Topic: Don't lose your profit unnecessarily - page 6. (Read 704 times)
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.
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.
I take my profits and i don't hesitate because i believe the little i see at that period of time is mine.
If you keep accumulating profits,it might reduce over time e.g leaving profits during trading gold,since gold has high volatility,the profits might just run down to zero and even begin to read on minus which automatically means you're running on loss.
What really makes people accumulate profit is 'greed',when you are looking at getting a bigger outcome from a smaller account capacity,then the funds are gone into thin air
If you keep accumulating profits,it might reduce over time e.g leaving profits during trading gold,since gold has high volatility,the profits might just run down to zero and even begin to read on minus which automatically means you're running on loss.
What really makes people accumulate profit is 'greed',when you are looking at getting a bigger outcome from a smaller account capacity,then the funds are gone into thin air
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What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
Taking profits is not a bad decision ever. This is one of the major mistakes of traders especially those people who are just starting. They don't stick with their plan especially for those using risk management, like risk: reward ratio.What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
Huge or small profits, it is already considered profits. So never ever underestimate the profit you will get when closing your trades because there is very lot of trade opportunities.
If you consider yourself as a trader then its very important to take out your profits in the regular intervals which depends on your trading time period and invest the profits you made on something which has less volatility which can be gold or real estate and this may not work for traders with small capital so they have to approach differently by compounding their profits again and take such gamble.
to take profit I usually divide it into several targets, where if the first target is reached then some of the coins I sell, so that later there are a small number of coins that I have for fun in the sense that I might speculate to hold until I have a fatast profit because of the pump, but if there is a crash at least I already have a profit from the previous sale
Instead of taking small profits and dividing so many targets, traders love big profits and impose a very thick and high target, even after old goals are accomplished, they continue to wait to associate happier, richer outcomes all at once and of course, a few times the market will respond to opportunities as an exception but asking for so many times is almost impossible. Children need time and nutrition to grow taller and there will be a time to stop, trading is similar, high to a certain level will stop and slowly lower, need to switch to a new form, so taking profits is the way to preserve the golden age, don't miss it 
Taking profit on your trading and investment is another game entirely, profit taking require another skills set different from trading profitably! What I like to do is to speculate valuation of an asset in advance, if those speculations value are met, I sell immediately. Another profit taking method is scalping!
I think we should book and respect our profits because profits has been come from great attention and hard work or thinking. Some trader has the tendency to play with profits may be their own money, they can do anything but we should calculate our profits and go big in life. thank you
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
it's very good I also take profit at any time with a certain target and return to choose coins that have the potential to get other profits. because in my opinion, with fast price movements, it is very regrettable if we miss the profits we have earned when prices are high. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
You are right that profits once gone are lost and those profits as well as that time won't be back again. Whatever comes will be the future profits and the past profits once lost can't be justified. I take 50% profits plus the capital, and let the remaining profits run - that's my way to keep the trade going and even if I lose a bit in the trade, I'm ultimately the winner because I already took out my capital and some part of the profits. I support your thoughts on taking out profits on time so not to regret later.
Yeah I understand what you mean and also understand how you can do that. It is nice not to lose all the profit made in a particular trade just when we are expecting more profit to be filled and that greed can come back to hurt us when it runs to lose.
And for traders wondering how to take some profit while your trade is still running, you adjust your order . You do that by adjusting your entry price above (if you are buying) to a point that you have taken some profit and adjust below your entry if you are sell (also to a point you have taken profit).
to take profit I usually divide it into several targets, where if the first target is reached then some of the coins I sell, so that later there are a small number of coins that I have for fun in the sense that I might speculate to hold until I have a fatast profit because of the pump, but if there is a crash at least I already have a profit from the previous sale
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.
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.
This kind of stupid mistake of not taking profit appropriately had once happened to me due to greediness having reached my target I didn't close the trade unfortunately the price reversed and I ended up in a loss, however I had learnt my lesson, I now ensured that I take profit irrespective of how small the profit is having knew that another opportunity will avail itself and I also ensured that I prevented any form of emotion while trading because emotion has also been one of my drawback or obstacle when I was a newbie trader. 
I am trying to take my profit when the price increase to the high price and although I only sell some portion of the coin amount, that is still my profit and I do not mind holding for more to expect of making the other profit. I do not mind losing the profit that I might get before because I believe that I can make another profit from the other coins.
You need to know when you should take profit. Otherwise, you only hold the coin without enjoying your profit. Maybe the important is when the price can start to jump double from your bought price, you can sell all of the amounts or sell step by step to take your profit.
You need to know when you should take profit. Otherwise, you only hold the coin without enjoying your profit. Maybe the important is when the price can start to jump double from your bought price, you can sell all of the amounts or sell step by step to take your profit.
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What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
The way I take profit is by calculating how much I have actually lost down the pit. Meaning, I will not go for the next profit because logically you are not profiting unless and until you recover your lost investment. The trade goes very simple: If you had x trade going on and at the same time you also have y trade on going but meanwhile you lost the investment and gotten (y + profit) - x = On going trade. In this case, y must be in profit otherwise you will straight away end up as (y - x) = - ( y - x) ~ If unsold and ( y - x) = 0 (If portfolio is sold already).
This means you already lost the bet. If not sold, then you should always rely on the y + profit and must not introduce any other investment z which I call as extra burden to be recovered. You are in positive only if your y + ( profit = x value). This is the simplest way to tackle this just dont add that z until you are clear off all the bets.
Every trader has different strategies to trade cryptocurrency. If you are wondering to get small profits by taking advantage of the volatility then you can't gain big profit. It's called day trading. I was on this strategy and missed big profit when the market move up suddenly. Now wondering if I hadn't taken the opportunity of small profits today I should have 10x of my portfolio.
For me, I am just wondering to change the strategy. Lately, I don't have enough time to do trading. So decided to trade for a longer and wait for the market dump. If it's a dump then I could take an entry. Otherwise missed it and the profits have gone.
For me, I am just wondering to change the strategy. Lately, I don't have enough time to do trading. So decided to trade for a longer and wait for the market dump. If it's a dump then I could take an entry. Otherwise missed it and the profits have gone.
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.
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.
There are days when I feel very angry with trade, because the price keeps falling and just when it's time to buy I have to leave the house and when I come back to have another chance to buy and sell to make a profit I have to stay an eternity in front of the computer, this is stressful
sometimes lack of time is also a reason for not being able to make a profit.
Missing the opportunity to take profit usually happen if you don’t have a target price and becomes greedy in holding your crypto
sometimes lack of time is also a reason for not being able to make a profit.
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.
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 think that's the best part of hodling since you aim for the higher target or long term profit although, it's right just to take your profit if you know yourself that you won't get any in the future since you just want to hodl. You should make a list of your daily trading activity the same as to OP too if you want to see how much profit or losses you have got.Quote
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.
I think it's better if you reinvest it back to Bitcoin instead of trying other coins because you know that not every altcoins will be the same as Bitcoin. You might be gambling here if you don't know what type of project you are trying to trade although, it's your choice though if you want to trade other altcoins then it's up to you. Just be careful with the pump and dump coins or you will surely hold a bag of shitcoins. Jump to: