Thread closed but will be continued here: My Bitmex trading diary https://bitcointalksearch.org/topic/a-traders-diary-my-bitmex-journey-5140545
Topic: Take Profit or keep the position open? (Bitmex) (Read 4348 times)
I would take profits if I were op then buy again if the price goes down. The odd of price going up further in this current market is low. Many traders would even sell at that range.
Your liquidation price is quite safe at that level... Not a guarantee though
Your liquidation price is quite safe at that level... Not a guarantee though
Went long again at x8.5 with 50% of my balance yesterday - have not been disappointed.
Wow. That move is quite risky, 50% of your balance is too big for opening a position in Bitmex, you didn't disappoint but if you will do that in your future trades it's super risky and not advisable. Do get too comfortable in your profits, since you already on profits and you can do the 50% trade from your balance.Yeah you are right with that, it really is not advisable. I only did it because i was pretty sure about my liquidation price and my whole balance is "considered lost" from the start.
I don't expect any profits from this journey at all - I figured out it helps to overcome emotional descisions.
Has anyone wondered to open a 2nd Bitmex account?
I have tried this since you can't do two positions in one pair at the time in Bitmex. You can use the referral link from your main account to create your 2nd account to gain a small commission.
Thanks for clarifying this! Nice, i am going to try this.
Update:
Currently i am long at x13. Entry price was around 5250$ (yeah i was a bit optimistic after the sudden rise to 5470$ some days ago
) so i need to be patient again.Balance hasn't really moved since last time.
Went long again at x8.5 with 50% of my balance yesterday - have not been disappointed.
Wow. That move is quite risky, 50% of your balance is too big for opening a position in Bitmex, you didn't disappoint but if you will do that in your future trades it's super risky and not advisable. Do get too comfortable in your profits, since you already on profits and you can do the 50% trade from your balance.Has anyone wondered to open a 2nd Bitmex account?
I have tried this since you can't do two positions in one pair at the time in Bitmex. You can use the referral link from your main account to create your 2nd account to gain a small commission. 
If there is a sustained rally & market sentiment is very positive, the interest paid for holding leveraged long positions might get very high,
so in such a scenario if you still want to keep your long position, you are better served doing it via futures instead of the perpetual swap...
so in such a scenario if you still want to keep your long position, you are better served doing it via futures instead of the perpetual swap...
Bitmex always risky for traders. If you can get profits then just try to closs your position. Otherwise you may get loss very quickly.
I am agree with you. What necessary to do to not out from games of trades quick is to make real targets for your founds there. If you set like +50% you may wait for long and skip the opportunity of fast and constant profit. But, normally, it is going to be small.
Easy targets and cool heads are the factors that lead us to trading success.
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).
That $3500 is near, if the flash dump will happen, don't be comfortable. If you already happy in your profits, then you can take it and enjoy the day, but if you are still greedy or want more, it's okay. Just set your take profits/stop loss.If you were not forced to pick up your profit since it is far far away from 3500 you could have continued a bit more, not to wait until 20 thousand or something of course but to at least see how the market is reacting, maybe it could have gone even further up.
Anyway kudos to you because you hold off and finally it paid off, it has been a long time since we all saw someone profiting so obviously because market has been horrible for over a year now, it makes me feel hopeful once again about crypto in general and specially bitcoin to see these kinds of profits yet again, we have all missed these days and hopefully we will have many more days like this soon.
As long as you don't end up in a loss then that's ok. Though i might have done it differently but that' just me lol. Yeah hopefully we sustain this momentum. People are really optimistic about the situation and are already talking about bull runs and all time highs 😁
Wow, this weekend was a pure rollercoaster! 
I even shorted twice for the first time on saturday; the candlestick patterns were quite obvious. I only used a small balance and high leverage at that point.
Went long again at x8.5 with 50% of my balance yesterday - have not been disappointed.
Regarding our "dilemma" of taking profits or not:
Has anyone wondered to open a 2nd Bitmex account?
I am thinking of doing so to run a long position at low leverage and keep it open until moon / lambo.
Edit:
I took profits today and currently am in a long position; x15 leverage with 15% of my balance. Looking for quick profits near 5300$ again.
I even shorted twice for the first time on saturday; the candlestick patterns were quite obvious. I only used a small balance and high leverage at that point.
Went long again at x8.5 with 50% of my balance yesterday - have not been disappointed.
