And all of these plans or targets must be considered carefully from the start, don't set targets at random. Just like investing in bitcoin, it would be nice, before investing, we have to research and estimate how much price capacity bitcoin can achieve at this time. After finishing all that research, then determine the target price you want.

you are right about greed, greed in investing must be avoided, because it will be very dangerous to indulge in greed. because not a few people, who were going to get profits, but instead get losses, and it's all because of a great sense of greed. So it's true, in any case in this world, greed will lead to destruction.

And me personally, investing in bitcoin, my personal target is the upcoming bitcoin halving. Because from the start I had planned to invest for the long term, if I sold it continuously at this time, I was afraid I would get addicted and in the end I didn't feel that I had few bitcoin assets and my original plan changed. But if you invest in the short term, actually it doesn't matter, the most important thing is that there are still profits that you can still get. But my advice, it would be better for you to invest in bitcoin for the long term.

Greed is one major investment killer. If you set a particular target to be invested, in bitcoin for instance, stick to it. After the first sale or during the bull run, there might be increase in price and this could be a deadly trap for you to invest more money whereas, you cant predict the next sales price. It might still be more profitable and vice versa. So to be guided, you need to maintain you set target and be patience for another period of time.
Setting of target is always easy from the start of every investment but the difficult part is maintaining the standard especially when tempted with the profit.

Of course people have different perspectives where they will target separately where the final target will be hit and this is someone's strategy in investing and basically a strategy is really needed, maybe targeting a slightly excessive quantity in the near future is not effective because of course this requires a long term, maybe for those who are too target and until then they desire to exceed it is human nature or this is someone's ambition.

Every investor/traders should have a take profit plan for its portfolio, so as the price an asset keeps growing in value ,one will be taken out profit gradually out of the market, than keeping the whole stuff and waiting to take profit at once until when gets to a particular price level  before you could take out profit.  For me my profit taking strategy starts with as follows; 30%, 50%, 70% and finally 100% off the market, When there's a clear indication that the market wants to take a reverse. So with this strategy it has helped me not exiting market way too early than I should and to exit market way too late.

When the market getting a ride with market volatility and we recently see that the bitcoin dumps immediately make yourself prepare for this kind of instance not time the market will give you a huge amount of profit there's a time when the market will pull back in this time its good to have a well built plan and possible financial targets and goal for the late comers of the bull run last time this is good news for accumulate a lot of coins as soon as possible before the halving comes the history repeats itself and its already proven and tested. So set a plan and goal and make a chill and profit for your preparations.

OP, it's one thing to have a certain goal or target, and it's quite another thing to stick to that goal.
An ideal investor should thoroughly analyze the crypto market, and make rational decisions based on his analysis and concrete facts and not based on his emotions.
When a specific target is set, you simply need to stick to your decision and not change your mind.
If you allow yourself to panic because of the movement in the market, it is a sure way to ruin.
Based on my personal analysis of the crypto market, I have set my investment goals and have a clear exit strategy. At the same time, I have invested in several different asset classes and am waiting for what will bring me the desired profit.

It is more safer to hold as long as the bull trend is still strong and full. Buying at $21k is a good entry point that might not appear again in the market until this bull run is over and it will even be more profitable for buyers at that price entry level compared to when the sell hoping to buy again when price goes lower, this applies to those who might consider selling at $30k, Because no matter how much the price retraces to it will never go back to such price until after a long while.

You are unable to take your profits even when you have a target, it's going to be the same for many others as well, when the target is meet it could be hard to take profits, I have witnessed this many times before, and this have make many lose money, if you are into crypto for a long term be ready to take your profit once your target is reached.

In the 2021 bull run many people kept gazing on their crypto wallet after they have made some thousands of dollars, but they are too greedy to press the sell icon, they wanted more and they end up watching their bags slowly losing value thing they found themselves in another bear market.

I have vowed to never allow this to happen to me again because I have to confess, I was a victim of this too in 2021, it's because I lacked how to read charts, I think the easiest way to know if you are doing the right thing is knowing about charts.

