Take Profits! Its important! - page 7.

boyptc

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Quote from: milewilda on March 07, 2024, 05:29:37 PM

Quote from: boyptc on March 07, 2024, 05:17:38 PM

It's really simple to say that we should take profit but you know what's stopping the most from doing so? Greed.

Because they think that when we're already on some high with our portfolios, we think that it's going to be more and our greed thinks that we should hold some more because it is not yet the peak and there's gotta be more.

That reminder will be realized by those that have missed taking profits on the last bull run. This time, they're going to promise to themselves that they should not miss this opportunity of taking some.

Totally agree on this one and you would really be having these kind of words into your mind into that particular situation or condition;

#What if the price would be reaching out or breaking its all time high?
#What if it would be that an easy x2 or more from here?
#Green God candle?
#Being pumped by Whales?

For sure you would really be having these kind of thoughts on which it would really be that ending up for you to hold up your position
and you wont really be selling even if you do already have that huge profits already. This is one of the issues that people do face on on which
they are really that becoming too greedy until they would be missing out those profit opportunity and ended up on regretting in the end.

DCA in taking profits too, so that you won't be missing every window of pump. Decide on how much you're going to sell on this bull run and see if they're going to be reached.

But if not, DCA in profits too like for every price increase, you'd sell a portion of your holdings.

Just don't miss any window of moment when you're about to take profit because it's normal that we take profits on this season.

Dr.Bitcoin_Strange

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Go after the goal... Go!!! It is worth getting!

It is very easy to say, but when prices are pumped, the investor can just be filled with greed and the desire to stay a little longer to accumulate more profit, and if they are not careful enough, they can just lose all the profit they have already earned.

In the past, I have had such experiences too, where I already made a huge profit, but because I was hoping to earn more profit, the market volatility went against my prediction, and before I could zoom off from the market, I already lost most of the profit.

Recently, I also had such experience with future trading, but I've learned not to become too greedy and make wrong calls due to emotion while trading.

To prevent trading with greed and emotions, the investor needs to have an initial target price for which they want to sell off their coin. Don't wait until the market begins to pump massively before setting a selling price.

Rengga Jati

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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.

In trading, taking profits must be the main goal of the activity. If it's trading, of course, a trader must manage numbers to take profits, which are taken from various analyzes that produce certain numbers.

Taking profits is really important, because that's the main goal, right? Because trading is quite different from holding. If we hold, we probably won't think too much about the current rates of the clone price. As long as it is a coin that has the potential to rise, holding for the long term will not be a problem.

However, if it's trading, we are required to have a certain number to take profits. At least, usually we will set the TP number with a certain margin, or certain settings. If we are too greedy in trading, this will actually be dangerous for us. Because sometimes, we will be late in capturing that moment.

milewilda

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Quote from: boyptc on March 07, 2024, 05:17:38 PM

It's really simple to say that we should take profit but you know what's stopping the most from doing so? Greed.

Because they think that when we're already on some high with our portfolios, we think that it's going to be more and our greed thinks that we should hold some more because it is not yet the peak and there's gotta be more.

That reminder will be realized by those that have missed taking profits on the last bull run. This time, they're going to promise to themselves that they should not miss this opportunity of taking some.

Totally agree on this one and you would really be having these kind of words into your mind into that particular situation or condition;

#What if the price would be reaching out or breaking its all time high?
#What if it would be that an easy x2 or more from here?
#Green God candle?
#Being pumped by Whales?

For sure you would really be having these kind of thoughts on which it would really be that ending up for you to hold up your position
and you wont really be selling even if you do already have that huge profits already. This is one of the issues that people do face on on which
they are really that becoming too greedy until they would be missing out those profit opportunity and ended up on regretting in the end.

boyptc

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It's really simple to say that we should take profit but you know what's stopping the most from doing so? Greed.

Because they think that when we're already on some high with our portfolios, we think that it's going to be more and our greed thinks that we should hold some more because it is not yet the peak and there's gotta be more.

That reminder will be realized by those that have missed taking profits on the last bull run. This time, they're going to promise to themselves that they should not miss this opportunity of taking some.

