Newbie - when to take profit

[Houdini76]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

[1714747254]

1714747254

[1714747254]

1714747254

[1714747254]

1714747254

[dothebeats]

Any profit is a profit nonetheless, but if you see the market is going well and the trend is heading towards positive directions, you just leave it as it is or place a sell order on a price point that you're comfortable taking profits in. Say for example, price is @ $8000 today, you bought in @ $7900 but the market is posed to get more gains which is projected to be somewhere around $8300 - $8400. The logical thing to do here is to not be greedy and gauge whether the market can do a push. How? Check order books in exchanges and volumes. Personally I'd put my sell @ $8100 and just wait for another entry point should my target be met early. I gained $200 easy with no stress and that's a profit already.

[harizen]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Honestly, that was a tough question because our answers are based on our own approach. It's your money so you can't just apply all the suggestions and advice here as we might have different output and result in the end.

There is a so-called price range where you are comfortable with the profits earned. But remember that once you hit that SELL or TRADE your BTC back to fiat, that's it and you have to create another round of buying and look for a good entry point and expect that the wind will turn to the way you want.

Bottom line: Since you are in confusion, try to have a test. Work on getting your profits and leave your capital. Create a set of "what if" and compute what might be your earnings if you didn't take out the capital.

[rodel caling]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Depends on your target how much percent you to take profits from your capital if want to double your money or tripple your money ypu need to wait long time to get it.
But if you want get fast earn profits just put sell margin target then you can get profits and wait again for the right timing. You can leave your capital or take it off all and switch to invest in another coins.

[hurry_hore]

I think there will be depending on:

1. Your goal / objective
2. Your strategy to reach the goal

1. If your goal is investment, then it should be for long term at least 2 years. If your goal is trading, you can withdraw just the profit or all capital. Next you can think for the strategy
2. The strategy can be put all the capital just into one coin / project, but most people say that "put eggs into several basket is better for safety and security". Then the profit can be invested into other potential coin/token for safety and security and also perhaps for bigger profit.

[numanoid]

Always take profit after a major pump, or significant announcement. HST-decision token is due for a major pump and announcement on Monday 06.17.19

Don't listen to this HST shill account. Why don't you buy all HST token on market if you really think that's a good coin?

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Take your profit and let your initial investment isn't best way. That only used while you gambling, take as much as profit you can and let your initial bankroll to prevent big loss. Do you ever heard about compound interest? That's when you invested all of your profit again with your initial investment, and let it after some years

[Julien_Olynpic]

You can’t say absolutely exactly after what price increase you need to sell. This question can be answered by technical analysis. Otherwise, it will be just a random choice. The price after the sale may continue to rise for a long time, or may immediately fall. Therefore, it is better to look at the chart and look for signs of market strength or weakness there.

[Kasabus]

You don't have to take it right your profit right away, the strategy that I'm using and makes me successful is I always take my capital and just trade my profit so there will be no risk in my part. However, you cannot do it in just a short period of time.

In your example, you have a little profit and you want to take it, I don't suggest that because you don't make profit all the time, as a trader, you also have losing day and that would reduce your capital if you keep taking profit, maybe just give more time, add your profit to your total capital so you can grow it bigger.

[MonsterV]

You can’t say absolutely exactly after what price increase you need to sell. This question can be answered by technical analysis. Otherwise, it will be just a random choice. The price after the sale may continue to rise for a long time, or may immediately fall. Therefore, it is better to look at the chart and look for signs of market strength or weakness there.

Not even technical analysis can answer that, actually no one can really say when to take profit because we don't have the crystal ball so know what will going to happen in the future. To the OP, why don't you learn about entry and exit strategy. This is a good tip for beginners like you so that you can manage your profit if you have this kind of strategy.

Namely the entry and exit strategy must be done with technical analysis. Your statement is true that no one really knows when to take profits, but with technical analysis we know when to take profits and not take profits carelessly.

And for OP, please study in-depth technical analysis again, you will know how to entry and exit trading. When you have made a profit, you can buy back if your technical analysis says prices will continue to rise, but if your technical analysis says otherwise then you must determine the support line to buy back.

[maxreish]

It all depends on your decision and style and of course depends on the situation. If there is a major pump and if i need money, i will cash out half of my profits then reinvest half of it and buy at dip. Or if not necessarily needed, then convert into fiat or stable coin then wait for bearish moment until you buy another coin. The significant here is that you were earning profits, that "when" answer always depends  on you.

[JNvak]

Please, consider using Galaxy Score. It's a feature that takes into account various factors and then tells you when to buy, sell or hold. This innovative tool is currently available on CoinDeal. It may be extremely useful to you since you're a newbie. (And it is for me since I'm not so-newbie )

[Babyrica0226]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

You know what, when you enter into bitcoin trading make sure you know what you are doing dude.
Because trading always has a risk involve,so you must aware of that. So, all I can say is when buyers are aggressive to buy
it means bitcoin will goes higher in my opinion.