Being greedy does not really help,being greedy can still make you lose money you weren't expecting to lose,
It is always good to be smart,take your profit when you are supposed to take it,or else,your coin will reduce to zero level.
I love holding,and I have always stig to holding because I don't want to do anything that will make me have heart problem in trading.What ever that will make me switch from holding to day trading ,I only avoid it,because I know  what trading has done to someone I know,I don't want to be a victim now,so I just try as much as I could to a avoid it.

Good advice for yourself. If you're giving yourself a target, no heart feelings and just follow what you've set for. Many of the people that have set for target during the last bull run didn't take their profits because of greed and think that the price of bitcoin shall continue to a higher price.
I've learned my experience from 2017 bull run when I didn't take profits. It's normal for someone to feel that there's no need to take profit yet because price might be higher eventually. But then if you've seen in the past that bitcoin is highly volatile, you'll miss that moment within split seconds of not selling it. Always try to convert your profits into stable coins first so that you can comeback and buyback anytime the market goes in a correction. I've got my expectations set for short term and I've got mine as well for the long term. You need to put that boundary and target and do the necessary when you're at the right time.

Target is very important in almost every aspects of humans life and with it, we can achieve our aim easily. So in crypto industry, especially for traders and even long term investors we suppose to get price target and when it reach we should take our profits.Failure to get target sometimes in crypto industry about your investments may leads to lose of great opportunity some times.

So it good to always abide by our target in orders not to lose the opportunity.greediness sometimes always leads to bad luck. I remember one term that I was holding one altcoin which later pump, from the pump I make some good profits that had reach my target but do my greediness I decided not to sell and it the profits, thinking that it will continue pumping at that period but later I lost profits and even half of investment found after I sold it when I get no hope at last.

If you are planning to hold your bitcoin for long term, then you shouldn’t be disturbed about the current bitcoin price, but if you are having mindset of short term trading, then sometimes you shouldn’t be greedy, you won’t always meet up with your target, if you do your analysis and you think the market might soon go against you, then you should take your profits. If you are planning to hold for long term then you shouldn’t sell easily, you should be greedy for more profits.

In this case of @OP, there is one word we need to avoid and that is "GREED".  Being too greedy will make us to miss certain targets in trading.  Yes, we had set our selling price, and we should abide by it.

There is certain situation that can be an example, due to greed and wanting to earn more, we don't sell and wait for further increase which oftentimes doesn't happen because after the market hit our target price, instead of going up, the price started to plummet below our target price, in this case, @OP is lucky because he is trading with Bitcoin so there is this tendency to go up again.  If it happens that he is trading with shitcoins, his holding would be worthless by now  .

I do agree with @OP that when it hits your selling price, sell.  This will make you move on without any regrets.

yes, holding assets to stay on target will make our practice consistent. because we want to get bigger results because we are greedy, sometimes it makes us miss the momentum of the pump.
therefore investors or traders need to have good analytical skills. it is important when you want to choose an asset and also determine the target price to sell or buy.
those who are inconsistent in their targets are usually people who are still panicking at the market, and also those who are greedy with greater returns from investments or trades made.

It is helpful to have a price target when investing in Bitcoin, but it can be difficult to stick to the target due to emotions, especially for newcomers who are unfamiliar with market fluctuations.


But, for example, if you set a target price of $30k for selling your Bitcoin and then wake up to see it pumping up due to some good news, will you sell it or set another target and monitor the price at that time?
I believe the target is subjective because, depending on the market situation at the time, some decisions can be made that cannot be classified as greedy .

You trusted the process too much than you should have done...
All the greed and bulky eyes for a stock in cash Made you forget that there's a certain principles the market flows with ....and without them, you can't call it "marketing"...
The bull market isn't closed yet as many are still buying and HODLing 'em coins... You're certainly set to make alot of profit after this long bullish trend....now it's all about the patience cus that's what will keep you away from selling at a loss.

Sandra 🧑‍🦰