The best time to take profit in Trading - page 29.

DiceChain

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Activity: 353

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Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

Profit is the ultimate target of any trade. Therefore locking profit is always exciting. The question is the timing and amount for locking profit. Hit the iron while it is hot. So, lock profit when the market is boom I mean green. And again buy when the market is bearish I mean red.

Reid

hero member

Activity: 3052

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You are telling the basics which I think most traders here already knew.

One thing most of them forget is when the market is at red. I saw myself making errors most of the time because of this.
Example is you bought a token at 10 sats. Suddenly the market of that token falls at 5 sats but is still equivalent to the same USd or maybe much. So let us say you are at profit even with just 5 sats at your hand.
Is it wrong if you withdrew?
Yes. That is because youare converting to USD already.
Stay with the satoshis. You are at profit when it hits 11 or 12 sats.
Somehow bitcoin will still gain its price no matter what.

ipbitrung01

member

Activity: 238

Merit: 10

Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

I believe this is a great time for you to buy and start trading altcoin, the market in recent days is constantly fluctuating and difficult to kick, so to be able to trade success is very hard . The recovery of bitcoin today has caused altcoin prices to rise simultaneously, according to my analysis, bitcoin prices will continue to rise and may reach the $ 8100 mark so you can trade up to that time.

mybtcasset

newbie

Activity: 238

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when the market is at lowest dip it is advisable to buy the coins at the lowest dip and hodl for long-term then we can expect immediate profit thereafter

gudrun

member

Activity: 252

Merit: 10

Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

Yes, I believe this is a great time for you to trade altcoin, you can see that bitcoin prices are very strong and this has made the price of altcoin recover, there are so many altcoin is increasing, so to be able to trade successfully I think that right now you should make specific plans to trade and to be able to reduce the risk.

Moiyah

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Activity: 630

Merit: 20

Quote from: target on June 04, 2018, 10:14:48 AM

There are indicators in the platform that will tell you when to. so learn more about the platform where you trade. Exchanges are becoming very clever, you might want to learn when a token is over bought already and when that happens, its about to be dumped. Or an indicator that will tell you most of the bidders are getting lesser.

Of course, if you are just familiar with the indicators he is referring to then it maybe easy to just exit the market right after your indicators told you so. Gaining 10-20% is enough with less greed so that it doesn't pull out all your funds. It is fine to wait if you are sure it will hit the price you want. But it'ss nonsense to patiently wait if it's pretty obvious it's the other way around.

okorocrypto

newbie

Activity: 140

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Trading is a very technical venture that require a lot of smartness. To me, the best approach is to set targets and when met, one should exit to avoid regrets.

anisoptera

member

Activity: 308

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i use to sell my coins when i have already achieved a good profit from my bought, that is the only way to make a succesfull trade while you really want to make a good scalping (but you need to be fast to be able to catch the profits)

Sanu Simon

member

Activity: 215

Merit: 11

With cryptocurrency trading each and every minute is a good time to make a profit. Because, each and every asset fluctuates without staying on a particular price. What needs to be considered is the asset, because one who predicts and choose the right one he'll earn big on the same day.

Getcoinsite

sr. member

Activity: 714

Merit: 260

Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

You have mentioned that its fun trading in crypto,and its very few to find both of that at the same time so i guess better to continue what you're doing just what i am too,i love trading specially now when price are pumping and dumping it brings more excitement and profit,thought heres some losses

hahahafr

hero member

Activity: 938

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There are a lot of scenarios about in where you can take the profit after all, but you need to understand that is never so EASY to take the profit, specially when there are a lot of downsides on the market.

atrocityx

member

Activity: 336

Merit: 71

My strategy lately is just to ride these waves with bitcoin.. just go long and short until we prove to break out of this symmetrical pattern shape that has us permanently in bear mode. Alts the same.. buy alts as we creep toward the bottom of symmetrical triangle and sell as we approach the top. I usually play the trend until the trend tells me otherwise.. if I get stopped out of my positions falling out of this pattern then fine.. but until then I'm just gonna keep following it.

Supercrypt

legendary

Activity: 1554

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Quote from: syahril husen on June 07, 2018, 12:45:24 AM

I am absolutely sure and I assert that investing is much better than trading. I may prove it easily. Look around there are much successful investors but less traders why so?! It is just because trading is incredible difficult activity with huge risks like a casino. Investing is a business so it is more clear. I consider that trading is an occupation just for professionals so when you trade you compete with professionals.

Trading is a difficult activity but that does not mean investing is better than trading. There are more successful investors than traders and that is because the only thing you need as an investor is to understand the area of your investment which in this case is the project you are investing into and hold on to it.

With trading, it is a profession and it requires a lot of discipline, a lot of concentration and a huge knowledge to pull any trade through which we all know that is some attribute most wannabe traders have and which makes it so that there are very less successful traders but as long as you are a successful trader, you are sure better off than someone who is just holding all through.

entrepmind23

sr. member

Activity: 644

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Quote from: r32godzilla on June 07, 2018, 05:51:31 PM

I would say that we should set a target of profit percentage like 5 or 10 percent and once the target reached,we should sell our coins and take profits instead of continuously following the price thinking sky as the limit for profit.

I agree with your suggestion especially if you are trading for the short term or trading those sh*tcoins because we don't know if they will be able to recover when bitcoin makes rapid movement again. However, if you are trading or investing for the long term then you should take profit when at least you have 50% profit or double your investment and withdraw your original investment so that you can find again another investment opportunity. The amount left is pure profit so wherever it may go whether it will continue to go up or down, it is still profit but you have to monitor it so that when the buyers are exchausted, you should just sell it all and wait for the next cycle.

Quote from: Victorycoin on June 07, 2018, 04:52:44 PM

That's right but problem is there seem to be a number of crypto traders, especially those without a root in forex trade that think these indicators don't work with cryptocurrencies. No doubt that's blind argument as good knowledge and application of these tools can always aid a trader in reaching well informed trading decisions. I have this preference of using Bollinger Bands in combination with RSI to spot overbought or oversold conditions and then start preparation for possible market reversal.

Some would say that TA doesn't work with crypto because they are used to the movement of the prices in traditional markets but for crypto, its movement is fast so you should adjust your indicators accordingly. Some would say that the movements in crypto in just weeks or months is equivalent to years in traditional market so if you are already familiar with this market then you will know what indicators and strategy can aid you to be a profitable trader.

alfs75

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Activity: 392

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platform for everyday business

Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

Its true that trading an investment is fun,because full of suspense and intense especially you are a first timer of this kind of bussiness,otherwise you must always aware of what the result of your trade either your successful or not,and the one things we must always aware of this trading investment is to become resourcefull and have full of ideas in making a trading,so that we can have another option in terms of our investment could not successfull.

Blue Bell

member

Activity: 280

Merit: 10

Quote from: yanto@1977 on June 06, 2018, 10:40:45 PM

Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

Before enter market you should set your stop loss and take profit area and do that if the price touch one of them. No doubt to not obey this rules, specially when you heard people opinion. Take focus to the chart, follow your rules and accept the result. Do that and profit will be yours.

Listening to everyone idea and everyone way of thinking will give you no profit, I am good to hold so I never lose, keep on checking the price of bitcoin market when you see price is getting low so time to buy and when it will be green so time to sell. Don’t panic those who panics always manipulates the market instead of rising it, so hold it and trade it for long term you are going to earn high profit.

r32godzilla

hero member

Activity: 1361

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I would say that we should set a target of profit percentage like 5 or 10 percent and once the target reached,we should sell our coins and take profits instead of continuously following the price thinking sky as the limit for profit.

Casmania

full member

Activity: 390

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Quote from: wayaneka on June 07, 2018, 12:38:22 AM

Its hard to catch the best price when taking profit, so my opinion when we are in profit for the better sell the open potition by split that coin, first sell by profit 25% for example and other remaining sell by different profit. Even expert trader also can not predict well how highest the price will to go and in which price level will be turn in to reversal and bearish.

If you seem to see your coins has not pumped yet for good price, the options for now if you have bad needs for money is to sell your entire asset. But not to the point you sell your other coins, because every coins has the potential to gain bigger value in the exchanges sites. No expertise could help us design the right think, and we by ourselves really can do great outcomes towards our goals in bitcoin trading profits along with other alts.

Victorycoin

hero member

Activity: 1134

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Quote from: target on June 04, 2018, 10:14:48 AM

There are indicators in the platform that will tell you when to. so learn more about the platform where you trade. Exchanges are becoming very clever, you might want to learn when a token is over bought already and when that happens, its about to be dumped. Or an indicator that will tell you most of the bidders are getting lesser.

That's right but problem is there seem to be a number of crypto traders, especially those without a root in forex trade that think these indicators don't work with cryptocurrencies. No doubt that's blind argument as good knowledge and application of these tools can always aid a trader in reaching well informed trading decisions. I have this preference of using Bollinger Bands in combination with RSI to spot overbought or oversold conditions and then start preparation for possible market reversal.

mobilestrike

hero member

Activity: 907

Merit: 500

Quote from: yanto@1977 on June 06, 2018, 10:40:45 PM

Quote from: deonyx on June 04, 2018, 10:04:47 AM

Cryptocurrency Trading is fun and captivating especially when you are always up with profit no matter the situation of the market, of course who wouldn't be happy when you are successful in what you do?
In many situations we are confronted with the choices of should I exit the market now or should I stay, and swiftly as this may be decision need to be made fast to be able to keep up with a moving trade. For day traders avoid exiting the market when the chart is already down especially if you are not at profit, it is better to take profit when you are comfortably at profit even though the market is still green and wait for a next dip than waiting till market has gone against you and you are struggling with cutting off more loss.

Before enter market you should set your stop loss and take profit area and do that if the price touch one of them. No doubt to not obey this rules, specially when you heard people opinion. Take focus to the chart, follow your rules and accept the result. Do that and profit will be yours.

But we have to keep in mind that if the market is going good and the coin in which we have invested is going bad then there is something bad in the coin in which we have invested then we have to stop trading in that while if the market is bad then we have not to fear as the drop is because of the market and we have to keep in mind that the market will be better one day and these coins will recover sooner when the market will be okay.

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