Weak or wise? - page 3. | Bitcointalksearch.org

macson

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

In fact, i also quite often withdraw my profits when i get a few percent profit from my capital, however, this is very natural in my opinion, not a weakness, because if you don't withdraw the profits you have made then you can be categorized as someone who is greedy, and usually greedy people will only lose money in time. If you have ever read about risk management, taking profits, stopping for a moment when you are profitable and exiting when the market is busy is one form of risk management, when you become greedy in trading then you will definitely forget all kinds of strategies or rules that can make you get some profit.

Ojima-ojo

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

Wait to what end is my questions?
As far as I know, there is no end to an open trade, except what you are talking about is one's set take profit price or so.

It is actually good for a trader to always have a sell target when trading, most especially in the spot market, but then, it's not out place or necessarily a sign of weakness of the trader will continue to monitor his or her open trades and try closing a trade and taking already achieved profit on trades that seem not to be performing really as expected, it's better to close such a trade and take an already achieved profit than leaving it there and at the end of the day, the trade will end in a loss.

This is just my thought though.

Mr.right85

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

In my opinion, a trader that has mastered his emotions to not stir him or her into being too greedy in search for all the profits in the market, works by his or her analysis and is satisfied with a given number on the chats to find an exit, that trader is a wise trader. Have that about you and all you need is a little consistency in your profit making and you would do well as a trader.
You don’t need or have to get a whole lot from a particular trade, not all the profits in the market are worth risking. You could easily run into lose and in most cases, it becomes more difficult to get out when a previously established profit margin starts diminishing. It tolls with your emotions.

borovichok

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Quote from: Heulahee on December 02, 2023, 04:59:27 PM

I think that would be a decision by a wise trader because sometimes the trader doesn't want to be engaged in a situation where he has to suffer from the loss after that. As I have seen many of the traders who have more knowledge of the trade and they mostly do the trade and get their profit and take exit. Which is in my opinion a good thing and I also appreciate those traders on my hand to be ready for another fruitful trade. Better to take an exit before getting into a loss.

Gaining boosts our confidence in the market by implementing solid strategies, we just have to do whatever it takes to ensure we're able to milk the market from our end. Trading is consider difficult and challenging, it's mainly for those that understands and knows how to trade without having any basic issues, they make every activities carried out in the system easy and forward. We're traders and we milk from the market and we also make losses in the market. There's always something to hold us back from achieving our main target.

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Quote from: Heulahee on December 02, 2023, 04:59:27 PM

I think that would be a decision by a wise trader because sometimes the trader doesn't want to be engaged in a situation where he has to suffer from the loss after that. As I have seen many of the traders who have more knowledge of the trade and they mostly do the trade and get their profit and take exit. Which is in my opinion a good thing and I also appreciate those traders on my hand to be ready for another fruitful trade. Better to take an exit before getting into a loss.

Yes this is a good strategy because if someone continue trading after getting a big reward enters into the market with great percentage of money but then they loss all their money because market is not always same as expert predict. There are also some people who don't take their profit when the market is under favorable condition because they are waiting for more pump therefore they loss huge amount by doing such mistakes.

Exit trade for sometime during some unfavourable condition is necessary because continously trading can proves to be risky and also remember that don't use your profit in trading but continue your trading with the same amount always and if you loss all the limited sum in trading then exit trade for some months.

Heulahee

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

I think that would be a decision by a wise trader because sometimes the trader doesn't want to be engaged in a situation where he has to suffer from the loss after that. As I have seen many of the traders who have more knowledge of the trade and they mostly do the trade and get their profit and take exit. Which is in my opinion a good thing and I also appreciate those traders on my hand to be ready for another fruitful trade. Better to take an exit before getting into a loss.

Huppercase

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

You analysed the market and see a potential and then you started having doubts about the continuity, there is something that you might have seen that is giving you that doubts and a second thought, and there is nothing wrong is having doubt because you are really trying to protect your stop loss even before any circumstance happen. Let's say fit instance, SEC met with Grayscale and Blackrock in anticipation of Bitcoin ETF and because of the news, you open a margin position of bitcoin with the intention to get something before the approval day and all of a sudden you started seeing some red flags for reject, closing the trade with your current position and profits means you are smart because you didn't lose anything from your trade.

There is nothing bad when you are proactive in trading and taking profit, there are something you might even see before they happen or even read in the news before it becomes so fast and spread to the rest. The reason why some people does have minimal losses in trading sometimes is because they do have genuine and reliable source of information before the public and they are quick to leave the market before others and that's how they mitigate losses in trading, so nothing wrong in such situations.

Johnyz

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Quote from: goaldigger on December 02, 2023, 04:18:07 PM

Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

This is why I always remind myself to set up a target price that is more realistic and commit on that once you are happy with the profit and of course it should be flexible especially if you already saw a sign that the price will not pump anymore and will enter in a small corrections so securing the profit is already advisable. Profit is still a profit, this is our best line in trading since we cannot always reach our target price not unless you set it realistically.

Always choose to be more wise, and waiting for your high TP might not come into reality and you might wait longer which can make you lose the money and lose the chance of taking profit since you become more greedy.

I agree that we should make our TP more realistic and it should be based on the current price trend. Though long term holder is a different story but if its in trading, you should set your TP that is not that far on your price entry, usually I do set up a 3-5% profit before taking profit and that is already fine for me.

goaldigger

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

This is why I always remind myself to set up a target price that is more realistic and commit on that once you are happy with the profit and of course it should be flexible especially if you already saw a sign that the price will not pump anymore and will enter in a small corrections so securing the profit is already advisable. Profit is still a profit, this is our best line in trading since we cannot always reach our target price not unless you set it realistically.

Davidvictorson

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

First of all, this kind of trader don't have proper Mentorship, he went through an easy cheap route (YouTube). Secondly,he isn't ready to accept his trades.this kind of trader can leave losses for a long time and cut their profit short. Thirdly, in trading there is no wise or weak. It is all about emotions and you can't deal with your emotions if you don't know how trading works. Trading isn't all about online stuff you see everyday.

irhact

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Quote from: meser# on December 01, 2023, 08:07:00 PM

In this matter, our comments will be superficial, But if we want to make more precise comments we need on which coin or token one is trading. First of all, a trader should have enough knowledge to estimate the depth of rise/fall movements a coin might make. For instance, the sudden rise of a "shitcoin" could be from whales activity; alternatively, not being aware of a crucial development news might lead to selling early and earning less profit. If a trader finds him/her-self in this dilemma, I believe he/she must sell while making a profit because they might not have a full understanding of their investment.

You're correct, selling a coin early doesn't make you weak. There are many reasons why an individual trading will decide to sell his coin early and even when the coin continues pumping, it doesn't make him a loser. He didn't lose in the trade and that's a victory as many individuals investing or trading don't make profits but on social media it look like all traders are winning. I have sold some coins earlier than I wanted to sell and some times it was the right decision while others it wasn't.

But I didn't regret taking the decision as I decided to learn from them and it had contributed to my experiment in trading. There are many reasons why a coin will dump therefore if you confirm anyone, you can protect yourself by selling and if things were to turn out different, then you can buy the coin again if you believe the coin has good potential to pump further but be sure it isn't just a pump and dump activities by whales or a false pump for the whales to dump their tokens.

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Quote from: boyptc on November 29, 2023, 07:47:19 PM

Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

That's not being weak.

You are taking profit which was the reason why you trade. Don't ask yourself validation from anybody if you did it. Because if you did took profit and got out, it's a good move rather than losing right?

So what if you didn't take the TP you want, you're still in profit and you might even get the profit you'll get so it's better to get out early.

I'm old and experienced enough in trading to say that "there is no perfect decision in it," just devise your good trading system and use your regular analyses and instincts for the rest.

There are times you close the trades in profits/losses and regret it, and there are times you would close them and shout for joy as they might have saved you from trouble. This is applicable to any guy who uses a very brilliant trading system and even avoids emotion, meaning that it's the same person with the same personality. But the difference is the market itself, you can't predict the market perfectly at all times, not the fundamental analysis or technical one, it's all about how you can be contented with what your trading system and instincts are giving you, and shun greed, hate and regrets which puts traders in further trouble.

The market is ever-dynamic and is mostly responsible for this. Again, the market will continue to play on the intelligence of every trader no matter how good they are. However, they can be consistent in their earning if their account management is good.

pusaka

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Quote from: meser# on December 01, 2023, 08:07:00 PM

In this matter, our comments will be superficial, But if we want to make more precise comments we need on which coin or token one is trading. First of all, a trader should have enough knowledge to estimate the depth of rise/fall movements a coin might make. For instance, the sudden rise of a "shitcoin" could be from whales activity; alternatively, not being aware of a crucial development news might lead to selling early and earning less profit. If a trader finds him/her-self in this dilemma, I believe he/she must sell while making a profit because they might not have a full understanding of their investment.

It can be said that it will depend on what coin we are trading and it will follow the development or movement when we make a trade.
Because learning from my experience that trading does require action at the time we do it, or we do something instantly based on market movements at that time, of course with our experience and knowledge while we are in this space. That real time movement will greatly inflluence us in making decisions. Supporting indicators will also be very useful in making that decision.

meser#

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In this matter, our comments will be superficial, But if we want to make more precise comments we need on which coin or token one is trading. First of all, a trader should have enough knowledge to estimate the depth of rise/fall movements a coin might make. For instance, the sudden rise of a "shitcoin" could be from whales activity; alternatively, not being aware of a crucial development news might lead to selling early and earning less profit. If a trader finds him/her-self in this dilemma, I believe he/she must sell while making a profit because they might not have a full understanding of their investment.

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Quote from: Wind_FURY on December 01, 2023, 09:58:49 AM

Quote from: tvplus006 on November 30, 2023, 09:12:32 PM

The cryptocurrency market provides a huge number of opportunities to make a profit every day, so you should not get hung up on unsuccessful deals, especially since you have made a small profit, which in any case is better than a loss.

That's not true for 90% of the participants in the market, because if that was actually true, then everyone would be making money easily through "trading". BUT trading is Zero Sum, those who profit take the profit from those who lose.

I can't agree with you. Doesn't the cryptocurrency market give you a chance to make a profit? Well, the fact that you couldn't take advantage of this opportunity is only your fault and another 90% of market participants. After all, the remaining 10% were able to realize their knowledge and experience in the resulting profit.

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Quote from: alastantiger on December 01, 2023, 02:13:48 PM

Quote from: Wind_FURY on November 23, 2023, 07:23:22 AM

A weak trader trades based on his emotions. Because he doesn't want the "profit" - on paper become a "loss", the trader closes the trade for an insubstantial profit and his emotions will make him FOMO back in the same asset if he/she sees it's surging again.

We are our emotions and our emotions is us. We can't detach from our emotions while trading until you accept that losing is normal. It is only an AI that has no emotional attachment to trading. Instead of detachment, we must master our emotions. The most important things are managing your lot size right and closing your trades timely. Like any normal business deal, sometimes you gain, other times you lose.

It is because of this I have always thought that it is for the best for traders to develop a strategy that tells them exactly what to do under every circumstance, as if they are facing a fast drop on the price of the coin in which they invested, it is to be expected that any person may get emotional while this is happening, but this could lead them to make a mistake and lose way more money than what they anticipated, but if their strategy tells them exactly what to do then they can bypass those emotions and do the right thing, regardless of how they may be feeling at the time.

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

In trading, the question of exiting a trade is an important point that depends on the strategy and goals of the trader. Some traders prefer to take partial profits to protect their funds and avoid potential reverse movements in the market. This may be considered a wise decision as it reduces the risk of loss.
On the other hand, there are traders who prefer to wait until their take profit target is fully met, believing that the market can give them more profit. This is a strategy focused on maximizing potential profits.

alastantiger

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Quote from: Wind_FURY on November 23, 2023, 07:23:22 AM

A weak trader trades based on his emotions. Because he doesn't want the "profit" - on paper become a "loss", the trader closes the trade for an insubstantial profit and his emotions will make him FOMO back in the same asset if he/she sees it's surging again.

We are our emotions and our emotions is us. We can't detach from our emotions while trading until you accept that losing is normal. It is only an AI that has no emotional attachment to trading. Instead of detachment, we must master our emotions. The most important things are managing your lot size right and closing your trades timely. Like any normal business deal, sometimes you gain, other times you lose.

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Quote from: tvplus006 on November 30, 2023, 09:12:32 PM

Quote from: Wind_FURY on November 23, 2023, 07:23:22 AM

...the trader closes the trade for an insubstantial profit and his emotions will make him FOMO back in the same asset if he/she sees it's surging again. ..

The cryptocurrency market provides a huge number of opportunities to make a profit every day, so you should not get hung up on unsuccessful deals, especially since you have made a small profit, which in any case is better than a loss.

That's not true for 90% of the participants in the market, because if that was actually true, then everyone would be making money easily through "trading". BUT trading is Zero Sum, those who profit take the profit from those who lose.

Quote

Better remember those moments when, after closing an order, the price decreases and you realize that you did everything in a timely manner.

It's actually not that simple, ask any trader. Although, it's expected that people in the forum could make their own claims.

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Quote from: Stepstowealth on November 23, 2023, 07:03:22 AM

In trading sometimes, there are situations and several times where traders while observing a trade placed and the profit they have made already from it begin to think and consider to exit from the trade and take the profit that they have made instead of waiting to the end.

Do you accept to be a weak trader or a wise trader when you exit a trade taking some profit, but not the entirety of what you want on your TP?

In my opinion, it's not about being a weak or wise trader but how to see opportunities to make a profit and of course the decisions taken after analyzing that the market will not move according to the first analysis so that securing profits is the best choice because the market can move in the opposite direction quickly and when traders have read that the market will move in the opposite direction but continue to maintain that the first analysis certainly shows that he is a weak trader because his emotions control him.

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