Topic: Take Profits! Its important! - page 8. (Read 1589 times)

This topic reminds me when I joined this space exploring spot trading to take little profit. Greed can be crazy you know. I remember trying to take advantage of of the early listing of DOT on Bitget and instead of taking profit with the little profit realized I decided to wait for the unrealistic short term profit. The good new was it was on spot and I just had to sell a little amount at loss and hodl the rest.

You would definitely be losing up big time if you wont really be taking up profits and this is something that you should always bare it on mind on the time that you are dealing up with this
space on which you would really be needing up for you to secure profits as much as you could. We do know that this market is really that truly upredictable and there's no way
that we could really be able to know on where it would be heading and on the time that you do see greens then secure it out as much as you could.
Dont make yourself that being too greedy when it comes to money because if you wont really be that mindful much then you would really be that on subject into
that missed opportunity which would really be giving out that huge regret into you.

I was once in that position because I thought the coin I bought was very cheap and the potential to go up so much, but the zone dragged me down in price, my mistake was that I didn't buy again when the price was deep/base between the confirmations, good projects will be in demand no matter how low. because the news is also so influential as a community driver and crowds the queue. but I'm not too sorry because some of these assets I bought bitcoin and stable coins.

You view yourself as a scalper so it is possible to buy assets and sell as quickly as possible when the target hit you reach exceeds the daily limit, so that you get multiples faster and spend it back into other coins is a good solution, but don't you want to sell coins partially? Because it could be a good price, although not so bright but there are 2 possibilities when you can buy at a low price and sell the remaining assets when the pump is suddenly.

I don't want the assets I bought to plunge cheaply but some people are waiting for that moment, so I think in two conditions

Greed is the key to lose, not a winning solution. If you ignore small profits, you will definitely miss the bigger profits next in line. This is why always appreciate small profits and always take time to sell irrespective of its amount. It’s better to take small profits than to never profit at all. While trading outcome can be uncertain, but if you take time to sell every potential profits you’ve seen, then losing will be lessen and reduced. Always take profits, because that is always our original goal from the very start.

One of the causes of losses on trading platforms is excessive profit. Those who are overly greedy on the trading platform cannot earn profits from their trading and thus lose their profits quickly. Especially those who trade on futures trading platform, you need to avoid over greed because if you don't avoid over greed on future trading platform, you will lose yourself from success at any moment. I have found from my own experience that whenever I went to gain more I lost my excess gain. Currently I am connected to the trading platform but I am not very greedy I now sell with small profit and wait for the market to dump if it is dumping and from there I trade again. When it is again a little more profitable then sell again this is how I currently trade I am taking profit.

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.