the significance of taking profit

[KaliLinux]

People are just too greedy, they always want more and more price surge to fill their greed taste which is impossible, if you think because we have many rich whales investing big on crypto means bear market isn't happening every again you have been fooled

I agree with you. Investors are becoming more greedy they sometimes forget that if it is not in your account as Fiat currency,it is not yours yet. Even if held as stable coin is still preferably to save the lost but we want to ride the wave all the way to the top that we don't even know yet.
This cannot be stressed enough, investors must have target when you are investing, there must be an exit plan and how you wish to be taking profits on your way up the market so that should there be a sudden drop in price which we have already witnessed in the past weeks, you would have been save cos you have already taken some profits along the way.

[tvplus006]

...No one can time it right. Luck plays a huge factor in this. The best advice would be diversify your strategy. Sell some portion of your portfolio to swing trade and get profits, and hold a bag if you think the project is good.

Very often, when you reach the price at which you wanted to sell the coin, the plans change and we set a new goal, after which we will sell the coins. And these expectations are interrupted by the bitcoin dump, after which the price of altcoins loses a third of its value. It is at such moments that we begin to regret that we did not sell the coins earlier, as planned. Conclusion: you need to fix the profit, and remember that there will definitely be a correction when you can buy back coins at a better price.

[pawanjain]

Maybe today some lost a lot of their portfolio, maybe from thousands of dollars to a hundred of dollars, this is why taking gains or profit are very important
since the start of 2021 the price of tokens have gone have breaking statistics, altcoins take an all-time high, and we are very happy all these things turn into a nightmare in a single day, almost all of my friends never touch their coin hoping they would reach another all-time high, the same thing that happens in 2017, now the market almost wipe all of our portfolios, what's the lesson of this, when there is a chance to take profit, take it, small or big, it's again, I saw some posting they earn millions, they are so happy, but after a day they regret it, why because they are so ambitious, and no contentment on what they have, always take gains, don't let it slip away or your regret it.

Obviously there's a significance of taking profits at the right time buying selling at peak and getting back in at the bottom.
But the thing is not everybody knows when to take the profits out. Secondly, many of them are investors and not traders.
They hold for the long term and forget and doesn't really need to worry about the short term fluctuations.

[Ridwan Fauzi]

Your purpose when you try to invest or trade in crypto currency is getting money not to be a collector of the coin. Yeah, it is something that should be understood by everyone. You have to set the target price and sell it because it will push you to gain another profit once you buy the coin again.

And this is my strategy when dealing with this situation, I mean when almost crypto currency were increasing a lot then there will be a situation for the price drop because taking profit by most investor. Simply, when the price just make a sideaway market after the bull run season then there will be a chance for the price drop first. This is what I see now and greatfully I can avoid to keep holding the coin because I have sold all of my portofolio when its price still high.

[livingfree]

If they don't have enough experience in the market just like a few years ago, they wouldn't take profit. But us, we've got enough experience and it's very important not to miss any single moment of taking profit.

The bull run won't stay forever and after this, we'll never know how much and how big the dip would be if the market enters the bear market. The mindset of aiming to have more is very attractive but could lead you to more losses if not careful to take profits.

[traderethereum]

Even if the portfolio decrease again, it will increase at the right time.
The crypto market now is down and we need to be patient and do not panic because you will see that this downtrend can give you a chance to buy back bitcoin or altcoin.
We need to prevent the greediness of wanting more profit because that can not always happen in the crypto market.
While you can see your portfolio increase, you can sell your coins for some amount and take profit of that or you can sell it at once and leave the market for a while and enjoy your profit.
If you do not take your profit, you will wait for more until the price can back to the high price.
We are now in 2021, which many altcoins can increase so high, and I think this downtrend is just temporary and the altcoin will have a chance to increase this year.

