Don't lose your profit unnecessarily - page 4.

milewilda

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Quote from: ?? on ??

Quote from: Luqman on November 02, 2021, 06:46:05 PM

Quote from: Silberman on November 02, 2021, 06:07:24 PM

-snip- they do not understand that even more important than when you enter the market is when you decide to exit the market -snip-

Both important, knowing the best time to enter and to exit the market. I don't think that the newbies carelessly not learning about how to exit well. They are just still having a little experience and sometimes be influenced by others to keep holding. So, when there is a good chance to sell, they don't sell their tokens because they think it will increase more as people suggested to them. Sadly, after few days, the price of the tokens decrease drastically.

I’m guilty on this when I was a newbie and I see this as a normal trend where you expect for the price to continue going up but in reality its going sideways, this could be the learning phase for that newbie and later on when there’s enough experience they’ll know when to buy and sell. Profit taking is always advisable, you could consider this as your success in trading so don’t hesitate on this.

Everyone starts on being a noob and due to lack of knowledge and experience then these kind of mistakes were very common and cant really be avoided
and this is where these mistakes will really be your learning step or stone for you to be even more better as a trader or investor since you do already have the experience and awareness on how this market moves then you would really be finding this thing to be repititive and would result to be
keen on making out decisions on each particular situations.

Zilon

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Bitcoindata.science

Quote from: palle11 on October 30, 2021, 11:13:39 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.

What way do you take your profit ?

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

It depends on the type of trader you are and how much capital you are trading with. It's scalpers who worry more about losses the incurred from not taking up profit when due. But for position and long term traders with reasonable trading capital. Once they are convinced their analysis is right losses mean less to them because they are always convinced of their profit.

Hypnosis00

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Quote from: Silberman on November 02, 2021, 06:07:24 PM

Quote from: adaseb on October 30, 2021, 07:59:41 PM

Entering a trade is easy… what is difficult is when to get out.

If you are in a losing trade it’s best to get out ASAP before it turns into a huge loss. If you are in a winning trade however it’s different because if you get out as soon as you get a little profit and you don’t let it run then you are hurting yourself because if in the future you run into a trade that is a loss then it’ll wipe all your previous earnings. So some trades you just need to let them run. Taking profits too early is never a good idea.

A very common mistake is that I see newbies concentrate a lot on leaning about entry strategies and signals and they know several ways to enter the market at the best possible time, but they do not understand that even more important than when you enter the market is when you decide to exit the market, it seems they forget that traders are not like investors which just buy and then hold their coins forever, at some point they need to sell and if you do not have a solid exit strategy then you are going to lose money.

It found a reason that they don't have an exit plan and less experience but I know they could find it out sooner. For these newbies who aren't familiar yet with the market, they often become the victim of these signal groups pretending to offer help and make them rich instantly but behind those colorful and attractive words, they don't notice that they got fallen into the trap already. So sad to see things like this but this is will be the consequences if we don't have knowledge on the thing we do.

Kasabus

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Quote from: Luqman on November 02, 2021, 06:46:05 PM

Quote from: Silberman on November 02, 2021, 06:07:24 PM

-snip- they do not understand that even more important than when you enter the market is when you decide to exit the market -snip-

Both important, knowing the best time to enter and to exit the market. I don't think that the newbies carelessly not learning about how to exit well. They are just still having a little experience and sometimes be influenced by others to keep holding. So, when there is a good chance to sell, they don't sell their tokens because they think it will increase more as people suggested to them. Sadly, after few days, the price of the tokens decrease drastically.

Just because of greed, all your expected profits have gone in an instant. And you could have made good profits if you take advantage with the market's good condition and sell your coin while the price is still in profits. As long as you see your coin in progress and brings even small profits from the time you bought it, do not hesitate to sell it just because you are aiming for a bigger profits. Always remember that this crypto market is too much volatile and what is profitable at the moment will lose its value in the days to come. So always seize the iron while its still hot so you won't end up being a loser.

