Newbie - when to take profit | Bitcointalksearch.org

Bitcoin Seller

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Quote from: Ewox on September 17, 2019, 08:39:25 PM

When I started doing trading a few years back what I usually do is I take the profit and leave the capital behind and just hodl. But I made sure my profit increases at least 90% or at least the same amount of capital I placed on the trading site. And a few years after it’s still there, didn’t even withdraw the rest of the amount. we traders do have different tactics on how to go about our trading, and I do hope you make the wisest decision too.

Probably, newbies should better hold crypto and learn more about the market before. In order not to miss a profit, it’s enough just to own the basics of technical analysis of financial markets, which will allow you to choose the right benchmarks and calculate the transaction for the maximum efficiency of your investments. Take profit is the thing you should do at the nearest resistance level or near it.

maydna

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Quote from: Lanatsa on September 17, 2019, 04:21:34 PM

Quote from: maydna on September 13, 2019, 07:42:17 AM

Quote from: tadpole_bitfrog on September 13, 2019, 01:06:57 AM

Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

Without learning, someone can't make a profit unless he always gets lucky in the trading. When we can learn from many tutorials, we will have the skills to analyze the chart which will help us to get the right price to buy, although we need more practice to get a higher chance. If you can practice every day, then I guess it will no need to a long time to improve your skills because you get the experience with practicing trading.

You should also know that the market will not have the same pattern in every day, so you need always to analyze it before you decide. If you can see the price start increase, then that is the time for you to prepare in the sell order and place your price to sell.

I cant deny that we do need some sort of luck when we do trade but it isn't a dependable thing for you to rely on because its totally different when you do trade according to your knowledge rather than relying on luck in terms of results because it would really act just like you are making some gamble.Learning would really take some time and it cant be achieved overnight.Success will vary on how you do hardly work on it and if you do make yourself learn all the possible things you would able to obtain then expect for you to somehow able to survive this very unpredictable market.It wont be easy but at least it is possible it depends on how hardly you work for it.

Of course, we need luck in trading too like what we need in gambling Grin

Luck will come at the right time, especially if we can analyze when the market changes the price. It is possible to take the profit even for a newbie who was still learning about trading, but they still need to have the experience to make more profit.

By trying more and more in trading, slowly they will know when they need to make a profit and when they need to wait for a while to get a bigger profit. Besides that, they will know when they need to leave the market if the market is not moving or seems to get stuck on that day. So they can save their money for another trade.

Ewox

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When I started doing trading a few years back what I usually do is I take the profit and leave the capital behind and just hodl. But I made sure my profit increases at least 90% or at least the same amount of capital I placed on the trading site. And a few years after it’s still there, didn’t even withdraw the rest of the amount. we traders do have different tactics on how to go about our trading, and I do hope you make the wisest decision too.

ufaiz50

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Take profits and leave it, looking for lots of profits will only give you more anxiety over the market, you can also still hold bitcoin and do market trend analysis that will increase your knowledge rather than waiting for the market. my advice is more to take profits because newbies need good experience on the market this will spur you to trade ( isee in terms of psychology).

Jellachrist

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Business is all about risk likewise trading the higher your risk in most cases the greater your profits so it all depends on individual decision either to a higher or lower risk but trust me high risk takers are always on top while the rest follows. Although am not too vast in trading just using the idea of centralized businesses.

PuertoLibre

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Quote from: bitcoinst on September 12, 2019, 06:34:01 PM

First you need to decide on your strategy. Trading is now a very dangerous business, study the charts. You will quickly understand how the market works, with what periodicity they knock out stops, and in both directions.
All you need to do is learn to predict the next action of the market, and it is very difficult.

How to read the charts if the newbie doesn't have seen 5 charts together since he started the crypto trading? Before thinking about making money with crypto trading, learning the market patterns and using these patterns for predicting the next market trend is crucial. It is difficult to trade the volatility in the crypto market wihout the proper background and money management skills in my opinion. Without the trading skills, the trading experience will turn to the survival game which will lead to the starvation in case of wrong trade series. Predictions can be traded by the experienced traders, the newcomers have to go through the market patterns before they start to trade based on personal forecasting.

