Take Profits! Its important! - page 4.

nurilham

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Quote from: Viscore on March 17, 2024, 04:12:04 PM

Greed has no room in trading. If you trade just because you aim to be instantly rich, that will definitely hard to be realized if you don’t know when to take profits even the smaller portion.

Exactly. As a trader, we mustn't have a greed. It will ruin our trading, it is an obstacle to succeed in trading.
No trader can rich just a few days trading, it needs a long process. It also must require a good knowledge and experience, no success instantly.
Moreover, when we are still a newbie, we must focus on learning about how to trade in the right way. Don't directly target to be rich!

Quote from: Viscore on March 17, 2024, 04:12:04 PM

Note that profits should not always be huge for you to start taking it, regardless of its amount, you should learn to be satisfied at some point and take it, otherwise you will end up losing all your patience while waiting for massive profits, and yet the market still end up dumping.

Indeed. Sometimes we have a bad day when the market has a big correction, in this condition we don' expect to get too high profits. It is better to take profits although it is just small profits. We must avoid to hold a long time for certain coins, it is because they may lose the values and it will be difficult to return.

uchegod-21

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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.

I trace this problem back to learning about the basics. In the basics of cryptocurrency trading we were taught on how to invest and make good profit but hardly do we learn profit taking methods. Many of us work hard to grow our portfolio and still watch them fall back to naught. It is important to take profits and if possible to fiat if using a stable coin will still be tempting to re-trade and as well over trade. I am of the school of taught that there's always an opportunity before us. If we take profits, we shall still have another opportunity to reinvest the profits but when the profit is gone, we are only faced to regrow an already grown but lost profit.

AnonBitCoiner

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Quote from: 2Pizza410000BTC on March 22, 2024, 05:34:32 PM

In fact, due to excessive greed in the trading platform, profit is zero seen. I myself am proof enough that I have been in a lot of losses in trading for the past few days. The only reason I lost on my trading platform was because I was greedy. At first when I joined trading I was in profit but if I wait for more profit I lose a lot of profit in a short period of time. Now currently I am in loss around $300 I don't know if this loss will recover quickly. From here I understand that excessive greed brings the profit to zero on the trading platform.

Some people when find out some field advantageous then they start to use more money for it like many people when win a large sum of money then they are not happy with that but find it suitable to invest that amount again to earn more but actually all the time the Same coin never surges to give us profit.

Greed is the major reason for to which people often get rid of their earned money and once a person start thinking with greed then he never think normal but always shows great interest towards money. If your hands become full of money and suddenly your heart says that it's not enough then you will again start trading which is a sort of greed and you will eventually loss earned sum as well as some more money that you invest after realizing that trading is advantageous.

stomachgrowls

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Quote from: boty on March 23, 2024, 12:15:06 PM

Quote from: 2Pizza410000BTC on March 22, 2024, 05:34:32 PM

In fact, due to excessive greed in the trading platform, profit is zero seen. I myself am proof enough that I have been in a lot of losses in trading for the past few days. The only reason I lost on my trading platform was because I was greedy. At first when I joined trading I was in profit but if I wait for more profit I lose a lot of profit in a short period of time. Now currently I am in loss around $300 I don't know if this loss will recover quickly. From here I understand that excessive greed brings the profit to zero on the trading platform.

When you are aware of the mistakes you made in trading, of course you have to be able to correct them if you still want to be able to trade again and learn from the mistakes you made to be able to trade well again and also have to trade well and avoid greed so that can analyze well when deciding to buy a coin that can benefit from trading, if you are sure of the asset you hold, of course you will be able to recover from the losses you are experiencing, so you must be able to analyze well so as not to make decisions that harm you in the trades you make.

Would really be just that a right approach or just that common action that you would really be making is on that if you have made out those mistakes then you would really be correcting it out along the way.
Just like on what most people been saying on here that taking profits would be always the ideal move to make whenever you do see those gains on which it will be always our own primary target
specially if you are a short term trade. We do know that not all would really be holders and not all would really be able to hold up for too long and cant wait to see their profits in short time.
This is why they would really be that deciding that they would really be making active trades but of course it would really be having that certain risks on which not all would really be able to deal up with it.

boty

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Quote from: 2Pizza410000BTC on March 22, 2024, 05:34:32 PM

In fact, due to excessive greed in the trading platform, profit is zero seen. I myself am proof enough that I have been in a lot of losses in trading for the past few days. The only reason I lost on my trading platform was because I was greedy. At first when I joined trading I was in profit but if I wait for more profit I lose a lot of profit in a short period of time. Now currently I am in loss around $300 I don't know if this loss will recover quickly. From here I understand that excessive greed brings the profit to zero on the trading platform.

When you are aware of the mistakes you made in trading, of course you have to be able to correct them if you still want to be able to trade again and learn from the mistakes you made to be able to trade well again and also have to trade well and avoid greed so that can analyze well when deciding to buy a coin that can benefit from trading, if you are sure of the asset you hold, of course you will be able to recover from the losses you are experiencing, so you must be able to analyze well so as not to make decisions that harm you in the trades you make.

2Pizza410000BTC

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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.

In fact, due to excessive greed in the trading platform, profit is zero seen. I myself am proof enough that I have been in a lot of losses in trading for the past few days. The only reason I lost on my trading platform was because I was greedy. At first when I joined trading I was in profit but if I wait for more profit I lose a lot of profit in a short period of time. Now currently I am in loss around $300 I don't know if this loss will recover quickly. From here I understand that excessive greed brings the profit to zero on the trading platform.

gunhell16

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Quote from: Majestic-milf on March 07, 2024, 10:29:30 AM

First of, you made mention of "extreme greed' levels and this means by my understanding that traders will possess the ability to want to benefit from the market at all costs, not minding that it can crash at any moment, so what do you expect?

Quote

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.

the essence of trading is to make profits but that should not over rule the need for survival, that is why it's important to not have Bitcoin trading as your only means of investment, diversifying will help take your eyes off constantly checking the charts because sometimes it's when most of your money is in one basket that you will get greedy.

The major concern of trading is to give profit to all traders, which depends on the strategies of individual traders as well. That's why it's important to have deep knowledge of trading. Because if the strategy used on the trading platform is wrong, our capital will be dissolved.

But if the strategy is right or the understanding of trading is deep and wide, for sure we will get a good profit in the end. And with proper knowledge, we will also know when we should take a profit every time there is a chance to do so.

shield132

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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.

I agree with you because that advice is very good for every trader. I was always trying to make as much profit as possible and that's not the right thing to do but to my mind, it's also not good to 100% enter into the game and then 100% leave the game or you'll regret it.
This is my strategy: I invest 100% into coin when I think that price is very low, then try to sell it when I think it's the right time or I wait for a long time. For example, I bought bitcoins in 2022 and didn't sell them till recent days. It's difficult to buy and sell frequently, when I tried that, I instead of making more profit, I missed the profit. If you can't figure out good times frequently, then long-term is the best advice and I think for good gains, everyone has to frequently visit crypto news websites and be in touch with the situation all the time because if there is news that triggers panic, you have to be one of the first one who sells coins to avoid significant capital loss.

Hamphser

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Quote from: snowpega on March 21, 2024, 05:29:57 PM

Quote from: |MINER| on March 14, 2024, 10:45:43 AM

Every human being hopes for profit. But it is not enough to think only about profit all the time. Don't worry about profit when you enter crypto currency. he most challenging thing here is survival. If you think about profit before entering the world of crypto currency, you will not be able to survive in this world, let alone profit. To have a ticket in crypto currency you need to learn and know a lot and apply this knowledge at the right time. If you suddenly invest and expect sky-high profits from it, you can lose everything. So you should always think about survival and strengthening your position without thinking about profit.

Buddy well said I also agree with you profit matters but surviving in the crypto space safely matters more because once you lose your amount just because of one mistake that means you have done with your amount the chances of getting it back is nearly impossible. One should book profit from time to time in the crypto space rather than losing all the amount at once in case of a market crash badly. Greed is the worst enemy of humans who always traps the person in search of getting more and more so one should control have on his greed emotion for the best survival in the crypto space.

Having little is the best here as compared to facing a big loss in the cryptocurrency world. Well, I also read the thread just like that who also mentioned the same thing like your survival matters more in the crypto space, I was such a person before that who also used to think more and more profit but after reading his thread my point of view got changed.

Survival and this is something you should having in mind on where you would really be needing to sustain yourself on whatever methods or ways that you would really be tending to do.
Take profits is something always the golden rule of this space on which you cant be rich if you wont take profits. Yes, holding makes millionaires but we do know that it does have its cons or negative
side too on which too much holding could really be resulting into missing out opportunity on making profits and this is something that you should put up into your mind.
Take profits when happy and making yourself that keeps on doing it then you will really be showing that progressive.

snowpega

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Quote from: |MINER| on March 14, 2024, 10:45:43 AM

Every human being hopes for profit. But it is not enough to think only about profit all the time. Don't worry about profit when you enter crypto currency. he most challenging thing here is survival. If you think about profit before entering the world of crypto currency, you will not be able to survive in this world, let alone profit. To have a ticket in crypto currency you need to learn and know a lot and apply this knowledge at the right time. If you suddenly invest and expect sky-high profits from it, you can lose everything. So you should always think about survival and strengthening your position without thinking about profit.

