Your strategy in taking profit

[djmixen]

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?

I gained cryptocurrency through the day trade methods. And I depend to buy coins that are on top in the market of course.
Though doing day trading is not that easy as what everybody thinks about. I really need skills or understanding about it.
This was all based on my experienced only nothing else.

[1713953288]

1713953288

[wiss19]

Bitcoin has always been the main coin for me right from the time I came into this space. And for these stable coins, they are not something I have thought of for once, I know about them but I have not used them before.

The way I do my thing I don’t think making use of stable coins is of any use for me. And as for tax, where I live there are no laws yet, although there was an announcement made recently, but cryptocurrency is not something that’s fully recognized yet, though lots of people here are into it, but there are no laws on it and I have not paid tax for it before.

[DoublerHunter]

^ For me, there is two ways strategy of taking a profit. A short term and the long term of getting profit. The long term is just held your bitcoin and never think selling on it until your profit was there and in the short is doing trading which is a very risky part. They said that if you are willing to take profit at-risk you are also a good businessman. Just find a way where is comfortable to you of having profit.
Nevertheless, if you don't have skills in trading or lack of knowledge, I suggest you hold this in your cold wallet for a while.

[isaac_clarke22]

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. BTC. Welcome to Bitcointalk Forum.
2. USDT, but that would be my choice when I only day trade. I don't use it for extracting profits from my held BTCs.
3. Common Discipline. Don't invest or throw money when the taxes are burdening you. Focus on it.
4. I don't think I would be able to buy that much from my profits in crypto because it is just my side earnings in the end.
5. When speaking of any bears, I hear the hodl.

[semobo]

You can't make profits from stable coins, you should choose the volatile coins depends on how long you will take for your trade,if it is long term then you should go with Bitcoin like ones,for day trading you can go with trending shitcoin or just with bitcoin as well.

For tax purposes it depends on where you are from.

[Salauddin1994]

Yes it will usually depend on the country you live in if crypto is supported then there will be no problem in choosing coins each currency will become profitable but volatile currency is more profitable here due to the rise and fall of prices profits are made when the prices of currencies rise. But in order to make a profit you need to invest a small amount and learn the techniques of trading.

[Renampun]

You can't make profits from stable coins, you should choose the volatile coins depends on how long you will take for your trade,if it is long term then you should go with Bitcoin like ones,for day trading you can go with trending shitcoin or just with bitcoin as well.

actually, just Bitcoin is enough to make a big profit...
Bitcoin price movements are incredibly fast, if you can control yourself then Bitcoin trading will not hurt. for other coins, it seems that using HYPE can be profitable.

For tax purposes it depends on where you are from.

that's true because not all countries in the world impose taxes on crypto, my country is still free for cryptocurrencies.

[sarmrakib]

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?

I gained cryptocurrency through the day trade methods. And I depend to buy coins that are on top in the market of course.
Though doing day trading is not that easy as what everybody thinks about. I really need skills or understanding about it.
This was all based on my experienced only nothing else.

Yes you need to have huge experience to do day trading .Day trading is a tough way of trading you also need to have a healthy balance .It so risky as well if you lose you can lose all of your profit .I don't follow the day trading cause i don't have enough fund But i always stay on market to get my experience on high.

[Spaffin]

Today my feelings are most dominated by fatigue and to some extent disappointment. I would like a little peace of mind, but for this you need to find some projects that could provide constant passive income with good investments. But I cannot find projects that can be so trusted, and the nervous system does not allow trying to trade again.

[Akiko]

Today my feelings are most dominated by fatigue and to some extent disappointment. I would like a little peace of mind, but for this you need to find some projects that could provide constant passive income with good investments. But I cannot find projects that can be so trusted, and the nervous system does not allow trying to trade again.

Every project In crypto space is risky because it's still under  development and experiment even bitcoin..
There are many crypto currency that offer a good return in staking and any other kind of mining like masternode and liquidity mining. You can even invest your crypto in lending and earn annually interest of it how ever there is always risk involve which ever kind of investment you choose.

[semobo]

You can't make profits from stable coins, you should choose the volatile coins depends on how long you will take for your trade,if it is long term then you should go with Bitcoin like ones,for day trading you can go with trending shitcoin or just with bitcoin as well.

actually, just Bitcoin is enough to make a big profit...
Bitcoin price movements are incredibly fast, if you can control yourself then Bitcoin trading will not hurt. for other coins, it seems that using HYPE can be profitable.

For tax purposes it depends on where you are from.

that's true because not all countries in the world impose taxes on crypto, my country is still free for cryptocurrencies.

Bitcoin is also highly volatile coin but some altcoins can bump or dump 100% in less than 24 hours.So for someone who wants to make millions overnight and ready to take such risks are actually going with such altcoins.

[ScamViruS]

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. I am busy with trading Bitcoin Futures so I don't buy anything in the spot market.

