Weak or wise? - page 7. | Bitcointalksearch.org

jaberwock

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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.

Does anyone want to be a weak trader? I believe not, BUT we plebs are all probably the same. That's why I stopped "trading" and started HODLing Bitcoin. All weak plebs should HODL too.

It is like they are creating their own rules. Trading based on emotions? What the heck is that, lol. Trading is supposed to be based on the market only, or to the movement of the coins. If they don't want the profit, then what is the purpose on why they are still trading? Only to have fun? Cheesy

. This is not like a gambling where we can enjoy even if we are on the losing side, although they can get an experience here and they can use it to improve their selves, if they decide to be a profitable trader next time.

No one wants to be a weak trader for sure. It's just that it can come naturally for the most of us. It's not a reason though to stop trading. Even in hodling or investing, we can also experience to be weak. It was only easier though to bounce back in it.

Nrcewker

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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?

At what time you exit from the trade, doesn’t decide whether you are wise or not. A wise trader always go for trades with capabilities and always set a target. Once the target is achieved he just exits the trade. A wise trader is the one, who understands the risk and don’t go for long in greed. If you can master these things, then definitely you can make good profits or atleast less losses. These types of wise decisions help to trade and make good profits.

target

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Securing the profit is wise. But he should also look into the next day where his entry point will be. The market doesn't stop when he takes the profit. The term weak was used for those who are dumping, or selling out because of the fud that's what I know, and still used today in stocks for weak and diamond hands.

There is never really a way to maximize TP but you can at least take profit as soon as you see the price is almost the ATH.

Sim_card

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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?

It is better that I take little profit and close the trade than I allow greed lead me to loss. You might think that the profit is small but the important thing is that you made profit. The little profit that you have seen is far better than the big profit that you have seen but expecting to see it. This is why I wouldn't say that it is due to weakness but because you are after not securing loss. The painful thing is when to think to the south and the market turns north, this is why trading secure more of loss than profit because it is difficult to know where the direction of the market in the next minutes.

Hamza2424

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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?

Hmm, whether it is taking profit or fear of losing in the trade all this is based on emotions, if a trade is emotionally strong he'll definitely be a wise and successful trader.

A friend of mine used to say most of the time we do hurry in booking profit and this is because of our negative attitude towards the trade and in the losing trade we wait till the dead end. To be a smart trader better fully depend on your analysis and have some confidence if you lose it will directly increase your analysis efficiency and in the future, you'll be a good analyst and trader.

More on this market sentiments also trigger emotions and as a noob trader, I would like to add whatever we recommend how strongly we try to pretend to be like an emotionless trader, the market somehow always manipulates you.

TheUltraElite

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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.

What do you mean by "waiting for the end" - if a order is placed and that order gets filled the trade is over and the person can open another one. If they have a target and that target is fulfilled/crossed they should exit to profit unless they change their target again. You dont watch the market cycle and recycle - there is no end to a movement unless you define one.

A diligent trader is one who books profits, buys back at low and carefully choose the target buy/sell. If they change decisions in the middle, it does not mean they are weak or wise - that only time will tell and they will judge this on their own and not the bystanders.

Lanatsa

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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?

When it comes on having that own personal trading targets or goals then its a must thing to have and doesnt matter whether you are really that continuing or would really be calling it a day. Securing profits is ideal
but there are really times on which us traders does really go further more. Why? because we do feel out that we can really still make more.Getting further doesnt mean that you are greedy but rather a sort of but
once you are really that confident with your trading skills then it would really be that something that could really be the reason on why you would really be proceeding into.

Dont think about being weak or strong because as a trader then changes and decisions would really be that could be altered if its needed.
Dont mind about those things along the way because it s really just that normal that adjustments and alterations could happen. As long you do see that
you could really be able to benefit out then this is something which is really that a normal approach.

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Quote from: mk4 on November 23, 2023, 11:53:07 AM

Idea was to hold the position up to a certain price but took profit early? Weak.

Those who are too weak do not use their strategies well, and only maintain their initial positions,
but do not have the courage to stick to the already targeted price.

They are too weak to hold at peak prices, this is also because their trading psychology is not trained.
Even some weak traders like this sell their holdings at a loss because they panic too much with the downturn.

tjtonmoy

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I would say totally depend on the situation that you are in. Also, what kind of strategy or strategies you are using for analysis and calculation. For example, you have done your analysis and the market is moving according to your calculation. But suddenly the news breaks out, and the market could move entirely the different direction. Or it could be a good news which will push the market upward more. In case it's like this, you need to change your strategy and adapt to the situation you are in.

The crypto market does not always move based on calculation and analysis. There are sentiments as well. It can highly influence the market thus we need to use strategies to minimize our losses and maximize or profit. But it is also important to stick to the plan to avoid getting emotional. If you are comfortable with your profit then you should stick to your original take profit target. If the market is going to move opposite direction and you are already in a profit then it is wise to close the trade and take the profit.

Search simple it depends on situation you are in. But if you are not in a situation where you don't have to change the plan, if you do it then it should be called weak.

Russlenat

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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?

