Topic: Take Profits! Its important! - page 2. (Read 1589 times)

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%.

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.

Lol...you are trying to advice regarding the market but you neglect the fact that the market is dynamic. This is why what you perceived as the trader's/investor's fault today could be what would deliver the huge money into their hands later tomorrow. This is why I do not like to generalize any advice when it is about trading and investment, but to advocate that traders should have a viable plan that will always guide them. In trading, it is not by force to use the stop loss or take profit functions, it is all about you and how you've trained yourself even though, those functions are good to use in the market.

Still, I have read a whole lot about trading/investment, thought enough people and have practised more than 100 trading and investment strategies to have concluded on what I just wrote. If you are a long-term trader/investor, there is no need to use take profit, though it is not a must you do not use it as well, it is all about your choice, your strategy or mere variants, and you will still be perfectly fine. All that matters is for the trader/investor to know the strengths and weaknesses of his strategy in relation to the market conditions, and also know the time he can dedicate to the market for effective management in some conditions.

And once you are very good at speculating, you will hardly miss your predictions and hardly go wrong when you leave a trade and not take your profit, or when you take profits void of regrets. This is why traders must build a foolproof and time-tested trading system with everything they know about the market to achieve their own style/pattern instead of believing that some actions are because of greed or fear, No, I won't take that. Trading/investment actions and plans can never be the same for all traders/investors.

Yes, I really do appreciate this your last paragraph here, most traders don't actually know or they feel less concerned that when it comes to trading, risk management is very much important, because you have to survive first before you even think of making profit, so protecting your money through your risk management strategy is what will protect you and keep you in the market when it goes against you, because no matter how good you are as a trader, you can't be 100% in your decision making, so your ability to survive the rainy days is what makes you a professional trader.

And another thing most traders just have to understand is that, you can make a whole lot of money in one month and uses just 1hour to lose all of it plus your capital, so the ability to consolidate to your wins, is what makes you profitable.

Lastly, as a traders, it's best you set a clear objective, like when you are going to take your profit and go out of the Market, because greedy is the principal enemy that makes most traders watches all their wins run down to zero before they eventually close the trade, if they didn't close it in a loss, so it's very important to always take profit when you are winning.

Well i experienced watching my profit fall back into zero and i also experience so many regrets for selling earlier because the coins that i hold rise up to 39$ from 1.5$ that is why sometimes i believe that trading or buy and selling in crypto is depends on luck because we never know what's next to happen after we buy. It is also depends on the coins we hold and its future development.

The purpose of everyone's trading is to make profit, so take profit is definitely very important. If one does not cash out his money even though he is in profit, he should skip trading and hold while waiting for more profit. Holding can make huge profit but trading should sell tokens/coins with small profit so that loss does not touch him. Because in the case of holding loss, it is recovered again but in the case of trading loss, it takes time to recover that money because at that time many people panic and take more wrong decisions. many panic sell in losses.

     That's true. The market is very unpredictable, so it's important for a trader or investor to have a plan, because these will be our guidelines for exiting profit. If we don't have a plan, it's like we're just floating or being swept away by the wave as it goes. 

     Maybe later on, instead of having a profit, we will lose it, and this often happens because if greediness or lack of knowledge did not exist, for sure the majority of investors would get a profit, so it is also important to have a deep  understanding of trading.

Well said, I also want to say that taking profits in on corrrect time is the most important thing in trading for not to controlling the losses.
It's been many time I have faced that for some little tiny cents I lossed the whole amounts. It happend to the recent trading on Saga I got some Sagacoin from the Binance laucnpool pad and I keep them because of only 11 cent left from my selling target and what happend now the price was 60 dollar and currently it is on only 16$.
I will say I loose this amount for only of the my little greedy ness in my mind. And I am damn sure that this is not only me that happened to us.Some timea we even face loss setting a plan before. For this there was also need proper analysis skill also. But we can also assumed like if we are going to invest 100$ then taking profit limit on 5$ that's how we can also refain from the greed.

When someone trades, of course they must be able to have a plan before trading and must also be able to determine a profit target and they must take profits after they reach the profit target they have obtained and don't let them miss out because of their greed.
If they have two profit targets that they have and have succeeded in achieving the first target, however, they must continue to monitor market conditions so that they do not miss the opportunity to take advantage and if indeed they only reach the first target and after we analyze it, they will not be able to achieve it. Maybe it would be better for us to take the opportunity that exists.

