Take Profits! Its important! | Bitcointalksearch.org

terrific

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Quote from: Fara Chan on May 29, 2024, 01:44:35 AM

Quote from: terrific on May 28, 2024, 04:29:09 PM

What we all do is we invest and we have a goal, what's that? and that is to earn and make money.
We are on our own and we can decide whether to do it or not, whichever is your priority. Just don't forget that you go back to the first reason why you started to invest.

Everyone definitely has a goal when they want to do something or have done something such as investing, because most of the investors who invest in various places are to get a much bigger profit from their current job. Apart from that, investments can usually help themselves in old age if what they invest in experiences an increase in value in the eyes of many people and its price on the market. Examples include Bitcoin now and also gold, which this year has also experienced a significant increase in price, although the percentage is still quite far compared to Bitcoin.

Yes, that's the purpose of investment to help us regardless of our age. But it's more helpful when we're on older age.
Anyway, are you going to let that happen that you'd wait for that long when you're already in profit? I don't think that it should be like that.
Although I have seen that strategy from the older ones that they dedicate an asset that shall be for long term but it is completely different because they're the jewelries, precious metals, real estate and other conventional investments and assets.

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Quote from: OrangeII on May 26, 2024, 10:07:07 PM

Well, that's why taking advantage is important. Make sure that you take profits regularly, and have a strategy for rebuying. When you have taken profit, and bearishness occurs, you can buy back, and increase the coins you own.
However, I too have experienced the same thing. Until now, I have changed my view completely, that I chose this decision to make a profit.

Buying at a lower cost will be helpful for you in future because the lower price changes into a higher cost when the market becomes favorable for all of us. Sometimes an individual has no idea and he once buys a coin then holds it without touching it in bull season but I think it is not a good idea as every coin does not show a huge pump in every bull season.

You should focus on your profit instead of considering market conditions because once you fail to get the profit then there is no information that when the market will again increase so the missed opportunity can be a last opportunity for you as every coin is not successful like that of Bitcoin

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Quote from: Joseph-P on March 07, 2024, 10:13:08 AM

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

Taking the profit is a good way to earn but if it is small profit we can also hold and wait till it become bigger, i think it depends on our limitations because we also need big profit not just penny if we are going to take profit earlier then we can only take small and not enough for us to pay everything so we also need to set limitations for good.

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Quote from: Fullcoinese on May 27, 2024, 01:52:25 AM

Quote from: pusaka on May 27, 2024, 01:45:32 AM

We cannot predict with certainty where and when the price will fall, so it is important that we set a target to take profit. In my opinion, we don't have to get big profits, we just adjust it to our capital (we have to be realistic in this matter), the important thing is that we can be consistent in taking those profits. When we can be consistent, even though our profits are small, we can continue to get them and it will be a large amount too.
Everyone must have had unpleasant experiences when investing or trading, and from that experience we can learn to become a better person and as much as possible avoid the same mistakes in the future.

that's what is important for traders to have. they have to think rationally, especially when determining profit targets so that they won't get caught in situations that could make them more greedy.
some traders make several achievable targets, when target 1 is exceeded and there is a large enough chance of approaching the second target, they will seriously monitor market capabilities. if they feel unable they will give up and take advantage of the first target.

So, don't let greed control us, because if that happens, don't expect us to be able to make a profit, even when the profit is right before our eyes, maybe the profit will be lost because of our own greed.
That's right, we can also set several targets that we want to achieve, that is one way if we still believe that the price will continue to move making us a profit. We can implement at least 2 or 3 targets for us to achieve. And if the target turns out to be unattainable, then we will be able to return to the first target and the lowest target that we implemented.
If we can manage things like this well, then it is not impossible that we will become one of the people who can be said to be successful.

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Quote from: GideonGono on May 28, 2024, 12:27:38 PM

This is what I usually forget even in gambling, so in the end I would always lose instead of gain.
I used to take profit in trading before, when my capital gains more than 10%, I would take it and move it into another crypto(reinvest), there are also circumstances where I would cash it out if I need extra money to spend.
It is also important to make a plan on when would you take profit and what would you do with that profit ahead of time.

Sometimes greed makes us forget to take profits, thinking the price will still rise higher or because we are not yet satisfied with the profits generated, that's why traders need to determine what percentage of profit they want to achieve and take profits if they have reached it, or if traders think there is still a chance of getting bigger, so sell some of it to secure capital, which is also done by traders, but usually, disciplined traders will stick to their initial plan because they understand that profit is not an easy thing to get because crypto is often full of surprises. So planning in trading is quite important and also sticking to the plan made before starting trading.

