Topic: No one has gone broke taking profits, always take profits. - page 4. (Read 869 times)

What your teacher teaches will not always be suitable for all coins and all market conditions, so you have to be careful in determining which coins to trade, namely short term and which coins can be used as long term.
One coin that is quite suitable for short and long terms is Bitcoin because you can sell it at any time when the price has gone up but also keep it longer for better profits or wait if the market moves not according to analysis, while altcoins will be more suitable for short terms and risk not getting a profit because the market is not It's clear that you might also face it, so trading is actually not an easy thing.

Therefore, some traders do not make just one target in planning their trades. If there is planning for target 1, if it is achieved and has the potential to reach target 2, the trader will not release his trading position. and wait for target 2 to be achieved.
trading depends on the trader's satisfaction. Planning in making targets requires good analytical skills. sometimes it can only reach the target price of 1 and a decision must be made quickly to exit the trade before the price corrects again.

However, no trader will always be profitable. Sometimes we forget something which makes us end up having to accept losses.

Of course it is a good thing to take advantage of every trade we make, because everyone who trades certainly wants a profit and everyone has different ways of making profits, but the point is to make a profit, whether a little or a lot of profit and if in a trade that If we have made a profit then we can take it for the reasons we have and can hold it until we get an even bigger profit.

You are right, everyone certainly has a profit target that is different from others and it is very difficult to predict prices correctly so there is no harm in taking the profits that we have got now.

Whether the profits are huge or not, it’s still a good advice to take profits no matter what. Let’s not forget why we decide to trade or invest in the first place, that is to make a decent amount of profits and when we start seeing them in front of us, then I don’t see any reason why we have to delay it, except if you’re still not satisfied with the current profits.

However, we also have different target amount for profits. But we all know how trading outcome is unpredictable and uncertain, so as much as we want to take advantage with the market, then it’s actually a good advice taking profits when it’s already available.

Your teacher is correct in what he has told you, but I will interpret it this way. I am not talking about trading right now, but rather about investing in cryptocurrencies. If I invest in altcoins, mostly shitcoins, I will take profits as soon as I see them rather than relying on imagining profits that I will never receive. If it is a bitcoin investment, I plan to hold for the long term. If possible, while profiting from the altcoin investment, I plan to use DCA to increase my bitcoin holdings.

I agree with this because not all of the time you can take profits. The better is always to have a plan before entering the trade.
For example, you enter a trade on x price, then you take profit in y price and put stop loss in z price.
And last thing you will do is stick with your plan and analyze. Have patience.

Markets move in cycles, so maximizing it through "Buy Low, Sell High" strategy would work perfectly.

The problem is that, there are some investors who prefers holding for long term to the point that they will not sell their coins even they're seeing that they're up 300% or 400% already. There's nothing wrong with that if that's your strategy, but for me, it's just better if you will just sell it when the market is at it's peak, then save some of that money and use it to buy when the bear market starts because after all, the bear market starts a few months after the bull market ends right?

Don't take this because your strategy is different to mine, but I learned a lesson last 2021 bull run already, and this time, I will completely sell all of my tokens when the bull run starts. After that, I'll keep most of it as well, wait for the bear market to happen then I'll Dollar-Cost Average at that time. Take profits, use your profits in any thing you want, but don't forget to keep some of it so you can still have buying power to use when the bear market comes.

I didn't write the thread to talk about the other things, the focus of the thread is to talk about talking profits as we're forgetting how to do that. Everybody is talking about holding but not teaching people how to sell in profits when they're trading. As the market is dipping many traders are trading at a loss due to not talking profits when the market was in green. For those that took profits, they won't be in loss as the market is trading at lost and from what is happening in the market right now, I'm beginning to get the point my teacher was trying to teach me. We're trading because we want to make profits so why aren't we taking profits when the opportunity is in front of us. Traders are suppose to be profit takers and we do this continuously untill we have made big numbers of profits.

Your teacher only focuses on profits, so what if the price position drops suddenly? What steps would you take if you followed your teacher's advice, that's why you need to understand the risks, not just the profits, applying stop loss & take profit is much better and simpler than just hoping you can continue selling and making a profit, the crypto market is very volatile no matter what. could occur

Nobody will lose if they choose to stay strong, buy Bitcoin, hold them, and sell at a high price. But why are many people still losing? Couldn't be surprising they will because not all are able to follow those things, and not all are willing to wait, many we're too impatient. Those who have the mindset to make profits will certainly be making things in the right way and it was shown by some (including you) but as I've said, not all do it in the right way and so missing the chance.

I'd see people quitting not just because they lack of knowledge but it is due of their incapability to handle their emotions.

Selling when you see possible profits is not actually a wrong thing. In fact, the reason why you’re trading or hodling in the first place is to generate profits, and when you see good profits, then that’s the time to sell. Regardless if the profits is just a small amount, I think selling is still valid.

However, if you prefer to hold longer to gain bigger profits, that’s also a wise option to increase your profits. If you don’t need some funds at the moment, then it’s a wiser idea to just hold it longer and only sell when the market gets bullish or when bull run starts to takes place.

op Did you learn about the trade online from the teacher you mentioned?  To trade in Bitcoin you must acquire enough knowledge about trading. If you don't acquire enough knowledge about trading then you cannot trade well. To trade Bitcoin you must have a long term plan. If you trade bitcoin for a short period of time you won't do much good with bitcoin, you must have a long term plan for bitcoin. Patience is of course very important in Bitcoin trading if you are impatient then trading will not be good. Of course you need to have a lot of patience, have a long term investment plan, check the market enough and then trade. Then you will be a successful trader.