Buddy well said I also agree with you profit matters but surviving in the crypto space safely matters more because once you lose your amount just because of one mistake that means you have done with your amount the chances of getting it back is nearly impossible. One should book profit from time to time in the crypto space rather than losing all the amount at once in case of a market crash badly. Greed is the worst enemy of humans who always traps the person in search of getting more and more so one should control have on his greed emotion for the best survival in the crypto space.

Having little is the best here as compared to facing a big loss in the cryptocurrency world. Well, I also read the thread just like that who also mentioned the same thing like your survival matters more in the crypto space, I was such a person before that who also used to think more and more profit but after reading his thread my point of view got changed.

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Quote from: Zanab247 on March 21, 2024, 10:21:33 AM

Quote from: Dr.Osh

Yes, that's very important. no one loses by taking advantage. The losers are people who want to continue to increase their profits and miss their opportunity, while the price of the coins they hold has decreased over time. If you feel that the price of the coin is good enough for you, and the profit you get from it is big enough, then it is better to take the profit rather than expecting a bigger profit.
In fact, it's okay to expect big profits, but the risks you have to accept are also bigger. Personally, I am more concerned with profits that are before my eyes than those that are still uncertain.

Take the advantage at the right time, make traders to remain in profits making because they believe that opportunity come but once which is the reason why they are not greedy to take profits when the price hit higher in the market few days ago.

Those traders that refused to trade when the price rise higher in the market to take a bigger profits from the market are seriously worry about what is happening in the market because, the price of coins has drop down little compare to the high price people where seeing in the market recently.

Fornathise traders that are always taking profits when they make winnings would know how to help themselves to stay safe without bothering themselves at all. It is very important for us to watch the market price and know when it's right for us to take profits because this is one of the problems making gamblers are having and keep making them lose more money because they are not taking the profits they have made so that even when they lose, it would still be easily to fund there accounts with remaining funds.

Fatunad

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Quote from: Franctoshi on March 17, 2024, 04:41:00 PM

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.

Profit taking is very important in trading, because you only win a trade when you have closed that particular trade in a profit, why this is important is because, Sometimes, some profiting trades at last became a lost trade, and this has happened to me a couple of times, and a suitable approach to this, is taking percentage profits along the line on any major support and resistance depending on which direction you choose, long or short, and always put your trades on break-even once you are about 10% profits in that trade.

Always secure profits and dont make yourself comes into a point that you do end up on regretting just because you had missed out on making profits just because you did make yourself a little bit greedier on which we do know that this is something that we must avoid since from the start. If you are that someone whose really that minding about making profits then once you have seen those greens or gains then secure it out.
Dont wait for more because once you had missed then it would really be a regrettable thing. Although there are really conditions on which you would really be having that kind of considerations on holding back
way longer because you've been believing that it might increase up even more. Holding long doesnt mean that being too greedy, it is really just that you are really that believing into something.

Based up on real experience then i have been able to commit out those kind of mistakes on the time that i do make out some trading and once those prices clings up more than
with my entry point then this is where decision making would really be needed. Outcomes and results would really be random on which it would be understandable.

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Quote from: Dr.Osh

Yes, that's very important. no one loses by taking advantage. The losers are people who want to continue to increase their profits and miss their opportunity, while the price of the coins they hold has decreased over time. If you feel that the price of the coin is good enough for you, and the profit you get from it is big enough, then it is better to take the profit rather than expecting a bigger profit.
In fact, it's okay to expect big profits, but the risks you have to accept are also bigger. Personally, I am more concerned with profits that are before my eyes than those that are still uncertain.

Take the advantage at the right time, make traders to remain in profits making because they believe that opportunity come but once which is the reason why they are not greedy to take profits when the price hit higher in the market few days ago.

Those traders that refused to trade when the price rise higher in the market to take a bigger profits from the market are seriously worry about what is happening in the market because, the price of coins has drop down little compare to the high price people where seeing in the market recently.

Franctoshi

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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.

Profit taking is very important in trading, because you only win a trade when you have closed that particular trade in a profit, why this is important is because, Sometimes, some profiting trades at last became a lost trade, and this has happened to me a couple of times, and a suitable approach to this, is taking percentage profits along the line on any major support and resistance depending on which direction you choose, long or short, and always put your trades on break-even once you are about 10% profits in that trade.

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Quote from: Issa56 on March 13, 2024, 05:03:11 PM

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.

