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Author Topic: taking profit can be hard sometimes.  (Read 1545 times)
Maslate
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February 18, 2021, 01:36:36 PM
 #101

Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.
They look undecided because they don't have a plan. That is simple, they will somewhere and it might be the reason for their big losses.
Because for me, I'd never waste every opportunity I saw. Just selling it for at least a 5% incline, I'll surely take that. In fact, we can buy back again once it drops again.

It is all about the strategy we use and it is sometimes we need to sacrifice. We can't be a long-term holder always, we have sometimes to look at what is happening to the market and to our investment. If we are already in profiting, maybe we are not so hesitant to make a sell rather than to miss it.

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February 18, 2021, 01:49:02 PM
 #102

Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.
If a trader doesn't know how to handle their profits, I can only say that before starting work, they didn't define the target they wanted, they didn't even have a backup plan and when unexpected situations come to them, too many options confuse them and sometimes it will be a failure in investment, end up in loss as you say while their selves are making a profit. My advice is we should maintain certain goals, set stop losses with positive returns, this market does not have absolute profitability, sometimes we should accept little profits, instead of crying in failure

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February 18, 2021, 02:44:35 PM
 #103

It's hard because the plan always changes every time the market conditions change, especially during bullish conditions where many traders are delaying taking profits in search of bigger profits.

Traders without a profit plan always expect to sell at the top, but they buy and sell when they panic. Sometimes once in a while they manage to make big profits and it makes them satisfied, even though their percentage of losses is bigger than the small losses that are accumulated every day without realizing it.

By the way, this is an example of a situation of traders without a profit plan when they are in front of the monitor.  Grin

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February 18, 2021, 11:01:21 PM
 #104

Well, it should be hard always. I mean, most of the newbies in crypto only want an easy money mindset. Don't even want to know how crypto works and how they can benefit to it. That mindset is nothing but trash, not only in crypto, even in other aspects of life. For you to learn and master the skills you want, you should experience hardships for it.
Yes it is really hard to take profit because of we want to earn more and we are aiming for a larger profit but sometimes we're afraid that we might did not get  profit because market is volatile, that's why I am telling myself and all the people ask me, just tp when you are happy any profit is a profit as long you have more than your investment it is gain already, I don't want to be greedy it will be harmful for me and for my money.
All business or other sources of income, started in small profits only because that is when they grow and make some progress. Actually for me, greediness is a good thing as long as it is manageable and on disciplined manner.

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February 18, 2021, 11:08:25 PM
 #105

It's hard because the plan always changes every time the market conditions change, especially during bullish conditions where many traders are delaying taking profits in search of bigger profits.

Traders without a profit plan always expect to sell at the top, but they buy and sell when they panic. Sometimes once in a while they manage to make big profits and it makes them satisfied, even though their percentage of losses is bigger than the small losses that are accumulated every day without realizing it.

By the way, this is an example of a situation of traders without a profit plan when they are in front of the monitor.  Grin

Most of the traders panic because the money that they put on market is not a free money which not be used in the near time.
So, when the money is gonna used and the market not go as they plan, they will got panic even they have plan when they trade.
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February 18, 2021, 11:19:34 PM
 #106

Sometimes traders are in good profit but they could not decide whether to take profit or continue to hold it is just because the market is booming and mind says the market will rise more so we should wait some more time and while deciding this sometimes end up in a loss of profit so the target should be set in advance and when achieved should not be greedy for more. Apart from this one can sell that much amount that returns its principal amount of investment and rest can be hold for long.
If a trader doesn't know how to handle their profits, I can only say that before starting work, they didn't define the target they wanted, they didn't even have a backup plan and when unexpected situations come to them, too many options confuse them and sometimes it will be a failure in investment, end up in loss as you say while their selves are making a profit. My advice is we should maintain certain goals, set stop losses with positive returns, this market does not have absolute profitability, sometimes we should accept little profits, instead of crying in failure
if we have a plan, then stick to it. Some people find it hard to follow because they are emotionally affected by what they have heard around, what they thinking is negative. But rather they have to follow what is their plan, the quickest they change it. With this, it is no surprise that they will never reach what they aim for, they will go anywhere.

