Always take profit

[Xampeuu]

-snip-

Easy to say, hard to implement, it's the basic principle but nothing more than that. It's only theory, and it's hard to conduct in practice. I've traded for quite a while and was successful in most of my trades, managed to make a decent profit each time. However, most times can be unpredictable, and if you're not careful enough, you'll end up losing more in the process.

mistakes made, are something that can be corrected at a later time of course after we analyze it properly. there is nothing that we immediately know and can do well, of course it needs a process, as well as trading in crypto. as long as we continue to learn and correct any mistakes that may occur then we will be able to make a change in all actions and it takes a process and I agree with you that it takes a long time to learn and needs to be quite careful in all actions, because it can make us suffer a great loss.

Therefore, there are many benefits that we can learn in this forum, by studying other people's experiences, we try not to do the same thing, and if we make mistakes, we can quickly understand the mistakes that we did too, so that in this way it is hoped will speed up our process to master trading

[1714808182]

1714808182

[1714808182]

1714808182

[1714808182]

1714808182

[1714808182]

1714808182

[Victorycoin]

It is possible to make huge profits from trading but for this you need to know about trading after gaining experience by trading real with various bonuses in trading it is possible to earn a lot of profit by keeping money management, tech profit stop loss lot volume leverage, etc. properly and trading according to the rules if you want to get something without difficulty or very quickly, you may have to lose a lot. That is why we have to move slowly towards success.

[VanityWallets2015]

No I haven't consider taking profit that small, it still depends on how large your money on spot trading if you have $10 of course that $1-$5 profit is always a big percentage already but if you have an account with more than $1000 I don't think that small profit is very small. Especially I'm trading in leverage with around x10-15 multiplier.

[jossiel]

it's true that we are looking for profit, so it doesn't matter if you want a small profit or a big profit, but if it is many times the small result will be big. It depends on how we manage finances. What is feared is losing many times.

Small profits are fine.

As long as you're satisfied with that, you don't have to rush on getting bigger profits. Just go with the process and you'll enjoy to take profits.

When you sum all of those small profits, it's still profit.

[rima28]

Always take profit it is easy to say but difficult to do .but always profit  is not possible. because many problem for this profit.if a trader cultivate the habit of taking profit during trading he would have an upper hand over the market .but that will not work for all traders because they will have their own startegies and know what they do.

[Wicked17]

That really depend actually. The more capital you have, of course the higher chances of getting profit. For example if you spend like 1000 usd for trading, short term profit of 1 to 3 usd would be good enough for me. The only enemy there is your control, when we say profit as long as your not satisfied you will not be contented.

[Pamadar]

That really depend actually. The more capital you have, of course the higher chances of getting profit. For example if you spend like 1000 usd for trading, short term profit of 1 to 3 usd would be good enough for me. The only enemy there is your control, when we say profit as long as your not satisfied you will not be contented.

Your control will help you a lot when using a decent amount of capital,

If you know how to play well and you are always aiming for profits, even it's not big but you are content with it, that's better enough
instead of losing more with greed that controls you while still inside the market.
Keep your goals and target as it is, taking profits always depends on how you enjoy green result than having negative because you lose
your control.

[gabbie2010]

Refusing to take profit has really ruined some traders, most times jumping into a trade isn't t the most important, our greed blinds us from seeing that a trade has made profit and that we should leave the trade, instead we keep chasing more profits. Just like holding a gold and keep picking stones. As a good trader we are supposed to trade with target and when our target hit we exit trade, to be a successful trader greed shouldn't be part of us.

Several times I missed the opportunity to get profit, because I was delaying to take profit, because I think the price of the coins can still go higher.
It turned out that unexpectedly the price suddenly dumped, and that's because I'm too greedy to get a bigger profit. I agree we have to trade according
to the plan we have set from the start, this means that if the coins we have bought reach the sell target we want, immediately sell the coins.
So that we don't lose the opportunity to get profit, we really have to be disciplined when trading.

This is one of the big challenge that had affected my trading journey, that is not taking profits appropriately, I had on different occasion due to greediness lost considerable amount of profits that ought to have been taken by me, nevertheless I allowed the trade to run, unfortunately the price reverses and ended up in a loss, the fact that cryptocurrencies are very volatile in their price movement is always hunting inexperience traders, however I am trying to adjust my trading plan to take profit at a fixed target irrespective of whether the price will continue to trend bullish or bearish once profit is taken I quit and wait for another opportunity next time this I plan to judiciously implement in my trading to avoid those avoidable mistakes.

[DibiaVxosis]

"Always take profit" is pretty much the exact opposite advice any rich person will give you.  Whether you talk to Warren Buffett or Michael Saylor, they will both tell you the way to wealth is to buy good assets and never sell them.  If you need money you borrow against your good assets (as both did by selling shares in publicly traded companies).  Always taking profit sounds like a trader's desperate attempt to capture some gains after suffering many losses.  In that scenario, the real winner is the exchange taking your money each time you make a trade.