Regarding our "dilemma" of taking profits or not:
Has anyone wondered to open a 2nd Bitmex account?
I am thinking of doing so to run a long position at low leverage and keep it open until moon / lambo.
Edit:
I took profits today and currently am in a long position; x15 leverage with 15% of my balance. Looking for quick profits near 5300$ again.
Bitmex always risky for traders. If you can get profits then just try to closs your position. Otherwise you may get loss very quickly.
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).
That $3500 is near, if the flash dump will happen, don't be comfortable. If you already happy in your profits, then you can take it and enjoy the day, but if you are still greedy or want more, it's okay. Just set your take profits/stop loss.If you were not forced to pick up your profit since it is far far away from 3500 you could have continued a bit more, not to wait until 20 thousand or something of course but to at least see how the market is reacting, maybe it could have gone even further up.
Anyway kudos to you because you hold off and finally it paid off, it has been a long time since we all saw someone profiting so obviously because market has been horrible for over a year now, it makes me feel hopeful once again about crypto in general and specially bitcoin to see these kinds of profits yet again, we have all missed these days and hopefully we will have many more days like this soon.
Hey folks,
i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?
I thought about leaving it open, since my estimated liquidation price is around 3500$ 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
According to my trading experience I would like to take profits. Cause anytime price may drops a lot and I know that somethings is better than nothing. So try to book your litte profits and be happy. 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 what we call a trading dilemma. It's a tough decision, that's why we need to have both entry and exit strategy. At least if this is place, you don't have to questions yourself whether to get out or not. Don't worry about missing the hype train, it will come again, at least this is already instant profit right in your face. And we all know that we don't know if this hype will continue or not, nobody can tell, unless you can see the future. At least with this strategy, (hitting your exit plan), you won't have regrets or disappointments.
It`s a dilemma that we face with almost everyday. It`s not smart to listen others, always have some plan. In recent days price went 20% up, some people got out on 10%, some waited more and they missed a good exit point.
I agree with you that people shouldn`t worry, train will come again. People should learn how to spot good in and out entries, from there everything is easier.
You can't earn all the money. Play inside the week. Come on rollbacks. If the exchange is now paying a percentage for being in a position, you can sit. It will start to pick up, this is a bad signal, many will start closing long. High probability of being in the flat for a long time. $ 4200-5200. Leverage commissions can eat profits. 
This is what we call a trading dilemma. It's a tough decision, that's why we need to have both entry and exit strategy. At least if this is place, you don't have to questions yourself whether to get out or not. Don't worry about missing the hype train, it will come again, at least this is already instant profit right in your face. And we all know that we don't know if this hype will continue or not, nobody can tell, unless you can see the future. At least with this strategy, (hitting your exit plan), you won't have regrets or disappointments.
was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?
It depends on my target before I entering the trade, I am already making my risk:reward ration, so even if that kind of spike, I still take profit and nothing about that since your target reached.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).
That $3500 is near, if the flash dump will happen, don't be comfortable. If you already happy in your profits, then you can take it and enjoy the day, but if you are still greedy or want more, it's okay. Just set your take profits/stop loss. Well I took profits and usually I don't use my whole balance on one position / entry point.
Last evening was insane.. Watched the market jump to 5180$ 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? 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:
Currently i'm trying to ride the waves. I have plenty of spare time so i'm watching the Bitmex chart & oderbook frequently. Since i don't want to go short at anytime, i'm waiting for upward movements. I don't have an actual strategy on this one (don't hate me!
) since i just want to play around. But yes, i am always looking for good re-entry points.My balance decreased a bit: 0.071
Oh and just to be clear guys: I'm not looking for any advice, i will always place positions based on my own decisions. I am just curious how others are managing their Bitmex accounts.
Another question popped up:
I opened a position last night at x9 leverage. When i woke up, it was at x13. I knew it varies a bit from time to time, but this is quite a big spread. Where does this come from? Can i affect this by myself?
obviously I myself will also benefit by seeing that the market price is now getting healthier, because for me now it is also good that we can trade, because now the market price rises every day at a better price.
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 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 reminds me of that old quote "If you fail to plan, you plan to fail"
Like with any exchange, you need to have a solid trading plan. Don't just leave it open and hope for the best. Have preset guidelines for yourself on when and how you are going to take profit.