Natalim

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It is impossible to sustain trading if we never earn some profit. We make this not to survive but to multiply our money.
Taking a profit at least $100 per week as our target may sound good. We can say it was just a small amount, well yeah but at least we earn some. We can't be too greedy here in trading. Having a chance to earn at least 2-3% from our capital in every placed order is big enough as we have to remind ourselves that we can't assume the price will continue to rise and stay high as we can't just set aside the possibility of a huge drop after the pump.

goaldigger

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Greed is normal but it can be more risky if you will not follow your target price.
Every time I trade I always have my target price to take profit and I should commit on that because I’ve done a lot of mistakes already with my trading before, and I can’t afford to do the same mistakes again. Taking profit id advisable, not unless you’re ready to take more risk and you can afford whatever the result is.

stomachgrowls

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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.

The biggest regret that i havent been able to do is into those ICO days on which the coin that i have been holding did pumped and that coin was came from a bounty campaign which it do only takes 4 weeks
to have that in signature and get that token which it pumped and i do make some profits or money costing $100,000, but guess on what happened? I have been that too greedy on which im waiting for it to hit
another x2 or 100% on which on the time that i do get caught by the dumped and able to cash out when its already $1000 on which this gives out that huge regret even up to now.
This is why it would be always important that you should really know on when to take profits so that you wont really be ending up on having that regret.

Somehow there are opposite side of things on which taking up profit too early could really result into that missed opportunity on becoming rich and this do happened to me sometimes or several
situations on which there's no doubt that this is why people do such things because they are really that hoping that they could make even more.

Oneandpure

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I had very bad experienced with holding my altcoin assets without try taking profit after raising up to the higher price and my dreaming will make most higher price in the future. I lost much profitable when keep holding some coins raise up to $5 from my investment price under $1 because faith with coins potential after listing on the top exchange will easily make new higher price later before my coins holding delist on top exchange the end way becoming scam coins without values yet.
Taking profit is very important for your investment assets, don't be greedy and high expectation with coins price pump because loss chance to take profit until price going drop and badly if your coins assets investment have be scam project in the future. Before losing opportunity take profit don't waste your time expected or dreaming will raise higher price, set limitation of profitable earn around 10% until 20% and don't too high dream earn more than 1000% profit for taking profit.

Hamphser

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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.

The main reason on why people do really hinders out on not to take profits is that they are really that wishing that they could get those high multipliers specially if you are dealing on with those meme coins trading but if you are sticking with those top coins or alts then taking profits is also that something that you should really be baring up in mind because if you dont then it would really be something that gives out that huge regret and ive been able to experience it for how many times with this kind of situation on which ive been and i could say that this is really that something that you wont really be liking on be on such situation
again and again but well it cant be avoided sometimes because we are really hoping with that huge profits that we are seeking and this is why we do have this kind of approach.

Ben Barubal

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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.

The important thing as an investor is that you know whether you are a long-term or short-term holder. And when you know where you are in the two I mentioned, you should just stick there. Of course, if investors don't know anything about this field, they often enter in the long term.

And of course, you should also have an aim price target for when you will sell it. and when it reaches or has reached your price target, sell it because that's a profit, and don't let the so-called greed get in.

Ndabagi01

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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.

As a trader, you should be quick to take profits and quick to exit a losing trade, but often the opposite is what traders liberate on. We delay to take the profit and also hesitate to leave a trade when it is already going against us because of the feeling that it will come back and hit the TP. As you mentioned, trying to survive should take precedence over making a lot of money at a go or after a few trials.

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

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 occurs when we have overconfidence in our analysis and believe it will undoubtedly hit the TP, but it does not always work out as planned. When I place a trade and, by chance, check to see if I'm already in profit while the market is still moving sideways or in doubt, I immediately exit and take the small profits I've accumulated. That will help not to result in a large loss while trading.

Maslate

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Quote from: Beparanf on March 07, 2024, 11:21:51 AM

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

You shouldn’t invest money if your priority is keeping it. Just put in the bank and wait for the annual income if your goal is survival of your asset rather than profit.

