Don't lose your profit unnecessarily - page 5.

beerlover

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Quote from: Peanutswar on November 01, 2021, 03:00:25 AM

regarding with the market trend, technical indicators and analysis this gives you a hint to get a profit and losing your assets.

If we are good at technical analysis then we never need to lose those potential profits like how OP is concerning here. Only because of lack of accurate technical analysis, we are suffering by not able to compete against the market fluctuations. If our analysis are good and enables us to book profits at right times then we can easily ride on market swings which must be another level of trading performances to enjoy the maximum benefits for the same market fluctuations.

Quote from: dezoel on October 31, 2021, 03:25:16 PM

The best thing one should always do in trading is - cash your profits because loss is imminent at some point.

This might be true only on short term and in long run, you need to let your profits grow along with time which may be trailed with stoploss to cut earlier so that you may not be losing your capital as well. For long term trading of bitcoins, you do not need trailing soploss as far as I have experienced.

Dr.Osh

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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.

What way do you take your profit ?

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

when I hold a coin, and the price goes up, but I don't sell it, and the price goes down. I feel that I missed the opportunity, and got the loss. it makes me regret.
however, when the price went up again, I thought of it as another opportunity. however, it is ups and downs for people who hold coins for a certain period of time. sometimes when we see an opportunity and other opportunities in the future, we think again that if we really take advantage of all those opportunities, the benefits we get can be even greater.
Personally, I'm still doing the same thing as you, holding coins for a certain period of time with a target. even if the price goes up but has not reached the target, I will continue to hold it,.

Peanutswar

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It depends on whats your ideal profit regarding it. Some people hold their coins because it's not necessary to pull out this is the reason why make an investment only to extra money. Not all the time the market will gives us a good shot of profit, always try to see and hunt an ideal coin there are a lot of potential on it. Also regarding with the market trend, technical indicators and analysis this gives you a hint to get a profit and losing your assets.

kaseygriffin

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The process produces the results, and we want to make a profit here, the process of creating it is a big question for many people.
Myself, after many years in this field, I feel that there are many opportunities for everyone, but it also comes with many hidden things. What I say may be appropriate for me because of the process and results that have happened, but it may not be appropriate and attractive to others.
Personally, I like the fundamentals and the core of the market, so no matter how big the trends are, that's just what keeps the top things going. Maybe many people talk about the profit opportunity of BTC ETH will be difficult to reach, in fact we are turning ourselves into this market's game by chasing it too much

, profit is the priority, but it also needs to be balanced with the possible risks.

wajik-tempe

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Quote from: lienfaye on October 31, 2021, 09:10:21 PM

We really cant tell if we made the right decision since the market can move unexpectedly after we take profit and leaving us with regrets of selling early. Thus having a plan and strategy on what coins to buy and for how long you'll hold can help in order to maximize your chance to not lose in that trade. Greed is the reason why some of us are losing their patience.

At this point, I opt to not sell if not really needed because I prefer to hold for long period since day trading didnt work best for me. If im contented with the possible profit that I can get if I sell, then I dont hesitate and just doing it.

Different person, different plan, different trading strategy. People who bought shiba at really first launch won't be billionaire if they sold it at just 10x or 100x. But at that time they sold it, they must be very proud about their decision but regrets it later when the price doing 20.000x growth.

So i think it depends on how people manage their assets, crypto market is so volatile so making a plan before the decision is a must. We cannot take a decision based on what we suddenly see.

Holding for a long run is still the best position to maximize profits but make sure choosing the right coins with a strong fundamental.

lienfaye

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We really cant tell if we made the right decision since the market can move unexpectedly after we take profit and leaving us with regrets of selling early. Thus having a plan and strategy on what coins to buy and for how long you'll hold can help in order to maximize your chance to not lose in that trade. Greed is the reason why some of us are losing their patience.

At this point, I opt to not sell if not really needed because I prefer to hold for long period since day trading didnt work best for me. If im contented with the possible profit that I can get if I sell, then I dont hesitate and just doing it.