Here are a few questions to get you started:
What was your risk reward when you entered the trade?
Do you have indicators for taking profit like RSI for example?
Do you exit at support or resistance?
Do you use fibonacci retracements?
What percentage of the position do you exit at each level?
Or maybe you just use a trailing stop.
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.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
Judge according to your own observations just use opinions as your basis before concluding anything.
Bolded part.
This should be always the thing on our mind when we do trade or do make decisions. Concluding basing on our analysis and observations.Taking some advice isnt bad but
not fully relying on it but it can also be a good preference for you to add it up with your analysis.
It will depends on your strategy and how much time you got to keep on updating the news, if you aim for long term then just leave it, but uif you want to take profit and rebuy when its low then you need to keep on watching the news and speculate through the chart, for me its better just to leave it, I believe the piece will go up higher again in the future
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? 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:
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. 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
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.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
Judge according to your own observations just use opinions as your basis before concluding anything.
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. 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
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. 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
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 $4900 again, so it is best you still leave your position open probably for some months more, although it still totally depends on your own objective but I think Bitcoin will continue to run on this lane for a while, there might be series of fluctuation we will see like the ones we are seeing now, every low price Bitcoin tested prepares it for a greater price.i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?
I thought about leaving it open, since my estimated liquidation price is around 3500$ 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
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 $5035 before dropping a bit low again to pick the next upward value.
So many kind and constructive posts, thanks @ all!
Actually I closed the whole position yesterday @ 4700$.
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
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 $4900, so I am still looking for the best spot to buy back again and I do hope I don’t get locked out, though I only sold certain portion of my BTC and not all.Actually I closed the whole position yesterday @ 4700$.
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
I closed the position again now. I am going to wait and see how the market moves.
To be honest: i'm more like a gambler myself, too!
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.
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
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 $4900, so I am still looking for the best spot to buy back again and I do hope I don’t get locked out, though I only sold certain portion of my BTC and not all. Actually I closed the whole position yesterday @ 4700$.
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
I closed the position again now. I am going to wait and see how the market moves.
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
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:
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. 
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.
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.
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.
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 $9000, so I think you can take profit for now and come back to the market in 1 month.
So many kind and constructive posts, thanks @ all!
Actually I closed the whole position yesterday @ 4700$.
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
I closed the position again now. I am going to wait and see how the market moves.
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
I closed the position again now. I am going to wait and see how the market moves.
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. 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.
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.
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.
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. 
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.
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.
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?
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?
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.
Taking the profit out from your success is also important because if you only trust your investment like in this cryptocurrency field there will be a lots of possibilities to you lost your money so I think if you are getting your convenient Prophet don't put it again in the same field it will not be a good idea also.
Well, the decision on whether to take profit or hold for a while is up to you as is some how not rational for one to take someone advise in making such a delicate decision.
The most important thing is never to be greedy. Often this does not lead to anything good. The most important thing is that you have already made a profit and do not risk it because of greed. Learn to control yourself and sell on time.
I don't see holding as a greedy mind set since there people who are long term investor. 
It's a tough call on this one--nobody knows if bitcoin is going to stay at these prices or sink back to the god-awful range it was trading in for the past 8 months or so. Personally, I would just hold what you've got. I've always thought that bitcoin would break out of the range and go much higher. This could be the beginning of that or it could be a false pop.
What you can be sure of is that you made a profit if you cash out now, and there's nothing wrong with taking your profits off the table. Every trader does it at some point, and I think it's healthy for the markets. The obvious problem you face is that if you sell now, you might miss out on making a lot more. That's why I'd say sit tight and hope for the best.
What you can be sure of is that you made a profit if you cash out now, and there's nothing wrong with taking your profits off the table. Every trader does it at some point, and I think it's healthy for the markets. The obvious problem you face is that if you sell now, you might miss out on making a lot more. That's why I'd say sit tight and hope for the best.
The most important thing is never to be greedy. Often this does not lead to anything good. The most important thing is that you have already made a profit and do not risk it because of greed. Learn to control yourself and sell on time.
If you do not have time to constantly monitor the price, it is better to put take profit. But if there is time, watch. I would even advise you to use stop loss. When the price goes up, you can just move it higher and higher and then you will not miss the moment of sale.Also you will always be in profit.
I think it would be better to take profits and re-buy later when the price drops again. We can't say that the bull has started and it would continue to increase. It may fall back again.
