Topic: How do you make `Trading` profitable? (Read 830 times)

This is my long-standing question - How do you make Trading profitable?

Now let me explain the point:

I am doing trading in shares, stocks, commodities and cryptocurrencies since last few years. Most of the concepts related to trading such as Trend Analysis and Fundamental Analysis were part of my professional course which made me interested in trading since I was student. Over the years I have been able to read trends accurately many times and bought cryptocurrencies at times immediately before upward trend. But one thing is still mystery to me, when to sell?

For example, around 10-12 days ago, I accurately predicted the upcoming rally in bitcoin price and long 0.50 BTC at the leverage of 25x @ $9150. Two days later, price rose to $9350. I already made 56% return on my investment in just 2 days. Now this is critical point where I always become blank. Once I made profit, I couldn't predict whether it is good to sell or hold for more profit. No matter what I do, I always make wrong choice. Actually I sold my futures at that day but imagine if I didn't sell, my investment would be up by 538%!! Imagine the profit of 538% in just 10 days!!

Same things happen opposite too. Lots of times, I keep holding coins due to FOMO and lose the chance of making profit. Suppose if I would still be holding my futures and didn't sell them today, price may fall again tomorrow and I may have lost the chance of making 538%.

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

You're not in this alone as I'm still finding it difficult to get my predictions right too either I'm some Satoshi late to buying or some Satoshi early to selling. Late week I bought some coins very late and sold very early too. This trade wasn't a profitable one but since I sold too early i missed out on cutting my lost by almost 20%. Looking at the coin now it's almost -150% down which is a relief since assuming I decided to hold unto my investment, I would have made more lost then what I exited the market with.

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

In general terms, when it becomes more profitable in trading is basically when the balance is always positive, no matter how many losses there are, what matters is that the profits are greater than the losses, that is why the losses must be cut immediately, and The profits lengthen them, generally, the traders do the opposite.

In my opinion, the best way to make profit from trading is by selling coins when it reaches the target we have set. If indeed the price
continues to rise when we have sold the coins, there is no need to be disappointed, the most important thing is that we can enjoy the
profit, even though the resulting profit is not optimal. Instead of following our greed by delaying taking profit, and finally the price of
the coins is dumped, we are more disappointed to lose the opportunity to make a profit.

I know right, that’s how it feels, we always want to have everything. There is a topic in this forum that says – Less profit is okay.
And yes the topic is right, getting less profit is okay, you should be happy that you even got over 50% of your investment when there are people seeing the opposite (losing more than 50%).

So don’t be worried about what you have missed, you should learn to be contented with what you have got and then prepare better for the next time when you will be in that position again. I am a long term trader and I prefer it to short term, it works for me perfectly.

I trade btc/usdt most of the time, and rarely I jump into some alt, mostly for short run. With bitcoin it's easy, it always recover, so what you should do is simple, buy when it's red, and sell when it's green. You need just a few things to master this, patience and self control, first because you will buy red but not the bottom, so you need to give it time to recover, second don't cut your loses, add more if price dips.
In trading like in gambling majority lose most of the time because of the wish for fast profit, greediness is what eats your capital. Learn when to stop, even if it's low profit! If you push (what I do sometimes) you can't blame the game if you lose (which happens to me many times).

Only a trader who has a crystal ball can set such a task to sell at the highs and buy at the low. Everyone else should be content with what the market currently gives them. If you have completed the task set for you, then you should get satisfaction from the transaction, regardless of where the price goes next.

To make profitable with trading with simple choose buy and selling on good moment, many trader always late for buying some coin after break out to higher price and looks late when buying, but always early for selling their assets before price most expensive.

Some people are wrong about considering trading as a money generator and take profit on it but they never quite instead the keep trying and finally make it right. Trading won't just easily work but having more experience will gladly enhance our capability and this is only a tool to make trading completely profitable.

There's no such thing as risk-free trading, and no guarantees that we will be getting profits as well due to the unpredictable conditions of the cryptocurrency market. It's pretty simple though, just simply buy low and sell high based on the TAs from the trading experts (especially the support and resistance level).

At the end of the day, it's still all about money and risk management that we really need to implement. Once you place the buy or sell order, you must understand the risks that you're taking because the market condition is unpredictable and it'll sudden change in any minute or so due to high volatility.

Honestly if there was one way to do that it would have been awesome but there is so many ways and sometimes they are all wrong and sometimes they are all right sometimes some of them are wrong and others are right and the other days the wrong ones becomes right and the right ones becomes wrong.

So, there is really no way that people could know exactly how to make money...

You're not doing anything wrong. That's just how trading works. Your best bet would be to get control of your emotions. What happens in trading is that, whenever you're in profit, both greed and fear starts setting in.

- Greed: you think it still has a lot of room to grow and don't want to leave money on the table.
- Fear: you have second thoughts that it might just go negative as volatility is on the high side and might easily flip to a loss

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Trading isn't just about reading charts, doing technical analysis etc. Your emotions plays a vital role too.