Don't lose your profit unnecessarily - page 2.

LUCKMCFLY

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Quote from: TelolettOm on November 05, 2021, 06:45:46 PM

Quote from: Sled on November 05, 2021, 06:38:00 PM

The past is past, it was now our history. We can't correct those mistakes we've done but we can make it right today and for the incoming. But, we can make those mistakes as our basis for what we have to do in order not to happen again. I know we can't make it right perfectly but at least we do something to lessen the chance of committing mistakes the 2nd time around.

Mistakes in the past become a very precious experience and lesson to make us more aware, smarter, and wiser. And this is also what makes us try not to do similar mistakes in the future or even right now. because if we are still continuing doing similar mistakes, it means we are losers.
Btw, I am sure that everybody has made mistakes in the past lost money, or even been scammed. But, why people are still here is because one of the reasons is that they believe that they can take the lesson they can learn, and they can do better to gain profits later. They believe in cryptocurrency.
Some people may lose their trust in crypto after losing money in the past and they consider that crypto is something that is very dangeruous. But here, once more, it will depend on each person.

You are right, the past serves us a lot because they are acquired experiences, and every experience is very good to receive in order to have learned and not fall, however, no matter how much experience you have, a smarter way is always latent so that they can cheat.

Currently, as I have said before, the easiest way that I have seen that they scam is in decentralized exchanges, where they confuse their victims with false contracts to get their money, and this happens because they do not read well, because they follow third-party links. that have nothing to do with the project. I have seen how many lose their BNB in the pre-sale stage falling into wrong contracts and currently a BNB is around 664USD, which is quite considerable.

proTECH77

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Achieving a good profit from the market is not an easy task for trader to go through before it can be achieve. I make use of my strategies to get my profits from the market because there are many traders who doesn't understand the condition of the market and the strategy to use to achieve profit at the moment.
I buy coins when the price is reduce in the market to enable me to be part of the profit making in the market. Since the price of bitcoin and altcoin is rising and falling, show that the price will soon decrease more for long term investors to buy more and wait for the future to come for them to earn well from their investment.

Slow death

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Quote from: TelolettOm on November 05, 2021, 06:45:46 PM

Some people may lose their trust in crypto after losing money in the past and they consider that crypto is something that is very dangeruous. But here, once more, it will depend on each person.

no one likes to lose money and this market for cryptocurrencies can be cruel sometimes, one can buy bitcoin or altcoin and then see that the price has dropped 30% and at that time the person despairs of giving up cryptocurrencies because they wait months for the price recovers and the price does not recover and they end up leaving this market. 4 years ago I saw this, I saw people who had sold everything to enter this market and then lost a lot and gave up

taufik123

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Greed and fear are two enemies of any trader, controlling your emotions will let the trader to take the profit at the right time. Chasing higher gains will lead to negative results, having trading plan and sticking to it is essential, IMHO. Trail stop order is good method for getting max juice out of trending markets btw.

Greed is a trait that exists in every human being. Psychological control is very necessary to overcome greed so as not to get caught in an unfavorable situation.

The initial strategy and sticking to the strategy are very necessary, so that there is a limit on where to make decisions.

I also sometimes get stuck in this situation, where I don't sell immediately when the price is high and exceeds the target. When waiting to exceed the target price will continue to fall and start to panic, then sell with a small profit and even get a loss.

Psychology really needs to be trained so you don't feel panicked and can run the strategy correctly.

nur rochid

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Quote from: rijaljun on November 06, 2021, 05:51:18 AM

Try to do trailing take profit, here's an explanation i found on the internet: https://medium.com/@sol_98230/how-trailing-take-profit-ttp-works-what-better-way-to-increase-profits-in-a-long-trade-e2fcd12784fe

Another thing I do so I won't lose my profit unnecessarily is whenever I am in profit now, I always have stop loss right above my entry point or at least where I could have a decent profit. For example I already have $200 profit then I will put stop loss on where I can earn $100 as simple as that.

Stop loss is not for losing only but can also be used during profit.

This is a good strategy, because most holders will continue to hold it even when there is no longer any profit for them. however, I often lose the moment to make a profit because of things like that.
having a "stop loss" target when we are "profitable" is a very good thing to get another profit on the next pump.

as much as possible indeed for beginners the use of stop losses and profit targets is highly recommended, this can train our trading psychology. many of them are greedy, or even panic sell, and if after that then what we do is calm ourselves down so we can think again with more care in managing our emotions

sana54210

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Quote from: rijaljun on November 06, 2021, 05:51:18 AM

Try to do trailing take profit, here's an explanation i found on the internet: https://medium.com/@sol_98230/how-trailing-take-profit-ttp-works-what-better-way-to-increase-profits-in-a-long-trade-e2fcd12784fe

Another thing I do so I won't lose my profit unnecessarily is whenever I am in profit now, I always have stop loss right above my entry point or at least where I could have a decent profit. For example I already have $200 profit then I will put stop loss on where I can earn $100 as simple as that.

Stop loss is not for losing only but can also be used during profit.

I have to say it is definitely something good, I have used it many times before and it is something that is definitely a good idea. I am not saying that is the ideal best spot but it is definitely something that I enjoyed a lot. This means that we are talking about something that is totally unprepared for such a huge new thing if you never done it before and you may take some time before you learn it all but it is definitely a good idea and I definitely support it. So you could simply just spend time as much as you could and end up with learning something that could change your entire life.

I have used it for many years and now I am simply holding and never selling, but back when I used this, it was one of the best methods that I could find on making a profit. I have to say it is something that I have to say quite good and definitely worhty method to at least check out and test.

Cadaver20

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Taking profit is a very important thing after making an investment. We don't know how much pumping of our invested coins will be. As a result, many people do not take small profits in the hope of making more profits. As a result, it is seen that there has been a loss later. So I think it should be taken even if the profit is small. That's why I always take a small profit.

ScamViruS

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Quote from: ?? on ??

This is easier said than done. It should be understood that in trading, you can lose money quite quickly, simply making one wrong decision.

When it comes to trading, a trader must look after everything. Because before taking the trade, everything is understood to be normal, but only when the entry is taken in the market, it is understood that the market will actually go in a trend. Most of the time I have lost money when I traded based on ideas. It has been seen that I have made huge gains in two trades but I have lost those profits again in a few trades with the impatient trade entry.

So along with trading knowledge, it is also important to build mental strength to make an entry at the right time.

blackened515

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Quote from: GeorgeJohn on October 30, 2021, 06:17:15 PM

Different people have strategic ways of pulling out their profit whenever it comes, on my perspective, i think delaying profit whenever it arrives is a waste of time, i will like to let you know base on my own initiative, take your profit because if it happen to occur in the losing side and after you regain another profit, it's very obvious that you are in line of losing position, so the best option is to cash out the gain you made whenever it comes, and when any other one surface actually it's also still your profit for the second time. I do advice people do not hesitate to bring out a profit.

Greed is one thing that makes people not to take out profit on their Investment, they probably want to be more profitable without knowing is risky because the price might dump and results into one losing. To me, I don't hesitate to take out my profit, Although, I do leave my initial Capital.

Quote from: crzy on October 30, 2021, 04:56:36 PM

Missing the opportunity to take profit usually happen if you don’t have a target price and becomes greedy in holding your crypto, I see this as a normal situation for every newbie. I always take profit and reinvest it in other projects that is about to rise as well so by this, I can be more profitable without having any emotional attachment on every cryptocurrency that I trade, because I play according to the plan.

You are right. I remember missing out a lot of opportunities as a Newbie. Then, I always wanted my profit to be huge before cashing them out, but I ended up losing most of the time. I think Investing profits into another project is really a good plan. I will try that.

EdenHazard

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Quote from: rijaljun on November 06, 2021, 05:51:18 AM

Try to do trailing take profit, here's an explanation i found on the internet: https://medium.com/@sol_98230/how-trailing-take-profit-ttp-works-what-better-way-to-increase-profits-in-a-long-trade-e2fcd12784fe

Another thing I do so I won't lose my profit unnecessarily is whenever I am in profit now, I always have stop loss right above my entry point or at least where I could have a decent profit. For example I already have $200 profit then I will put stop loss on where I can earn $100 as simple as that.

Stop loss is not for losing only but can also be used during profit.

Well , trading continuously most of the times are a loss , if you accumulate it thoroughly . hard to avoid this except if you put a 100 percent discipline since day one you started the trade which i believe its a very rare case.
for example, deposited first capital of $1,000 ... gained $500 a month so the balance @1,500 then withdraw the profit of $500 ... put that half of withdrawn profit for a counter loss fund and so on , as there is a time where you are so unlucky and loss the first capital deposited so you need the backup fund or a counter loss fund or whatever you can call it ...

so you need to deposit again from a fund that taken from the previous profit , not taking from a fresh money and put it on another risk, the pure profit wont come that easy tho.

pawanjain

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Very well said. Profit taking is an art which not many can master. Moreover profit taking at the right time is needs more skill and experience.
Not taking your profits can lead us to heavy losses just like what I am facing currently.
I had my target set at a particular price and the price of the coin was just about to reach my target but I still waited for it to reach the price.
But just a few cents before my target price the trend reversed and the price of the coin dumped.
I could have took the profits and bought back again but I was determined to reach my target price.

palle11

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Quote from: ?? on ??

This is easier said than done. It should be understood that in trading, you can lose money quite quickly, simply making one wrong decision.

You either have not understood the intent of the thread, you can go back to it and read properly to understand the content in it.

Some traders can wait to take bigger profit while they already have little but at the end they lose the little and have nothing at all on that trade. The thread is saying that initial profit lost is not recovered when you make another profit, it is entirely a new profit and the old profit is gone. So why lose your profit unnecessarily Huh

Greed is the answer, a trader not greedy gets more profit than a greedy trader.

rijaljun

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Try to do trailing take profit, here's an explanation i found on the internet: https://medium.com/@sol_98230/how-trailing-take-profit-ttp-works-what-better-way-to-increase-profits-in-a-long-trade-e2fcd12784fe

Another thing I do so I won't lose my profit unnecessarily is whenever I am in profit now, I always have stop loss right above my entry point or at least where I could have a decent profit. For example I already have $200 profit then I will put stop loss on where I can earn $100 as simple as that.

Stop loss is not for losing only but can also be used during profit.

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Quote from: palle11 on October 30, 2021, 10:13:39 AM

Or you feel the regained profit is same profit that you lost Huh

From a mathematical perspective, you are screwing yourself if you take losses in hopes of taking back those losses in the form of profits, later in the future. Why? Well lets say you have 1000 USD. You lose 100 USD in a bad trade that you decide to get out of. Suddenly, you notice it goes up again. Now you buy back the coins at a higher price with a lower fiat amount. In order to make back those lost 100 USD, you would have to earn a much higher % profit than if you hadn't sold.

So everytime you need to make a larger % spread profit in order to get back to your original position. While you can be sure to make a small % profit, hoping to earn more and more % is a pipedream that you can't get out of. In the end you will never be able to return back to the original position.

NEVER SELL ON A LOSS.

CDC AP

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I know it's hard to say that what the next move of our coin will be like whether it will grow or tumble.But whenever there are satisfactory returns i usually cash out the profits without being any further greedy to loose all of them in one big crash as i have experienced it in the past so don't want to go that way.So like if i have made 20-30% profits i take out my profits and hold the investment for long term.

adzino

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You are talking about short term holding. Yeah, in that case, take your profit and leave. This is how it is supposed to work. Invest in a coin, wait for the value to go up, take the profits, leave or reinvest. In that case you should also keep an exit strategy when the value starts dropping. It's better to cut loses short when you hold for short term. On other hand, if you are thinking of investing for long term, then keep a profit goal and "don't" take unnecessary profits. Only take your profit once you reach your goal.

goinmerry

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Quote from: palle11 on October 30, 2021, 10:13:39 AM

What way do you take your profit ?