[carlfebz2]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

You know what, when you enter into bitcoin trading make sure you know what you are doing dude.
Because trading always has a risk involve,so you must aware of that. So, all I can say is when buyers are aggressive to buy
it means bitcoin will goes higher in my opinion.

You arent answering his question dude! He do talks if he does right on selling not talking about the risk behind trading.For OP, its better not to depend on usd value though.
Lets say you do put up 0.01 btc then the price do rise up then sell it all with fiat pair then when the price goes down then buy cheaper.Rinse and repeat until you accumulate bitcoins on earlier entries or buying on cheaper rates.

[emerejames]

It is always difficult to replace capital when one touch it, even in open market many business liquidate because they touch the main capital. So I will advice you to take the €50, moreover if u don't have any urgent financial need, I will advice you to add the €50 to the capital to make it bigger any time there is pump up because in crypto the higher the Capital the higher the profit. But if you notice that the market is going down, then you can take all and keep them safe so that you can buy later.

[leowonderful]

There's a number of ways to take profit, but one of my favorite ones is using FTA (or first trouble area). At its most basic, it's simply exiting a trade (usually the whole trade) at whatever price level is closest to your entry that the price action could turn in the opposite direction. Relatively simple and effective since most people can accurately identify potential supports and resistances on a chart, and it's an easy way to apply that knowledge effectively. You could also just take partial profits around supports or resistances if you're going long or short.

[beerlover]

I think when considering something as low as 700 pounds you should look to increase your position and have a big portfolio instead of trying to trade, that is an amount that could be valid as an investment not as a trading capital. Of course there are tons of people who trade with less and so can you if you want to but I wouldn't suggest it since making just a couple bucks would mean nothing whereas if you increase your position with time and invest more money in the end you can do a big deal.

Unfortunately, in economics small scale investments rarely have big impacts whereas big investments actually can make a big difference in your life, that is why wealthy people manage to keep making more and more money since investing big amounts have bigger returns even in % not just pounds.

[sana54210]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Sometimes, this question can really be though to answer, because the time you bought at that 700, there is a certain  quantity of bitcoin it would have bought, and even if bitcoin increase in value, it would still be the same quantity because the profit you are referring to now is profit in fiat and not in bitcoin, the only way you can record profit in bitcoin is when you either remove the profit, which mean removing the profit would still reduce your quantity, then wait for bitcoin to go back to the value where you bought the seven hundred and buy that $50 before you can have more quantity.

So the more you remove the profit you see is going to be the more that you lose the quantity of bitcoin that you have, so my won advise would just be for you to leave your coin till it gets to peak before removing everything.

[matt7]

Please, consider using Galaxy Score. It's a feature that takes into account various factors and then tells you when to buy, sell or hold. This innovative tool is currently available on CoinDeal. It may be extremely useful to you since you're a newbie. (And it is for me since I'm not so-newbie )

It is quite interesting thing that galaxy score, hope it will help me a bit someday. Also Coindeal is pretty reliable exchange, good option for newbies, recently I've found ranking TOP 5 trading platforms for EU and CD is on the 1st place: https://cryptomag.me

[breathlessz]

why do you plan to buy at a more expensive price? when you are selling prices should be at resistance and buy back when there is a price correction, so that your assets will multiply

[ethereumhunter]

If I were you, I will take £50 and will wait for another time to see bitcoin is down, and I will buy bitcoin again if the price can get down from the first time I bought. Then if my order filled, I will wait for a while until the price can increase back and if the price suddenly can increase for more than £50, I will sell it again. I don't want to wait for a long time to sell because I need to make a profit and if necessary, I want to make a profit every day.

[Lanatsa]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Sometimes, this question can really be though to answer, because the time you bought at that 700, there is a certain  quantity of bitcoin it would have bought, and even if bitcoin increase in value, it would still be the same quantity because the profit you are referring to now is profit in fiat and not in bitcoin, the only way you can record profit in bitcoin is when you either remove the profit, which mean removing the profit would still reduce your quantity, then wait for bitcoin to go back to the value where you bought the seven hundred and buy that $50 before you can have more quantity.

So the more you remove the profit you see is going to be the more that you lose the quantity of bitcoin that you have, so my won advise would just be for you to leave your coin till it gets to peak before removing everything.

Compounding is much more better  rather than on actively pulling out anytime on what you do have made but somehow as long you do make profits then it doesn't matter.

[Hypnosis00]

What I did since from the very beginning, I get my profit by then and leave the capital...what I'll do is to separate my profit and make investments into another coin rather than of compounding it. I used to choose differently for us to have another option and to know which one is more profitable.

[nydiacaskey01]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

It depends on your plan (period of time) and target (amount). You can achieve your target in a shorter period of time if you don't take away your profits and roll it over to your next investment however, doing this you will never feel your profits or enjoy any part of it specially if all of a sudden price of Bitcoin drops.

[The Sceptical Chymist]

Ok so I now have £700 invested in bitcoin .

If that amount isn't a lot for you, my advice would be to not take your profit off the table anytime soon--unless you have good reason to, i.e., you need it for something else.  If that's the case, however, you probably shouldn't be gambling with money you don't want to lose.