[mr.robot8]

in fact at the end of 2017 many have lost a lot of the value of their portfolios / wallets that's why we need to make the most of this new earning opportunity, this new bull phase of the market and leave no stone unturned to earn, it's time to make a profit and maximize the value of wallets

[matchi2011]

from here we need careful planning in taking advantage because when the correction and decline like now all will be too late. especially now that the market is uncertain and it is very difficult to predict corrections are happening everywhere so it is better to take a little profit and not be too greedy than to take risks.

If you are not willing to take the long wait in case you missed this opportunities, better to take profits and be happy that
you earned from this market.

It's tough to predict and it's very risky if you are uncertian with your decision making, always remember that small gain is
always good than losing portions or all your money from your greediness.

[kak uli]

Maybe today some lost a lot of their portfolio, maybe from thousands of dollars to a hundred of dollars, this is why taking gains or profit are very important
since the start of 2021 the price of tokens have gone have breaking statistics, altcoins take an all-time high, and we are very happy all these things turn into a nightmare in a single day, almost all of my friends never touch their coin hoping they would reach another all-time high, the same thing that happens in 2017, now the market almost wipe all of our portfolios, what's the lesson of this, when there is a chance to take profit, take it, small or big, it's again, I saw some posting they earn millions, they are so happy, but after a day they regret it, why because they are so ambitious, and no contentment on what they have, always take gains, don't let it slip away or your regret it.

for a trader who has long held the altcoin he is holding if at the time of Ath yesterday they did not release it they might experience depression when they are still monitoring the current market because the price conditions are decreasing. and that I also experienced it because I did not release the token I held, I held AOA and BTT tokens. I should have been able to release both of them while prices were still high a few weeks ago to make a big profit.

[jacafbiz]

I think we should understand difference between trading and Investing, if you are a trader, profit management is very important thing to learn and master because it can have a huge decision on your portfolio but if you believe we are still in bull market there is no need to rush to start taking profit because you are looking at a bigger time frame

[cafee_orange]

everyone wants to take big profits, but not necessarily by promoting passion in trading. in my opinion, to take advantage here is to make targets, don't expect big ones, at least have benefited.

[forexandcryptoauditor]

You are absolutely correct. This happened with me last week when btc was above 60k. I was holding very appreciative gain but since my investment was locked up for staking, i could not bag it. We should not be more ambitious which makes us sometime greedy, at the end we see that we have got nothing compared to what it was.

[fullhdpixel]

when there is a chance to take profit, take it, small or big, it's again, I saw some posting they earn millions, they are so happy, but after a day they regret it, why because they are so ambitious, and no contentment on what they have, always take gains, don't let it slip away or your regret it.

But, you're forgetting one important thing here; markets may bounce back at any time so that we will continue our profit level but you're talking like this is the end and there will be no return of market into bullish mode; or at least you're sounding like that to me. People who are missing profits by not booking may not need to regret when they are holding known coins like etehreum/BNB but people who are holding shitcoins and random tokens, might have booked when they were in profits; no exceptions.

So, it is all about what kind of coins/tokens you're holding; when you're believing into your due diligence then you never need to worry about because when you're holding good coins and tokens then definitely you will get bigger profits than before.

[BIT-BENDER]

Maybe today some lost a lot of their portfolio, maybe from thousands of dollars to a hundred of dollars, this is why taking gains or profit are very important
since the start of 2021 the price of tokens have gone have breaking statistics, altcoins take an all-time high, and we are very happy all these things turn into a nightmare in a single day, almost all of my friends never touch their coin hoping they would reach another all-time high, the same thing that happens in 2017, now the market almost wipe all of our portfolios, what's the lesson of this, when there is a chance to take profit, take it, small or big, it's again, I saw some posting they earn millions, they are so happy, but after a day they regret it, why because they are so ambitious, and no contentment on what they have, always take gains, don't let it slip away or your regret it.

Or May be those who didn't take their profits are long term traders, I think those who are regretting the market fall -either bitcoin or alt-coins- are short term traders who got greedy and maybe strong mind when the price was only going up.

