How do you make `Trading` profitable?

[webtricks]

This is my long-standing question - How do you make Trading profitable?

Now let me explain the point:

I am doing trading in shares, stocks, commodities and cryptocurrencies since last few years. Most of the concepts related to trading such as Trend Analysis and Fundamental Analysis were part of my professional course which made me interested in trading since I was student. Over the years I have been able to read trends accurately many times and bought cryptocurrencies at times immediately before upward trend. But one thing is still mystery to me, when to sell?

For example, around 10-12 days ago, I accurately predicted the upcoming rally in bitcoin price and long 0.50 BTC at the leverage of 25x @ $9150. Two days later, price rose to $9350. I already made 56% return on my investment in just 2 days. Now this is critical point where I always become blank. Once I made profit, I couldn't predict whether it is good to sell or hold for more profit. No matter what I do, I always make wrong choice. Actually I sold my futures at that day but imagine if I didn't sell, my investment would be up by 538%!! Imagine the profit of 538% in just 10 days!!

Same things happen opposite too. Lots of times, I keep holding coins due to FOMO and lose the chance of making profit. Suppose if I would still be holding my futures and didn't sell them today, price may fall again tomorrow and I may have lost the chance of making 538%.

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

[wxa7115]

It seems you can read the markets well enough, that is a great start, now what you need is a money management strategy, basically you need a system that tells you when it is the time to get in or out of the market once you have taken a position, however you cannot really expect to always take the choice that completely maximizes your profits every single time, however if the system you implemented helped you get 400% out of a movement that produced 538% profits it would be better than what you are experiencing right now.

The only problem that I see is that for the most part a money management strategy will for the most part demand that you reduce your leverage, as 25x is simply too much and a single failure to read the market could destroy your account.

[The Cryptovator]

~snip~

WARNING: I will say this is just a scam attempt (it's my opinion from my personal experience). I have seen a story almost a year ago that someone skipped with trader's funds. First, he had gained trust from traders and when he had accumulated a huge amount then simply skip and was told his wallet has been hacked. That's the reason why I don't trust who offers such a service. Especially such as a post from a newbie account is more suspicious.

[cabron]

Exiting is just the hardest to find. There might not even be a perfect exit unless you just try to exit while the Oscillatory momentum and RSI pointed up like its the ATH already. ITs the same thing you can do with upcoming rally, you know when it might happen but get into the right time where the bottom price is also hard for timing. I don't know some other people but this is base on my experience.

To make it profitable just exit while you profit. Some traders already call it greed when you expect the price to go way high. You can find another entry point soon when you exit while you profit.

[Twentyonepaylots]

~snip~

WARNING: I will say this is just a scam attempt (it's my opinion from my personal experience). I have seen a story almost a year ago that someone skipped with trader's funds. First, he had gained trust from traders and when he had accumulated a huge amount then simply skip and was told his wallet has been hacked. That's the reason why I don't trust who offers such a service. Especially such as a post from a newbie account is more suspicious.

That " ask him to help you " but that was just him lol poor being, go away with that poor shitty scam.

Good thing for you, you are very well equipped with knowledge that you can use in trading. And since you are experienced in trading, coz you said you are from trading stocks, I'm sure you are very aware of the terminologies and techniques in trading, and since crypto trading is easier than stock trading it's not surprising at all that you are doing good and have a very huge profit. Futures trading is risky though in lowest leverage, so you better watch out for this, don't be complacent.

[milewilda]

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

This is actually a hard question and its always been like this yet we know the nature of trading or part of it is price unpredictability and its part of the risk.No one does  have  the crystal ball to know on what would be the best time for you to sell because  each market price movements is not determined and it all depends on demand and supply.Therefore, these factors alone will really make you think that you might be either on the peak or in the bottom and when your instincts do tell you to sell then you would gonna probably sell of that time but due to circumstances just like for example on what happened on btc price then its really unexpected.
Its been tanking for how many months and suddenly it rose up to 11k+ atm which no one able to see it coming.

[Wexnident]

It's highly dependent on you yourself tbh, since we really aren't there to help you judge whether it's time to wait for more profit, or exit to avoid losing out on potential profit. In my case, I just leave it to that, when I profit, I avoid regretting over the potential profit I could've obtained. It's like poison tbh, that could pretty much lead you to make more wrong decisions due to remembering the fact that you lost one chance of making a huge profit. You already have all the necessary skills in trading, proven by the fact that you've traded over the years and were able to buy in at the correct times. Still, with how you're looking for the maximum profit when trading, that may prove detrimental on your progression, so I suggest avoiding it.

[cheezcarls]

There's no such thing as risk-free trading, and no guarantees that we will be getting profits as well due to the unpredictable conditions of the cryptocurrency market. It's pretty simple though, just simply buy low and sell high based on the TAs from the trading experts (especially the support and resistance level).

At the end of the day, it's still all about money and risk management that we really need to implement. Once you place the buy or sell order, you must understand the risks that you're taking because the market condition is unpredictable and it'll sudden change in any minute or so due to high volatility.

[TitanGEL]

I think the problem that you keep experiencing is because you do not have proper plan and strategy. You said that you predicted the price and it is the reason why you bought with 25x leverage but your plan is not enough because you do not set  stop loss levels and target profit. When I said target profit, you should have plan when to sell it where if the price reached this area or any specific; you will sell it immediately.

Target profit is important in plan because selling is a vital in trading. You can buy with confidence but you cannot sell it with dignity without proper plan and proper execution. If you do not like target profit then trailing stop is what you need where you will run the profits until there is a breakdown and also if the trend snaps.

[Findingnemo]

While investing on something we can't expect to sell them at perfect peak so accepting the profits what we made is better than worrying about the missed chances.Yes it might hurts but 56% profits is still huge and keep doing your analysis for future trades so if you get that small profits multiple times then you can actually win big compared with less risk.

[nelson4lov]

You're not doing anything wrong. That's just how trading works. Your best bet would be to get control of your emotions. What happens in trading is that, whenever you're in profit, both greed and fear starts setting in.

- Greed: you think it still has a lot of room to grow and don't want to leave money on the table.
- Fear: you have second thoughts that it might just go negative as volatility is on the high side and might easily flip to a loss
Trading isn't just about reading charts, doing technical analysis etc. Your emotions plays a vital role too.

[Oasisman]

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

This is actually a hard question and its always been like this yet we know the nature of trading or part of it is price unpredictability and its part of the risk.No one does  have  the crystal ball to know on what would be the best time for you to sell because  each market price movements is not determined and it all depends on demand and supply.Therefore, these factors alone will really make you think that you might be either on the peak or in the bottom and when your instincts do tell you to sell then you would gonna probably sell of that time but due to circumstances .

Definitely a hard question and a hard thing to execute specially when you're beginning to see profit, that will always excites you.
I can't also think of any better techniques other than technical and fundamental analysis to predict a better position before selling.
I'm not an expert trader like the OP, but I guess he's doing just fine as long as he sees profit more often than losses. Not being able to sell at the highest is indeed part of the risks and unpredictability of the crypto market.

just like for example on what happened on btc price then its really unexpected.
Its been tanking for how many months and suddenly it rose up to 11k+ atm which no one able to see it coming.

Good example.
Lucky are those who are able to sell at $11k level. That's the nature of trading.

[DevilSlayer]

It is all about trading system for me, if you do not have specific trading system then for sure you will have a hard time on determining your entry and exit points in the market. Determined what kind of trading system that you use, are you a type of a trader who are riding a trend or what we say a trend follower or are you a trade who is more on momentum who will buy when the price is strong and only sell when the price stops or it lose its current momentum.

[rodskee]

While investing on something we can't expect to sell them at perfect peak so accepting the profits what we made is better than worrying about the missed chances.

This mindset of having contentment in life is best being applied with
this market, it's best to gain
something from your trading practices than missing the opportunities
and regrets that you didn't act fast
and grab the opportunities.

Yes it might hurts but 56% profits is still huge and keep doing your analysis for future trades so if you get that small profits multiple times then you can actually win big compared with less risk.

It's up to how would you approach each opportunities for you, if you
can manage to gain in multiple ways
your benefits even it's small if continuous is still far better than nothing.

[Viscore]

It is really hard to tell what is an effective technique, trading signal to use in this particular scenario. I also often ask it myself and guess what? I don't listen to anyone but just my own market understanding by looking it to the current market chart versus last month's performance and the possible coming event. Because if we are listening to people's advice and tried to catch them, definitely, they are 50/50 and that it affects your decision instead of asking yourself and make a hard decision. In fact, if you got wrong, there is nothing to blame but just yourselves only.

[minairia3]

Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

Actually I understand your situation as I have experienced frustrations most of the time when my goal to earn profits does not met. But I am sharing with you my routine or at least what I do to keep my profits coming. I am fond using future trades, specifically on binance exchange. I am using other coin than bitcoin, eth and xrp cause their movement is really fast and could trigger an instant liquidation.

Im choosing other coins that recently added on their offered leverage trading and see on their channel or news if there is a good news or something big. Then I likely to put on long position, but I also rely on charts. Whether I set a short/long position and dont forget to put a SL/TP on my orders.

Regarding tokens or long term, Im simply dumping free coins from bounty and holding major coins such as btc. By this I could maximize my money and also save some but it does not guaranteed easy profit.

[Husires]

Technical analyzes are a mixture of strategies that you must follow to get the full profits, if your strategy is partial, you will lose.
If you can determine the trend, setting levels of the psychological market will be easy.
I wrote about Bitcoin Support and Resistance for dummies topic give you more info about it and you can use it to edit your strategies.

[gabbie2010]

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

You might need some knowledge in candlestick patterns as well as as price action coupled with some indicators that indicates oversold and overbought zones to determine when to take profits, from my own understating there are some candles patterns that you should watch out for that indicates exhaustion in a bullish or bearish trending market although these might not be accurate in some instances the price might experience a minor pullback before resuming the trend but works well google searching might be helpful in that regard.
More so you can also take profit bit by bit by setting a target while allowing the market to run.

[abel1337]

Let me rephrase my question again for better understanding: Which signals, what techniques, which movement do you consider while making selling decisions so that you always make best possible profit in the given scenario? If I chose right time to sell my futures, I would have made 10 times more profit.

You might need some knowledge in candlestick patterns as well as as price action coupled with some indicators that indicates oversold and overbought zones to determine when to take profits, from my own understating there are some candles patterns that you should watch out for that indicates exhaustion in a bullish or bearish trending market although these might not be accurate in some instances the price might experience a minor pullback before resuming the trend but works well google searching might be helpful in that regard.
More so you can also take profit bit by bit by setting a target while allowing the market to run.

Charts never lie and it is one of the most effective tools in trading and learning how to analyze every chart eg. Bar Chart, Volume Chart, Tick chart and etc will make you have an edge in trading. Also, experience does give you more confidence in trading because it can be possible that you are in the same situation that you have experienced before, It can help you win a trade.

To make it profitable just exit while you profit. Some traders already call it greed when you expect the price to go way high. You can find another entry point soon when you exit while you profit.

I can agree with this lol. Sometimes there's a temptation on selling it on the targeted price and hodling it to profit more on the asset you are trading. It's hard yeah but most of the time I follow the target price to gain the expected profit.

[dothebeats]

Candlesticks, bars, charts—all of those work but only up to a certain extent. While they convey information that are useful for your trading venture, I don’t really consider them enough to make your moves profitable. Most of the time I still look at other people’s prediction on what’s going to happen next. Then collect those information as much as I can and compare it with what i gathered so far. The reason I do this is to know whether anyone else beside me see something beyond what charts can offer, and if that’s the case, I proceed and do my move accordingly. I didn’t make much money from trading tbh, but I made enough to consider myself profitable and the venture worthwhile.