If you are a trader and you don’t know when to take profits, then you are hardly going to make profit from trading, because you won’t leave the market when you are suppose to leave, you will want to get more profits, till price of coin start dumping before you will start struggling to sell. Some will lose all their profits and will still lose some of their capital, just because they don’t know when to sell, and mostly we shouldn’t be greedy, always take profits even if it’s small, their is no crime in taking profits. But if you think your profits is too small, and you keep on waiting for it to increase, things doesn’t go as planned always.

Greed has no room in trading. If you trade just because you aim to be instantly rich, that will definitely hard to be realized if you don’t know when to take profits even the smaller portion. Note that profits should not always be huge for you to start taking it, regardless of its amount, you should learn to be satisfied at some point and take it, otherwise you will end up losing all your patience while waiting for massive profits, and yet the market still end up dumping. And now you end up regretting wishing you were never greedy in the first place.

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Quote from: Dailyscript on March 15, 2024, 01:20:38 PM

When your playing around some kind of altcoins and not bitcoin that is when you will fall victim of a coin that will end up falling to zero. I understand that is trading, but is good that when trading we should trade coins that if by any chance it falls down critically someday it will have the ability to go back up and also beaten the ATH. Most people fall victims to pump and dump tokens, i wont blame them because at first that token shows so much potential at the begining stage making them to believe and trust the project not knowing it will only last for a while.

When someone plays with altcoins, of course they have to really understand the type of altcoin to be able to maintain the assets they invest in altcoins because if they don't understand it well, of course they will suffer losses in holding the altcoin, the price of which cannot recover and most of them will lose money. Losers are usually those who have just started investing or trading, but when someone is able to properly analyze a token or altcoin, of course they will be very careful in holding it and if they have made a profit, of course they will take advantage of holding the altcoin.

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Quote from: crwth on March 07, 2024, 12:19:48 PM

I think we are not yet at the hype of the actual bullrun because I think the people surrounding me, who are not that hyped about cryptocurrencies, are not yet asking me who has an idea with crypto. Before, when it was the bulll run, I experience that but now, I don't think it has that kind of impact yet even if we are near the ATH.

It can be a sign that it's not yet the peak but we can, however, see that we can take advantage of the green market. I agree that it's good to take profits.

Not sure about you but I can feel the hype already and we are now in the bull run but it's not yet strong, I guess it's because most holders are targeting about $100k levels for their profit booking. People around you are only lazy to see the market on their own. That's no good. If that happens to me, I will say that why you guys always rely on me? Not only that it won't annoy me anymore but it also helps them to grow.

If you invest earlier or when the price is still relatively cheap, yes, it's not bad if you can sell now but you can also opt to left some or most of your coins, so that you can sell again at an even better price later on. If you want to, you can also buy some more.

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When your playing around some kind of altcoins and not bitcoin that is when you will fall victim of a coin that will end up falling to zero. I understand that is trading, but is good that when trading we should trade coins that if by any chance it falls down critically someday it will have the ability to go back up and also beaten the ATH. Most people fall victims to pump and dump tokens, i wont blame them because at first that token shows so much potential at the begining stage making them to believe and trust the project not knowing it will only last for a while.

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Will always take advantage if it is a high enough price for me. But most will also be detained. profits are taken only to be enjoyed, of course I will not continue to hold back and need to enjoy the profits that should be enjoyed. Don't be too selfish and think too much that long-term investments will continue to be held without a price target. Bitcoin still hasn't reached $100k and I believe it still will, before that until I buy in gradually.

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Quote from: avp2306 on March 15, 2024, 02:54:47 AM

People lose on their trade its because they are been so greedy for looking up for more profits while there are already a good opportunity showing up in front of them. That's why when the price dump usually they are losing because they want the price to recover and that lead a total disaster on their investment. If they could just able to realize that crypto is fast moving asset that needs to trade once there's opportunity to do it then for sure aspiring traders could able to earn and they can minimize their losses. They really need to know that there's really a big tendency that correction will happen so good decision making is important and they should not ask to much so they can always take advantage on situation when their favorite coin pump and gather profits from this.

Trading is the ability to get the best result from the market, regardless of what phase it is in. Corrections are an integral part of the market, and you can also make a profit from a correction if you identify it.

But it seems to me that now for a growing market, trading is not the best solution, if almost everything starts to grow, then it is better to buy and wait until it grows well enough to make a significant profit, even if it is long-term trading. I also noticed that in a bull market there are a lot of traders who are ready to brag about their results, but they disappear from view as soon as the bear market sets in.

Topic: Take Profits! Its important! - page 4. (Read 1589 times)