For long term traders this is just one of those days, or maybe weeks or maybe months, and they have seen this sequence happen over again, some would have even expected it earlier so they can add more bitcoin/alt-coin to their portfolio, I think the regrets is only an individual mindset, and what you had planned before investing.

[bitgolden]

Even if the portfolio decrease again, it will increase at the right time.
The crypto market now is down and we need to be patient and do not panic because you will see that this downtrend can give you a chance to buy back bitcoin or altcoin.
We need to prevent the greediness of wanting more profit because that can not always happen in the crypto market.
While you can see your portfolio increase, you can sell your coins for some amount and take profit of that or you can sell it at once and leave the market for a while and enjoy your profit.
If you do not take your profit, you will wait for more until the price can back to the high price.
We are now in 2021, which many altcoins can increase so high, and I think this downtrend is just temporary and the altcoin will have a chance to increase this year.

I have been doing exactly that. I have realized that I could sell when it is going down and buy more at the bottom, normally I usually get scared of moves like that but I ended up doing much better and right now I am at a level where I bought back as well, I got out at the right time. It was a scary thing, but at the end of the day we are talking about something that would be very profitable who could say that they could say no to something like this? I feel lucky as well that I got back in at the right time.

I believe bitcoin is something that will go up constantly, sure there could be times when it falls but in the long run it will go up more and more. So if you buy now, and keep holding as long as possible, you will end up profiting for sure, maybe in a day, maybe in a week, maybe in a month or maybe even in a year but you will profit from it.

[kesmex]

everyone wants to take big profits, but not necessarily by promoting passion in trading. in my opinion, to take advantage here is to make targets, don't expect big ones, at least have benefited.

Of course everyone really wants to get a big advantage who doesn't want that,
and what you say is true and besides that it also takes time to get big profits,
what is clear is that it all requires more effort so don't underestimate it

[abel1337]

Maybe today some lost a lot of their portfolio, maybe from thousands of dollars to a hundred of dollars, this is why taking gains or profit are very important
since the start of 2021 the price of tokens have gone have breaking statistics, altcoins take an all-time high, and we are very happy all these things turn into a nightmare in a single day, almost all of my friends never touch their coin hoping they would reach another all-time high, the same thing that happens in 2017, now the market almost wipe all of our portfolios, what's the lesson of this, when there is a chance to take profit, take it, small or big, it's again, I saw some posting they earn millions, they are so happy, but after a day they regret it, why because they are so ambitious, and no contentment on what they have, always take gains, don't let it slip away or your regret it.

It's hard to tell when will the red market will come so I decided to do a sell my coins partially depending on the price points level I found out the best in taking profit, Most of the price points were big resistance. The result? I am very calm even if all of my coins were red, A correction is expected and a bounce back is anticipated. I've come to your friend's scenario before (2017) and I regretted it much because of the lost profits I made and now I am very satisfied with my decisions. Always take profit.

[dimonstration]

everyone wants to take big profits, but not necessarily by promoting passion in trading. in my opinion, to take advantage here is to make targets, don't expect big ones, at least have benefited.

I learned this during 2017 pump and 2018 dump where I didn't get some profit to enjoy the pump or to atleast have some to use in spending during that dump time, so this time in early January I do cash out some since its good to take SOME profit and enjoy the fruit of labor. Seeing some investment in actual life other than in portfolio  can be a motivation to strive more in doing good in crypto.

[ingiltere]

Thank you for bringing some awareness here. I know some people, especially new ones, think coin prices always go up but this is not the case. You can see market grow %50 in one month and puff, in one night you can see %30 correction. That means you lose all of your one month hodl profit gone in a couple of hours.
It's very important to stay calm and don't do panic buys or sells. I know that sounds easy but hard on practice. We all have to learn how to get investor discipline and don't get distracted too much by emotions.

[ecnalubma]

Sometimes hodlers forgot to take profits because they believe sky is the limit during bull season but when dump strikes it feels like its end of the world for some. But the dips really don’t matter if you’re a long term holder, it doesn’t hurt much when you see your portfolio down knowing that you already gained massive returns from years of holding.