I've always been a buy-and-hold investor and I don't focus on short-term trades, so I don't get too excited when one of my investments goes up in value a lot in a short period of time.  I think it's best to just let it ride and see if it makes you even more money.  But if you are interested in getting in and out of your positions quickly and taking your profit, it's really hard for anyone else to say when you should do it.  You could set a % value for when you're going to cash out, and that's probably the best way to do it, like when your bitcoin investment rises 10% it's time to sell.  That's really up to you, though.

You never know what bitcoin is going to do.  You could end up selling and missing out on the rocket ship to the moon.

[shield132]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

You may already had take decision and if yes, then let us know what you did, if no, then I'll write my personal opinion.
For quick and nice profit without no further risk, £50 from £700 (for example) is good, acceptable profit. But if you want more profit, you also have to consider that you can't exchange btc/usd when you'll need,, you have to understand that you won't need this money quickly and you'll be okey to keep money invested for months. If you can do second, then why to say no to good profit?

[DimitrisLodirogas]

Take as much as you need. you must treat the money you invested as its gone. that money is making you more money while you are doing other stuff. If you run out of it take it out of the investment.

[Thanasis]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you want to take out your profits then grow it atleast to 50% of growth from your capital then take out your half of the capital and then let the remaining work for you then cash out the remaining half after 100% growth so now you have only profits as your hold so just hold it until you feel no more reach the bitcoin can.

[Upgate]

Our profits range might be difference if you are cool with a profit you have made already then it's not a bad idea to pull it out still leaving the capital in trade.
I am a long term trader and I don't take out profit at short intervals so I wouldn't do that.

[Webberson]

Considering the fact that the market has an up, down kind of movement, it is always advisable to take profit when a reasonable amount of profit has been made on your investment. Having your capital withdrawn and leaving your profit to trade, is a good move, but you have to stick to the same principle(s) that gives you the gain initially, otherwise, you would find yourself losing the profit you've earned and reinvesting that capital which you've initially withdrawn.

[The Cryptovator]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Its depend on trend. For example I have sold some bitcoin yesterday and price was above $10.5K. And seems today bitcoin price has been dumped below $10K. Although I sold it permanently and I will not buy back but if you like then you could get benefits of that dump. It doesn't mean you will be always gainer. That's why you should well research current market conditions. Otherwise you might lose your funds.

[xamxam]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you see a coins that got dumped its value in the exchange rapidly, and you know it is a potential coins in the market like Ethereum, ada, Vet, and Xem/Nem are good to buy em now then hold until it pump the price of each of them in the exchange site platform.

[danherbias07]

That means you are also losing a part of bitcoin by doing that.

Let us say you bought at 10k usd and it risen to 11k usd then you sold a part of that for 1k usd and still having a value of 10k usd in your account. But, how much bitcoin do you know have?
Of course it wont be a whole bitcoin anymore. Maybe about .9 something is left.

You still need to accumulate that remaining hole again to complete 1 btc in case of a price drop.

[Babyrica0226]

Just sell it when you know you're gonna be satisfied by after getting that net of yours. It's your money/coin/investment. If you're gonna aim for higher profit next time than what you get right now, then you might need to consider your savings also that you could use to build your capital even further as you trade higher and higher at that time.
Just my two cents.

As a newbie, I think you need to set a goal or target in aiming profit in trading.
Then once you set it up, you must have a proper time management about the activity you are going to do
in the actual trade in the exchange site platform. After you you finish your set up as a newbie trader make sure
you will buy the promising and potential coin in the market. Good luck..

[Reid]

Take it whenever you can. Do not stop yourself when you see an opening for profit.
Then, think about later on how to accumulate another bitcoin or you could just wait for the price to be dumped again which surely happens most of the time.

Taking a deeper thought into when you will sell will just make it worse or it will just stress you.
HODL or sell. There is just two options there and it shouldn't be much of a thought.

[SquallLeonhart]

I have always used the strategy of "only withdraw when you have to" method, its not as good as some other day traders methods (some lose a lot tho) but its still a viable method if you just want to have more and more bitcoin in your account and even if it goes down you keep getting more, that way when there is another all time high you gonna have enough money to sell and do something big instead of keep making smaller profits.

Traders do make more money than this strategy if they are good and I do respect that but I am not a good trader and I don't know when to sell so instead of selling whenever I want to, I sell whenever I have to, there are stuff in life when you have to withdraw some money but if you stay careful then you can actually have 1 bitcoin without having to sell and then you can sell whatever left over is.

[adzino]

This point depends totally on you. Different people have different target. I would suggest you to set a goal. Once you have reached your goal, take your profit and start from the beginning. Or, you can reinvest your profit and add it to the capital and make more profit out of it. Just remember, the larger profit goal you set, the higher risk you will be holding. I would suggest you to keep your profit goal small and pocket your profit periodically.

[Eildosa]

If you have chosen this approach, then it is worth selling bitcoin after it has experienced a large growth. Then after the price drops a little, you can buy again and keep until the next pump. This will be your profit.