Anyway, we can't say that there is easy money in crypto and we should not have to think about it. Crypto investment filled with a lot of market challenges but if we are able to manage this thing, this could be just an easy game.

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Twentyonepaylots
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February 18, 2021, 11:19:54 PM
 #107

Seller's dilemma it is. Most experienced investors and traders are prone to this tyoe of issue because they know well how hard it is to see that their patience could've gotten them a little farther. Still, when this thing happens to me, I always say that it could be worse, and it's good that I never let myself be fomoed instead.
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February 19, 2021, 08:53:55 AM
 #108

But taking a profit from ETH is not  Grin
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February 20, 2021, 09:06:31 AM
 #109

There is this mistake I kept doing in the past.

When the price rise immediately, I will be waiting for a certain price and immediately take it out. The problem is that the investment I am making is not that high and I will be paying fees that are bigger than my profit. I didn't notice that those fees are eating my profit until my friend pointed it out to me. He taught me some tricks to save some of my funds to transaction fees.
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February 20, 2021, 10:18:04 AM
 #110

some traders and investors find it hard to take profit even after making good profit on investment. this can be as a result of aiming to sell at a desired price that is higher or hoping to hold the tokens for more longer time.  its not everyone that can do this patiently and some usually regret their actions. the secret is to make decision and stand by it and also be satisfied by little profits , take out your investments and some little profits and then leave the rest for long term.

kindly share your ideas that might be helpful to solving this issue.

If it wasn't difficult, everyone would invest and trade in the market. There are different profit strategies that depend on different factors.

It depends on whether you want to have a profit in the long run or in the short term. It depends on what capital you have. Your knowledge in the field of cryptocurrencies and market trading in general is also important.

It is difficult, so not everyone does it and many people are afraid of it.
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February 20, 2021, 10:39:47 AM
 #111

I think it's because the nature of most humans(trader and investor) is greedy and less satisfied with what has been achieved. the key is we must have a target price.

I really agree with you, therefore every time I make an investment, so I always set target for the profit I want and when the price has reached the target, then of course I will immediately sell my coin, because I don't want to take the risk of waiting for the price to rise higher than my target and it can make me lose the profit (the price go down).
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February 20, 2021, 10:47:38 AM
 #112

some traders and investors find it hard to take profit even after making good profit on investment. this can be as a result of aiming to sell at a desired price that is higher or hoping to hold the tokens for more longer time.  its not everyone that can do this patiently and some usually regret their actions. the secret is to make decision and stand by it and also be satisfied by little profits , take out your investments and some little profits and then leave the rest for long term.

kindly share your ideas that might be helpful to solving this issue.
It happens and i have faced the same even in last bull season, i just kept raising my target price as the market kept pumpong but later regretted for not taking out anything after market reversed. And i think most people face this situation and there are only few who take decision and take profits at the right time.

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February 20, 2021, 10:54:47 AM
 #113

some traders and investors find it hard to take profit even after making good profit on investment. this can be as a result of aiming to sell at a desired price that is higher or hoping to hold the tokens for more longer time.  its not everyone that can do this patiently and some usually regret their actions. the secret is to make decision and stand by it and also be satisfied by little profits , take out your investments and some little profits and then leave the rest for long term.

kindly share your ideas that might be helpful to solving this issue.

If it wasn't difficult, everyone would invest and trade in the market. There are different profit strategies that depend on different factors.
And depend on your Knowledge in marketing because even how you know those strategies the thing is do you have the Guts and
 ability to implement those?
Quote
It depends on whether you want to have a profit in the long run or in the short term. It depends on what capital you have. Your knowledge in the field of cryptocurrencies and market trading in general is also important.
Capital is on of the most important , because you must be ready for the fall and incase it happens , make sure that you can afford to keep
the coins in semi long term till the value increases again.
Quote
It is difficult, so not everyone does it and many people are afraid of it.
Actually i believe that Trading is not for everyone (Day Trading is what i mean) because we have seen many have tried but only few had survived that's why many of us are remaining in Holding instead of daytrade.

