Art of quitting !!!!

[Theb]

Quitting might not be the appropriate word for it as if you aren't really quitting the market for good what you are really doing is just merely exiting a trade. Exiting a trade doesn't require you to have a gain in fact an exit for a trade only requires a plan and that plan is just simple as setting up a sell poit for both gain and loss scenario. You also need a target sell price for your loss in order to minimize your losses and this serves as a backup if your trade for profit has failed.

[kaya11]

A total quit means not entering the crypto market ever again, and that is not what is happening if we talk about traders and investors in crypto currencies. They may take a break and rest somewhere out of reach of internet and things connected to this market but the moment another spark will geive them interest and surely come back with even stronger hands to trade or invest. The so called quitters are the ones who've lost already or maybe died in this field due to depression or sometimes threat, not the one who just merely stops for little bit of time.

[BitcoinPanther]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

To quit with profit, we must follow the coin or token closely.  Depending on our target profit, we must have patience and be wise not to be greedy.  Meaning, selling our holdings once our target is met by the market.  We must also have the secondary plan, sometimes unexpected happen like developer quitting the project or a grave news exposing that the once we thought legit project is actually not what we know it is.  It is  best to cut losses by selling our token and quit before it dumps harder.

I think, it would be better if we just exit with profit than quitting with profit since there maybe a possible event that may trigger our interest to get in to try another profit generating venture.

[kodtycoon]

art of skill quit / stops, I'm not understand what you mean if you want to learn trade better you enter the trading section of the discussion. trade has its own terms and you have to find more knowledge there, it seems you want to ask the basic techniques of open buy positions, long / short term but not ask technical indicators directly

[shamc]

Quit while you're ahead is important in crypto where a coin can lose half it's value in less than a day. Everyone should have a target and simply stick to it without greed of wanting more

[suzanne5223]

As much i know no one can tell that perfectly when to quit in profit and when to buy in low, everything depends on plus and minus, you should be satisfy on what ever profit you are getting and on what low you are buying.

You're wrong because there are actually some certain things ones will combine together and it will make crypto trader and investors to know the time of entering and qutting the market. I mean things like checking to the status of the market, the level demand/supply and level of FUD/good news.

[Kemarit]

I don't know if there's such thing as art of quitting, but if you learn some basics about investing then you heard all about exit strategy:

What is an Exit Strategy

An exit strategy is a contingency plan that is executed by an investor, trader, venture capitalist or business owner to liquidate a position in a financial asset or dispose of tangible business assets once certain predetermined criteria for either has been met or exceeded. An exit strategy may be executed for the purpose of exiting a non-performing investment or closing a business that is not generating profits. In this case, the purpose of the exit strategy is to limit losses. An exit strategy may also be executed when an investment or business venture has met its profit objective. Other reasons for executing an exit strategy may include a significant change in market conditions due to a catastrophic event; legal reasons, such as estate planning, liability lawsuits or a divorce; or for the simple reason that a business owner/investor is retiring and wants to cash out.

https://www.investopedia.com/terms/e/exitstrategy.asp

So you need to have exit strategy as much as you have an entry strategy so that you won't get yourself in a position wherein you don't know when to sell or exit.

[okala]

Not sure if I'm qualified to answer this question, but just like with buying in whereas you should have a sort of target buy price, you should also have a target sell price. I think you should simply set a price goal whereas you set your sell offer, instead of trying to sell at the very top, because it's going to be very difficult to guess the price roof.

I think you should move this to the Trading Discussion subforum though.

I support your analysis but the ops does not clarify the question because if you say quitting it makes it look as if you are saying a final good bye to the market,  the question should have been how and when to sell or cash out and just as you have said. As one have a set price to buy you should also have the set price at which you sell you bitcoin and cash out your profits.

[cryptjh]

I know I'm not the best trader, but setting a price before you go into a trade is very important when you get to that price you should start to take profit, if it's a coin that often pumps and then dumps, then sell everything and repeat when the coin has fallen down again.  If you don't take profit then someone else will.
Also, you need to take losses also if you trade going south, you need to exit the trade before you lose too much money.
That obvious advice is easier said than done.

[Chikitita2004]

When you say quitting, there should only one reason and that is it doesn't benefit you anymore. If you love the business and you a big potential in it, you don't quit and you don't use the word quitting. To pause and to lie low maybe apply but not quit. To pause, observe and wait is always the best strategy when you are no longer seeing any positive sign from the market and not quit for good.

[Malsetid]

Of there's a "right time" In exiting the market, i doubt a lot of people can consistently figure out when that will be. The market would be very predictable if even one person can exactly know when the best time to quit is. That art you're talking about applies to trades with clear  goals and a structured plan. You may not exit at the perfect time  but at least you'll get out with profits.

[cellflash]

Quitting does mean failure. Sometimes it's saves what you've gained. And that's what we do in some projects that doesn't follow their proposed road map and those project with depreciating value..
But we should not loose hope and just quit or sell crypto.. Especially in time that Bitcoin is rising again..

[Ezenwanyi]

Quiting in business is not totally a wrong move.
Even soldiers fighting in the war fronts retreats to restrategize on their next line of action.
I see quiting as a period of taking out time to evaluate ones progress and then restrategize on winning steps to take.
To exist the market, one must have a  target.
Once that target is reached,you can safely exit and wait for a good entry position.

[Moiyah]

I guess the art of quitting you are pertaining to is on when is the right time to exit your entry in trading. That's what i've understand with your point. If you are using technical analysis and can understand the chart volume, you can exit your entry in the right time. Yes, it is true that we need further research and enough wisdom to perform all of this.

[Viscore]

There is no art in quitting, if one decides to quit they should.
Some just cannot wait until the the market will again be bullish, well, let's look and reflect on what is happening now, I don't think they will still
think of quitting. It's very nice to stay in crypto, you loss sometimes it's not the end of journey, you can still improve and be successful.

[darklus123]

There is no art in quitting, if one decides to quit they should.
Some just cannot wait until the the market will again be bullish, well, let's look and reflect on what is happening now, I don't think they will still
think of quitting. It's very nice to stay in crypto, you loss sometimes it's not the end of journey, you can still improve and be successful.

Nope there is actually a book called the art of quitting but it is only fit to apply in life, love and work. Yet for me it is not good to apply in crypto trading. As you have said lossing is a part of a trading platform which is just normal.

On the otherhand I can no longer understands what are you trying to point out

[maydna]

First, you need to decide the price you want to enter and exit so you can place your order in that price. Later, after you can enter the point to buy, you need to watch closer the market and decide how much profit you want to take. Then, you need to place the sell order and don't change it even if the price increase because you never know that it will still increase or decrease after that.

The important thing from this strategy is you don't greedy to chase a bigger profit, and you will feel enough for the profit because you can search for another profit in the next hour. When you can do this for 3x, I think your profit will bigger too while you are not chasing a bigger profit in one-time only. It is hard to stick with the profit we decide, but it's worth to do that because if you can make a profit over and over then, you can imagine how much profit you will get in the end.

[Ararbermas]

I think the meaning of quitting is to stop loss ,especially doing trading which is common strategy of some ppl in order to prevent regrets in the future and etc. But just temporary because it's just like you taking a vacation and you need to come back after especially if you know that the market is already stable and good to start again to regain losses.

[redsun114]

Lets discuss about Art of Quitting . Entering any market or business is required lots of research , dedication as well as patience . I think its also applies for Quitting . Based on some research people successfully gained money in Crypto market or any other trading Market  They know the skill Art of Quitting . Could some experience people can give their Strategy about Exiting market in Right time .

Well, it all depends on the kind of trader you want to be, either a trader that trades on a long term basis or a trader that trades on a short term basis, the truth is that those people who have made millions of dollars from crypto made it because they choose long term holding that short term trade, which is something we tend to avoid now, no one wants to hodl anymore.

Once you are trading on long term, then it's easier to exist the market because you will surely know when there is going to be a dip in price.

[pixie85]

As long as you have a target zone for both entry and exit position then you are good to go with this types of business, trading industry have a lots of significance, you needed to learned from time to time, knowing where to sell out and take your profits or cutting your loses and move forward is really a tough job inside this industry, but eventually after several trade you will be able to learned it masters your skills.

Sometimes having an exit in mind is a bad idea. Like yesterday when Bitcoin pumped 20% if you had decided to exit you would have lost a chance to double this profit today.
The best way around it is to wait and be ready to sell at all times or set up a bot to sell for you when prices fall.

You can also keep trading during the day and exit before going to bed. I found it to be a better choice than being bothered in your sleep by an open position.