[btc-facebook]

save your bitcoin friends, and sell in 2020,
do not rush into the profits now, because future profits are many times greater than now.
and precisely if you have cold money, and you can reinvest, but I'm not advocating, just giving ideas.
it's all up to you.

[befriendmywater]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

It all depends on your thoughts. Before investing, you should get a desired profit plan and follow your plan.
Don't let the market decide your money, it's very dangerous.

[guoyu78]

Its depend on trend. For example I have sold some bitcoin yesterday and price was above $10.5K. And seems today bitcoin price has been dumped below $10K. Although I sold it permanently and I will not buy back but if you like then you could get benefits of that dump. It doesn't mean you will be always gainer. That's why you should well research current market conditions. Otherwise you might lose your funds.

I bet that the one you sold is just one of those fiat that you are using to do shorts because I believe you would not just sell your main investment finally like that when the sky is still the limit of bitcoin, if you do that, what will you tell your children in future when bitcoin equal to $1 million, and then everyone who invested now with at least 1 bitcoin suddenly becomes a millionaire, do you think they will be happy for you, better you invest now for the future and forget about all these minor profits that you will only end up using to take some bottles of wines and snacks.

Don’t mind me though, I am a long term holder, it’s what I believe in and I would not want to alter your own decision as everyone is entitled to theirs, just do as you wishes and do what is best for you.

[TheUltraElite]

OP, if you are new to trading stop thinking that you are making silly questions because every doubt is a doubt silly or not does not matter.

Coming back to topic, if you have made a profit, book it and sell the coins. That will ease your mind. This is important because the fact if not sold would plage your mind every time the price dropped. This leads to a vicious cycle of anxiety and depression which is deadly. Hence take a profti out when you can and tell yourself that you did a right thing. Then decide when to buy back and get into the market again. Recycling your money is important here.

[kennen1113]

OP, if you are new to trading stop thinking that you are making silly questions because every doubt is a doubt silly or not does not matter.

Coming back to topic, if you have made a profit, book it and sell the coins. That will ease your mind. This is important because the fact if not sold would plage your mind every time the price dropped. This leads to a vicious cycle of anxiety and depression which is deadly. Hence take a profti out when you can and tell yourself that you did a right thing. Then decide when to buy back and get into the market again. Recycling your money is important here.

Well, most newbies often ask when to take profits but they don't realize that this job is something they should do right from the moment they start buying, they need to set an accurate and appropriate rate of return for their investment because time and greed factor is always cause us to miss the opportunity to take profits, so we need to prepare everything. And after being successful in a fight, the best thing is to rest, finding an opportunity quickly is impossible, emotional excitement will deceive us.

[Salauddin1994]

Newbie looking find profit only If they think of losing, thinking only of profit will solve all the problems In fact the opposite happens more often In that case, there is nothing new to think about Keeps It is only natural for them to make mistakes when their profits are the main thing And they get hurt because of these mistakes.

[shoreno]

Newbie looking find profit only If they think of losing, thinking only of profit will solve all the problems

agreed . as a newbie thier mind is mostly compose of profit or on how to earn and simillar stuffs like that but they dont know how dangerous they are going to venture  .  this is should be corrected asap . 

OP, if you are new to trading stop thinking that you are making silly questions because every doubt is a doubt silly or not does not matter.

i dont find that a silly question but its okay to ask question like this since he is still a newbie  .

@op yes , that right  .  you can take the profit and leave your starting capital to be able to earn again  . thats what most of us are doing right now  .

[asyakashi]

save your bitcoin friends, and sell in 2020,
do not rush into the profits now, because future profits are many times greater than now.
and precisely if you have cold money, and you can reinvest, but I'm not advocating, just giving ideas.
it's all up to you.

Everyone says the same thing, what exactly is there in 2020?
is this because of halving bitcoin or related to some issues about coin libra that will make bitcoin prices go up?
I believe but need a reasonable reason.

[Mpamaegbu]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Of course, it's really difficult to give a cut clear answer on this since man in insatiable in nature. Greed will always be there to want more. I rely on the advice of Warren Buffet on this - take profit when people are rushing in to buy. Whenever you're in profit and you see that spike in your favour, that's when to take profit to safety.

[ethereumhunter]

If I were you, I will take £50 and will wait for another time to see bitcoin is down, and I will buy bitcoin again if the price can get down from the first time I bought. Then if my order filled, I will wait for a while until the price can increase back and if the price suddenly can increase for more than £50, I will sell it again. I don't want to wait for a long time to sell because I need to make a profit and if necessary, I want to make a profit every day.

Can be possible but a tough and risky moves shorting can trapped you up from the market as there's a continuous dumped that may happened and not the expectations that you are waiting, but for those who are willing and have that sense of responsibility who can manage to adopt in every situational instances then gaining can also be escalated.

At least, I already take the profit so I can wait for another dump of the price and I can buy bitcoin at a low price. I don't mind to take a small profit than never because, in these situations, we are difficult to make a big profit so small profit will be better than nothing.