Or you feel the regained profit is same profit that you lost Huh

Don't ever think about that. Once you take profit, it means you win and your strategy works for you.

Monitor your gains to see if you are really yielding a profit or just a cover-up for the losses.

Don't distract yourself that you are not working well. Keep up the good work of taking profits.

TelolettOm

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Quote from: Sled on November 05, 2021, 06:38:00 PM

The past is past, it was now our history. We can't correct those mistakes we've done but we can make it right today and for the incoming. But, we can make those mistakes as our basis for what we have to do in order not to happen again. I know we can't make it right perfectly but at least we do something to lessen the chance of committing mistakes the 2nd time around.

Mistakes in the past become a very precious experience and lesson to make us more aware, smarter, and wiser. And this is also what makes us try not to do similar mistakes in the future or even right now. because if we are still continuing doing similar mistakes, it means we are losers.
Btw, I am sure that everybody has made mistakes in the past lost money, or even been scammed. But, why people are still here is because one of the reasons is that they believe that they can take the lesson they can learn, and they can do better to gain profits later. They believe in cryptocurrency.
Some people may lose their trust in crypto after losing money in the past and they consider that crypto is something that is very dangeruous. But here, once more, it will depend on each person.

Sled

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Quote from: Lanatsa on November 05, 2021, 05:50:59 PM

Quote from: harizen on November 05, 2021, 05:22:50 PM

Quote from: palle11 on October 30, 2021, 10:13:39 AM

snipped~

It's fine. You don't have to worry about that. You take profits because you are now in profits and so on. Don't regret your action but rather do some preparations again for another buying or selling rounds. There's no perfect strategy in the first place so just move forward rather than be distracted because you believed something is not right.

While you progress, you will eventually learn how to cope up with the situation. Just "trust the process".

This kind of mindset you should really have on which you wont really be regretting into those past you had missed out in terms of more profits.Past is past

and you cant take those times on where you do make money.Its true and right that you should mind rather on how to take actions basing up on your
experience in the past.

There's no turning back but doesn't mean that you cant make yourself more better.

The past is past, it was now our history. We can't correct those mistakes we've done but we can make it right today and for the incoming. But, we can make those mistakes as our basis for what we have to do in order not to happen again. I know we can't make it right perfectly but at least we do something to lessen the chance of committing mistakes the 2nd time around.

It was a matter of choice and most of the time we tend to choose the life that we think is better but sometimes we just fail and that is what happens to OP or even to us.

Lanatsa

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Quote from: harizen on November 05, 2021, 05:22:50 PM

Quote from: palle11 on October 30, 2021, 10:13:39 AM

As newbie I have not bothered about the profit that I have missed taking out just because that I believe another profit will fill up for me. I have been on this for some time but with my growing knowledge in the trading business, I now seeing it differently that the profit I didn't take was gone and another profit that got filled is a different profit entirely which means I may have been made more of profit in the account and lesser losses. Lately therefore I take profit as it comes and this has worked for my trading experience. It is not scalping if you see your profit going down the pit.

It's fine. You don't have to worry about that. You take profits because you are now in profits and so on. Don't regret your action but rather do some preparations again for another buying or selling rounds. There's no perfect strategy in the first place so just move forward rather than be distracted because you believed something is not right.

While you progress, you will eventually learn how to cope up with the situation. Just "trust the process".

This kind of mindset you should really have on which you wont really be regretting into those past you had missed out in terms of more profits.Past is past

and you cant take those times on where you do make money.Its true and right that you should mind rather on how to take actions basing up on your
experience in the past.

There's no turning back but doesn't mean that you cant make yourself more better.

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