taking profit can be hard sometimes. - page 6.

jjdub7

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Quote from: doctor877 on February 14, 2021, 05:06:26 PM

some traders and investors find it hard to take profit even after making good profit on investment. this can be as a result of aiming to sell at a desired price that is higher or hoping to hold the tokens for more longer time. its not everyone that can do this patiently and some usually regret their actions. the secret is to make decision and stand by it and also be satisfied by little profits , take out your investments and some little profits and then leave the rest for long term.

kindly share your ideas that might be helpful to solving this issue.

If it wasn't difficult, everyone would invest and trade in the market. There are different profit strategies that depend on different factors.

It depends on whether you want to have a profit in the long run or in the short term. It depends on what capital you have. Your knowledge in the field of cryptocurrencies and market trading in general is also important.

It is difficult, so not everyone does it and many people are afraid of it.

Janation

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There is this mistake I kept doing in the past.

When the price rise immediately, I will be waiting for a certain price and immediately take it out. The problem is that the investment I am making is not that high and I will be paying fees that are bigger than my profit. I didn't notice that those fees are eating my profit until my friend pointed it out to me. He taught me some tricks to save some of my funds to transaction fees.

Jo_Wall

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But taking a profit from ETH is not Grin

Twentyonepaylots

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Seller's dilemma it is. Most experienced investors and traders are prone to this tyoe of issue because they know well how hard it is to see that their patience could've gotten them a little farther. Still, when this thing happens to me, I always say that it could be worse, and it's good that I never let myself be fomoed instead.

Japinat

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Quote from: geegaw on February 18, 2021, 08:49:02 AM

Quote from: gurunanakji777 on February 18, 2021, 08:02:40 AM

Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.

If a trader doesn't know how to handle their profits, I can only say that before starting work, they didn't define the target they wanted, they didn't even have a backup plan and when unexpected situations come to them, too many options confuse them and sometimes it will be a failure in investment, end up in loss as you say while their selves are making a profit. My advice is we should maintain certain goals, set stop losses with positive returns, this market does not have absolute profitability, sometimes we should accept little profits, instead of crying in failure

if we have a plan, then stick to it. Some people find it hard to follow because they are emotionally affected by what they have heard around, what they thinking is negative. But rather they have to follow what is their plan, the quickest they change it. With this, it is no surprise that they will never reach what they aim for, they will go anywhere.

Anyway, we can't say that there is easy money in crypto and we should not have to think about it. Crypto investment filled with a lot of market challenges but if we are able to manage this thing, this could be just an easy game.

hari9981

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Quote from: rat03gopoh on February 18, 2021, 09:44:35 AM

It's hard because the plan always changes every time the market conditions change, especially during bullish conditions where many traders are delaying taking profits in search of bigger profits.

Traders without a profit plan always expect to sell at the top, but they buy and sell when they panic. Sometimes once in a while they manage to make big profits and it makes them satisfied, even though their percentage of losses is bigger than the small losses that are accumulated every day without realizing it.

By the way, this is an example of a situation of traders without a profit plan when they are in front of the monitor. Grin

Most of the traders panic because the money that they put on market is not a free money which not be used in the near time.
So, when the money is gonna used and the market not go as they plan, they will got panic even they have plan when they trade.

ElaineGanda

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Quote from: ice098 on February 17, 2021, 05:27:23 PM

Quote from: ElaineGanda on February 17, 2021, 03:48:56 PM

Well, it should be hard always. I mean, most of the newbies in crypto only want an easy money mindset. Don't even want to know how crypto works and how they can benefit to it. That mindset is nothing but trash, not only in crypto, even in other aspects of life. For you to learn and master the skills you want, you should experience hardships for it.

Yes it is really hard to take profit because of we want to earn more and we are aiming for a larger profit but sometimes we're afraid that we might did not get profit because market is volatile, that's why I am telling myself and all the people ask me, just tp when you are happy any profit is a profit as long you have more than your investment it is gain already, I don't want to be greedy it will be harmful for me and for my money.

All business or other sources of income, started in small profits only because that is when they grow and make some progress. Actually for me, greediness is a good thing as long as it is manageable and on disciplined manner.

rat03gopoh

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It's hard because the plan always changes every time the market conditions change, especially during bullish conditions where many traders are delaying taking profits in search of bigger profits.

Traders without a profit plan always expect to sell at the top, but they buy and sell when they panic. Sometimes once in a while they manage to make big profits and it makes them satisfied, even though their percentage of losses is bigger than the small losses that are accumulated every day without realizing it.

By the way, this is an example of a situation of traders without a profit plan when they are in front of the monitor. Grin

geegaw

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Quote from: gurunanakji777 on February 18, 2021, 08:02:40 AM

Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.

If a trader doesn't know how to handle their profits, I can only say that before starting work, they didn't define the target they wanted, they didn't even have a backup plan and when unexpected situations come to them, too many options confuse them and sometimes it will be a failure in investment, end up in loss as you say while their selves are making a profit. My advice is we should maintain certain goals, set stop losses with positive returns, this market does not have absolute profitability, sometimes we should accept little profits, instead of crying in failure

huu78

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Quote from: LogitechMouse on February 18, 2021, 04:07:18 AM

Quote from: doctor877 on February 14, 2021, 05:06:26 PM

~
kindly share your ideas that might be helpful to solving this issue.