You can use little calculation like this, you buy bitcoin at $10,300, and you can sell bitcoin at $10,350-$10,500. I think that is enough for you because you can get a profit from the trade. Although the profit is not too big, if you can repeat many times, I am sure that you will be able to get $100 of profit in a week.

[pratik009]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

If you think about short term then i think you should take profit and again wait for the deep. But if you think about yhe long term investment then €50 is nothing as per view of profit. I think you should wait until your investment will be double.

[TGA24]

Taking profit depends on what your objective is. I think something to take into consideration is what your downside is. In another words, what are you risking.

If for example you want to take 50 pounds out of the market, how much is it that you can potentially lose. I'm not making any forecasts here, or suggesting where Bitcoin will go, but let's say it drops back to around $5000. You would have lost 400 pounds. Is that really worth it to make 50 pounds?

Most professional traders call this risk to reward. In determining this, you have to assess how volatile the asset is that you're trading. In this case, bitcoin is quite volatile, so you have a lot of exposure. But that volatility can also work in your favor.

If you're into technical analysis, you might be better off just choosing a spot that you want to sell based on your analysis. This way it has nothing to do with your PnL. Actually, that is how it should be. It's generally not a good idea to be too focused on your PnL, but rather watch and see which direction it is heading. If it's heading up, why would you want to sell? If there are signs that its reversing, it makes sense to get out and try again at a later date.

[TheUltraElite]

Well, most newbies often ask when to take profits but they don't realize that this job is something they should do right from the moment they start buying, they need to set an accurate and appropriate rate of return for their investment because time and greed factor is always cause us to miss the opportunity to take profits, so we need to prepare everything.

Its possible that the OP is just trying out a simulation to know our responses. It is not mandatory to start trading.

It could be that they are genuinely looking for a point of selling in which I agree with you that this is something that they should have decided on before buying. In any case I think the point is selling should be closer or more than 10% profit, if you manage to get that margin. If not you could sell at lower profits but thent he next trade should be carefully done. Besides smaller profit traders are possible because the market is slower these days.

[Bunsomjelican]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

I don't see any wrong with your idea and plan. You can remove if you want, or you can still apply
compounding system formula, with this method you can easily get more profit and faster if the price
is movable in the market.

[ololajulo]

This is the basic decision venue of every crypto investors and traders, it separates the successful from the failures in the space. Experience had help most successful traders and investors, Technical analysis are good when the market is good but do fail also, so it is difficult to trust, so you need to adopt a lot of avenue to make your decision: technical analysis, news, market trend/cycle etc. The rich are satisfied with little pump while the low capital investors desire a higher ROI. risk taking capacity of every individual is different and it also different for bitcoin and other altcoin.

[izanagi narukami]

IMO every people seek different profit.

Personally I just take the profit because I believe btc will keep increase eventhough it's downtrend for example
For who sell all their capital because they afraid and still not fully trust on it

[Ridwan Fauzi]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Actually I still distinguish between investing and trading, I mean when I choose investing the short term target that I must sell my bitcoin is around six mounths and depend on my profit desired. I'll sell them when I got profit such as a half in my capital or one-fourth on my capital. And also I'll update the latest information actually in fudamental side tk decide between still hold or sell.

But when I choose trading I'll take a time for almost one week in long term for strategy to gain profit. If my money has been added whatever its amount I'll sell it and buy back again depend on my analyst when I use strategy to see the technical analyst. But I often to use the short time frime such as one day or even an hours if the profit that I got is big then I'll sell it.

[SirLancelot]

Trading is not for a newbie , they should have taken their time to understand everything about cryptocurrencies and how the trading is being done, instead of jump straight into it and losing their money. When I was a newbie I never took interest in daily trading because based on the experience I have had with binary trading and forex, I knew that this one isn’t going to be anything different.

Even till now I hardly trade when I’m alone. I prefer to trade when I’m together with my friends , cause they are the experts in this . I just follow their trade and whatever option they put just do the same thing. It’s not an easy thing, that’s why I don’t stress myself to trade when I’m alone, cause several times I have tried , it’s mainly loss, but I was saved by the Stop-Loss ( thanks to whoever that introduced that ).

Even as a newbie I was only doing HODL and that’s how I was able to make all the money I have made in Bitcoin (Bitcoin is what I trade mainly, started with ETH just recently). I invest my money and I have patience for long time to see what will be the outcome. That way I was able to make lots of profits uncountable times , more profits, more than what I have ever invested in this crypto market.

So, newbies should only focus on long term and not rushing into daily trade because of quick money. If you rush it , you end up losing.

[jostorres]

IMO every people seek different profit.

Personally I just take the profit because I believe btc will keep increase eventhough it's downtrend for example
For who sell all their capital because they afraid and still not fully trust on it

You know that the moment you take your profit, you already taken out of the quantity of what you have and I agree with you that bitcoin will continue to increase even if you take profit, but since you believe it will continue to increase then don’t you leave the profit also to continue to yield result, and if I ask, how many profit do you want to take till your bitcoin quantity becomes zero, if you keep taking profit and reducing the quantity of your bitcoin, then what will be left to take later.

