Topic: Take Profits! Its important! - page 6. (Read 1271 times)

Well, you are right but it's not always going to be like if you invested $100 as capital and take $100 straight in one or few months will not be possible at all so how they need to take out the profits is from small range let's break into 5 times so taking 20 is quite possible and realistic too and if you manage to do that 5 times then now you recovered your capital value and everything that left is profit and even one more cash out is made out of complete profit.

In trading, regardless of the amount of profits, as long as you are seeing profits, the best action would be to sell your coins. You could sell even just a small portion of your whole storage, the important thing is you take time to sell and make decent amount of profits. While others continue to hold to satisfy their greed, but hodling will never make you profitable, but selling is.

Know when to trade and make profits and know when to hold continuously your coins. If you have specific plans on when to sell and when to hold, you will definitely make a positive outcome from your investment. Long term planning and good preparation prior to investing will really help you to achieve your goal in the end.

You're right there; that's where they often have problems with how to take a profit or exit when they see that they already have a profit in this matter. What is the problem? Of course, the main reason for that is the presence of "greed.".

This greed is like a back-and-forth disease that only transfers to others when it is gone from another person. That's why we don't let it be that we have it, or if we have a target plan for when it will be sold, it should really be once it's even sold without thinking about it as if we're thinking twice.

We don't sell when we have profit but when we lose our capital we expect to sell our coins when our capital comes back. When in profit we should sell and wait for next trade. Whenever we expect extra profit we lose our money instead of profit. Excessive greed never brings desired results for an investor or a trader. Setting a specific target first is very important in business. If we have planned in advance what amount of capital and what amount of profit we will sell, then if we get that amount of profit, we can sell our coins at that time without being extra greedy. It is better to be satisfied with a relatively small amount of profit than to lose all the profit by being overly greedy. Those who are content with small profits are seen to make good profits overall.

You are actually right on the aspect of surviving first, most traders fail to understand that risk management is one important thing we as traders have to masters first, before venturing into trading, because if you capital is in tact, you can still try again, since opportunities comes every day, and every minute, so I believe that managing your risk properly helps you stay in the market.

Secondly, as a trader, it's very important that before venturing into it, you must prepare for your entry point and exit point, wether it's going your way or not, where you will take your profit if it going your way, and where you will cut your loss if it's going against you, with that, I believe that if you are discipline enough to keep to your rules, you will be more successful in trading than you thought.

That's the way to go.. in this space, except you've taken profits, you've not made anything. Same knowledge I apply in trading futures on the platform you mentioned. I DCA in and I DCA out. But I make sure to always leave a moonbag. NFA..

My first experience was when I bought btc, I didn’t realize I had to take profit I literally allowed the market take all it gave to me. Now with better experience and knowledge, I either take 50% of profit or all profit leaving the capital. $COQ and $WEN my Favourites Memecoins at the moment has give me more than 100% profits, every night I open my bitget app and look for buy or sell opportunities and also re-entry positions…

I have seem many of my friends, and even myself to think that because they missed ath, and while they are still up 1000+%, they count that as a loss and refuse to sell because it could go higher. Not only selling the absolute top is statistically nearly impossible, we still beat ourself not doing that. We beat ourself not doing optimal decisions no matter what. I still keep thinking some ATHs that i have missed as a loss, even when i sold, roi of them were insane and nothing you could ever do with stocks.

Talking profits is also hard because everyone around you will say you are crazy to do so. They will say this is nothing and it will be on top 10 marketcap easily or something. Obviously everything can moon, but when nothing is enough and exit targets are as delusional as "think this like investing to bitcoin at the start". We are most likely losing.

But i am glad i took profits, even now, when i sold lots of bitcoin in 2015. Because i used it for making my life, and my kids life better.
If i hadn't do that and i kept my bitcoins and eth, i would be rich for sure, but if i keep hitting myself for that, and all i see is mistakes in my life, i end up hating myself. But if i see them as lessons that i paid that much bitcoin worth, i just make sure that those lessons were worth it. Because i wouldn't like to pay for something that i already know.

And it's not like i didn't do well. Just in hindsight i just would have done better if i had known the future.

You are right and I have seen that happening as well, with myself and with others too. I always tell people that I know are holding that they should take profit if they know they have enough to sell a portion of it and keep the rest. What happens is that they don't feel satisfied with the profits and expect the price to go higher so that they can get more profit from their assets, but when that doesn't happen and the market starts going down, they realize that they should have done it but they still don't sell because they feel that it might be a small correction and the market will go up again for sure .

