Profit sell scaling

[Drassler]

How do you guys organize your sell steps ? Do you go full greedy or just sell when you're like 5 - 10 - 15% up when trading / daytrading crypto ?

I bought 1btc worth of tokencard last night at 32000 sats and sold at 36000 and 37000 actually making a decent ROI ... But it went to 60k so... money left on the table .
But on the other hand on the night of the segwit announcement i bought LTC at 1250000 , it shot up to 1600000sat and i didn't sell, so in the next 30 minutes or so it plummeted to 1100000sat. . . so there's these situations too ( altough in all honesty it did go back up a few days later i.e today ) .

What i'm trying to find out is how do you guys organize your sells for maximizing profit ( taking into account the risk and opportunity cost too ) .

Thank you !

[TheFibonacciTrader]

Generally speaking, in any trading aspect, you should be organizing your trades based on Risk:Reward. Usually you want to go after a 2:1 or 3:1. So don't look at it in terms of the money your making, but the percentage of gains you are getting. If you can gain 10% a week, you are a consistant profitable trader. They last longer in the markets than the one guy that makes 50% off one trade, but loses 6 other ones for 20% each.

You will have some trades that are sold off early, but if it was a comfortable exit point for you, you're doing it right.

[puremage111]

Yeah OP i am having the same dillema with you

When i don't sell while raise when hoping for more, it drop

When i sell, it raise XD

Anyhow just look at the bright side, profit is made

[wojak]

My daytrade strategies:

1. earn 2-3% 10 times, loose 1% 10 times - on stable coins
2. read a lot, predict what will happen

for example:
this week is sponsored by letter X for me - XMR & XRP
XMR is now stable because Korea is sleeping
XRP just announced that there may be huge injection of capital soon, so I moved some of my assets from XRM to XRP

that way I made today pretty nice profit, at the end of the day I will move to BTC cause there can be huge injection (some rumors) and before Korea wake up I will move my assets to XRM back.
I will count profit at the end of week.
Started with $200 two months ago, $7400+ now. It was my learning capital, before I move bigger part of my savings to cryptocurrencies

Shortly - I am looking on charts and when price to price at buy is higher than my thumb I am selling, when is lower than half of thumb I am selling too

[Drassler]

Generally speaking, in any trading aspect, you should be organizing your trades based on Risk:Reward. Usually you want to go after a 2:1 or 3:1. So don't look at it in terms of the money your making, but the percentage of gains you are getting. If you can gain 10% a week, you are a consistant profitable trader. They last longer in the markets than the one guy that makes 50% off one trade, but loses 6 other ones for 20% each.

You will have some trades that are sold off early, but if it was a comfortable exit point for you, you're doing it right.

Well yeah there's the saying "you can't go broke by taking profit" right  ?

On the other hand you can't get rich off of one-two trades either .

Oh well , to each his own i guess.

[TheFibonacciTrader]

Well you can get "rich" that way. If you're gaining 10% a week, you are consistently growing your funds. Therefore, every trade is waged a higher value, while staying to a 1:2 risk/reward. If you're trying to bank on one pair for the whole farm, you're essentially buying into the penny stock scheme where it hopefully blows up over night.

If you want to help with your exiting of trades, start looking at it with a more technical aspect. Where has price reversed before? You will probably see a retrace at that same point (supports & resistances) before a trend continuation, if not a full reversal.

[greyworld]

This what I like to do:

Say you buy 1000 coin for $1 each

Wait for it rise to $1.12 per and then sell 900 of them.  Do that first, now the rest is free so go ahead and be greedy with it.

So now you have 100 free coins.  Figure out how much you want to make off each payoff from them.  Let's say $40 per pay off.

Sell 28 * $1.50 = $42

Sell 20 * $2.00 = $40

Sell 14 * $3.00 = $42

Sell 10 * $4.00 = $40

Sell 8 * $5.00 = $40

Sell 7 * $6.00 = $42

Sell 6 * $7.00 = $42

Sell 5 * $8.00 = $40

Total: $328

And then there's a couple left as a long term growth investment.

That's higher return than selling all @ 200%, or all at 300%, if they all hit.  And if they don't all hit, at least you've still got the ones that didn't to reprice later, and you made something along the way.