If I am going to be a short term trader, better I be, and if I want to be a long term trader which is the most profitable, it is better I be. That profit would have yielded another increase for me and that is what I canny turnover.

[TheUltraElite]

You mean he or she should sell to whenever Hus adversaries move to buy their portfolios? OMG, if you do that, it may mean your lost or your gains either way you have executed you plans. To me, I would rather keep them for a long-term and sell when I have made a lot of profits and not to do it because of my adversaries.

A lot of profits is often not possible in this market. I saw bitcoin move down to 9.9k mark and then rise back 10.1k mark. If someone had booked this range then they would have made a lot of profit. Otherwise I dont think it is possible to get such trades on a regular basis - you would have to be doing TA pretty precisely and without making a wrong order you would have to buy and sell.

Long term or short does not matter as long as you stay in the game and not back off. Use you own style of playing and you should be fine.

[LogitechMouse]

Short answer. As long as you sold your coin above your buying price (fees for buying and selling has been removed), you have a profit already.
You said that you are a newbie, I think the best thing you do is to just hold Bitcoin for the long run. You can try trading too and if you are successful then continue it but if you don't then stop.

[princerepon]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

I don't understand it's your money and you have to decide how much percentage you want. And if you profit 100$ it's up to you to keep going with capital or not. But yes the more you earn if you more invest (if everything going in your way). I mean if you invest 2000$ and gain 5% that's mean your profit is 100$ other hand if you invest 20000$ and gain 5% that's means your profit is 1000$. Same percentage gain but different profit because of investing much money. So try to invest good amount if it's possible.

[Al-e_x]

My advice is you better take a small profit but consistently if you have profit £ 50 then go ahead and wait for the price correction, because if you are greedy by waiting for a large profit then you will lose, that's my experience

[pieppiep]

My advice is you better take a small profit but consistently if you have profit £ 50 then go ahead and wait for the price correction, because if you are greedy by waiting for a large profit then you will lose, that's my experience

Yes, I agree. With take a small profit consistently, he will get a bigger profit in the end. Besides that, he will improve his skills in trading because he always searches for a way to enter the market and buy a low price. By doing that, he will be able to know when the time to buy and sell and he can analyze better than the other people. But of course, that will need time before he can improve the skills and that will not happen in a short time. I think that will worth for him to try as much as he can because with the volatility of the market, he can get the right time to trade and in a long time, he will make a big profit.

[Ararbermas]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

if you don't need it then let it grow.. because if you have big amount in your portfolio and once the growth rate of your investment  keep progressing the amount of profits that will enter to your portfolio  will increase as well. So keep it as long you don't need it.  And suggest don't dump the entire balance wherein just remove the profits or small amount that you want.  because if you do that  You will pay for another fee on it.  

[sana54210]

Short answer. As long as you sold your coin above your buying price (fees for buying and selling has been removed), you have a profit already.
You said that you are a newbie, I think the best thing you do is to just hold Bitcoin for the long run. You can try trading too and if you are successful then continue it but if you don't then stop.

I was a newbie when I started trading bitcoin, when I was introduced to it, I got introduced to it from the aspect of trading because I was already into Forex trading, and then we were having a group discussion when we talked about binary option, and then he told be abut crypto, it was new to me but it did not take me more than just a week for me to get used to it because of my experience in trade, so not all newbie does not really know how to trade.

If he knows how to trade, then he can start without having to be an investor which majority of them belongs to the class of long term holder like you suggested, long time holding can really be tiring, it is only best when you want to make it your second choice of investment, so more like trading and holding.

[Arkann]

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period.  Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

[SARA ISLAM]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Hello trading is a pure business and you need to learn first then invest your capital into trading otherwise you lose any time.
Moving Average Crossover Strategy, I think this video help you for starting to learn https://www.youtube.com/watch?v=jnDRgk9GKWo

[Jating]

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period.  Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

I would not consider trading as easy for newcomers two years ago. You may consider it easy that time because we are in the final leg of the massive bull run, so obviously the price keeps pumping months and months. So there's a lot of beginners who earn by just buying and then shorting it. But now it is very different and I'm sure that those newcomers are already out of the market in 2018 because it didn't satisfy their goal to be a crypto millionaire year because the market chance a lot.

So beginners today are not that lucky compare to two years ago. Conversely, it could be a good time to trade though in this kind of hostile environment, as least you learn a lot and become reliable and responsible for your trades.

[Oilacris]

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period.  Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

I would not consider trading as easy for newcomers two years ago. You may consider it easy that time because we are in the final leg of the massive bull run, so obviously the price keeps pumping months and months. So there's a lot of beginners who earn by just buying and then shorting it. But now it is very different and I'm sure that those newcomers are already out of the market in 2018 because it didn't satisfy their goal to be a crypto millionaire year because the market chance a lot.

So beginners today are not that lucky compare to two years ago. Conversely, it could be a good time to trade though in this kind of hostile environment, as least you learn a lot and become reliable and responsible for your trades.

This is actually true,i have seen lots of newbies that do trade up those previous years that getting some enourmous profit because it was just tied up with the bull run event.