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February 20, 2021, 11:17:37 AM
 #114

This is all happening because of our gluttony in investing because we always expect to be bigger so it is difficult for us to make a profit then in this case we should be able to improve our quality in investing even though at the moment all coin prices are going up but we should be able to rely on our investment in some potential altcoins.
It's not all about greed for taking advantage. Some of the traders who just follow the Hype are stuck at a loss. they do not have the basic knowledge to be able to analyze market conditions. I myself now see many people who are trapped in losses even though currently the market is in a bullish condition. remember we have to trade based on technical and fundamental as a support. not based on Hype or cheap prices
Today, a lot of cryptocurrency users are at a loss, because, for example, everyone was waiting for the moment when Ethereum reaches $ 2,000 and today it has reached this mark, but the question of selling or waiting for the next maximum remains the most urgent again. According to many forecasts, Ethereum could reach not only $ 3,000 this year, but significantly higher.

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February 20, 2021, 01:08:57 PM
 #115

It's the same mentality I always had and that costs me alot in 2017 bull run, I saw my portfolio in big profits but I wasn't satisfied enough, I desired to have more and more until January 2018 when the almighty bloodbath began, now I'm a different man, I take profits and my life have changed since then, greediness is a big disease

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February 20, 2021, 01:21:17 PM
 #116

because some people don't always make decisions when going to trade so they keep waiting and following the direction of the market and don't have a target which is usually done by novice traders who expect as much profit as they can get. so my advice before trading maket your target for getting profit or when you lose,and use the limit to what percentage you can lose your total money.
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February 20, 2021, 02:05:00 PM
 #117

It's the same mentality I always had and that costs me alot in 2017 bull run, I saw my portfolio in big profits but I wasn't satisfied enough, I desired to have more and more until January 2018 when the almighty bloodbath began, now I'm a different man, I take profits and my life have changed since then, greediness is a big disease
Yes we're the same mate, I remember I got more than 1btc and that is equivalent to more than a million here in my country I think more or less 17kusd that time, and what I did is I wait for it ro pump more and then suddenly I reliazed the market crash I lost more than half of it, but then it is just a memory now and I can't bring back that memory , what I can do now is to take profit if I am satisfied on it and already happy around x2 or x3 of my investment is enough for me.

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February 20, 2021, 02:11:51 PM
 #118

everyone has a different strategy ,but the secrets you say are very accurate. as we know that investing must have researched in advance about the coins you want to invest in, have a target, not be greedy and also not invest in one coin only.

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February 20, 2021, 03:18:22 PM
 #119

If taking profit can be so hard for you then you have a problem and that problem is complete greediness living inside you, you have to get rid of that greediness before you can prosper in this space, although greediness is not entirely bad it's just like using a strategy when investing or trading crypto, we are all here to make profit and that is the most important thing once you make enough profit do not hesitate to take profit because crypto won't keep rising forever

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February 20, 2021, 03:35:45 PM
 #120

It is different between Bitcoin and altcoins. I take some profit with altcoins too, but it is very difficult to find an optimum strategy. We can't stay for long in anything though, this is my opinion. I have made mistakes by not holding some altcoins for longer, as Cardano and BNB, however, I think the second mistake would be to rebuy at a price that is extreme. I selected these two altcoins just because I think the risk has reached the ceiling with both. They can rise more but how much and for how long, for what reasons exactly except speculation from traders? This is a bad decision to buy expecting something to keep rising forever without this asset having something fundamental like a userbase. BNB has the Binance userbase, but ask any big trader, is BNB required for any exchange? Why would an exchange need to have a native asset to burn for fees? This makes zero sense.
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