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Quote from: terrific on May 28, 2024, 04:29:09 PM

What we all do is we invest and we have a goal, what's that? and that is to earn and make money.
We are on our own and we can decide whether to do it or not, whichever is your priority. Just don't forget that you go back to the first reason why you started to invest.

Everyone definitely has a goal when they want to do something or have done something such as investing, because most of the investors who invest in various places are to get a much bigger profit from their current job. Apart from that, investments can usually help themselves in old age if what they invest in experiences an increase in value in the eyes of many people and its price on the market. Examples include Bitcoin now and also gold, which this year has also experienced a significant increase in price, although the percentage is still quite far compared to Bitcoin.

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Quote from: OrangeII on May 28, 2024, 10:54:06 PM

Well, when someone has made a profit from an asset he is holding, but decides not to sell it, then making a profit is not because of luck, but because of the decisions we take. There are many people out there who continue to hold their assets when they have made a profit, but because they don't take it, the value of their assets decreases and they no longer have any profits. This is due to wrong decisions and calculations. However, it is very important to take action when making a profit, even if it is good enough to return the capital we use.

If they have made a profit and still choose to stay put and not sell it, of course they have no longer followed the initial plan they have made and this could happen due to greed or we have reanalyzed it and potentially the assets we own will experience an increase and If after we wait and there is no improvement, of course, as you said, they have made a mistake in their analysis and also their greed in trading, of course this will be very detrimental to us.

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Quote from: terrific on May 28, 2024, 02:35:34 PM

Quote from: bettercrypto on May 28, 2024, 09:52:03 AM

But if we only base the exit to get profit on relying on luck, I think that's not a good habit as an investor or trader, especially if we know that crypto or Bitcoin is very volatile.

Taking profit is no luck. You have to be decided when you do it because that's how it goes.
When you are an investor, you have a firm plan on when you should take your profits and that's how you read the market.
Or when in actuality, you have made it then that's how you make profit and you have to take it out because it's not always green that we'll see.

Well, when someone has made a profit from an asset he is holding, but decides not to sell it, then making a profit is not because of luck, but because of the decisions we take. There are many people out there who continue to hold their assets when they have made a profit, but because they don't take it, the value of their assets decreases and they no longer have any profits. This is due to wrong decisions and calculations. However, it is very important to take action when making a profit, even if it is good enough to return the capital we use.

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Quote from: Joseph-P on March 07, 2024, 10:13:08 AM

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

Since after the Covid-19 pandemic, during when we had all the market bleed extensively the majority of investors were really crushed and since then the dynamics has changed and some investors lost their life savings in the market both investors in the stocks, bonds, derivatives, and lot of other investment assets class out there and the resultant effect or negative impact is what we are facing in the market till date and no one wants to keep their money much longer in the market and now investors take profit at every opportunity. Now back to your op, profit taking is very important in this volatile crypto market and because of uncertainties in the market, and in order to protect your portfolios.

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Quote from: Joseph-P on March 07, 2024, 10:13:08 AM

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.
~snip~

Well, most altcoins can give you -99% loss in a blink of eye if you hold it for long term and forgot to take profit because the trend for altcoins is always changing every bull season that's why many altcoins just for exit liquidity in a bull season. Bitcoin will be the best if you put Fibonacci analysis to know where you take profit or where you open your trade so make sure to trade using TA because without preparation many people will only become an exit liquidity.

terrific

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Quote from: Hamphser on May 28, 2024, 02:54:19 PM

Quote from: terrific on May 28, 2024, 02:35:34 PM

Quote from: bettercrypto on May 28, 2024, 09:52:03 AM

But if we only base the exit to get profit on relying on luck, I think that's not a good habit as an investor or trader, especially if we know that crypto or Bitcoin is very volatile.

Taking profit is no luck. You have to be decided when you do it because that's how it goes.
When you are an investor, you have a firm plan on when you should take your profits and that's how you read the market.
Or when in actuality, you have made it then that's how you make profit and you have to take it out because it's not always green that we'll see.

Having plans is really that something that would really be needed on which at the moment that you do find yourself on such condition on where you would really be thinking up that everything goes in your plan.
THen think again because this isnt how things works. If you do find yourself having that kind of condition on where you are really that in torn whether you do take profits or would be holding up your position then it would really be basing up with some several factors on which we know that there are really those people who are investing into something which are really that good for long term like Bitcoin and some top altcoins but there are ones who are really that tending to hold up some shit or meme coins on which you dont know whether they would really be that pumping or not in the future.
This is where results or outcomes will really be that totally be basing up on the things that you've been dealing with.We do know that investing on crypto is really that hard or not really that easy.
Taking up profits is something that will really be that our main priority.