They are indeed somehow lucky into those times yet even how newbie or new you are on crypto trade you would still have high chances on making money on just holding up
without doing anything and as you said those good old days had passed and it isn't similar on the current situation we are facing now.

[samcrypto]

I even felt amused when I read the table of contents on this topic, since almost only two years ago, newcomers could more or less normally earn money, because even trading was easier than for this period.  Before a beginner earns money and also does not lose his investment, he needs to study a lot of information.

Now it requires a lot of sacrifices and need to have more analysis, newbies should know when to trade. Taking profit is a must even if you are a hodler, and i usually do this when the market recovers from the dump price. Trading is about buying and selling but you still need to analyze and know when to do that, that’s the hardest part of being a trader.

[Wonder_woman]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

When I m a newbie before I started to get my payment after the compaigns end. It's really exciting to have a first payment. I really must have a chance again to be a bounty hunters so that l can have again my payments.

[hahay]

I think he bought when the price of bitcoin was around 8k at the time and even though at the moment the price is declining but it's still a good profit from what was expected. So, now it is up to you to make a decision how much profit you want to get from your investment.

[Herry Toms]

Taking profit is not that easy as you are saying. Until you are not making 3x of your stops loss then you are not going to make money on a consistent basis. The best way to make a profit is to let the market decide where to exit, sometimes we miss bigger trades because of fear, so it's important to overcome your fears and observe the market from a natural perspective.  Taking big profits when the market makes it available is important.

Cut your losses short, let your profits grow.   (Simple is that)

[Yamifoud]

Taking profit is not that easy as you are saying. Until you are not making 3x of your stops loss then you are not going to make money on a consistent basis. The best way to make a profit is to let the market decide where to exit, sometimes we miss bigger trades because of fear, so it's important to overcome your fears and observe the market from a natural perspective.  Taking big profits when the market makes it available is important.

Cut your losses short, let your profits grow.   (Simple is that)

How long that you've been in trading? I've never think that you are just new in here cause you know a lot at your position (Newbie).
And you are right,  we should take advantageous in every opportunity we've seen through.  Conquer those fear and doubts to have a comfortable trading life. Will not be enough,  we have to focus of what we are doing and keep learning while trading.  We can surely gain more knowledge base in our experience.

[lixer]

I'm really interested in knowing the answer to this as well.  When do you take profit?  How can you tell?

Nobody will be able to tell you when you should take your own profit, if you are to get advice, you will get different answer because we all have our own different goals, expectation and strategy. You are the one trading and you will be the one to personally know which profit will be enough for you after you have put into consideration all the risk that are in the market.

It is believe that every trader must set a goal, you either set that you will take profit when you see 1%, 5%, 10% or any other percentage that you feel deem fit, but it is always advisable that you set percentage that you will be able to take on time and not lose out of greed. One of the easiest way is just for you to make use of the stop loss and take profit tool, set your profit not to be too high so that you don’t always miss that opportunity, it is better you take little and trade many times than to wait for big profit and not make any on time.

[mrBTCman]

I would join Xampeuu's words and agree that profiting depends on how you plan to invest — long or short terms. And also, from myself, I would recommend using tools that may help you in your trading path. No, I'm not talking about trading bots (there are different opinions on using them for now). Currently. my trading tool is a bot that allows tracking market situation and price changes. Like CEX Info Bot — https://t.me/CexIoInfoBot. I think it's quite a practical and helpful bot, and it has become the number one for me.

[muhhentuhhen]

Taking profit is not that easy as you are saying. Until you are not making 3x of your stops loss then you are not going to make money on a consistent basis. The best way to make a profit is to let the market decide where to exit, sometimes we miss bigger trades because of fear, so it's important to overcome your fears and observe the market from a natural perspective.  Taking big profits when the market makes it available is important.

Cut your losses short, let your profits grow.   (Simple is that)

The most common mistake of novice traders and investors is that they want to take profits at the maximum price movement. They want to take from the price and sell the crypt exactly before turning its rate down. This kind of desire usually leads to the fact that the trader misses the opportunity to sell at a good price, and is forced to observe how the price rolls more and more down, taking with him all the earned profit.

[bitcoinst]

First you need to decide on your strategy. Trading is now a very dangerous business, study the charts. You will quickly understand how the market works, with what periodicity they knock out stops, and in both directions.
All you need to do is learn to predict the next action of the market, and it is very difficult.

[tadpole_bitfrog]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

[maydna]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

Without learning, someone can't make a profit unless he always gets lucky in the trading. When we can learn from many tutorials, we will have the skills to analyze the chart which will help us to get the right price to buy, although we need more practice to get a higher chance. If you can practice every day, then I guess it will no need to a long time to improve your skills because you get the experience with practicing trading.

You should also know that the market will not have the same pattern in every day, so you need always to analyze it before you decide. If you can see the price start increase, then that is the time for you to prepare in the sell order and place your price to sell.