Lanatsa

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Quote from: maydna on September 13, 2019, 07:42:17 AM

Quote from: tadpole_bitfrog on September 13, 2019, 01:06:57 AM

Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

Without learning, someone can't make a profit unless he always gets lucky in the trading. When we can learn from many tutorials, we will have the skills to analyze the chart which will help us to get the right price to buy, although we need more practice to get a higher chance. If you can practice every day, then I guess it will no need to a long time to improve your skills because you get the experience with practicing trading.

You should also know that the market will not have the same pattern in every day, so you need always to analyze it before you decide. If you can see the price start increase, then that is the time for you to prepare in the sell order and place your price to sell.

I cant deny that we do need some sort of luck when we do trade but it isn't a dependable thing for you to rely on because its totally different when you do trade according to your knowledge rather than relying on luck in terms of results because it would really act just like you are making some gamble.Learning would really take some time and it cant be achieved overnight.Success will vary on how you do hardly work on it and if you do make yourself learn all the possible things you would able to obtain then expect for you to somehow able to survive this very unpredictable market.It wont be easy but at least it is possible it depends on how hardly you work for it.

maydna

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Quote from: tadpole_bitfrog on September 13, 2019, 01:06:57 AM

Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

Without learning, someone can't make a profit unless he always gets lucky in the trading. When we can learn from many tutorials, we will have the skills to analyze the chart which will help us to get the right price to buy, although we need more practice to get a higher chance. If you can practice every day, then I guess it will no need to a long time to improve your skills because you get the experience with practicing trading.

You should also know that the market will not have the same pattern in every day, so you need always to analyze it before you decide. If you can see the price start increase, then that is the time for you to prepare in the sell order and place your price to sell.

tadpole_bitfrog

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

bitcoinst

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First you need to decide on your strategy. Trading is now a very dangerous business, study the charts. You will quickly understand how the market works, with what periodicity they knock out stops, and in both directions.
All you need to do is learn to predict the next action of the market, and it is very difficult.

muhhentuhhen

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Quote from: Herry Toms on August 28, 2019, 05:36:09 AM

Taking profit is not that easy as you are saying. Until you are not making 3x of your stops loss then you are not going to make money on a consistent basis. The best way to make a profit is to let the market decide where to exit, sometimes we miss bigger trades because of fear, so it's important to overcome your fears and observe the market from a natural perspective. Taking big profits when the market makes it available is important.

Cut your losses short, let your profits grow. (Simple is that)

The most common mistake of novice traders and investors is that they want to take profits at the maximum price movement. They want to take from the price and sell the crypt exactly before turning its rate down. This kind of desire usually leads to the fact that the trader misses the opportunity to sell at a good price, and is forced to observe how the price rolls more and more down, taking with him all the earned profit.

mrBTCman

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I would join Xampeuu's words and agree that profiting depends on how you plan to invest — long or short terms. And also, from myself, I would recommend using tools that may help you in your trading path. No, I'm not talking about trading bots (there are different opinions on using them for now). Currently. my trading tool is a bot that allows tracking market situation and price changes. Like CEX Info Bot — https://t.me/CexIoInfoBot. I think it's quite a practical and helpful bot, and it has become the number one for me.

lixer

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Quote from: ?? on ??

I'm really interested in knowing the answer to this as well. When do you take profit? How can you tell?

Nobody will be able to tell you when you should take your own profit, if you are to get advice, you will get different answer because we all have our own different goals, expectation and strategy. You are the one trading and you will be the one to personally know which profit will be enough for you after you have put into consideration all the risk that are in the market.