2. It depends on the movement of the market. I don't always use stable coins. I will take the opportunity when I buy coins that will be profitable.

3. Since my crypto is in my private wallet, I am not paying tax now. If I have to pay tax in future, I will definitely pay.

4. Lambo is too expansive for me. This dream is impossible for me!

5. I will try to increase my trading skills. I need to learn lot more about crypto trading.

[Wawa2013]

It's not easy to take profit from crypto trading, so you have to really use the right strategy. I bought some of the top cryptos,
like Bitcoin, Ethereum, Litecoin, Ripple and Binance coin. And I buy all these coins gradually, then I will hold it until the price
goes up. When the price increases by 10%, I immediately took profit and saved the profit I got in stablecoins, I usually save in
USDT every profit I make. With this strategy, I have managed to collect a large enough profit. Indeed, I can't buy the lambo of
profit that I have accumulated for 3 years from crypto trading, but I can meet my daily needs at least from crypto trading.

[spike420211]

My strategy is to keep my finger on the pulse of the market virtually 24/7 when I am actively trading.

Two options.
Either I have a trading plan for each of the assets, which means I have placed stop losses and stop profits for each coin.
Either I have a global plan for the movement of the market trend as a whole, then I fix myself with my hands when the indicators I need work out.

[Kasabus]

It's not easy to take profit from crypto trading, so you have to really use the right strategy. I bought some of the top cryptos,
like Bitcoin, Ethereum, Litecoin, Ripple and Binance coin. And I buy all these coins gradually, then I will hold it until the price
goes up. When the price increases by 10%, I immediately took profit and saved the profit I got in stablecoins, I usually save in
USDT every profit I make. With this strategy, I have managed to collect a large enough profit. Indeed, I can't buy the lambo of
profit that I have accumulated for 3 years from crypto trading, but I can meet my daily needs at least from crypto trading.

Crypto trading cannot make us instantly rich but atleast we know we are meeting our basic needs because of crypto trading. I only trade mostly with bitcoin and some top altcoins in the market based on what i see on the chart. And if the market does not seem to be good in trading, i also prefer to just buy at its dip and hold them until the market turns into bullish.

[TheUltraElite]

Yes it will usually depend on the country you live in if crypto is supported then there will be no problem in choosing coins each currency will become profitable but volatile currency is more profitable here due to the rise and fall of prices profits are made when the prices of currencies rise.

A person living in a country where crypto is not available to be spent would actually reduce the amount of liquid crypto coming in there and give them a more tighter schedule on how to spend those coins. They may actually end up being long term hodlers. Hence I dont believe there is a link between taking profit and your country allowing crypto unless you are speaking of authorities forbidding trading or crypto.

But in order to make a profit you need to invest a small amount and learn the techniques of trading.

This is a vague statement to make. Amount if small may not always matter to be the reason. A big amount of money does reflect into a higher return percentage, because that is comparable to the risk taken. In many cases the trader need to add in money because of changes in markets and depending on strategy.

[MCDev]

1. What coin are you taking your profit?

I love and believe in Bitcoin's future so in trading I try to increase my bitcoins.

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

I would convert 70% of my assets into stablecoins if I feel the market will adjust the price in a negative direction for the coin I am holding.

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?

Continue to accumulate and wait for the price to rise.

[so98nn]

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

I would convert 70% of my assets into stablecoins if I feel the market will adjust the price in a negative direction for the coin I am holding.

This is completely true. Stable coin is more or less safe house in the field of crypto game. Whenever you feel your covers gonna blow up in the trading or in any other coin where you have invested heavily then it's better to take refuge in stable coin form.

They don't give you profits but they give protection from loosing your money in the long run. The only concern is you better choose the platform and stable coin very wisely. Good point it is.

[jostorres]

If you are not sure about what to do when you are in profit at that moment, just cash out and wait for another opportunity, there is really no way of knowing how high a coins price could go or not, which means the best case would be to just sell and wait for another run.

However if you are at a loss, best idea would be to buy some more and drop your cost and that means you could sell for cheaper, for example you bought at 10k but it dropped to 6k and you bought same amount, average would be 8k, going from 6k to over 8k is easy but going from 6k to over 10k is harder. When you do these little things right you are going to be able to profit more and it would help you a ton as well. Trading is not hard, it is the talent of mastering small things like these in the basic level.

[wxa7115]

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.

At the end everything depends on your preferences and your abilities, while I agree that a trader concentrating themselves on the short term and trying to get small profits from each one of his trades can be a more profitable strategy, at the same time we need to remember that is the most difficult and intensive way to trade.

Not everyone can watch the markets all day and enter in it just at the right moment, for the most part many people trade on their free time and in that case a strategy that is not as profitable but that can be employed by such person seems like a better and easier option in my opinion.