People trade for profits, so if profits are already achieved, then it's normal for traders to make an exit. Even though you don't get to achieved the maximum profits you set in your trades, as long as you're not losing, for me it's a wise trader. However, if you trade and lose and you decide to exit from your trade, for me that clearly shows that you're a weak trader. As long as you are not suffering from consistent losses, then I don't see it wise to exit from a trade, but hold your coins and wait for the right timing to exit from your trade.

However, traders have different point of views. If they think that would cut their future losses, then maybe exiting from a trade is a good option. But if you trade to gain maximum profits, then it's wise if you analyze the market well and trade only when the market seems to favor your trades.

mk4

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It's not one or the other — it's purely situational.

Idea was to open the position for quick small profit? Wise.
Idea was to hold the position up to a certain price but took profit early? Weak.
Idea was to hold the position up to a certain price but took profit early because the situation has changed? Wise.

barisbilgili

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Quote from: michellee on November 23, 2023, 10:27:02 AM

Greed will come to the trader and tell him to keep waiting for the price to rise higher. But the reality is that the price can immediately decrease without notice, so we lose the opportunity to make big profits.

Gamblers are weak because they cannot control their emotions in trading. They are always influenced by what is happening in the market and cannot adapt to what is happening in the market.

By always studying trading analysis, at least we will know when we enter and exit the market. We can avoid greed and take advantage of the benefits we have obtained.

Everyone who trades will of course experience a lot of things like what you mentioned, but we have to be able to overcome them by remaining in control of ourselves when trading, so that we don't miss out on the profits we have made so we have to wait for them to come back to get those profits.
When we have done trading, of course we have to keep learning trading and we also have to be able to control ourselves when trading.

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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?

It depends on a trader's wishes, whether he will continue trading without taking the profit he has seen before his eyes, or will instead exit the trade by saving the profit he has made. Personally, I prefer to trade continuously as long as I can make a profit because the purpose of trading is to make a profit, but because it is uncertain and cannot be predicted accurately, of course choosing to take profit by exiting the trade is also not a wrong choice. Although remaining in trading with a larger profit target is also quite wise for a trader.

michellee

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Greed will come to the trader and tell him to keep waiting for the price to rise higher. But the reality is that the price can immediately decrease without notice, so we lose the opportunity to make big profits.

Gamblers are weak because they cannot control their emotions in trading. They are always influenced by what is happening in the market and cannot adapt to what is happening in the market.

By always studying trading analysis, at least we will know when we enter and exit the market. We can avoid greed and take advantage of the benefits we have obtained.

GreatArkansas

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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 really depends, like based on your plan. Let's say you already entered a trade and you already set your take profit price and stop loss price but suddenly the price action went in a different direction, different from your expectation, so this time you can close the trade in profit even if your target price is still not reached. If that is your reason, then wise. If you don't have any basis, then weak.

Hypnosis00

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Wise traders often gain success while these weak traders often fail. However, quitting doesn't always mean that we are weak, sometimes we have to do this especially if we never see any profit anymore.

If we could think deeply, about why we should do this and spend time without any good result while quitting will help us save ourselves from losing and we save time as well. In the end, it was not a wrong decision but a wise decision. And this will also remind us that not all the time that trading is profitable as losses are also possible depending on the market condition.

Coin_trader

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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?

This is a case to case basis depending on different factor.

Weak Trader:
-If you take profit just because you are a bit excited because the price move after you purchased without analyzing the price chart if it’s still just the beginning.

Wise Trader:
-If the market is already reach a resistance or there’s a negative news that you knew that the price will be affected heavily. This time, Taking profit is really good because you already gain some despite it didn’t meet your target since you can always open new position once smoke is clear which you will knew if you analyze the chart.

Remember that taking profit early is still much less painful than taking loss while you already have the opportunity to gain profit.

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

-snip
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?

For me, it's a prudent decision to exit a trade early with some profit. It's about securing gains and mitigating potential losses, considering that we are in volatile markets where conditions can change rapidly. As a wise trader, recognizing that the market is unpredictable, it's better to lock in profits as a strategy. There were times when I preferred to stick to my TP levels and believed in long-term analysis. However, discipline and patience did not align with my preferences, so taking such risks could release potential profits.

Patrol69

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We all claim to be traders and we can claim to be traders but how many of us can claim to be a wise trader. Most of us traders don't feel much need to research the market, they usually trade with some volatility in the market. Although common traders trade in this way, the wise traders think several times before taking a trade and research the market several times to see which direction the market may go if they take the trade. They take trades only if something positive comes out of their research.

Being weak and wise are two different things when it comes to trading. It's okay to be weak in the sense that we don't have the courage to trade because we have no idea about trading. For this reason if a trader is weak then he does not risk his money. All of us Tedders need to know about trading well and then start trading.

tbct_mt2

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Quote from: God bless u on November 23, 2023, 07:48:18 AM

Certainly! I think it is clever choice to exit on a time when you see any profit taking opportunity and secure this profit on a time

You have to consider to exit when you see profit or see risk of loss.

Profit you see is only on screen, on paper and it is unreal if you don't close your position to take profit. It is a first step and another step to make it becomes your actual profit is cash it out or withdraw it from your exchange account to your non custodial wallet.

Reminder: do not keep your money in online accounts

When you see risk of loss, you must seriously consider to exit your position and wait for another chance to enter the market and chase for profit.

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