Take Profits! Its important! - page 4.

snowpega

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Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

Dear, You have really started a good discussion I also believe in what you said but your saying reminds me of these things and I really appreciate that for you. I also booked some ratio of profit when bitcoin was reached $60k and then I booked when bitcoin was at the $68k price zone all the booking done was with the intention of buying back in case of if the market makes some downward moves after that I am waiting patiently for this thing to happen. On the other hand market is highly bullish and in a greed zone where they all should book some we are experiencing aggressive buying which indicates a difficult correction in the market.

Big institutions are also buying aggressively at the current price zone which looks to weird I do know what are their actuall plan behind that as we know we are near to the halving event and the market already sitting at a high level after making its new all-time high. as we know that there is a correct on the time of halving event if we look at the historical shart now i don't know why makret is highly bullish near the event of Halvinh and broke last all time high before the halving evnet.

deathcode

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Quote from: Dunamisx on March 13, 2024, 09:30:23 AM

Its important to take profit but the desire to want to make more will not allow us for that, there are many of our personal behavioral attitudes that contributes tot he level of what happens to us in trading and such is as a good example of this we are having discussion on, many could not afford to manage in taking profits and left until they found out that its already too late for them to leave after which the losses would have accumulated.

means there is a problem with the trade plan made. it affects the targets that can be achieved. that is indeed difficult to do. but if that situation occurs, the trader is in a condition that is not consistent with the trading plan that he has made himself. Greed may be a reason, but I think the main one is a poor trading experience.
maybe with a few mistakes they will get better.

Dunamisx

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Its important to take profit but the desire to want to make more will not allow us for that, there are many of our personal behavioral attitudes that contributes tot he level of what happens to us in trading and such is as a good example of this we are having discussion on, many could not afford to manage in taking profits and left until they found out that its already too late for them to leave after which the losses would have accumulated.

stomachgrowls

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Quote from: Hamphser on March 12, 2024, 11:37:12 PM

Quote from: Hallroom on March 12, 2024, 11:18:57 PM

Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

If you are too greedy then you will definitely face losses, so don't be too greedy in saturated currencies. Where you can lose all your money just by being greedy. And if patience should be increased then success must be achieved.
Your two suggestions are very good to me and will help me in the future.

Greed is never been good and if you are someone whose really that trying out to make profits on just simply going further and doesnt make out some securing your capital and when the market makes some
huge correction then you would really be losing those profits and you would really be ending up on having those kind of regrets and telling to yourself that you should have that make yourself secure while
you are still on positive. This is a common mistake for most traders on which it would really be that normal that they would be pursuing on something higher but it do really have those cons
on which on the time that you would really be ending up on holding up your position then you would be ending up on getting caught on the dump. So the question is, how long you would really be
making your patience last on holding your position? This would really be something that very a normal approach.

You would be only having that kind of realization on the time that you do really have missed out those profits and i do agree on what you have said about on the time that you do make some trading and you have decided to hold further because you are aiming for higher gains but ended up on a disaster just because the market had crashed or corrected.

It will be that depending on what coin you have invested on whether on meme coins/altcoins/Bitcoin on which it is impossible that you wont really be able to determine which one is worth to hold
for long term and which one is really that for temporary. Always secure your initial capital on which this is something that you would really be needing to consider.

Take profits when happy and hold if you do see that it would shoot up even more but the risks attached is something that you could be able to bare up to accept
because corrections happen and on the time you do miss those profits then regrets would comes next.

Ahli38

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Quote from: Joseph-P on March 07, 2024, 11:13:08 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 trading, we must not be greedy and hope that profits will continue to come and think that the hype will never end. Well in trading we have to be fully aware that we have to take profits when we are already in a position to make a profit. If it is a spot market then we can take profits gradually. But if it's in the futures market, I think we can still be greedy while keeping profits from being lost by shifting the stoploss from a loss position to a profit position that we want to secure (stoploss plus). Because the stoploss function which is usually used to stop losses can also be used to secure profits. It can also be done on the spot market as long as CEX provides this feature.

