Your strategy in taking profit

[CryptopreneurBrainboss]

The price movement of the market these days are very uncertain especially if you don't have that much of experience in regards to predicting the price movement of the bitcoin market as every other coin responds to it movement.  When bitcoin rises altcoins follow and the case is the same the other way round. You might think bitcoin will be breaking the resistance level with its upward price movement then suddenly it crises down to its support level. With this in mind my profit strategy varies depending on the time of trade.

For example during the weekends I usually trade my coins against stablecoin and preferable secure my profits in stablecoin unlike within the weekdays where is trade by coins against other alts like ethereum and Binancecoin then secure my profits in bitcoin especially when the charts looks like a breakout or an upward price movement will be happening anytime soon.

Trading this couple of weeks has been more challenging then few weeks back when everything was green and the percentage profit were reading in high double digits unlike recently with the highs been just 20+ percentage gains. Back then all profits were secured in Bitcoin.

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[traderethereum]

Taking profit will differ with individual traders; base on period (long term and short term), coin type etc. I dont consider it to early to know the strategy to stay beyond the bull market and rather thrive through the bear.
 
1. What coin are you taking your profit?
 2. If stable coin, When do you plan to shift to it?
 3. What is the strategy to pay tax?
 4. Will your Lambo come before the parabolic market if your acquire certain profit?
 5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?

1. Bitcoin.
2. I will convert my bitcoin to a stable coin when bitcoin price can rise higher and I will wait for another downtrend of bitcoin price.
3. Paying tax? I am paying tax when I send a fiat or saving fiat in my bank account. And for hold or storing the coin, I don't have to pay the tax. But I pay the fee the transaction every time I trade.
4. Lambo car? I don't need that car. If I can make a big profit, I will not buy Lambo, but I will allocate that money for other things.
5. I plan to rebuy bitcoin and potential altcoin at a low price, and I will hold it for those years. But I will use some bitcoin to trade, just if I see there is a chance to make more profit.

[Ridwan Fauzi]

1. What coin are you taking your profit?

Since I only have small money to trade I just trade an altcoin which still has a low price but has potential, I mean the altcoin price will never dump buy its holder. Like Tron, seem like this coin is good since the ETH fee transaction getting high due to DeFi project, you at least pay 1 trx per every transaction that you made. So as, with $100 with 2 leverage, I can get $20 profit per day.  

5. If the cycle in the space is really 4-5 years, what is the plan to cater for the long period of bear market?

You can learn technical analyst by now, it really help you to still get profit although the bear come. You can choose future market to do that, so your trading is not one direction (buy and you get profit) only. This is what I do now, crypto currency market is in the downtrend and I still have a chance to gain profit like in uptrend market.

[Peanutswar]

Right now im just a beginner into trading, also there is no additional income and I recently lose my money on trading and the best thing I could do is to lay low.

1. What coin are you taking your profit?

Im using a pair of bitcoin and USD only because this is the most volatile coin among others.

2. If stable coin, When do you plan to shift to it?

There is no profile in stable coins if you are going just invest your funds to make it safe stable is a useful thing but in trading? I think it's not good.

3. What is the strategy to pay tax?

I want to share my strategy some of the exhcnage or trading platforms has a high transaction fee so to lessen those fees I convert my bitcoin again into altcoins, so what kind of coin? most of the time I'm using the ripple or xrp, because its just less than a dollar of tx fee.

[TheUltraElite]

You need to have those information before taking your next steps, having a good plans will bring good outcomes.

One does not have all that information at the beginning though. That does not hamper making a plan for the profit.

You just needed to lean with your knowledge, everything is achievable if you are really aiming for  good benefits, the basic principles of buying low and selling high still being practice by traders who continuously learning from this market.

Sorry but I had to be a Grammar nazi here

The current 10k USD price of bitcoin has not been able to cross to 11k USD though so I am guessing there is a resistance level at the top close to that mark. At this point buying low is also not an option but waiting it out would be better if you are having liquid cash at hand. You could like buy at the levels close to 10,000 but no guarantee that it wont drop below although the support level is strong.

Talking about stablecoins? Nope, not my thing. Have been watching them closely though but never seen them outperform bitcoin.

[Darkelf11]

~
  What coin are you taking your profit?
~

The coin that I am taking profit from is bitcoin. It takes long time because I am not trading bitcoin in a daily basis. It is very safe, and it is almost always sure that I will get positive roi if I hold it for long period of time. I always plan to exchange it to our local currency if there they don't have huge fees which is not good for me.

[Xxmodded]

I have several ways how to get much profit with cryptocurrency, I begin with potential coin and listing with many exchange market. Waiting when the moment some coin have lower price and never take risk invest and buy some coin have reach higher price because will be lost profit all. Remember always buy and invest with bigger coin have top market position like BNB, ETH, LTC or bigger other coin, I never give chance for shit coin to buy and invest because is not hold for long time and their project will be die just few weeks later.

[militiariko]

I do not think there can be a special strategy to taking profits from trade; i greatly doubt it, the best way to take profit from a trade is by taking profit. And if you insist on a strategy; then the question wil be "what is your trading strategy?" does it let you take profit easily? or you have to hope.

The simple process related to taking profits is easy, avoid greed and always take profit when you see it. But also, have a good trading strategy

[ololajulo]

I do not think there can be a special strategy to taking profits from trade; i greatly doubt it, the best way to take profit from a trade is by taking profit. And if you insist on a strategy; then the question wil be "what is your trading strategy?" does it let you take profit easily? or you have to hope.

The simple process related to taking profits is easy, avoid greed and always take profit when you see it. But also, have a good trading strategy

I feel the strategy would have been engaged now and this prompted the question on the type of coin to take profit. IMO taking profit early from altcoin with stable coin wont maximize the benefit from bull market from bitcoin and ethereum expected price feat. I feel the last bullrun hurt most Americans that didnt plan well on paying tax. It is better time to learn the needful from taking profit the better way.

[RealMalatesta]

I totally agree that if you are going to hold a coin it should be either bitcoin or at least etheruem, I do not see any reason to have any other coin honestly because they are not really that good. The high risk involved with the high earning potential makes them quick investments, if you want to get in nobody can stop you and you will do that anyway but when you get in at least try to not stay in it too long, try to get out as quickly as possible.

Right now I am involved with one and I am planning to get out in 3 months, not going to even reinvest neither, just going to cash it out and leave. If I get to the point I like before 3 months I will get out before, but if I don't, whatever I lost after 3 months I will cut losses and leave before it hurts it more.

[wxa7115]

I do not think there can be a special strategy to taking profits from trade; i greatly doubt it, the best way to take profit from a trade is by taking profit. And if you insist on a strategy; then the question wil be "what is your trading strategy?" does it let you take profit easily? or you have to hope.

The simple process related to taking profits is easy, avoid greed and always take profit when you see it. But also, have a good trading strategy

When it comes to taking profits from your trades there are basically only two schools, the first one is to have a fixed goal on your mind for each trade, like trying to make a profit of 1% on each of your trades and as soon as that is reached then you sell your coins immediately regardless of what the coin does from that point on, this is very popular among short term traders.

The other school comes from those that prefer to let their winners run and do not have a fixed profit margin on mind when they make their trades, however once the market moves a certain percentage against them then they will get out of their position, this is more common among long term traders and it can be a great way to make profits but it is not for those that lack patience.

[Lanatsa]

I do not think there can be a special strategy to taking profits from trade; i greatly doubt it, the best way to take profit from a trade is by taking profit. And if you insist on a strategy; then the question wil be "what is your trading strategy?" does it let you take profit easily? or you have to hope.