This is the reason why many people say that it is not easy to hold because you will sometimes be in situations where you will need to make some decisions that are hard to make.

Exactly. This is the most problem of some traders and people intending to make profits from their little coin and I can gladly tell you that this has happened to more than 50% of traders. Yes it has happened to me last year and I became so upset after making a profit of $300 and I was thinking the market is still pumping And I couldn’t take out my profits I lost about $150 out of what I have made so it was so sad. It is always good for you to take out Profit  as soon as you see something, this is actually greed I was so greedy. If not, I would have possibly get something.

Because of the uncertainties that sorounds crypto trading, where a trader can make profit now and lose everything in the same day, I think that traders should not be too greedy, when they make a reasonable profit, they can call it a day and take the profit. Trading is hard, because of the risks of loses, so it's not for everybody in the crypto space, it requires learning analysis, so when a trader beats the odds and profits, it's good to enjoy it, before it can disappear. Unlike investments where investors without adequate knowledge can hodle on a long term and sale with profit in bull run, without stress.

The end result is an increase in investment value whether in BTC or Altcoins, but what you said is true, if we already have a certain amount of funds and have made a profit, very often we always try to get back in by buying another coin/token that we consider to be appropriate, both technically and in terms of results. 20% and even up to 40% down, beyond our understanding because of the volatility of the market.

Making a profit is not an easy matter, just like price movements, if they rise very slowly and if they crash, the process of falling is very fast. but that's the biggest sensation and everything is tested here, both our patience, emotions and overall mentality.

That's not unusual. Many of us tend to become greedy if we are not satisfied with our current profit, wanting to gain more. It's because of our greed and for not having contentment, believing waiting a bit is better. Well, there's nothing wrong to have such strategy because who don't want to gain huge, right? However, we need to be more wise to not let the opportunity to take profit passed by.

Anyway, we have different strategy as a trader/investor. Thus if you already experienced to have losses before, then you're aware now what you should do.

And also for thought, we should actually consider that all of these has already been achieved in this week's cycle. And many time before already.

Price breaking out? February was biggest green gap between open and close in all history. That's for me the real green god candle

69k is already easy 2x from 34.5 which was not too long ago.

Pumped by whales? Yes, all the time, also why it crashed quickly after ATH. Whale liquidation

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.

I know what you mean, but it depends on which category an investor or trader falls into? because the decision-making goals of traders and investors are very different, long term and short term. If we only refer to Extreme Greed, it can happen every day or even every hour according to the crypto held. But in terms of profit percentage, it also needs to be taken into account, especially long-term investors who have just experienced an increase in PNL again after being trapped in the bearish zone for a long time may not necessarily be able to immediately take the sell option because there is a target that they want to achieve from the start. Long-term investors like us don't really care about watching the Fear & Greed Index every day.

Just like buying gradually, we can also take profits gradually too, or at least we can secure our capital at the beginning. I think this is a great way to keep enjoying the upside. When the price reaches $50k for example we can sell some, when the price goes back up and reaches $60k we can do it again and so on.
Maybe everyone wants to get the maximum profit and sell everything at the ATH, but the problem is that we don't know where the ATH point is and the safest way is to gradually take profits. Unless we are really ready when the price reverses, but I don't think anyone is ready for that and will definitely regret it a little.

Early on, when traders are just making their first trades, I do think that surviving should be the priority, since the majority of the traders out there lose all their money before they have a chance to actually learn how the markets work, so a trader which is concentrated on getting through those difficult months, instead of being concentrated on making profits, will eventually do better.

However once that period is over, traders need to concentrate on getting as much profits as possible, since that is the main, and some may say the only, reason to trade at all.

Yes I agree. The Euphoria is very difficult when we are hitting ATH everyday but you need to set a target and stick with it.

I am sure last year many would love to sell at $50K but when $50K hit they are all wanting to sell at ATH, now that ATH hit they want $100K. Eventually it will reverse and it will go back to $50k and even head lower.

Hence why it’s best to take partial profits from time to time.

I agree with you. That's because this thing happened to me many times. I once invested in kypto currency and I made about 70$ profit but I lost a lot when I made more profit. So I believe that most of the people who invest in cryptocurrencies have been victimized in situations like this, so if we want to control ourselves, maybe we won't have this happen again because we will have people who make a little bit more profit doing that, maybe most of the time we are going to suffer.