You should invest only what you can afford to lose so that you are free to take necessary risk to make profit. Taking profit is always a good idea since any form of profit is good. But your suggestion of prioritizing the safety of your asset first before the profit will just limit your earning potential since you will keep early selling when there’s price volatility that is normal in crypto.

Invest to make profits, not to safekeep your future profits. Otherwise, you will definitely keep missing opportunities to make profits because you are being greedy while waiting for the perfect opportunity to sell until you end up selling at a loss. I have been doing this way back then but I have only made little profits and the rest are just missed profits. So I don’t want to repeat the same mistake again most particularly that the market is unpredictable. Sell when there are potential profits, hold when there’s still none.

famososMuertos

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What you mention is something specific and it works at a certain moment, it is not the whole, obviously without money we do nothing, there is a phrase that is more assertive than a very misused one that is proclaimed as a "drug" to risk, and it is: "Do not invest money that you can afford to lose," it is the loosest phrase there is, since many confuse it with its true reality of use in investments. Anyway, the phrase that replaces that is "there is a tomorrow to invest, don't spend it all today."

(It is a vague essence of your idea in the OP)

What you mention is a circumstantial idea or strategy, it is not something that eliminates profit as an objective.

Since if you maintain that idea over time you will not allow yourself to eventually have a tomorrow to invest, so profit is in fact fundamental, so you have to have yes or yes, profit and loss phases, but stay in "safe" mode It will not always save you from losses.

kentrolla

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Yes we need to have a strategy because I am someone who has been around crypto for a while but I have made this mistake numerous times as greed take better control over us and after a while we don't even start applying SL and I have lost huge amount in the past just because of difference of few points I think we need to aim for smaller profits with multiple trades and set up a smaller profit range and if the market is good like it's now we need to be active and play with multiple OCO range in order to avoid losing and maximizing the profits. I am not much into trading now but will be back to trading and decide an strategy like I will keep aside certain ratio of profit separately.

crwth

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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.

snowpega

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

In my opinion, we should book some ratio of profit here as the market is in extreme level of greed, and Bitcoin already has broken its last all-time high, Well i have not booked any amount from any altcoin I am still holding them because any of them has not hit even single of my fixed target. I have booked some ratio of profit from two points first at the time when bitcoin was at $60K and second, when bitcoin was at the price of $68K all these profit bookings were done with the intention of buying back so that I can accumulate more bitcoin well till that time I am just watching the market to make it happen (correction of the market.)

Booking with the rasing of price is a very important thing as I remember one incident of my friend he had invested a good amount in one project and these days the market was in greed he did not book any profit using any booking strategy he just fixed to a certain point if the market will reach here I will book then market made a big down move and he has to face a good lose haha. So, I recommend bull season is on the way to make one good book strategy to overcome loss problems. in my case, I am using the DCA technique for booking profit. DYOR!

traderethereum

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When greed takes over us because we want to get bigger profits, we may have lost the opportunity to take advantage of the profits that we should have gotten. However, many traders still make this mistake because they think the coin price can still rise so that their profits can increase.
They don't remember that market conditions can change immediately after rising high so they have to be wise in responding to it. If they want to profit, they must sell their coins immediately.
If they believe the coin can rise high, they can hold the coin to sell at a higher price. But once again, they need to know whether this can still happen or whether the price will experience a correction after reaching its highest price.

Nrcewker

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Yes greediness really impact a trader’s profits. Due to greed, traders often forgets to cashout or sell the coins, for which they miss the potential profits and at last they end up making losses. The solution for this can be, if they set profit targets for each coin, then definitely they will sell at that profit point. In this manner you won’t be taking more risk and will be making at least some profits. Traders need to understand this concept clearly.

mk4

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Ah, the classic take profit vs hodl.

There are simply some trades that are meant to be made in a short time span(hence taking profits early), and there are some trades that are made to be held for longer periods of time. There is simply no one-size-fits-all advice for this industry.

Topic: Take Profits! Its important! - page 7. (Read 1249 times)