This is how their misery start since they think about getting for more while there's no consistent growth will came but they failed to realize this, that's why instead of they gain it turns out situation goes bad and lose their profit also worse it includes their capital used. They should realize that greedy people always bound to lose their money that's why they should always have a mindset that taking profit is necessary and they should not ask for more especially if they see that the pump is so high since for sure that reversal will follow then after this they might lose their money especially if they are a person who easily get scared then do bad decisions when they are in panic.

the average trader has experienced things where they are greedy and don't want to take profit when they have the opportunity to take it. they just wait and wait until their profits rise higher, but unfortunately the market suddenly goes down and they only get half profits or fail to take profits at all. this is an important lesson that traders can take: they must be able to control their emotions and not be greedy for the profits they have made. if there is an opportunity to make a profit, you should just take it, because a trader could fail to make a profit because they keep waiting.

Even if we do speak about long term holding but still we are really that needing up that selling point or target on which it s really just that right that we should really be setting those numbers. It would really
be just that normal that we would really be setting out those numbers on which it would really be that high or something not realistic. Yes, this market has been flooded out by tons of speculative numbers
on which there are ones are realistic and there are ones who arent that something possible but of course we do know on how this market is really that reaching up those all time highs on which we know that its something that could surprise us because it could reach out those levels or prices on which we didnt expect that it could really happen. This is why on the moment you do make yourself engaged with investment or trading
with Bitcoin or other coins then it would be always best that you should really know on when to take profits.

Unless if you are tending to hold 10 years onwards then it would really be just that on your choice. There are ones who couldd really be able to make themselves that hold for long but there are
ones who do really set out their earlier targets because they are really that believing that they could be able to make themselves that secure profits and believing that there would really be correction.
This is where technical and fundamental knowledge will really be that differentiate into each other on which we know that outcomes and results will really be determining on how well
you do find yourself that being good or bad on doing trading or simply with your investments.

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.

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.

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

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.

What if I paraphrase that and one shouldn't only long term hold but also take profit. 

That sounds better IMHO because many of the long term holders forget to take their stack and get profits from it.

I totally agree 100%.

Most of the holders and investors are investing money that they can afford not to have because it will just grow on its own and they wouldn't be reliant on it.

But the catch is once it grows, that will entirely going to change their lives for avoiding the temptation of selling too early but not too later. So, it's just all about proper timing and right time.

To me, I don’t take it as greediness, but I define it as either emphasising more or a certain price and believing that you will surely get that, which is sometimes useful, but most times it comes to a big regret, and most of the time it usually affects those that trade or invest with a small amount, so it is possible for them to be expecting a certain price that will be based on expectation, but losing is constantly 

Let's take an instance where you invest $30 when bitcoin is at a rate of $30,000. In shout time, bitcoin increased to $32,000. From there, you know you have a profit of $2 based on the money you invest, and you have a potential that bitcoin can reach $60,000 so that you can get 2x of your investment. Then you see the bitcoin reduce down to $26,000, so will you remove it to avoid losing it since you have already put your potential on $60,000 and you lost the small profit you earn? or you will take the risk and wait for a miracle? 

But it is true that we need to go through all the failures including feeling that we are too greedy to ignore taking profits without realizing that we need to take profits at that time, and here it also shows that we need to have a profit target so that everything can be measured properly when taking profits in the crypto market where price fluctuations are very high.

I made this mistake several times because I didn't have a profit target so I lost a lot of money and my profit went to zero when we didn't have clear goals in our trading activities.

The main thing in this case, if we see profits in front of our eyes, we should take those profits and enjoy them, usually most people are too greedy to get much bigger profits, precisely what you are experiencing yourself. It is true that trading can make money or profits very quickly, but this job is not easy for everyone to learn, it will definitely go through a very bitter process in running it, losing a lot of money and so on. Can you quickly recover from your losses? In my opinion, the opportunity will always be there for you to recover, this depends on how you respond to previous failures that happened to you.

greed mostly decieve traders, there's situation where you need to sell as you already have some decent possible profit but because of greed instead of taking it you push and try to earn more, eventually the market will fall back  and that opportunity got wasted, while in some situation instead of making more money but because of greed we made an early call and missed that opportunity to earn more.

Though, it's always better to take the profits whatever position you are and even how small it was, profits still profits and that counts on you positive results.