Strongkored

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Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

No trader can sell exactly at the highest price and when buying at the lowest price, all they do is try to predict.
Traders who are filled with fear will sell too quickly, and those who are filled with greed will continue to try to keep their coins without thinking about taking profit because they feel the price will continue to rise and when they realize it, it will be too late, so always be realistic in trading and try to take profits if there is a chance because there is a time when the price will fall again and it is time to buy again, save it again and sell at the target price.

Hamphser

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Quote from: Hallroom on March 12, 2024, 11:18:57 PM

Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

If you are too greedy then you will definitely face losses, so don't be too greedy in saturated currencies. Where you can lose all your money just by being greedy. And if patience should be increased then success must be achieved.
Your two suggestions are very good to me and will help me in the future.

Greed is never been good and if you are someone whose really that trying out to make profits on just simply going further and doesnt make out some securing your capital and when the market makes some
huge correction then you would really be losing those profits and you would really be ending up on having those kind of regrets and telling to yourself that you should have that make yourself secure while
you are still on positive. This is a common mistake for most traders on which it would really be that normal that they would be pursuing on something higher but it do really have those cons
on which on the time that you would really be ending up on holding up your position then you would be ending up on getting caught on the dump. So the question is, how long you would really be
making your patience last on holding your position? This would really be something that very a normal approach.

Hallroom

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Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

If you are too greedy then you will definitely face losses, so don't be too greedy in saturated currencies. Where you can lose all your money just by being greedy. And if patience should be increased then success must be achieved.
Your two suggestions are very good to me and will help me in the future.

batang_bitcoin

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Quote from: Dr.Osh on March 11, 2024, 11:27:23 AM

Even when we understand that taking advantage is important, when we face this situation, the feeling of greed will continue to exist. I agree that if you want the long term, then bitcoin is the choice. Meanwhile, for altcoins, if you have made enough profits, immediately secure your main money, or take all the profits.

When you make money with the altcoins, the best that you can do is to convert that into Bitcoin for your own reference. That's the safest thing to do aside from converting that to stable coins so that you can also DCA while waiting for some corrections to see Bitcoin's price go down a bit. When you're selling, you're not greedy and you're just taking of your profits but as you've said, this is a long term thing and it's here to stay so before you sell, plan everything well out.

GeorgeJohn

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Bitcoin is achievement

Quote from: Oshosondy on March 07, 2024, 11:19:25 AM

Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

It did happen to me countless number of times. The last one that I remember that caused me significant loss was when I was winning $45 already but I set TP at $50. The market later went down and I lost money a lot. As a trader, it is good not to be greedy.

In trading you don't need to be greedy in trading because on the process you have seen a profit to cash and if you refused to cash out immediately you may lose whatever you make as profit including your capital, if someone wants to be prosper in trading the person have to remove greediness and value any amount of profit that comes to it ways.

Quote from: tvplus006 on March 07, 2024, 11:50:55 AM

Quote from: Joseph-P on March 07, 2024, 11:13:08 AM

...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 would still change priorities, because if you can't make a profit, then you will have nothing to keep) Obviously, we are talking about how, as the price increases, it is necessary to fix part of the profit, which it is desirable to withdraw to fiat, so that life is more fun.

The aim and objectives of trading is to make profit, and it's obvious that before you make profit in trading you have to learn and understand the major concepts of it, because what makes people to loss for trading is when they fail to scrutinised the rudiments of Trading.

armanda90

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Decision or target from trading or investing is take profit, I don't know why many people not prioritize for taking profit after getting moment with their investment assets increasing high value. Current bitcoin and altcoin volatile and we can't predictable with the price keep on the higher is the right moment for taking profit and buy back later when get correction moment.
Not always the holder is the winner regarding how many coins dump drastically after success raising the highest price and most of altcoin following with the bitcoin price, if get crash you can't stopping altcoin will going dump and its very important how to take profit since get the opportunity.
Most of trader loyal hand keep holding their cryptocurrency assets after raising more profitable until price going dump will disappointed why not sell when getting moment in the higher price?

dunfida

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Quote from: freedomgo on March 11, 2024, 07:38:46 PM

Quote from: ajiz138 on March 10, 2024, 01:12:03 PM

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

I guess we all have experienced things like this because of greed and misconceptions about bitcoin and even to the rest of the crypto coins. But one huge loss is enough for a wise investor, so he won’t repeat the same mistake again and still end up losing.