[Lanatsa]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

Without learning, someone can't make a profit unless he always gets lucky in the trading. When we can learn from many tutorials, we will have the skills to analyze the chart which will help us to get the right price to buy, although we need more practice to get a higher chance. If you can practice every day, then I guess it will no need to a long time to improve your skills because you get the experience with practicing trading.

You should also know that the market will not have the same pattern in every day, so you need always to analyze it before you decide. If you can see the price start increase, then that is the time for you to prepare in the sell order and place your price to sell.

I cant deny that we do need some sort of luck when we do trade but it isn't a dependable thing for you to rely on because its totally different when you do trade according to your knowledge rather than relying on luck in terms of results because it would really act just like you are making some gamble.Learning would really take some time and it cant be achieved overnight.Success will vary on how you do hardly work on it and if you do make yourself learn all the possible things you would able to obtain then expect for you to somehow able to survive this very unpredictable market.It wont be easy but at least it is possible it depends on how hardly you work for it.

[PuertoLibre]

First you need to decide on your strategy. Trading is now a very dangerous business, study the charts. You will quickly understand how the market works, with what periodicity they knock out stops, and in both directions.
All you need to do is learn to predict the next action of the market, and it is very difficult.

How to read the charts if the newbie doesn't have seen 5 charts together since he started the crypto trading? Before thinking about making money with crypto trading, learning the market patterns and using these patterns for predicting the next market trend is crucial. It is difficult to trade the volatility in the crypto market wihout the proper background and money management skills in my opinion. Without the trading skills, the trading experience will turn to the survival game which will lead to the starvation in case of wrong trade series.  Predictions can be traded by the experienced traders, the newcomers have to go through the market patterns before they start to trade based on personal forecasting.

[Jellachrist]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Business is all about risk likewise trading the higher your risk in most cases the greater your profits so it all depends on individual decision either to a higher or lower risk but trust me high risk takers are always on top while the rest follows. Although am not too vast in trading just using the idea of centralized businesses.

[ufaiz50]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

Take profits and leave it, looking for lots of profits will only give you more anxiety over the market, you can also still hold bitcoin and do market trend analysis that will increase your knowledge rather than waiting for the market. my advice is more to take profits because newbies need good experience on the market this will spur you to trade ( isee in terms of psychology).

[Ewox]

When I started doing trading a few years back what I usually do is I take the profit and leave the capital behind and just hodl. But I made sure my profit increases at least 90% or at least the same amount of capital I placed on the trading site. And a few years after it’s still there, didn’t even withdraw the rest of the amount. we traders do have different tactics on how to go about our trading, and I do hope you make the wisest decision too.

[maydna]

This may be a silly question - Ok so I now have £700 invested in bitcoin . Let's say it goes up by £50 - do I remove the profit and leave the working capital( £700 )in bitcoin ? Or do I take the lot?

If I take the lot then when I buy back in It may pay a higher price. What do you suggest?

This is exactly what trading experience will solve for you. I believe that everyone has questions like you but if you only guess about the trend, it is really a gambling game.
To be clear on this, you should really read about the trading documentation and there will be some tricks on resistance and support. It will help you a lot in making decisions.

Without learning, someone can't make a profit unless he always gets lucky in the trading. When we can learn from many tutorials, we will have the skills to analyze the chart which will help us to get the right price to buy, although we need more practice to get a higher chance. If you can practice every day, then I guess it will no need to a long time to improve your skills because you get the experience with practicing trading.

You should also know that the market will not have the same pattern in every day, so you need always to analyze it before you decide. If you can see the price start increase, then that is the time for you to prepare in the sell order and place your price to sell.

I cant deny that we do need some sort of luck when we do trade but it isn't a dependable thing for you to rely on because its totally different when you do trade according to your knowledge rather than relying on luck in terms of results because it would really act just like you are making some gamble.Learning would really take some time and it cant be achieved overnight.Success will vary on how you do hardly work on it and if you do make yourself learn all the possible things you would able to obtain then expect for you to somehow able to survive this very unpredictable market.It wont be easy but at least it is possible it depends on how hardly you work for it.

Of course, we need luck in trading too like what we need in gambling

Luck will come at the right time, especially if we can analyze when the market changes the price. It is possible to take the profit even for a newbie who was still learning about trading, but they still need to have the experience to make more profit.

By trying more and more in trading, slowly they will know when they need to make a profit and when they need to wait for a while to get a bigger profit. Besides that, they will know when they need to leave the market if the market is not moving or seems to get stuck on that day. So they can save their money for another trade.

[Bitcoin Seller]

When I started doing trading a few years back what I usually do is I take the profit and leave the capital behind and just hodl. But I made sure my profit increases at least 90% or at least the same amount of capital I placed on the trading site. And a few years after it’s still there, didn’t even withdraw the rest of the amount. we traders do have different tactics on how to go about our trading, and I do hope you make the wisest decision too.

Probably, newbies should better hold crypto and learn more about the market before. In order not to miss a profit, it’s enough just to own the basics of technical analysis of financial markets, which will allow you to choose the right benchmarks and calculate the transaction for the maximum efficiency of your investments. Take profit is the thing you should do at the nearest resistance level or near it.