Topic: Don't lose your profit unnecessarily - page 7. (Read 763 times)
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.
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
^ If you did this for years you have hit a double profit if you have profited in trading but you missed taking out because you believe that there will be more to come and you are right, from holding cryptocurrency you already gain profit, and from trading, another profit. Once you are holding a cryptocurrency as your gained profit, it will become more profitable while waiting and there is a bull run come, not unless if you are converted it quickly into cash. taking profit at once it seems you are quitting in trading, I take profit once there is and leave the capital, probably that is a good way to continue your activity and not fully stop. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
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
Your current view of the market is the correct one, when a trader losses their money they are always trying to make up for that loss with the next trade, and this is the incorrect way to go about this, even if you obtain profits that can cover your losses, it does not change the fact that you lost that trade, that is forever set in stone and no amount of profits can delete this fact, what must be done is simply see if you followed your system, and if you did, then you just assume this is the price you have to pay for being a trader, but if you did not followed your system then you need to wonder why this was the case and then try to fix it. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
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
I personally tray to take every day on its own, some days i will set myself to a certain goal and if i reach it i stop and if i don't i don't linger about it too much, at the start i was really focused on my overall cap and i was trying so hard to grow it quickly and therefore when i get a loss i try to increase my trades to recover it and i end up losing more, but after a while i stopped thinking about it that way and i started treating everyday on its own, even if i suffer huge losses i would come back the next day with positive mind set and i would be happy to make even a dollar of profit. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
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
Things inside my mind when it comes to profits is that i dont really stress out myself on looking back into those losses or missed profits because it would really just distract you out if you do really let yourself get stressed on whats on the past. Be mindful on how you would be making yourself profitable with your next trades and this thing you should bare in mind because this isnt a race but rather being sustainable because this isnt something that you could only make 1 profit and 1 losses.This is continuous and just moved on when you do commit mistake.Thing here is there you do learn despite of those losses and make yourself even way more better. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
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.
The problem is missing out exact peak or exact reversal points.What you are saying is practically possible as it is not about trying to make profits on both ups and downs but it is about booking at peaks and then buying back at bottoms when available. Honestly I have tried these for my altcoins but not with bitcoins as I am scared about unexpected jump after I book profits for my bitcoins.
Even we are not catching exact peak will not be a problem but if market shows another round of rally just after booking profits then I guess all the efforts of long term holding will end in vain. So, I am not into such practice at least for my bitcoins.
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 always good to take profits when you see its enough profits in just a short period of time, because to be honest based on my experience you will end up losses wherein if you will expect too much from the hype of the market, it's totally not really safe especially for day traders. So much better to take what profits you already made from it than waiting for it to be vanished and forced you to keep holding which is a bad idea. We need to be smart on this kind of market thats what i can say. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
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
This is a good ideology where you see all your trades as absolutely independent and figure out profit and loss of each trade independently, this not only gives you a fresh mindset while entering each trade but also ensures that you cut your losses on time and take profits timely too. But what I have experienced in my trading is that no matter what you should always try to ensure minimal interaction with your trades once you have entered, which means you should not change your TP & SL once you have entered the trade, if you want to take profits early set a nominal TP so it gets hit quickly but if you keep on changing it in longer-term you will close your profitable trades for less profits and hold onto your losing trades. What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
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.
Any profit gone, is gone and can't be retraced. Another profit that comes up is a different one and can't be treated as profit missed. Apart from the problem of most traders not using the Stop Loss (SL), not taking profit and allowing it run is another. For me, I try to break even once in profit. I hate watching my green turn into bloody red. Once in profit, I secure it. Traders should learn how not to be (over) greedy. Quite all right, there's nothing wrong in trying to get in more profit on a winning trade but overdoing it is bad. It's same way that being ambitious is good but being ovatly ambitious is bad.I try to take like 30% or slightly above it on any winning trade and then allow the rest run until I'm sure it's juice is dried up, so to say.
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.
In general, you need to be very careful with a profit. This is a very thin line between profit and loss, and it is important to feel it.
Actually, it is not much different if using the scalping trading method, obviously taking profits early and determining the target price to take is a common way as it should be. However, scalping without a good knowledge base will actually make the trader doubt where he should take a profit point and where he will be back in line with the hope of the next increase as he expected.
Every novice trader really wants to quickly take profits, so that the coins he trades are profitable.
Every novice trader really wants to quickly take profits, so that the coins he trades are profitable.
I just take profits whenever it comes to me, except when it's bitcoin because it's intended for long holds. 5% or 10% increase is still a profit, and it adds up in the long run. I've also learned this the hard way, ad I refuse to take profits lower than 10% back then and always ending as a bagholder or just forced to sell at a loss even if I don't want to. Since then, I learned to appreciate small rises and profits, and if I deem that the coin will no longer make a push upwards, I won't be greedy and just take any profits I get.
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
What way do you take your profit ?
Or you feel the regained profit is same profit that you lost
Jump to: