Weak or wise? - page 4. | Bitcointalksearch.org

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

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Quote from: libert19 on November 29, 2023, 08:24:57 PM

Quote from: Wind_FURY on November 29, 2023, 09:48:15 AM

Quote from: libert19 on November 25, 2023, 12:24:45 PM

I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

Although that's true, I believe it would also depend on what kind of asset you're holding as an investment. Because with Bitcoin, if I HODL since 2019, would the gains accumulated since that time be truly considered mere "paper-profit"? If you ask me, it's already realized profit because I could always use my Bitcoin to pay someone else who accepts it.

Plus I'm very confident a "participant" in the dark market would be very happy to buy it from me. A victim of ransomware would probably buy it from me for more than the fair market value.

Such an asset shouldn't be sold early just to turn paper-profit into real profit in my opinion.

If I were to elaborate further to my previous comment it would be; ..I should have converted those paper profits to Bitcoin.

So there is your answer.

Very good ser! Cool

Quote

Plus, unless you are 'HODL' kinda guy, you could also convert your BTC to stables when you sense market top incoming, and repurchase later in dip, and increase your BTC holding.

That probably a good strategy for those people who can have a god sense of timing the market. But personally, I value my mental sanity and almost stress free life than trying to trade and time the market. If the market top is incoming, I'll probably start saving then I'll wait for the incoming market bottom that will definitely be there after one or two years to buy the DIP.

Bitcoin will be one of three to five blockchains/networks left running after ten years. I believe the rest will die with the death of the "Blockchain Mania".

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Quote from: libert19 on November 29, 2023, 08:24:57 PM

Quote from: Wind_FURY on November 29, 2023, 09:48:15 AM

Quote from: libert19 on November 25, 2023, 12:24:45 PM

I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

Although that's true, I believe it would also depend on what kind of asset you're holding as an investment. Because with Bitcoin, if I HODL since 2019, would the gains accumulated since that time be truly considered mere "paper-profit"? If you ask me, it's already realized profit because I could always use my Bitcoin to pay someone else who accepts it.

Plus I'm very confident a "participant" in the dark market would be very happy to buy it from me. A victim of ransomware would probably buy it from me for more than the fair market value.

Such an asset shouldn't be sold early just to turn paper-profit into real profit in my opinion.

If I were to elaborate further to my previous comment it would be; ..I should have converted those paper profits to Bitcoin.

So there is your answer.

Plus, unless you are 'HODL' kinda guy, you could also convert your BTC to stables when you sense market top incoming, and repurchase later in dip, and increase your BTC holding.

The main question is, on how you would really be considering that the market is on top or already into its peak? Just like for example when Bitcoins price did break that 19k ATH before, then whats next?
The price had go beyond 20k and goes 30k. So to those people who had thought that it was the peak then sold out, but they get left behind as the price had gone to peak of 69k.
This is why its never been that simple on trying to search for the peak, but what most important thing is that you do able to make profits. Just like on what others been saying that profits is profits
which it doesnt matter if its small or not. Its true that there are holder type of people that they would be holding their position no matter what but actually they could make
even more profits if they do really just know on how to hedge but we know that this is something that not everyone can do, this is why it would be that wise that they would really be that just simply hold
but just like been said that its never been simple.

libert19

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Quote from: Wind_FURY on November 29, 2023, 09:48:15 AM

Quote from: libert19 on November 25, 2023, 12:24:45 PM

I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

Although that's true, I believe it would also depend on what kind of asset you're holding as an investment. Because with Bitcoin, if I HODL since 2019, would the gains accumulated since that time be truly considered mere "paper-profit"? If you ask me, it's already realized profit because I could always use my Bitcoin to pay someone else who accepts it.

Plus I'm very confident a "participant" in the dark market would be very happy to buy it from me. A victim of ransomware would probably buy it from me for more than the fair market value.

Such an asset shouldn't be sold early just to turn paper-profit into real profit in my opinion.

If I were to elaborate further to my previous comment it would be; ..I should have converted those paper profits to Bitcoin.

So there is your answer.

Plus, unless you are 'HODL' kinda guy, you could also convert your BTC to stables when you sense market top incoming, and repurchase later in dip, and increase your BTC holding.

boyptc

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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?

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.

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Quote from: Distinctin on November 24, 2023, 05:39:12 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?

Trading itself will never encourage weak traders to keep their trades, but will always chose to encourage wise traders to perform better and wiser, that is the only way so that they will overcome the high risks in trading. However, when you decide to exit a trading even if the desired profits is not yet achieved, that makes you still profitable so you were never a weak trader but a wise one.