Stick to your plan.

I know that this is very easy to say but very hard to do but you must do it. If your target price to sell has reached then at all cost sell it.
I can say that easily but I can't apply it to myself for some last minute adjustments in my targets. My previous price to sell is at $20,000 but since I don't know where to use the money that I will get when I sell it, I decided to hold it longer and right now it is the best decision that I made

.

What takes it hard to take profit sometimes is the fact that there is a part of your mind saying that, "What if this will go even higher, I will miss all those profits when I sell it now".

Of course everyone or most people will think that even though at first we have set a target when to sell and buy, but when faced with real market conditions it will be difficult.
sometimes we become greedy and cannot think logically, sometimes we become cowardly and cannot make choices.

Maslate

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Quote from: gurunanakji777 on February 18, 2021, 08:02:40 AM

Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.

They look undecided because they don't have a plan. That is simple, they will somewhere and it might be the reason for their big losses.
Because for me, I'd never waste every opportunity I saw. Just selling it for at least a 5% incline, I'll surely take that. In fact, we can buy back again once it drops again.

It is all about the strategy we use and it is sometimes we need to sacrifice. We can't be a long-term holder always, we have sometimes to look at what is happening to the market and to our investment. If we are already in profiting, maybe we are not so hesitant to make a sell rather than to miss it.

gurunanakji777

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Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.

palle11

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Quote from: akirasendo17 on February 17, 2021, 10:46:55 PM

The reason why taking profit so hard sometimes is because of our expectations, we are aiming so high that we really thought it's going to be, or we have a target value, and also a past experience where we sold our token in the cheapest price in the market and wakes up the other day the price has gone up 20x higher the price we sold, and also greed we also are hesitant to take profit because of greed that we are dreaming like its gonna be like bitcoin price someday.

The expectation is why we lose after waiting for huge profit. There are times that we have the chance to off with some profit and we keep our fingers on the button and wait to go off but eventually lose all. If we take away greed too to understand that we still can make more money next trade, we do great profit turn around. Profit should be taken little and little or we lock in our profit no matter how little it is. Profit isn't hard to take but selfishness is the big challenge for trades. Bitcoin price was around $48k last week and yesterday was $52k , now at $51,712 these are all profit for unselfish trader.

CoinFoxs

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It always happened with new traders or investors they are in hurry and want profit in a shorter period of time they don’t have knowledge about the market. First do a market survey read experienced traders opinion then make a decision of selling your coins. It happens with me and with my friends when we are new in crypto world back in 2013 but now we only sell coins when we see that the coin is at their ATH price.

ElmedoRator

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It's like asking me when I get a return on your investment, which means it doesn't matter here. Basically when you have a profit you can do whatever you think it will be good, I find people often miss more than they get the opportunity to increase profits, instead just needing to hold a coin for a long time and waiting for it to go up is not easy, when many people are not patient and wait for what they choose, and they tend to end things sooner.

Greatdev

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I'm in gains already, I don't hold just a single token which can make me feel unsatisfied, I have many and I'm making ROI from most of these altcoins, isn't thats all that matters? Any profits from 20% I would gladly sell and take profit, this bull season won't last forever, stop fooling yourselves

LogitechMouse

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Quote from: doctor877 on February 14, 2021, 05:06:26 PM

~
kindly share your ideas that might be helpful to solving this issue.

Stick to your plan.

I know that this is very easy to say but very hard to do but you must do it. If your target price to sell has reached then at all cost sell it.
I can say that easily but I can't apply it to myself for some last minute adjustments in my targets. My previous price to sell is at $20,000 but since I don't know where to use the money that I will get when I sell it, I decided to hold it longer and right now it is the best decision that I made

.

What takes it hard to take profit sometimes is the fact that there is a part of your mind saying that, "What if this will go even higher, I will miss all those profits when I sell it now".

kesmex

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Quote from: Banulit on February 17, 2021, 11:58:42 PM

This really true especially if you have a desire and expected value which lead most of the time into losing some of your funds. That is why we need to be contented in every profit we can earn even if its small amount or big amount, always keep in mind that profit is a profit.

That's right, no matter how much profit you get, I don't think we underestimate it,
what is certain is that even the smallest profit is still valuable compared to not getting any profit at all,
and the important thing is we continue to do our best to be able to profit

hulla

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I don't see what makes taking profit to hard in any trading/investment decision if the investor/trader in charge aimed at a certain price range and not greed to stand on the plan on he had to begin with. But, if such trader/investor finds himself in the dilemma stage he can sell 50% of the investment while setting a stop loss strategy on the remaining holding.
Greed or not it is better to have good knowledge about saving capital which I believe is very important.

forexandcryptoauditor

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You are absolutely correct. However, to to have that decision point at correct time matters. And this is a challenging thing for most of us. The good trader can feel the points when to sell or buy at right time. But as you said, if we see some profit, it's good to book some .

Topic: taking profit can be hard sometimes. - page 6. (Read 1594 times)