Take Profit or keep the position open? (Bitmex) - page 2.

hyunee

full member

Activity: 476

Merit: 100

Quote from: N0sferatu on April 04, 2019, 12:31:35 AM

Well I took profits and usually I don't use my whole balance on one position / entry point.

Last evening was insane.. Watched the market jump to 5180$ while being long with x25 leverage on a small balance. Took profit again and reopened with x10 leverage. Placed a limit order to buy more at around 4800$ - thank God I did this; didn't get liquidated but was 6% up as I woke up.

Some very intense days for me...

Current balance: ~~0.065~~ 0.075

Nice work in playing your balance. Good short term investment for you. Are you just taking profit then after a small dump, you'll regain a position? Is that what you're doing?

playboy654

member

Activity: 546

Merit: 32

Quote from: N0sferatu on April 02, 2019, 01:23:53 AM

Hey folks,

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions

it depends and everyone situation because everyone don't need the prophet in all the time so he had the time to put reinvestment again so at the time you need to hold an and make your position more stable.

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: South Park on April 04, 2019, 12:39:55 PM

Quote from: N0sferatu on April 02, 2019, 01:23:53 AM

Hey folks,

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions

This is something that you should have thought before making your trade, but the answer will depend on what type of trader you want to be and what are your preferences, if you are looking to make trades every day then you could set your charts for a very short timeframe and as soon as you see a strong drop in the price you could sell and then enter again in the market when it is appropriate but if you want to hold your trades for weeks or even months it could be appropriate to keep holding your coins for more time.

Keeping for some time and let it open might be a good options for people who understand and believe this market, there's still lots of possibilities that the market will continue to grow, you have to be more precise with your assessment, it's really hard to decide each time positive movements still ongoing.

Judge according to your own observations just use opinions as your basis before concluding anything.

whirlcoin

full member

Activity: 602

Merit: 111

Quote from: N0sferatu on April 02, 2019, 01:23:53 AM

Hey folks,

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions

I am always trying to get out a profit in all the success because the profit is important for my life to get a convenient Lifestyle so so if my whole investment was losses also I can manage my profit to a good savings.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: N0sferatu on April 02, 2019, 01:23:53 AM

Hey folks,

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions

This is something that you should have thought before making your trade, but the answer will depend on what type of trader you want to be and what are your preferences, if you are looking to make trades every day then you could set your charts for a very short timeframe and as soon as you see a strong drop in the price you could sell and then enter again in the market when it is appropriate but if you want to hold your trades for weeks or even months it could be appropriate to keep holding your coins for more time.

futile-resistance

hero member

Activity: 840

Merit: 516

Quote from: N0sferatu on April 02, 2019, 01:23:53 AM

Hey folks,

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions

For now, I think we may not see any liquidation below $4900 again, so it is best you still leave your position open probably for some months more, although it still totally depends on your own objective but I think Bitcoin will continue to run on this lane for a while, there might be series of fluctuation we will see like the ones we are seeing now, every low price Bitcoin tested prepares it for a greater price.

Bitcoin tested $5400 on third of April before closing below $5000 levels, many people expected it to drop below that but we can see what happened on the 3rd, it finally tested over $5035 before dropping a bit low again to pick the next upward value.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Quote from: BlueStackz on April 04, 2019, 01:24:31 AM

Quote from: N0sferatu on April 03, 2019, 12:03:50 AM

So many kind and constructive posts, thanks @ all!

Actually I closed the whole position yesterday @ 4700$.
Before going to bed, I reopened it, but with a smaller leverage - so I was still up 26% this morning. Yeay!

My balance increased from 0.026 to 0.065 in a matter of 48 hours. Am pretty impressed Shocked

I closed the position again now. I am going to wait and see how the market moves.

Lucky you, I did same thing although I think I did more of gambling with mine, do I say gambling or intuition, I didn’t really make use of technical analysis before setting my trade again believing it will touch the $5000. I think I sold $6725 and stopped monitoring the price movement till it suddenly jumped on me to check my trade, luckily it coincided with the exact time BTC got to $5025, which I closed my trade immediately, shortly after I did, the price dropped below $4900, so I am still looking for the best spot to buy back again and I do hope I don’t get locked out, though I only sold certain portion of my BTC and not all.

To be honest: i'm more like a gambler myself, too! Roll Eyes

especially when it comes to risk management..

As far as i experienced, TA doesn't give me any value except for evaluating mid-term trends. Watching the orderbook and in-depth chart gave me a much better glimpse about what's currently going on. I'm trying to ride the waves as they occur, though i never go short - i'm bullish on Bitcoin at anytime. Cool

BlueStackz

legendary

Activity: 1204

Merit: 1028

Quote from: N0sferatu on April 03, 2019, 12:03:50 AM

So many kind and constructive posts, thanks @ all!

Actually I closed the whole position yesterday @ 4700$.
Before going to bed, I reopened it, but with a smaller leverage - so I was still up 26% this morning. Yeay!

My balance increased from 0.026 to 0.065 in a matter of 48 hours. Am pretty impressed Shocked

I closed the position again now. I am going to wait and see how the market moves.

Lucky you, I did same thing although I think I did more of gambling with mine, do I say gambling or intuition, I didn’t really make use of technical analysis before setting my trade again believing it will touch the $5000. I think I sold $6725 and stopped monitoring the price movement till it suddenly jumped on me to check my trade, luckily it coincided with the exact time BTC got to $5025, which I closed my trade immediately, shortly after I did, the price dropped below $4900, so I am still looking for the best spot to buy back again and I do hope I don’t get locked out, though I only sold certain portion of my BTC and not all.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Well I took profits and usually I don't use my whole balance on one position / entry point.

Last evening was insane.. Watched the market jump to 5180$ while being long with x25 leverage on a small balance. Took profit again and reopened with x10 leverage. Placed a limit order to buy more at around 4800$ - thank God I did this; didn't get liquidated but was 6% up as I woke up.

Some very intense days for me...

Current balance: ~~0.065~~ 0.075

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

That's a thing which only you can decide because it's your money and it's you who should decide whether to take risk or not. According to me, seeing current price at $5000 is a good point to sell since you would be getting a good profit selling at this point. But you never know, the price might rise as well. Grin

You can also use a stop loss and set a higher price like $5500 to take away the profits but keep in mind, the price never goes in one direction. It will surely dump before the next spike takes place and so you should be ready for that.

neonshium

hero member

Activity: 1134

Merit: 515

If you have been in the market since the price of Bitcoin was around $3600, then I would advise that you take out profit for now, though not for so long because we will soon see a growth in the price of Bitcoin again in few months to come.

My major guess is that the main bull run we are expecting in the crypto market is going to take place in the fourth quarter of the year, we should be seeing the price of Bitcoin get to $9000, so I think you can take profit for now and come back to the market in 1 month.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

So many kind and constructive posts, thanks @ all!

Actually I closed the whole position yesterday @ 4700$.
Before going to bed, I reopened it, but with a smaller leverage - so I was still up 26% this morning. Yeay!

My balance increased from 0.026 to 0.065 in a matter of 48 hours. Am pretty impressed Shocked

I closed the position again now. I am going to wait and see how the market moves.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Quote from: alisafidel58 on April 02, 2019, 01:44:07 AM

That is the fun part of trading. You will have to keep wondering when to sell or hold special when there's a sudden price surge. I think you should hold a bit for and wait for a few more hours, it really hard to predict, I too can't decide whether to take profit or hold?

Its like walking in the park, you are having fun but you don't know when to stop or continue walking until you encounter troubles along the way and after facing some troubles, you will think that you should have made a U turn or stopped for a while. This is where you goal setting steps in. If your goal is to reach 10% profit, then sell when you reached it and move on, or step on a trap that it may take time to get away.

the1arty

sr. member

Activity: 756

Merit: 259

Quote from: alisafidel58 on April 02, 2019, 01:44:07 AM

That is the fun part of trading. You will have to keep wondering when to sell or hold special when there's a sudden price surge. I think you should hold a bit for and wait for a few more hours, it really hard to predict, I too can't decide whether to take profit or hold?

Yes, agree on that, that is the most important part of being a trader, to take decisions on fixing profits or losses. Right now pretty exciting times what to do after BTC sudden jump to $5000.

leowonderful

legendary

Activity: 1624

Merit: 1129

Bitcoin FTW!

I almost always take profit on a sudden spike like this. Greed's cost me lots of profit in the past, and while I find it unlikely this is going to be a massive lightsaber/fakeout, we're still in uncertain times as of now and it's still hard to tell where prices will go from here. Attempted dumps have been bought up pretty aggressively recently though, which is a good sign for things to come. RSI's in overbought territory for the 1D as of now, but BTC has very little regard for indicators most of the time.

Isiaka208

copper member

Activity: 411

Merit: 1

The greater part of the problem traders have is not taking profit when due and not taking position when needed. Greed will always come in to distract you but always follow your strategy.

Polar91

hero member

Activity: 1120

Merit: 553

Filipino Translator 🇵🇭

Quote from: N0sferatu on April 02, 2019, 01:23:53 AM

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I just leave my position open but I don't forget about it. I'm still monitoring the support and resistance for the possible direction of the market. Based on my analysis, I think Bitcoin will gain more than what it gained in previous hours.

vit05

hero member

Activity: 672

Merit: 526

I still didn't take profit, but you should if you wanna play buying and selling. I didn't take because I still think that under 6k is just an acumulation zone. And if I would take profit on 4200, I would have never saw 4800.

carlfebz2

hero member

Activity: 2926

Merit: 722

CoinPoker.com

Quote from: mrdeposit on April 02, 2019, 04:01:16 PM

Honestly, it is hard to tell something. But it might be able to get back to $4400, then I do not think it is gonna be any lower than that. Maybe we will wake up tomorrow with a higher price notification.

It might even go back to its previous levels of $4100 but i dont believe that it would go back lower once again with -$4000. Correction on $4400 is possible if we do try
to use up some support and resistance lines or simply TA's.

jhenfelipe

hero member

Activity: 1372

Merit: 647

Personally, I'm still holding mine.Yes there was a spike in price, but it does not meet my target yet. I too believe that BTC price will be higher.

Of course, we are all different (some actively trade, others just hold and wait for their target to be reached). You sold at a price higher than your entry point and that's a good thing, it's always a good thing when you're in profit. Don't regret too much when the price pump more, instead of thinking that you missed the train, think that you already gain profit on the way. Stick on the bright side, regretting won't change anything anyway. So, be happy and satisfied with the profit and wait for a chance to buy back.

Also, you haven't sold the rest, right?

Topic: Take Profit or keep the position open? (Bitmex) - page 2. (Read 4293 times)