Take Profits! Its important! - page 9.

Dickiy

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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.

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.

pusaka

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Quote from: adaseb on March 07, 2024, 11:51:32 PM

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.

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.

wxa7115

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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.

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.

adaseb

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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.

synchronym

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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.

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.

poodle63

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Quote from: Russlenat on March 07, 2024, 05:59:47 PM

Take profits simply because it’s everyone’s goal in the market. While hodling also serves a good option, but hey we won’t be hodling for the rest of our lives. At the end of the day, all we need are profits and not those coins who will lose eventually their value in the market.

However, know when to take profits and know when to keep hodling. But as a friendly advice, take time to sell but never sell all your coins. There’s always a lot of bull runs to come, so if you can’t maximize it this year, then prepare for the next year.

though indeed i do agree that we won't be holding for all our lives but i can see the reason why people are really eager to hold as long as they can they want to maximize their profits
frankly speaking there has been many cases where people missing out on some life changing opportunities just because they are trying to take profit too early the profit that they taken are miniscule and alter the market
pumping like crazy and they could've made some big profit but they just don't have the patience its why there's something called diamond hands.
though if im being honest determining the peak is really difficult thing to do because frankly nobody knows when we will be hitting peak.
but i think we can agree that if we reached certain target of our investment its always great to be getting out of the market and wait for another bullrun to accumulate.

boty

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Quote from: Russlenat on March 07, 2024, 05:59:47 PM

Take profits simply because it’s everyone’s goal in the market. While hodling also serves a good option, but hey we won’t be hodling for the rest of our lives. At the end of the day, all we need are profits and not those coins who will lose eventually their value in the market.

However, know when to take profits and know when to keep hodling. But as a friendly advice, take time to sell but never sell all your coins. There’s always a lot of bull runs to come, so if you can’t maximize it this year, then prepare for the next year.

Of course, everyone who invests will hope to get a profit from the investment they make, but if they are too greedy in the investment they make, of course they will not be able to get a profit from the investment they make, so it is very important for those who invest to know when to make a profit. profit from the investment they make because if they are greedy of course they have to wait again until they can get the profit back.
Yes, of course we don't have to sell all the assets we own and we can take profits according to our wishes and still reinvest for our future.

Russlenat

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Take profits simply because it’s everyone’s goal in the market. While hodling also serves a good option, but hey we won’t be hodling for the rest of our lives. At the end of the day, all we need are profits and not those coins who will lose eventually their value in the market.

However, know when to take profits and know when to keep hodling. But as a friendly advice, take time to sell but never sell all your coins. There’s always a lot of bull runs to come, so if you can’t maximize it this year, then prepare for the next year.

boyptc

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Quote from: milewilda on March 07, 2024, 04:29:37 PM

Quote from: boyptc on March 07, 2024, 04:17:38 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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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, 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.

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, 04:17:38 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, 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.

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, 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.

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, 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.

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, 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.

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, 10:19:25 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.

Topic: Take Profits! Its important! - page 9. (Read 1589 times)