What we all do is we invest and we have a goal, what's that? and that is to earn and make money.
We are on our own and we can decide whether to do it or not, whichever is your priority. Just don't forget that you go back to the first reason why you started to invest.

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Quote from: terrific on May 28, 2024, 02:35:34 PM

Quote from: bettercrypto on May 28, 2024, 09:52:03 AM

But if we only base the exit to get profit on relying on luck, I think that's not a good habit as an investor or trader, especially if we know that crypto or Bitcoin is very volatile.

Taking profit is no luck. You have to be decided when you do it because that's how it goes.
When you are an investor, you have a firm plan on when you should take your profits and that's how you read the market.
Or when in actuality, you have made it then that's how you make profit and you have to take it out because it's not always green that we'll see.

Having plans is really that something that would really be needed on which at the moment that you do find yourself on such condition on where you would really be thinking up that everything goes in your plan.
THen think again because this isnt how things works. If you do find yourself having that kind of condition on where you are really that in torn whether you do take profits or would be holding up your position then it would really be basing up with some several factors on which we know that there are really those people who are investing into something which are really that good for long term like Bitcoin and some top altcoins but there are ones who are really that tending to hold up some shit or meme coins on which you dont know whether they would really be that pumping or not in the future.
This is where results or outcomes will really be that totally be basing up on the things that you've been dealing with.We do know that investing on crypto is really that hard or not really that easy.
Taking up profits is something that will really be that our main priority.

terrific

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Quote from: bettercrypto on May 28, 2024, 09:52:03 AM

But if we only base the exit to get profit on relying on luck, I think that's not a good habit as an investor or trader, especially if we know that crypto or Bitcoin is very volatile.

Taking profit is no luck. You have to be decided when you do it because that's how it goes.
When you are an investor, you have a firm plan on when you should take your profits and that's how you read the market.
Or when in actuality, you have made it then that's how you make profit and you have to take it out because it's not always green that we'll see.

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Quote from: GideonGono on May 28, 2024, 12:27:38 PM

This is what I usually forget even in gambling, so in the end I would always lose instead of gain.
I used to take profit in trading before, when my capital gains more than 10%, I would take it and move it into another crypto(reinvest), there are also circumstances where I would cash it out if I need extra money to spend.
It is also important to make a plan on when would you take profit and what would you do with that profit ahead of time.

Basically, it is important to have a goal in investing. Because without a goal, sometimes we forget or even become greedy in carrying out investment activities. So if we follow our passion too much, in the end the price drops again and we no longer have the opportunity to take advantage, so in the end we are forced to hold it and wait for the moment to rise again.

In theory it is very easy to understand, but in practice it is sometimes difficult to control when to stop and take profit and after a decline we buy again. Therefore, it is very important for us as traders and investors to have plans and targets. This is to control all our investment activities. Apart from that, we have to continue to learn many strategies, but look for a strategy that suits us, focus on that strategy, stay calm, don't be passionate, and control your psychology. In the end, we can take advantage of investments, because taking advantage of every moment in the market is very important.

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This is what I usually forget even in gambling, so in the end I would always lose instead of gain.
I used to take profit in trading before, when my capital gains more than 10%, I would take it and move it into another crypto(reinvest), there are also circumstances where I would cash it out if I need extra money to spend.
It is also important to make a plan on when would you take profit and what would you do with that profit ahead of time.

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Quote from: OrangeII on May 26, 2024, 10:07:07 PM

Quote from: senyorito123 on May 11, 2024, 04:59:46 PM

I believed being greed is more important to avoid profit loss, that proven because those old days I never had that mindset. My confidence was out breaking thinking that I wouldn't experience any problem with my holdings.
Unfortunately, when bearish came around year 2018--2019 everything went so grey and in fact it gave me a lot of emotional stress which was really hard to cope up.

Well, that's why taking advantage is important. Make sure that you take profits regularly, and have a strategy for rebuying. When you have taken profit, and bearishness occurs, you can buy back, and increase the coins you own.
However, I too have experienced the same thing. Until now, I have changed my view completely, that I chose this decision to make a profit.

When we are greedy we are also taking advantage of some things around us but I believe there is a typo above and he only forget to include the word ' not ' because being greedy is still a negative thing and there is a big chance that we will end up losing instead of winning/profiting.

Both taking profits or selling and re-buying must have a strategy like if what price we will execute them because the price is not always on the rise and not always on the lows. We are lucky if after we sell at highs, the price then dips back because this means we can buy immediately (as you said) and there will also be regrets that will form in our side/minds.

