Take Profits! Its important! - page 7.

Asiska02

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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.

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, 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.

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.

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Quote from: ajiz138 on March 10, 2024, 12:12:03 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.

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Quote from: Oshosondy on March 07, 2024, 10:19:25 AM

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.

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, 06:30:39 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.

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Quote from: Sophokles on March 10, 2024, 06:50:28 AM

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

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.

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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.

99% of people that comes invest in crypto are short term investors that are hoping to sell at the top but most them end up with nothing or even have the initial capital they invested. Instead of some of them to sell and take their minimal lost, they watched their investment wash down most especially the people that invested in altcoins. These coins seems to be the most profitable coins in every bull run but when they collapse, the damage is more than what you can make in a year.

Take a significant profits when you have achieved much or just remove 50% of what you have gained together with your investment. If the rest appreciated again, sell another 50% of profits and leave the rest. By the time you observe some anomalies in the market, kindly sell the rest and sit back. If you study the market and it's suitable enter again, repeat the process but if the market becomes bloody, stay away a while and come back when you think it's okay to invest again.

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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 don't think this theory of selling whenever a profit is available is practical for everyone because people own crypto for different reasons, say for example inheritance for their kids or family, or use it as a way to counter inflation or probably og believer of cryptocurrencies...

This whole notion of getting profits out aren't for everyone unfortunately,if you can do do and if you can't keep holding.

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

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 guess this message fits in well for traders such as those involved in leveraged trading, or charting and I agree with this.

ajiz138

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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.

Dzwaafu11

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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.

These things are happening to many cryptocurrency enthusiasts, especially those who are active in trading cryptocurrency. Most of the time, they lose due to a lack of understanding or not being able to control their emotions, which is really affecting them in the market. Although some of them, due to insufficient knowledge, don't know what to do that will help them in some points, so they lose money. And again, greed also contributes to many people's losses, so it will be good if some people take their eye off of too much profit. They should just do it in a way that will favor them because too much expectation may land people in losses.

Quote from: Sophokles on March 10, 2024, 06:50:28 AM

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

All these are greedy, which I can say is one of the hardest things to escape in the market of trading cryptocurrency, but to me, traders can do this as long as they want to succeed in their journey by using the strategy that suits what they are looking for as profit. However, they should know these so they won't be losing all the time. There is no legit thing to use that will help; it is our knowledge and skills that will be used to succeed.

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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.

It's been in my mind for years already but still, thanks for reminding me.
For sure, this kind of advice helps one or two investors out there who might forget to create their selling strategy for the upcoming bull run.

I didn't sell all of my assets way back in 2021, and what I did is to just watch the markets go up, and of course, watch the markets go down as well. I don't want to call myself greedy because of that decision, but I would say that it will be one of the most disappointing decisions that I've made in my investing journey.

Quote from: Joseph-P on March 07, 2024, 10:13:08 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 hope you found this useful. Keep up the flow, and may the force be with you.

1st priority in crypto is surviving. No, it isn't. It's knowledge. If you have knowledge, you will learn how to survive in the crypto market. If you have knowledge, you can make better decisions that will make you survive and lessen your losses. Profits in 2nd place? It's kind of connected because if you have knowledge, you will survive and therefore, you can make more money. Knowledge is what you need for you to survive and make money as well.

Overall, this tip will help newbies out there. Still, thanks for the reminder.

Bloodseekers

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Quote from: Awaklara on March 10, 2024, 08:50:10 AM

Quote from: Sophokles on March 10, 2024, 06:50:28 AM

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

actually, it doesn't need to be that difficult to make a peak target. All that needs to be done is to be consistent with the analysis that has been carried out. When investors experience a lot of doubt in determining the peak price from their analysis, it shows that the analysis carried out is not very strong and there are still doubts.
Focus and consistency with what has been analyzed, that is the best key to continuing to make a profit without feeling regretful about the targets you have made or the decisions you have taken.

It is true what you said, those who have not been able to properly analyze market conditions will of course have doubts in determining the peak target for the investment they make and if they are able to determine the peak price in analyzing the market, of course they will be able to know the exact time. right to be able to get a profit from their investment, so it is very important for those who want to invest that they can set their investment targets without doubting the results they will get.

