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.. A little wait might gives you more profit but it is not guaranteed.. Market will not work according to your strategy and there is possibility that your trade oppos your strategy.. I think exit before the target is sometimes essential for risk management.. Exiting from one trade doesn't mean that now we will not take any other trade.. We will now look for another opportunity which more favourable and we will lock our fund once again in other trade.
Remember, changing strategy according to market conditions and securing profits when needed showcase your ability that you are strategic trader..I think this decision is not about weakness.. it's about making wise decisions to make more secure your investments.
Topic: Weak or wise? - page 8. (Read 1081 times)
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 don't have to be a weak or a strong trade to get profit.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?
The vital line is you know how to protect your capital. It's how you are strong in trading. If you can not protect your capital by cut loss to close your position and exit the market, you are stupid.
Does it make sense if you are too strong by holding your position for days, weeks and ignore all risks, then at the end, you lose money by market crash, margin liquidation?
It is not strong but stupid trader.
People can call you as a weak trader by closing your position than wait to get profit but if it means you have to take higher risk, you should not follow them. You are a weak trader in their eyes but if you successfully protect your capital, it's just fine. It is your money, not theirs so they are free to say whatever they want to satisfy their ego.
In the past, I'm is type of trader you mentioned, selling out of fear that the price wouldn't go any higher. This happened with altcoins a few times. Even though the profits aren't significant, my trading math isn't strong enough to overcome my emotions. Now, I've chosen to set targets when HODLing Bitcoin. Bitcoin is the only asset I hold for the long term because it's the best. I have target to sell all of my BTC, which would give me enough money to buy something I've been dreaming of, especially since I've been DCA since it was around $20k.
I really want to buy a property for my small family's living space. Well, everyone needs a home, and it's a great honor to own one. This way, I can restart my Bitcoin journey after having a decent place to live. My resolve is strong, and I'm not easily swayed by FUD because of this goal.
maybe some people also have strong resolve when they have a clear goal, much like I do.
I really want to buy a property for my small family's living space. Well, everyone needs a home, and it's a great honor to own one. This way, I can restart my Bitcoin journey after having a decent place to live. My resolve is strong, and I'm not easily swayed by FUD because of this goal.
maybe some people also have strong resolve when they have a clear goal, much like I do.
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 the trader. If the trader keeps closing a trade even though the profit is less than 1R he is a weak trader. But if a trader closing above 1R, probably he is a wise trader.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?
Weak trader don't fully trust their trading plan, maybe he didn't do enough backtest on it. But a wise trader, know when to exit not because they afraid of losing but because they see that the market will go against you.
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.
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.
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?
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?
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