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Quote from: Xampeuu on May 27, 2024, 01:13:53 AM

Quote from: OrangeII on May 26, 2024, 10:07:07 PM

Quote from: senyorito123 on May 11, 2024, 04:59:46 PM

I believed being greed is more important to avoid profit loss, that proven because those old days I never had that mindset. My confidence was out breaking thinking that I wouldn't experience any problem with my holdings.
Unfortunately, when bearish came around year 2018--2019 everything went so grey and in fact it gave me a lot of emotional stress which was really hard to cope up.

Well, that's why taking advantage is important. Make sure that you take profits regularly, and have a strategy for rebuying. When you have taken profit, and bearishness occurs, you can buy back, and increase the coins you own.
However, I too have experienced the same thing. Until now, I have changed my view completely, that I chose this decision to make a profit.

Sometimes greed seems to blind our minds to make a profit, even though we have already made a big profit. Everyone must have experienced it, and in the end can only accept what happened, or even experience panic selling, which is even worse. therefore we should have a profit making plan, so that we can control our psychology so that we are not greedy, it is natural for this to happen, because it is basic human nature

I remember the old saying "Greed is the root of all evil." This proverb reminds us that when we are too greedy and obsessed with excessive desires, it can have negative impacts and lead to immoral actions or harm others. It's possible that one day something will happen that is the reciprocal impact of greed that you don't realize has previously wronged other people.

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Quote from: OrangeII on May 26, 2024, 10:07:07 PM

Quote from: senyorito123 on May 11, 2024, 04:59:46 PM

I believed being greed is more important to avoid profit loss, that proven because those old days I never had that mindset. My confidence was out breaking thinking that I wouldn't experience any problem with my holdings.
Unfortunately, when bearish came around year 2018--2019 everything went so grey and in fact it gave me a lot of emotional stress which was really hard to cope up.

Well, that's why taking advantage is important. Make sure that you take profits regularly, and have a strategy for rebuying. When you have taken profit, and bearishness occurs, you can buy back, and increase the coins you own.
However, I too have experienced the same thing. Until now, I have changed my view completely, that I chose this decision to make a profit.

Taking profit is something we can do either short-term or long-term. As long as we know how to look for the right opportunity to make a profit, it is for sure that we will be successful in everything we do in crypto trading.

But if we only base the exit to get profit on relying on luck, I think that's not a good habit as an investor or trader, especially if we know that crypto or Bitcoin is very volatile.

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Quote from: OrangeII on May 26, 2024, 10:07:07 PM

Quote from: senyorito123 on May 11, 2024, 04:59:46 PM

I believed being greed is more important to avoid profit loss, that proven because those old days I never had that mindset. My confidence was out breaking thinking that I wouldn't experience any problem with my holdings.
Unfortunately, when bearish came around year 2018--2019 everything went so grey and in fact it gave me a lot of emotional stress which was really hard to cope up.

Well, that's why taking advantage is important. Make sure that you take profits regularly, and have a strategy for rebuying. When you have taken profit, and bearishness occurs, you can buy back, and increase the coins you own.
However, I too have experienced the same thing. Until now, I have changed my view completely, that I chose this decision to make a profit.

We all aim to take good profits from investing either in bitcoin or altcoins. So if chances occur that you’ll be in great profits, don’t be fearful thinking you might miss the much bigger future profits. Remember, even if you take small profits but at a consistent basis, that will continue to grow as well until it hits your target profits. Sell when there are opportunities to be in profits, buy and hold when you are planning to grow your coins and become profitable in the future. Know the difference between buying and selling so you’ll never miss both its advantages and regret in the end.

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Quote from: armanda90 on May 28, 2024, 05:33:39 AM

Actually purpose of trading is taking profit as much possible in short term, I think take profit during has opportunity is very important for all trader and don't be greedy looking for their assets or portfolio increasing significant and right time to take profit. Currently have bad habit for trader because high expectation when investing in some coins exactly with meme coins, most of them expected with $100 capital in cryptocurrency trading huge expectation become $1000 when investing in meme coins and difficult for taking profit after having moment with increasing price above 50%.

Most traders who played and take the risk investing with Meme coins or alt asset that they believed that will bring them fortune, most of the time out greed instead of taking profits and being contented with the profits that they should take, they push and hope for more, when downfall happen they are the one who quickly sell and lose portion of their money.

Like what you mentioned, the purpose of trading is for you to take your profits and not to lose it, take profits whenever you have your chance the risk you take should be paid by profits that you take.

Quote

Fatal mistake when delaying for taking profit did by some trader, as soon possible has moment after price increase don't be late for taking profit behind many bad news and unpredictable happening will make price dropping again make us loss great opportunity taking profit. Better getting profit with small percentage but consistency than bigger expectation to earn much profit but its very difficult.

This is something that needed to learn and study, do your DYOR and make things in a timely manner, profits even how small it is but if you manage to increased your initial deposit that's still good in terms of trading.

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