Awaklara

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Quote from: Sophokles on March 10, 2024, 06:50:28 AM

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

actually, it doesn't need to be that difficult to make a peak target. All that needs to be done is to be consistent with the analysis that has been carried out. When investors experience a lot of doubt in determining the peak price from their analysis, it shows that the analysis carried out is not very strong and there are still doubts.
Focus and consistency with what has been analyzed, that is the best key to continuing to make a profit without feeling regretful about the targets you have made or the decisions you have taken.

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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.

When you are in that situation (extreme greed) I don't think you still think of taking a small profit but certainly thinking of a huge amount.
Too much greed will never end well other than regrets. As a trader, we can't be foolish and think we could earn more but instead, take the opportunity even if it was just small amounts.

Many people fail because of too much greed, not only because they lack knowledge and skills. Earning small every day is better than every big once in a month.

Sophokles

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It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

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Quote from: adpinbr on March 08, 2024, 05:51:48 AM

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.

It is time for them to make a profit they will want to wait a little to see if the price might increase and even if the coin is little as far as your profit is there I don't think is a bad idea because you can still invest as little as it may be. but the problem I have is that as you are making a profit you can be taking profit one after the other. and leave your capital you can also reinvest depending on the decision that the trader wants to make. there is one thing in Bitcoin never assume what will happen in the market if you notice you are making a profit take it. if not you want to hold for a very long time. if you hold for a long time then you have to hold. and I know how it feels when you lose profit the best thing you can do is to know what to do at a particular period in the market if not you will still lose profit.

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Quote from: FinePoine0 on March 09, 2024, 09:05:45 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.

Whenever a trader covets extra money, he must face losses. In the crypto world, I have seen many individuals who get overly greedy lead to doom. Start trading with a small target, then sell when the target is met and buy when the price moves within your target. But there are people who take a trade with $500 and want to sell it for $1000. These people return their assets to zero. Because their greed is too much.

That's why being able to follow the goal you already set should be important. If you are a knowledge trader and analytic, then you should be able to measure or plat the money you can only get, the approximate amount of money you can earn, and the limit of your analysis. Even though you want a higher profit, you should set the previous TP into the SL, meaning that, for example, if your first TP is equivalent to $100 profit and you see that your trade could get more profit, you should adjust the SL into the $100 position in order to earn even if you hit the SL. That is the most logical and practical way to trade. You should be wiser and think of securing a profit if you want more. We all sometimes can't help ourselves to stop our greed from taking over, so if you want to be more greedy, you should always have security in your profit.

Patrol69

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Quote from: Distinctin on March 09, 2024, 03:10:18 PM

Quote from: Patrol69 on March 09, 2024, 12:37:03 PM

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.

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.

Our trading purpose is to make profit but sometimes we think that the profit will be more double than the profit which is enough condition we don't sell our coin at that time but wait more. But if you sell at that time and wait for the market to come down again, then there is a possibility of making two profits at the same time. I have noticed in the case of those who trade that they can't make a profit by waiting for a long time. If short trading can be done to get profit in multiple trades then that trading is definitely good for traders.

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I think the strategy of keeping the money can't be taught to someone.Greed is a built in fault in human beings and it only washes away from someone's heart once he or she is deceived by the negatives of being greedy. These are mostly the problem of newbies mostly.

What happens here is actually that on someones saying they buy a certain coin and then they get some profit from it but because of inexperienced knowledge they get greedy and even after getting good profit they still want more. Now they either wait for it to pump more or they invest in some other meme coin now every meme coin can't give you profits so in this cycle they lose their profits.

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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.

Whenever a trader covets extra money, he must face losses. In the crypto world, I have seen many individuals who get overly greedy lead to doom. Start trading with a small target, then sell when the target is met and buy when the price moves within your target. But there are people who take a trade with $500 and want to sell it for $1000. These people return their assets to zero. Because their greed is too much.

Topic: Take Profits! Its important! - page 7. (Read 1599 times)