Luqman

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Quote from: Silberman on November 02, 2021, 06:07:24 PM

-snip- they do not understand that even more important than when you enter the market is when you decide to exit the market -snip-

Both important, knowing the best time to enter and to exit the market. I don't think that the newbies carelessly not learning about how to exit well. They are just still having a little experience and sometimes be influenced by others to keep holding. So, when there is a good chance to sell, they don't sell their tokens because they think it will increase more as people suggested to them. Sadly, after few days, the price of the tokens decrease drastically.

Silberman

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Quote from: adaseb on October 30, 2021, 07:59:41 PM

Entering a trade is easy… what is difficult is when to get out.

If you are in a losing trade it’s best to get out ASAP before it turns into a huge loss. If you are in a winning trade however it’s different because if you get out as soon as you get a little profit and you don’t let it run then you are hurting yourself because if in the future you run into a trade that is a loss then it’ll wipe all your previous earnings. So some trades you just need to let them run. Taking profits too early is never a good idea.

A very common mistake is that I see newbies concentrate a lot on learning about entry strategies and signals and they know several ways to enter the market at the best possible time, but they do not understand that even more important than when you enter the market is when you decide to exit the market, it seems they forget that traders are not like investors which just buy and then hold their coins forever, at some point they need to sell and if you do not have a solid exit strategy then you are going to lose money.

darewaller

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Quote from: palle11 on October 30, 2021, 11:13:39 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.

Nah bruh that’s not true. If you lose profit in the market and later the market price of that asset goes and you make profit again, it’s a recovery for you, it is that same profit you lost before that you have gotten back and that’s just it. For you saying that the profit you have made is something different from what you have lost, that’s not true. And to give you an instance, let’s say that you have $200 and you invested it in bitcoin and then lost $50 and had only $150 left, that’s currently a loss for you at that moment.

Moreover, if eventually you happened to gain back that $50 after the market makes a move up, then you will have $200 back which is your initial investment. Then going forward, if you should make another profit, and let’s say you make extra $50 that makes it $250, then that’s a profit for you. Hope I’m clear enough on this.

Oilacris

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Quote from: palle11 on October 30, 2021, 11:13:39 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.

What way do you take your profit ?

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

Dont chase your losses which is just like the same when you do gamble because you would be basically making some problems later on and you should really get rid with this kind of behavior specially

when you are investing and once you have seen that you are already in greens then better set out some goals whether or when you do secure your profits or would tend to hold.

It will matter on your own preferences because not all would really be having the same mindset and ending up on same decisions to each other.

Alisha FR

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How to take profits is sometimes always different for every trader. for example there are traders with luck so quickly get large amounts, there are also losses in the beginning and profits in subsequent trader.

Losses in trades that occurred with me have been covered, with trading knowledge and experience I can earn as I want, although some trades failed but I did not lose large amounts. Until now trading is an effective solution for financial freedom. I don't know how long this will last, the point is I have to make the most of it.

otundebis

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Profit taking must be taken very seriously. The time you spent in research and doing your homework into making sure you enter the right trade at the right price must not be wasted by not taking profit when you have one. I have been in a situation where trade change very quickly and before you say Jack, your unrealized profit. Please don't be me!

checkmatesir

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$CYBERCASH METAVERSE

I prefer the best way of getting profit is investing some of your money in these coins which you are holding for long term like XRP, as I said this is an example of the coin, and some of you should invest in the new coins then you can get some profit in my opinion. Getting the profit in these coins may give you an outstanding support.

Cling18

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Most of us have that kind of regret especially when we were just beginning in trading. To be honest, it was really frustrating but also a lesson for us to learn. Every profit regardless of how small or big the amount of it is still a profit and we should take it instead of aiming for more because sometimes, greediness could take everything away from us.

Eureka_07

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Quote from: palle11 on October 30, 2021, 11:13:39 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.

What way do you take your profit ?

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

The same as me, probably before when basically I do not turn my profit in trading into cash. It it set on my mind that if I profited from it, either I reinvest it on other investments like games, other coins/projects, etc. or maybe add it on my gambling fund. Honestly there were times also that I feel just I regained the profit that I got from my previous lost invesments.
But right now, I can say that I am really doing fine.

bitgolden

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Quote from: Alert31 on November 01, 2021, 11:42:42 AM

Taking profits in trading is depends on your strategy. For me taking 10% profit is better rather than sorry if the market don't goes in my plan. Also it depends on your coins that you trade.

Depends on coins mean that you will go more than 10% for some coins and less than with some other coins?
I guess if you change according to the trading pair that you are trading then I am afraid that you may end up in messing up like you may exit early or may wait longer than your plans.

All I mean is, either trade only very few coins then you may not bother about what to do with which coin; you will get practiced to your plans subconscious level as well.

Or else, you need to have same level of exit strategy across all the trading pairs which is the minimum or figured out with the help of your technical part. This way you can be sure about not messing up things but easily following your plans even under market pressures.

carlisle1

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Quote from: carrigan on November 01, 2021, 10:52:47 AM

The profit that I take usually has been calculated beforehand. In some trades, the profits obtained are not always the same, sometimes even from 10 to 5, this is not really a problem because I have calculated the minimum profit that can still be obtained at number 3. obtained so you can know whether a decrease in profits makes you lose or you still get a profit.But it's also a good idea to maintain the level of profit and even make it bigger.

Better to set your goals, a profit still a profit no matter how big or less it is,

Pointing the directions of your investment is really the important tool when you are dealing into this business, many failed due to different reasons. But the common reason from those who succeed is the mentality that profits is your main goal in this business.

Every traders have their differences in taking profits, but as long as you are really getting some portions out from your investment,

It's a great sign that you are really succeeding.

Alert31

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Taking profits in trading is depends on your strategy. For me taking 10% profit is better rather than sorry if the market don't goes in my plan. Also it depends on your coins that you trade. Many altcoins in in crypto market is just a hypecoins without real use case, so be careful and always don't be greedy.

carrigan

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The profit that I take usually has been calculated beforehand. In some trades, the profits obtained are not always the same, sometimes even from 10 to 5, this is not really a problem because I have calculated the minimum profit that can still be obtained at number 3. obtained so you can know whether a decrease in profits makes you lose or you still get a profit.But it's also a good idea to maintain the level of profit and even make it bigger.

Mauser

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Quote from: palle11 on October 30, 2021, 11:13:39 AM

What way do you take your profit ?

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

I agree with you that taking profits is important if we want to grow our portfolio. HODL is a viable strategy for crypto currencies, but if the outlook of a coin is not optimistic anymore than shifting our money into projects is important. For me there are a few things I try to consider before taking profit. The first one is if I need money in the near future. For any bigger expenditures I look at using fiat money or if necessary crypto money. When needing money I try to take profit in the coins where I made the most profit. But before I sell any crypto coins I also look at how profitable the coin might be in the future. Because if I take profit today, I try to avoid buying the coin back in a few weeks. Saving some transaction fees can sum up over time.

Wexnident

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I don't take loans, ask for sig if I ever do.

I don't actively wait for profits, nor do I regret losing out on what could've been. I instead look at what I could get after each action and so on. It's really hard to get out of that loop of "what if" once you start looking into it, so I try to not do it, at all. I take profits when I can (or when I want to) and that's it, I don't look back into what it could've been because the action's already been done, I don't want it to influence my future trades that much. It's really up to your strategy really on when you think you'd actually "profit" or not.

Anguwa

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I am also new in trading, but at some point I get to think that once I have profit, I take it immediately because of the market fluctuation. Profit come as a result of some rise of price in the cryptocurrency coin been purchased, at the same time, if we are on profit due to some pump in the coin price, many people in profit will like to sell to claim their profits, at that time there will some price decrement which will also drop down my profit. That's why I take off my profit as soon as possible.

Topic: Don't lose your profit unnecessarily - page 4. (Read 704 times)