But I encourage everyone to never start a trade unless if you are ready. That way, you will never decide to perform sudden exit trading when its not the best time yet, but must be strong and skillful enough to trade until the end of a trade.

I agreed that it's hard to enter a battle unprepared because the others who enter the crypt space are the ones who enter the crypt space without thinking first, just because they were carried away by the hype of others, so they are the ones who are often deceived by their greed of money,
Others want a quick way to get money, so that's what others think about cryptocurrency, which is actually not how it is designed.

So it's better to learn first if you don't know anything yet. Now, if you have an idea or a little knowledge, just start with a small amount first; don't immediately invest in large capital so you don't regret it later.

Wind_FURY

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Quote from: libert19 on November 25, 2023, 12:24:45 PM

I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

Although that's true, I believe it would also depend on what kind of asset you're holding as an investment. Because with Bitcoin, if I HODL since 2019, would the gains accumulated since that time be truly considered mere "paper-profit"? If you ask me, it's already realized profit because I could always use my Bitcoin to pay someone else who accepts it.

Plus I'm very confident a "participant" in the dark market would be very happy to buy it from me. A victim of ransomware would probably buy it from me for more than the fair market value.

Such an asset shouldn't be sold early just to turn paper-profit into real profit in my opinion.

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Quote from: Kelvinid on November 27, 2023, 05:38:08 PM

Quote from: Jegileman on November 25, 2023, 06:55:36 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?

I will rather call it contentment and been wise about leaving the investment at an early making profit stage. When you’re not contented, you become greedy and when that comes into play, you’ll be at a bigger risk to lose your profit including the initial capital that was put into trading in the first place. Take profit should be something you’re willing to adjust to when it doesn’t work for you or take advantage of it early when it begins to work for you.

Perhaps, it was not a wrong decision but instead, wise thinking knowing that we never know if the price keep rallying or it drop at least we already earn some. Besides, we can't make 100% perfect trade which means that some of our speculations are wrong and sometimes are right but the most important is that we never lose any amount. Greediness is the cause of why many traders miss the chance of selling at a good/high price as they think that there is more. That is why we should also have to know how to analyze the market, not just by wild guesses.

Trading is not guesswork, so we have to review it from time to time to see the development of our trading system. so that it has a higher probability of winning, considering that no trader is completely correct in analyzing, therefore trading requires mature strategy and psychology, so happy are those who want to learn to trade manually and patiently go through the process

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Quote from: TakeItEasy on November 27, 2023, 05:22:27 PM

Quote from: libert19 on November 25, 2023, 12:24:45 PM

I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

Mostly I sell those coins which can gain more potential but the time had over for me many times. But when I buy these coins, I didn't see a single coins in my life which have been pumped then when I buy it, it suddenly or after sometimes lose it price and got decrease.

You can buy btc, ethereum, atom, solana in current market, and I pretty much can say with certainity that you will have guaranteed profit in about 1 and half year. Buy in spot market and do not sell if there is dump, or just buy, keep in HW and just forget about them.

If you check your coins frequently, you may get overwhelmed by emotions and may do what you should not have done.

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Quote from: Jegileman on November 25, 2023, 06:55:36 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?

I will rather call it contentment and been wise about leaving the investment at an early making profit stage. When you’re not contented, you become greedy and when that comes into play, you’ll be at a bigger risk to lose your profit including the initial capital that was put into trading in the first place. Take profit should be something you’re willing to adjust to when it doesn’t work for you or take advantage of it early when it begins to work for you.

Perhaps, it was not a wrong decision but instead, wise thinking knowing that we never know if the price keep rallying or it drop at least we already earn some. Besides, we can't make 100% perfect trade which means that some of our speculations are wrong and sometimes are right but the most important is that we never lose any amount. Greediness is the cause of why many traders miss the chance of selling at a good/high price as they think that there is more. That is why we should also have to know how to analyze the market, not just by wild guesses.

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Quote from: libert19 on November 25, 2023, 12:24:45 PM

I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

Often happens to me, but the things is, it is too difficult to realize a real project and to realize a project which can give a person good profit. We don't even know which project is of better health and which project is of bad health. I'm talking project in the mean of these Tokens etc. Mostly I sell those coins which can gain more potential but the time had over for me many times. But when I buy these coins, I didn't see a single coins in my life which have been pumped then when I buy it, it suddenly or after sometimes lose it price and got decrease.

That is the problem sometimes I sell them instantly and I got panic too early which may be the cause of my loss mostly. But it should be avoid only when I got the realization of the good and bad coins.

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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 this aspect we tend not to call it weak or wise, me i take profit when i see the trade is doing something else rather than what i preddicted the trade to do so is better to HAVE THE BAG SECURED than let the market have it back again.

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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?