Yes, each can give their own views but still it does not mean that all are now correct. So it's not wrong to correct them. I know it can be hard but at least we try. And some can actually listen to us. So sometimes it was only our doubts or thoughts that limit us. As a newbie, going on our own is also risky. We can lose but it will still teach us something and we can use it to improve. Profits are still important because this is the

reason on why we are here. We must not only disregard other factors to be able to become a better individual. As a starter, we can go slow. It's fine but what important is there is a progress. I'm sure all our plans are still going to be fulfilled 100 percent.

It's admirable to start the process of learning about trading, and it's important to keep going even when you feel like giving up. If you have a strong love for trading, don't let other people break you down or stop you from achieving your goals. Trading is undoubtedly a difficult endeavor with inherent hazards, but you can successfully negotiate the complexity and plow your way to constant success if you have a firm grasp of the market and a strong commitment to hard effort and ongoing study.

It's critical to understand that trading requires a significant amount of commitment and work, although many people are succeeding in this industry. Even if there may be people who are skeptical, keep in mind that there are many successful traders out there, and you too may find your place in this exciting industry. People who have lost money in the past may try to convince you not to trade, but you must approach the process with knowledge. Prioritize learning as much as you can before starting your trading career, and make sure you have the tools you need to overcome any obstacles that may come up.

Keep your actual passion in mind and resist the need to give in to confusion. Investing or trading whichever your passion, put your all into the endeavor you have selected. If you feel like trading, make sure you are well prepared and think about setting aside some money, maybe investing in Bitcoin also too.


Everyone wants a steady income if at all possible, but the reality is that due to the volatile nature of cryptocurrencies, trading is not a method that someone can consistently profit from. No matter how successful you are, you will still have days when you lose money, and you won't know how much until it's too late. Instead, if you decide to hold onto your investments for a long time, you will only be targeting the moment when you can take a profit.To be honest, trading and taking profits at any moment are fantastic deals, as is holding, but the reality is that trading entails risk, which is not comparable to merely holding Bitcoin.

Getting advice from someone with more experience than you is generally a good idea. For example, your teacher may have told you about a strategy that worked for him or her.
Taking profits when trading is also a smart decision because not all projects are worthwhile to hold for a long time, and if you attempt to hold onto a project that is worthless for too long, you'll end up regretting it and quitting trading.
There are different opinions here regarding the profitability of holding for a longer period of time over a shorter period of time, but the truth remains undoubted, so take your time, conduct thorough research, and select the approach that you believe will be most effective for you.

        -   The question is how long do you study and learn about bitcoin or cryptocurrency so you can make a profit from it? It will not be possible because you were just told that those are the perfect guidelines to be able to say that what was told to you is correct.

It's different because we ourselves can discover and know things about crypto trading. Second, it is not easy to understand and study trading in a short-period of time, I have been studying crypto trading for more than 1 year and until now I am still studying it while doing daily trade.

If you want to be a part of crypto trading and investment then I will suggest you to not sell bitcoin immediately but try to hold it longer because bitcoin will be suitable option of success if you keep it for longer time. Try to learn well about short term and long term investment because it matters a lot.

There are some people who prefer altcoins more than bitcoin because there is more surge in altcoins price than bitcoin but they forget that the risk is also very higher in a case of altcoins and investment in a single useless altcoin can totally change your decision because after a loss a person don't want to continue the same thing again so choose wisely and also get involved in investment instead of trading.

There's also the reinvestment thing too, you can put your profit back into trading so you can generate more profit for yourself. I can't really attest to that adage that no one has gone broke but wouldn't you not be growing in terms of investing because you keep using the profits for other stuff that don't involve investing? I totally agree that we should take profits but take it in a smart way, don't be taking when you know that the potential for more profit is going to be even higher, take the time to assess before taking that profit, sometimes we're so overjoyed about it that we forgot that we could've made more if we just waited a little bit.

Yeah I took some partial profits before the etf approval. Because when I heard that 95% of people think it’s going to be approved, I assumed it would get rejected. I was wrong here but the price acted like it got rejected.

I don’t think anyone sold when it launched. Many were expecting new ATH or at least $50K. The whales and institutions got out at the top while everybody else held and are sitting at a huge decline compared to selling at $49k pretty much.

Many people got greedy and this is why this happened.

Actually, you do a more honourable thing to the network when you sell than when you hodl. Hodling is good but buying or selling is better. Remember how Bitcoin didn't have any value until the first transaction with the two pizza thing happened? That's right. We only get to know the real value of any asset when buying or selling takes place. It's the same way with Bitcoin. However, it's important to know the right time to buy or sell. Anyone who's selling Bitcoin now should only do it to take profit and then rebuy. Don't just sell and exit the market. Bitcoin is bullish ATM.

That's true. It doesn't become profit until it's taken off the table. Don't look at the screen and count it as profit if you haven't withdrawn it to a safe wallet or converted it to use. Your teacher is right on that one.