The challenge here is not actually to maximize our future profits, but controlling our greed in order to take profits when the market is capable to, and knowing when to keep on hodling while others are greedy to sell.

Once you do gain up that experience then it would really be impossible that you wont really be able to make yourself learn out of those mistakes that you've been able to commit out. This is something that a very part of trading on which loses is really your best teacher and on the time that you would really be experiencing those unfortunate conditions then you would really be normally be adjusting into that on which this is really just that common sense. This is why it would really be always better that you should really be that adaptive and versatile once you do hover yourself towards the market on which there would really be no guarantees
about making profits.

You would really be needing to adjust accordingly if you have seen that you are really having that high chance of lossing on which we know that
this is something inevitable. If you wont really be making out those adjustments then you are really that bound into such disaster and this is something that we must avoid as much as
we can.

freedomgo

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Quote from: ajiz138 on March 10, 2024, 01:12:03 PM

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

I guess we all have experienced things like this because of greed and misconceptions about bitcoin and even to the rest of the crypto coins. But one huge loss is enough for a wise investor, so he won’t repeat the same mistake again and still end up losing.

The challenge here is not actually to maximize our future profits, but controlling our greed in order to take profits when the market is capable to, and knowing when to keep on hodling while others are greedy to sell.

KingsDen

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Hello Leo! You can still win.

Quote from: mindrust on March 07, 2024, 11:30:47 AM

"No one went broke taking profits."

Your profits are all on paper unless you realize them. By "realizing" I mean converting them to FIAT. It may sound weird to many people but we still live in a FIAT world. People still price their stuff in FIAT because it is somehow predictable unlike crypto. Yes FIAT sucks and it makes you poor in the long term but the thing is, you exactly know what you gonna get.

With crypto, there is too much uncertainly. Too volatile. So don't forget to take dem profits every once in a while.

I have read a few replies from people and they are all in agreement with Op. I have thought that OP made this topic because of the recent surge in the price of bitcoin. But lately did I remember that this is trading board and the post was made for trading purpose and not for long term investment purposes.

If I have been holding bitcoin for a long time, maybe throw DCA, this might not be the best time to take profit because it seems that the future is just brighter for bitcoin. Taking profit now might be too early.

Kelvinid

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Quote from: Asiska02 on March 11, 2024, 01:31:16 PM

Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

Good advise and for most traders, they don't trade in this manner. A lot of greed lives in the mind of many traders and that have made them lost a lot of profitable trades that were initially in big wins for them. What many don't get to understand in trading is that; learn to trade today and come back tomorrow to trade more, it will make you a better trader and not allowing the market to reap you off your money because you don't know how to employ risk management while trading.

Firstly, every traders intention when they joined trading is to make profit but today, they delay to take profit and quickly exit the trade when in loss as trade is still in process. If traders will learn how to take profits early and exit a trade already on negative trend early, most of them will be profitable and if they are not, their losses from trade won't be that much that they will discouraged not to trade again. Greed and unprepared mindset to align with the flow of the market will only make it harder to become a better trader.

We won't survive in trading if we never earn a profit. Unless our intention is to just spend our money for nothing. Of course, it may not be that easy to get a profit at the start which is why we need more money to back up but if this will take longer time and already drained our reserve, I don't think we need to continue. We just survive from this when our profit would also able to sustain the needs in trading, not from our personal wallet anymore. Otherwise, we make trading as other expenses which in fact, the purpose is to consider as other sources of income.

