Take Profit or keep the position open? (Bitmex)

[N0sferatu]

Hey folks,

i recently started playing around with Bitmex and was wondering if you guys take profit at such spikes like today? Or do you just leave the position open and forget about it?

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions 

[alisafidel58]

That is the fun part of trading. You will have to keep wondering when to sell or hold special when there's a sudden price surge. I think you should hold a bit for and wait for a few more hours, it really hard to predict, I too can't decide whether to take profit or hold?

[logfiles]

You should have taken profit already by now. A correction is imminent.

[N0sferatu]

You should have taken profit already by now. A correction is imminent.

You're probably right with that - still i was thinking of leaving it open since it's only a small part of my investment.

I sold about 35% of my position @ 4750$ now. Hope i can buy back at around 4400$ - would you consider this a good re-entry point?

[Xenrise]

That is the fun part of trading.

A fun part? More like the rebuking part of trading. With this kind of trend we're having. I think it's best for you to watch the current market whether you sell or hodl. We don't know yet if this is a bull trap or something. But, if you're happy with your win, it's good for you to sell.

[alisafidel58]

That is the fun part of trading.

A fun part? More like the rebuking part of trading. With this kind of trend we're having. I think it's best for you to watch the current market whether you sell or hodl. We don't know yet if this is a bull trap or something. But, if you're happy with your win, it's good for you to sell.

Yes, it is fun. After this whole bearish market that has been taking for months now the price is now surging. The fun thing in this kind of event is the profit that you will be taking depending on how well you play in the market.

Bull trap or not profit is still what I want and other traders too. As of now, I think there is some correction going on.

[crwth]

I think it's better to Take Profit of course. A profit is a profit. Good thing you are on the green side, right now, I'm not on that side, it's definitely not a good feeling to feel.

I have a new point of view that a Stop Loss is a Stop loss too. To prevent eventually having more losses. It's really sad but that's just the reality now. I don't know what to feel anymore. You just have to move on and do more.

[Bitinity]

You should have taken profit already by now. A correction is imminent.

You're probably right with that - still i was thinking of leaving it open since it's only a small part of my investment.

I sold about 35% of my position @ 4750$ now. Hope i can buy back at around 4400$ - would you consider this a good re-entry point?

Glad that you have made some profit already, but I think it will be wiser if you sold more than 50%. I always do sell at least 50% of my coin when there is a sudden pump and leave the 50% for preparation just in case there is another pump coming. Actually if you bought it when it was 4,000-4,100 then it is a nice profit already if you sold it all at 4,750. Now it is around 4,600, still a nice time to sell it now if you think that it will go down to 4,400 in the next some hours.

[N0sferatu]

You should have taken profit already by now. A correction is imminent.

You're probably right with that - still i was thinking of leaving it open since it's only a small part of my investment.

I sold about 35% of my position @ 4750$ now. Hope i can buy back at around 4400$ - would you consider this a good re-entry point?

Glad that you have made some profit already, but I think it will be wiser if you sold more than 50%. I always do sell at least 50% of my coin when there is a sudden pump and leave the 50% for preparation just in case there is another pump coming. Actually if you bought it when it was 4,000-4,100 then it is a nice profit already if you sold it all at 4,750. Now it is around 4,600, still a nice time to sell it now if you think that it will go down to 4,400 in the next some hours.

Thank you, i'll take this idea into consideration.

Yeah my entry point was pretty much at 4000$. I'm unsure to close the whole position since i believe that i can't get such a nice entry point again.
But you guys are probably right, i should take the profit and wait until the market has normalised again.

[CoinChili]

I thought about leaving it open, since my estimated liquidation price is around 3500$ and i am pretty sure we're not going to see this low anymore (just my opinion).
It would probably be wise to take profits and re-buy at a lower point, but i'm afraid to miss out the hype train.

Please share your opinions  

I've already gained 50% profits from this huge spike. Even though there are regret feeling because I already exit the price before the huge bull run, at least 50% profit is enough for me. Too much greed is also too bad in trading.

Anyway, set stop loss already. Though your liquidation price is too far from the price now, do not underestimate the market! It can easily liquidate your entry if you will leave it open. Better to set an exit price.

Goodluck on your trading!

[traderethereum]

Taking your profit now will be better than never because you still don't know how long the price will stay at a price now but it's up to you, and I hope that after you make a decision, you will not regret it because no one knows what will happens tomorrow. But so far, I see that the candle still on the green although the price is down for now, but it still good to increase again. Still, these situations make us think twice, to cut the profit or still on the open position. But if you are sure that the price can increase in tomorrow, then you should leave it on the market.

[BitcoinTurk]

You need to set a target in advance for your actions. In particular, if a leverage is used, these transactions need to be closed immediately when a certain profit margin is achieved. The price fluctuation experienced today caused all long positions to explode, as we can imagine, and regretted all investors who wanted to achieve a profit margin outside their targets. Therefore, it is definitely the most reasonable option to close the positions and enjoy the profit margin when the transactions are achieved.

[cryptoblue77]

I think it would be better to take profits and re-buy later when the price drops again. We can't say that the bull has started and it would continue to increase. It may fall back again.

[Ultimist]

If you do not have time to constantly monitor the price, it is better to put take profit. But if there is time, watch. I would even advise you to use stop loss. When the price goes up, you can just move it higher and higher and then you will not miss the moment of sale.Also you will always be in profit.

[Slark]

The most important thing is never to be greedy. Often this does not lead to anything good. The most important thing is that you have already made a profit and do not risk it because of greed. Learn to control yourself and sell on time.

[The Sceptical Chymist]

It's a tough call on this one--nobody knows if bitcoin is going to stay at these prices or sink back to the god-awful range it was trading in for the past 8 months or so.  Personally, I would just hold what you've got.  I've always thought that bitcoin would break out of the range and go much higher.  This could be the beginning of that or it could be a false pop.

What you can be sure of is that you made a profit if you cash out now, and there's nothing wrong with taking your profits off the table.  Every trader does it at some point, and I think it's healthy for the markets.  The obvious problem you face is that if you sell now, you might miss out on making a lot more.  That's why I'd say sit tight and hope for the best.

[Bagaji]

Well, the decision on whether to take profit or hold for a while is up to you as is some how not rational for one to take someone advise in making such a delicate decision.

The most important thing is never to be greedy. Often this does not lead to anything good. The most important thing is that you have already made a profit and do not risk it because of greed. Learn to control yourself and sell on time.

I don't see holding as a greedy mind set since there people who are long term investor.

[akram143]

Taking the profit out from your success is also important because if you only trust your investment like in this cryptocurrency field there will be a lots of possibilities to you lost your money so I think if you are getting your convenient Prophet don't put it again in the same field it will not be a good idea also.

[mrdeposit]

Honestly, it is hard to tell something. But it might be able to get back to $4400, then I do not think it is gonna be any lower than that. Maybe we will wake up tomorrow with a higher price notification.

[jhenfelipe]

Personally, I'm still holding mine.Yes there was a spike in price, but it does not meet my target yet. I too believe that BTC price will be higher.

Of course, we are all different (some actively trade, others just hold and wait for their target to be reached). You sold at a price higher than your entry point and that's a good thing, it's always a good thing when you're in profit. Don't regret too much when the price pump more, instead of thinking that you missed the train, think that you already gain profit on the way. Stick on the bright side, regretting won't change anything anyway. So, be happy and satisfied with the profit and wait for a chance to buy back.

Also, you haven't sold the rest, right?