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Quote from: ene1980 on October 31, 2021, 06:08:26 PM

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

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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 depends upon the project i invested, when it comes to Bitcoin, i have a target for the amount i wanted to trade and if that reaches my target then i will book my profit and then purchase them once again when there is a correction. When it comes to alts, especially hyped ones i will invest during the initial period and i would cash out completely and never think about purchasing that ever again.

a hype project is a project that must require regular monitoring, because at any time there will be pumps and dumps, so we lose the moment. to buy it, indeed, if we believe in the analysis, the initial purchase will be better, and we are waiting for the pump to react. and after the dump happened, then I also thought it would be difficult to bounce back, so it's better to forget about it afterwards

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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.

What way do you take your profit ?

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

I have made a simple spreadsheet to track my profit on a monthly basis and I sorted them where it comes. But base on the data that I have, it has to notice that I spend more and lose more than making a profit. Like if I got a $500 profit, I also lost almost twice. That is why all of the profits I have is just a record as I spend them actually. I had thought that rolling my profit is a good idea, yes, it might but unfortunately, my trading journey wasn't good enough to keep them, I'd lose. But this become helpful to me and I can easily determine where I got wrong and which thing I have to change or going to improve.

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Quote from: kawetsriyanto on October 31, 2021, 05:21:36 PM

Feeling disappointed on ourselves when taking profit too fast, feeling disappointed because we are too greedy when taking profits and then the price keeps falling down. And feeling so proud and satisfied with whatever target of profits to take.
Well, those three feelings are very common happening in this crypto market.
For me, I always take profits based on some steps. I cannot take profits all in on time. I commonly will take profits by some % and another. It is in order to get higher profit but still has the profits at first.
However, based on previous experiences, I will not set high profits for my short-term or day trade, several percentage is enough. Except that I am holding them for a long-term period.

Discipline in decision making is a great way you have taken it. Trade must be controlled as much as possible on the basis of our control in accordance with the 5 targets that we have set. But as the situation and circumstances, I as a small trader still do not fully control the decision making. Everyone really needs to learn continuously and always prioritize profits at points that are considered safe.

You can only learn those trading tricks as you go along this process. You can't get it in one sitting because each coin has their own market performance depending on the current status of their developments. So normally, you can't compare the history of the coin to others and based your decision from that history because it may be totally different. If you are holding specific coins, you need to keep up with their progress as it will give you insights on what's about to happen with your holdings.

ene1980

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

~
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 depends upon the project i invested, when it comes to Bitcoin, i have a target for the amount i wanted to trade and if that reaches my target then i will book my profit and then purchase them once again when there is a correction. When it comes to alts, especially hyped ones i will invest during the initial period and i would cash out completely and never think about purchasing that ever again.

Valak

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Newbie traders are usually traders who dare to hold a loss position for a long time in the hope that the price will reverse direction. In reality this kind of trading will destroy your account because you never set limits. No matter how sophisticated the trading strategy used, you must still determine the stop loss as early protection

kawetsriyanto

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Feeling disappointed on ourselves when taking profit too fast, feeling disappointed because we are too greedy when taking profits and then the price keeps falling down. And feeling so proud and satisfied with whatever target of profits to take.
Well, those three feelings are very common happening in this crypto market.
For me, I always take profits based on some steps. I cannot take profits all in on time. I commonly will take profits by some % and another. It is in order to get higher profit but still has the profits at first.
However, based on previous experiences, I will not set high profits for my short-term or day trade, several percentage is enough. Except that I am holding them for a long-term period.

Rruchi man

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Last week, i attended a funeral with a friend that i haven't seen in a while and i discovered that he was into buying cryptocurrencies, HODLing them and though he monitors them daily, he is just waiting endlessly for them to blow up (he has no take profit price in mind).

I'm saying this because recently there a was a pump in the meme coin "shiba" which was one of the altcoins he had purchased, he made very good profit but lost it because he was reluctant to convert to stable coin saying that he doesn't know what USDT was.

Don't lose your profit unnecessarily because of lack of knowledge and rigidity to conform to technical advice when issued by someone who is more knowledgeable in a field than you, learn.

CryptocurencyKing

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

~snipe~

One thing I know for sure is that, with the market, you cannot be always right. No matter the strategies you employ at working out the market to win with it and beat your previous strategies, a lot would still elude you.

Scalping entails you picking off the small profits available in the market and as much as that might be the best thing for a scalper or short term trader, it also cam introduce some emotion of greed into your trading.