Not sure if I fully understand your question, do you mean that a trader that exits his position too early is a weak trader and that they are leaving potential higher profits on the table? I don’t think this is fair to say, because markets are always changing. Even the best possible strategy that has planned for all eventualities needs to be adapted if there are unforeseen events. Taking profits is part of the trading game and we shouldn’t be feeling bad about. Who really cares if we are a strong or weak trader, as long as we make decent returns there is no need to change. Selling a position early to take a profit can even be a good thing, if we reinvest that money in a better trading opportunity. The worst thing would be to take an early exist only to leave our money in cash and not earning any returns. That is why I always try to think ahead and where my money will be invested in once I sell a position. Another approach is to only sell a part of the position and keep some coins until prices rise even further. Markets are so dynamic that we constantly need o adapt and reevaluate our positions, but we should never feel bad about making a profit.

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Cashing out "early" on a crypto you traded for doesn't equate to you being a weak trader, there's no parameters nor standard to set or beat that would determine whether you're a weak trader or a strong one. The only thing that you should be worried about is your trading capacity, meaning the amount of money you're confident about losing and not stressing your whole life over. Most of us here who have been in this industry for a good amount of time would have fairly high trading capacities, with some of the newbies being more on the lower side of things not because of lack of capital, but because of their inherent fear of the unknown, and personally, that's okay. In the end, it's much better to be scared and alive than be brave and dead. When you're scared and alive you get a chance to be brave and have courage tomorrow, the dead don't have that much liberty. This applies in trading crypto too. So by all means, don't feel bad about cashing out early just cause you're afraid. It's your money, you're its boss and people don't have any right to tell you what to do with it.

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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?

I will rather call it contentment and been wise about leaving the investment at an early making profit stage. When you’re not contented, you become greedy and when that comes into play, you’ll be at a bigger risk to lose your profit including the initial capital that was put into trading in the first place. Take profit should be something you’re willing to adjust to when it doesn’t work for you or take advantage of it early when it begins to work for you.

libert19

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I'm of the opinion that taking profit is always the wise decision. Paper profits are not real, it took me years to realize until my huge gains went down the drain for not taking profit.

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I think those who are used to trading or higher traders are never averse to taking risks. They always trade or do business, surely they have good knowledge about trade. If a man does not have good knowledge about trade he can never succeed. In case of weak trades they can't hold on to any trades and are easily disappointed. If the market goes down a bit they get restless and sell it at a loss. So weak traders should be patient and trade well otherwise chances of loss are high.

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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?

No, I don't accept it was a wrong decision nor I call myself weak if that is the best option to do. And besides, we don't have to call ourselves weak because this will be a manipulating factor to think negatively and have no courage to take risks. Instead, make this a wise choice for a trader who wants to save their profit.

One reason why a trader succeeds is because of making decisions. We have to decide what is best for us not because we think that somebody will say we are weak at least we do the thing that favors us.

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Quote from: EluguHcman on November 24, 2023, 11:05:00 PM

It depends the nature of the trades. I know about Forex trading that has some period of programs where the market goes biased that is why you need to lively be active to watch how the market goes so you can eject you funds at an depreciating (looses) signal and stays while there is an appreciation (profits).
Besides there are said to be other trades such as conventional trade's are only profitable by its seasons demanding.

No one sees the last ends of investment unless it is a short-term investment else the resultants of one seeing its end results is a caused of business crashed.
So even in Bitcoin of both short and long terms investment, investors doesn't keep trading for ever but get to sell out somedays especially at a high rate of making satisfactory profits.

That's because the plans made by each investor are definitely different. as well as the level of satisfaction from the benefits obtained.
especially for those who invest long term. they don't like looking at prices enough to pay constant attention to the value of their investments.
There are indeed those who panic enough when they see a drop in prices and decide to immediately release assets for the small profits they may get.
every investor does what they want or what they plan to do. it might be a little different for day traders, of course, they insist on paying attention to trading conditions to make a profit and try not to lose. If you can't get the best target, then the decision to leave must be made with a slight advantage.

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It depends the nature of the trades. I know about Forex trading that has some period of programs where the market goes biased that is why you need to lively be active to watch how the market goes so you can eject you funds at an depreciating (looses) signal and stays while there is an appreciation (profits).
Besides there are said to be other trades such as conventional trade's are only profitable by its seasons demanding.

No one sees the last ends of investment unless it is a short-term investment else the resultants of one seeing its end results is a caused of business crashed.
So even in Bitcoin of both short and long terms investment, investors doesn't keep trading for ever but get to sell out somedays especially at a high rate of making satisfactory profits.

Topic: Weak or wise? - page 4. (Read 984 times)