The simple process related to taking profits is easy, avoid greed and always take profit when you see it. But also, have a good trading strategy

When it comes to taking profits from your trades there are basically only two schools, the first one is to have a fixed goal on your mind for each trade, like trying to make a profit of 1% on each of your trades and as soon as that is reached then you sell your coins immediately regardless of what the coin does from that point on, this is very popular among short term traders.

The other school comes from those that prefer to let their winners run and do not have a fixed profit margin on mind when they make their trades, however once the market moves a certain percentage against them then they will get out of their position, this is more common among long term traders and it can be a great way to make profits but it is not for those that lack patience.

Small gains is much better compared if you do just aim for big percentage gain but on longer aspect.It will vary on how a certain trader would set up his goals but we do have the same goal which is to profit, it sounds easy but really hard to be attained when you are not really that efficient with trading.

Trading does involve lots of trials and error and with the mistakes that you do commit then you should really learn from it and with that we can really make out various ways or strategies on our own.

It will vary on each person and we do have our own ways but majority are really that too lazy and just want to have shortcuts in life.

[MCobian]

I always like topics like this regarding trading strategies, because usually I can get a lot of new strategies to be able to generate
profits from members of this forum. For now I trade mostly using popular coins such as Bitcoin, Ethereum and Litecoin. In the meantime
I like scalping strategies, but indeed we often have to monitor the movement of coins in the market. And also every profit I get from
trading, I always save it in stablecoins, usually I save it in USDT. Due to avoiding volatile prices, my assets value does not decrease when
the market falls, if i keep my coins in stablecoins.

[supine]

My strategy on taking profit I guess I always take it when I trade and leave my capital back into trading I don't pull out all of my money and let the capital roll again.
There are times that I would also add my profit to my capital to earn more I only take my profit when needed or when I believe that the crypto is already at the peak price and it would soon fall.

[Kong Hey Pakboy]

I usually hold most of my bitcoin and other cryptocurrencies, especially today, because I am having trouble paying high fees. My strategy in taking profit in trading is "buying low and selling high." I know it is the most common strategy to profit in trading. Hence it is the most effective way to earn and save money. I also sometimes convert some of my coins in a stable coin such as USDT when facing a bear market to avoid huge losses.

[Mr.sprin]

1. What coins did you profit from?
bitcoin investing costs a lot of money, if you have a little money you can buy altcoins which are still cheap. My advice is to buy ethereum coins, the space for losses is small and most likely you will make a profit, you can hold ethereum coins in the long run.

[piebeyb]

I often sell my bitcoins into stablecoins, I try to take good moments when the market is bearish and try to buy them again at a low price with the aim of multiplying my bitcoins, usually I keep them for the long term and don't take short-term profits unless there are good moments, usually I multiplying bitcoins for altcoin trading, so focusing on bitcoin trading is quite promising than holding others, but one of the other altcoins I hold is IDENA  

[Velvet78]

I made most of my money by buying bitcoin. Despite the fact that the country I live in has the highest taxation rates in the world, the government has not made any regulations for the bitcoin stock market so far. I hope they never think of making such regulations or rules. By the way, I never plan to buy a lambo. 

[Pamadar]

I made most of my money by buying bitcoin. Despite the fact that the country I live in has the highest taxation rates in the world, the government has not made any regulations for the bitcoin stock market so far.

By buying and storing bitcoin the chance of taking a good profit mostly happened with great timing and good patience.
Just keep yourself away from fuds and don't stop to learn fro time to time.

I hope they never think of making such regulations or rules. By the way, I never plan to buy a lambo. 

That's influenced the most, when government implement such rules it will take effects right after. Just be content with decent profits
than to expect and lose your money in the short run.

[Dorodha]

One of the ways to make a profit is to buy Bitcoin and sell it at a profit using various strategies. If we can make a profit by buying and selling Bitcoin we can say that we can do this if we are a little conscious but we must have knowledge about different things. If we don't have knowledge about more than one thing we will never be able to benefit from Bitcoin.