It is believe that every trader must set a goal, you either set that you will take profit when you see 1%, 5%, 10% or any other percentage that you feel deem fit, but it is always advisable that you set percentage that you will be able to take on time and not lose out of greed. One of the easiest way is just for you to make use of the stop loss and take profit tool, set your profit not to be too high so that you don’t always miss that opportunity, it is better you take little and trade many times than to wait for big profit and not make any on time.

Yamifoud

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Quote from: Herry Toms on August 28, 2019, 05:36:09 AM

Taking profit is not that easy as you are saying. Until you are not making 3x of your stops loss then you are not going to make money on a consistent basis. The best way to make a profit is to let the market decide where to exit, sometimes we miss bigger trades because of fear, so it's important to overcome your fears and observe the market from a natural perspective. Taking big profits when the market makes it available is important.

Cut your losses short, let your profits grow. (Simple is that)

How long that you've been in trading? I've never think that you are just new in here cause you know a lot at your position (Newbie).
And you are right, we should take advantageous in every opportunity we've seen through. Conquer those fear and doubts to have a comfortable trading life. Will not be enough, we have to focus of what we are doing and keep learning while trading. We can surely gain more knowledge base in our experience.

Herry Toms

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Taking profit is not that easy as you are saying. Until you are not making 3x of your stops loss then you are not going to make money on a consistent basis. The best way to make a profit is to let the market decide where to exit, sometimes we miss bigger trades because of fear, so it's important to overcome your fears and observe the market from a natural perspective. Taking big profits when the market makes it available is important.

Cut your losses short, let your profits grow. (Simple is that)

hahay

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I think he bought when the price of bitcoin was around 8k at the time and even though at the moment the price is declining but it's still a good profit from what was expected. So, now it is up to you to make a decision how much profit you want to get from your investment.

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Quote from: Houdini76 on June 14, 2019, 04:39:45 PM

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

When I m a newbie before I started to get my payment after the compaigns end. It's really exciting to have a first payment. I really must have a chance again to be a bounty hunters so that l can have again my payments.

samcrypto

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Quote from: Arkann on August 25, 2019, 10:48:21 AM

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period. Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

Now it requires a lot of sacrifices and need to have more analysis, newbies should know when to trade. Taking profit is a must even if you are a hodler, and i usually do this when the market recovers from the dump price. Trading is about buying and selling but you still need to analyze and know when to do that, that’s the hardest part of being a trader.

Oilacris

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Quote from: Jating on August 27, 2019, 02:09:11 PM

Quote from: Arkann on August 25, 2019, 10:48:21 AM

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period. Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

I would not consider trading as easy for newcomers two years ago. You may consider it easy that time because we are in the final leg of the massive bull run, so obviously the price keeps pumping months and months. So there's a lot of beginners who earn by just buying and then shorting it. But now it is very different and I'm sure that those newcomers are already out of the market in 2018 because it didn't satisfy their goal to be a crypto millionaire year because the market chance a lot.

So beginners today are not that lucky compare to two years ago. Conversely, it could be a good time to trade though in this kind of hostile environment, as least you learn a lot and become reliable and responsible for your trades.

This is actually true,i have seen lots of newbies that do trade up those previous years that getting some enourmous profit because it was just tied up with the bull run event.

They are indeed somehow lucky into those times yet even how newbie or new you are on crypto trade you would still have high chances on making money on just holding up
without doing anything and as you said those good old days had passed and it isn't similar on the current situation we are facing now.

Jating

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Quote from: Arkann on August 25, 2019, 10:48:21 AM

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period. Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

I would not consider trading as easy for newcomers two years ago. You may consider it easy that time because we are in the final leg of the massive bull run, so obviously the price keeps pumping months and months. So there's a lot of beginners who earn by just buying and then shorting it. But now it is very different and I'm sure that those newcomers are already out of the market in 2018 because it didn't satisfy their goal to be a crypto millionaire year because the market chance a lot.

So beginners today are not that lucky compare to two years ago. Conversely, it could be a good time to trade though in this kind of hostile environment, as least you learn a lot and become reliable and responsible for your trades.

Topic: Newbie - when to take profit (Read 3410 times)