Greed has been one reason why most persons fail in trading. You feel because, it read profit in your favour, its actually yours. Wel the truth is, its not and won't be until you take it. That's just the market playing out as it should and the profits are just a connotations of what could be until you claim it.
Where the problem comes is in when a trader tries to pick every opportunity and make profit out of every pip on the charts then, your gradually letting greed step in and that means danger.

Once it's appealing, just take profit and know that's actually profit without minding the once that are gone. They were never yours anyway!

dezoel

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Quote from: Woodie on October 31, 2021, 11:41:10 AM

The thing with trading is we have all kinds of trading platforms that have different take profit mechanisms and if you can find one that allows you to take profit automatically if a certain predefined price is reached then you should have your problem solved of missing out on taking out your profits. Because what's popular right now is most users buy and hold and if you not checking on price those profits don't get realized if you don't sell manually when price goes up.

You can do that on most exchanges. Basically, you set orders for buy and sell and let it work. There are even bots that will allow you to customize such trades even further. Gunbot (not promoting it) is one such bot of the many others in the market.

Quote from: checkmatesir on October 31, 2021, 11:41:44 AM

In trading my strategies has a little bit of changes than others, for example if I lost in some coins a massive amount then after that I prefer to invest in the other coin and get the profit and recovered the loss which I had made in the previous coin, Which must be better and can be a great way of getting your profit.

Glad it works for you because whenever I try and trade too many coins, I feel like my focus is lost and I am just trading based on my feelings rather than my knowledge and research.

The best thing one should always do in trading is - cash your profits because loss is imminent at some point.

jostorres

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Quote from: Jazzi Mahesh on October 31, 2021, 01:27:18 PM

The only way to lose profit is to not trade at all, you can always trade more and more and earn more profits than the losses incurred to survive in the Forex Market.

I haven't traded in the Forex market so I'm not entirely sure how good or bad it is. That said, I am so happy that I am born in the age where we are able to trade cryptocurrencies, just think about it, we have countless options now and the best part, everything is decentralized and volatile. Many people hate volatility but I cannot imagine trading all day for a 1% gain.

The best way to NOT lose your profits is to learn because nothing will save you from losses but your understanding and learning approach. Also don't go all-in with your trades. If you have earned big from one trade, don't let it turn you into a gambler.

palle11

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Quote from: checkmatesir on October 31, 2021, 11:41:44 AM

In trading my strategies has a little bit of changes than others, for example if I lost in some coins a massive amount then after that I prefer to invest in the other coin and get the profit and recovered the loss which I had made in the previous coin, Which must be better and can be a great way of getting your profit.

This is rather called chasing the market and this can back fire on you. If this happens you know it means you would be losing your two trades in a roll and your account starts going down drastically. It is not a good trade decision to try chasing the market when you lose except you see a good spot for a come back. Well if it has been working for you, best of luck in the trades of such that you do to get back your money.

Jazzi Mahesh

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The only way to lose profit is to not trade at all, you can always trade more and more and earn more profits than the losses incurred to survive in the Forex Market.

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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 ?

There were mixed experiences for me regarding profit booking and mostly with altcoins all my patience was not paid. Sometimes I waited and then those coins got delisted from exchanges as well. In my experiences, booking profits around 5% to 10% would be more appropriate than regretting later on. The problem with me is, I am too slow to encash my bounty rewards; one of my friend guided about holding altcoins as well for longer duration but I feel that must be a wrong recommendation for all the coins except bitcoins.

mu_enrico

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I'm not a day trader, so I can only give my perspective of being a small bag holder who occasionally buys and sells some tokens, sometimes shitcoins. Unrealized profit means nothing. It's only good on your screen, but as long as you haven't cashed out, you haven't received any real profit. After the significant pump, I often react with selling significant or almost all portions of my bag. If the coin keeps pumping, you still end up in PROFIT from previous sales, so there's no reason to be sad (don't be greedy). In fact, most of the time, after I sold the token, the price immediately drop and could give me less profit if I waited for too long. The key here is to treat gain like "rarity." Let's say (depend on the market cap) 25% common, 50% common-rare, 100% rare, 500% super rare. So after you earn like 50% gain, you should understand that the chance to get 100% gain is way more difficult.

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