Asiska02

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Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

Good advise and for most traders, they don't trade in this manner. A lot of greed lives in the mind of many traders and that have made them lost a lot of profitable trades that were initially in big wins for them. What many don't get to understand in trading is that; learn to trade today and come back tomorrow to trade more, it will make you a better trader and not allowing the market to reap you off your money because you don't know how to employ risk management while trading.

Firstly, every traders intention when they joined trading is to make profit but today, they delay to take profit and quickly exit the trade when in loss as trade is still in process. If traders will learn how to take profits early and exit a trade already on negative trend early, most of them will be profitable and if they are not, their losses from trade won't be that much that they will discouraged not to trade again. Greed and unprepared mindset to align with the flow of the market will only make it harder to become a better trader.

Hyphen(-)

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Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

Most short-term investors are greedy; they come for quick money, which is why they will want their profits to go up before taking them, and as we all know how greed is affecting such investors, before you know it, the little profit you don’t take will turn into a loss.

Taking your profit anytime you get little is the most significant thing that shows that you are not greedy; you can reinvest again in another coin and get another profit than watching the profit go.

This bull run, we will see many people claiming to be investors, and most of them are just here to get quick money. If some of them who are greedy lose money, they will start complaining that crypto is a scam, and some of them will go ahead and invest in projects they don’t know anything about. If they lose money in that project, they will generalize it by saying crypto is not paying or it is a Ponzi scheme just because they failed to do the right thing.

Dr.Osh

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Quote from: ajiz138 on March 10, 2024, 01:12:03 PM

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

This seems to be an experience I keep repeating. Even now, I still often do the same thing. Even though you have made quite a profit, you still have the feeling of wanting more and you keep holding onto the coins in the hope that the price will be higher. As a result, the price dropped badly, and I regret it.

Even when we understand that taking advantage is important, when we face this situation, the feeling of greed will continue to exist. I agree that if you want the long term, then bitcoin is the choice. Meanwhile, for altcoins, if you have made enough profits, immediately secure your main money, or take all the profits.

Julien_Olynpic

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Quote from: Oshosondy on March 07, 2024, 11:19:25 AM

Quote from: Joseph-P on March 07, 2024, 11:13:08 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.

It did happen to me countless number of times. The last one that I remember that caused me significant loss was when I was winning $45 already but I set TP at $50. The market later went down and I lost money a lot. As a trader, it is good not to be greedy.

This is a good example of the fact that you should definitely take paper profits, but the strategy for taking paper profits must be smart. Indeed, take profit is not the most perfect tool for taking profits. It has significant disadvantages: firstly, the price does not always reach the take profit. And secondly, very often the take profit closes the position too early. After taking profit, the price often goes up many more points. But what is better than take profit? I believe that a trailing stop is better than take profit. In addition, you can tighten the stop with your hands following the price. As soon as a bear market begins, your trailing stop will definitely be triggered.

Vinaa77

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Quote from: mirakal on March 10, 2024, 07:30:39 PM

Taking profits would be easier if there’s no presence of greed. But with the the high potentials of bitcoin to reach more profitable value in the future, it’s normal for a human to develop one’s greed and chose to prolong its hodling believing that bitcoin price will continue to rise consistently more often, but fail to realized that bitcoin is highly volatile, any moment bitcoin price may plummet again and drops it value to its dips.

This is the reason why taking profits most especially when the market is preparing for a bull run is very hard to do. However, having wrong decision is not bad at first, that way they will learn their lesson and will be wiser already once they invest again in bitcoin.

If someone cannot control themselves in investing, of course they will always be greedy with the things they do and also in investing after the profits they have gotten from those investments, but they choose to postpone the profits they get in the hope that there will be a higher increase. Again, with bigger profits and when they experience a decline, of course they have to wait a long time again to be able to take advantage of the profits they have missed.
Yes, of course, every time we make a wrong investment decision, we must be able to correct and find out the mistakes they made and must study again so that we don't repeat the same mistakes again.

Topic: Take Profits! Its important! - page 4. (Read 1271 times)