You need to set a target in advance for your actions. In particular, if a leverage is used, these transactions need to be closed immediately when a certain profit margin is achieved. The price fluctuation experienced today caused all long positions to explode, as we can imagine, and regretted all investors who wanted to achieve a profit margin outside their targets. Therefore, it is definitely the most reasonable option to close the positions and enjoy the profit margin when the transactions are achieved.
Taking your profit now will be better than never because you still don't know how long the price will stay at a price now but it's up to you, and I hope that after you make a decision, you will not regret it because no one knows what will happens tomorrow. But so far, I see that the candle still on the green although the price is down for now, but it still good to increase again. Still, these situations make us think twice, to cut the profit or still on the open position. But if you are sure that the price can increase in tomorrow, then you should leave it on the market.
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 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've already gained 50% profits from this huge spike. Even though there are regret feeling because I already exit the price before the huge bull run, at least 50% profit is enough for me. Too much greed is also too bad in trading.
Anyway, set stop loss already. Though your liquidation price is too far from the price now, do not underestimate the market! It can easily liquidate your entry if you will leave it open. Better to set an exit price.
Goodluck on your trading!
You should have taken profit already by now. A correction is imminent.
You're probably right with that - still i was thinking of leaving it open since it's only a small part of my investment.
I sold about 35% of my position @ 4750$ now. Hope i can buy back at around 4400$ - would you consider this a good re-entry point?
Glad that you have made some profit already, but I think it will be wiser if you sold more than 50%. I always do sell at least 50% of my coin when there is a sudden pump and leave the 50% for preparation just in case there is another pump coming. Actually if you bought it when it was 4,000-4,100 then it is a nice profit already if you sold it all at 4,750. Now it is around 4,600, still a nice time to sell it now if you think that it will go down to 4,400 in the next some hours.
Thank you, i'll take this idea into consideration.
Yeah my entry point was pretty much at 4000$. I'm unsure to close the whole position since i believe that i can't get such a nice entry point again.
But you guys are probably right, i should take the profit and wait until the market has normalised again.
You should have taken profit already by now. A correction is imminent.
You're probably right with that - still i was thinking of leaving it open since it's only a small part of my investment.
I sold about 35% of my position @ 4750$ now. Hope i can buy back at around 4400$ - would you consider this a good re-entry point?
Glad that you have made some profit already, but I think it will be wiser if you sold more than 50%. I always do sell at least 50% of my coin when there is a sudden pump and leave the 50% for preparation just in case there is another pump coming. Actually if you bought it when it was 4,000-4,100 then it is a nice profit already if you sold it all at 4,750. Now it is around 4,600, still a nice time to sell it now if you think that it will go down to 4,400 in the next some hours.
I think it's better to Take Profit of course. A profit is a profit. Good thing you are on the green side, right now, I'm not on that side, it's definitely not a good feeling to feel.
I have a new point of view that a Stop Loss is a Stop loss too. To prevent eventually having more losses. It's really sad but that's just the reality now. I don't know what to feel anymore. You just have to move on and do more.
I have a new point of view that a Stop Loss is a Stop loss too. To prevent eventually having more losses. It's really sad but that's just the reality now. I don't know what to feel anymore. You just have to move on and do more.
That is the fun part of trading.
A fun part? More like the rebuking part of trading. With this kind of trend we're having. I think it's best for you to watch the current market whether you sell or hodl. We don't know yet if this is a bull trap or something. But, if you're happy with your win, it's good for you to sell. Yes, it is fun. After this whole bearish market that has been taking for months now the price is now surging. The fun thing in this kind of event is the profit that you will be taking depending on how well you play in the market.
Bull trap or not profit is still what I want and other traders too. As of now, I think there is some correction going on.
That is the fun part of trading.
A fun part? More like the rebuking part of trading. With this kind of trend we're having. I think it's best for you to watch the current market whether you sell or hodl. We don't know yet if this is a bull trap or something. But, if you're happy with your win, it's good for you to sell. You should have taken profit already by now. A correction is imminent.
You're probably right with that - still i was thinking of leaving it open since it's only a small part of my investment.
I sold about 35% of my position @ 4750$ now. Hope i can buy back at around 4400$ - would you consider this a good re-entry point?
You should have taken profit already by now. A correction is imminent.
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?
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 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
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