Well I never taught of this, but honestly this is a sad truth, the real gainers are the long term hodlers, being successful in crypto requires patience, but so bad this works better for investors and not traders, in trading we are taught to take profit while in profit, there are scalp trades which requires more time staying in the market to pull out profits daily, so this secretly encourages taking profit that's why is said the long term holding works better for investors.

[Kayum10029]

It is not right to assume that you will always make a profit. It is not uncommon for cryptocurrency to have profits as well as losses. Only those who are very experienced and have a very good idea about the market Only face less losses. So both profit and loss are applicable for cryptocurrency trading.

[Oilacris]

It is not right to assume that you will always make a profit. It is not uncommon for cryptocurrency to have profits as well as losses. Only those who are very experienced and have a very good idea about the market Only face less losses. So both profit and loss are applicable for cryptocurrency trading.

You should always consider the con's and no always minding about taking profits because this wont be always the case that you would really experience.Profitting is just a chance

and this is an opportunity that not everybody could experience because you should really need to be experienced and knowledgeable with this market or else you would really be having a hard time.

Take profit if you do have the chance and have some stop loss when the trend is opposing on what you do expecting. Rinse and repeat.

[rodskee]

I already learn my lesson from my previous mistakes of keeping waiting till the highest be reached as now ? i only put at least 20-40% in my altcoin holdings and 30-50% in my bitcoins , once that amount achieved depend on the coins i am holding? i will take all my funds and will wait again for discounted price or at least will buy different coins (Aside from my bitcoin of course because 45% of my funds allocated in bitcoin alone)
with this attitude i now starts earning good funds added to my holding each time the market pumps and not like in the past that i will hold for 1year minimum and not exceeding my capital for that long,
at least now each 3-6 months i know that some amount will be added to my folio and all will be doubled in a matter of months or year.

[Ridi]

Always take profit it is easy to say but difficult to do .but always profit  is not possible. because many problem for this profit.if a trader cultivate the habit of taking profit during trading he would have an upper hand over the market .but that will not work for all traders because they will have their own startegies and know what they do.

I agreed with your opinion always profit not possible it is easy to say .

[otundebis]

Taking profit in itself is an art!  Profit properly taking over a period of time could be very significant if you are day trader!  But for trader who is in for the medium to long term holding,  profit could become a nemesis, you may be stuck on trying to predict the ATH and prematurely sell when in actual fact,  the rise in value is just beginning!  I think the best approach is to set up appropriate valuation from get set go! And then stick by it or sell near it!

[Desmong]

Taking profits is part of the game which most traders that are day or swing traders don't really pay attention. A bird at hand is better than those ones in the forex. I always establish the mindset of taking my profits after each trade volume to prevent sudden loses. Since the market is never certain and things might always go the odd way if one stay longer in the market because of up and down volatility, it's better to be taking profits and trading proceeds during market volatility.

[Patigi]

I always take any form of profits I make either big or small, I don't mind making 1 to 2$ daily because I always believe is better than losing. I don't always mind waiting for time to make huge profits because coins are not stable are all dynamic they go up and also same time they can come down in term value. So it is better for me to always make the little I am  able to make in trading. Infact in term of investing I don't hold for too long period of time again because I am learn a lesson from squid coin. Just one day my coin just lose everything in value.

[Anguwa]

Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.

As a beginner in trading, such profits of 1-5$ gives us joy and hope to take the next step, also motivate us as beginners to have zeal and dedication towards trading. But losses in crypto trading always weaken the zeal and the activeness of the beginners, so profit taken is always good.

[boyptc]

As a beginner in trading, such profits of 1-5$ gives us joy and hope to take the next step, also motivate us as beginners to have zeal and dedication towards trading.

It's a good way to motivate you to trade more and be better. You have the idea what if you become better and you're having a larger fund to trade with.

That will make you possibly earn larger than the motivation where it all started. But whether it is small or large, you really have to take profits before a storm comes.

But losses in crypto trading always weaken the zeal and the activeness of the beginners, so profit taken is always good.

If they understand that it's normal in the market, that won't weaken them.

[TheUltraElite]

As a beginner in trading, such profits of 1-5$ gives us joy and hope to take the next step, also motivate us as beginners to have zeal and dedication towards trading. But losses in crypto trading always weaken the zeal and the activeness of the beginners, so profit taken is always good.

It is good hear but do note that you should not let small profits from a trades act like small doses of dopamine which make you addicted to it. Rather use it as a source of motivation for bigger profits.

Bad days will happen and in trading these are opportunities to introspect into possible mistakes and chances to rethink your strategy. While losses do have a mental trauma, you can stick to the positive side and learn from them.

For beginners paper trading should be the first thing to start with. You should not jump into the real market right away. Do it on paper, check how much profit you made of how effective your prediction was.

[tygeade]

It is good hear but do note that you should not let small profits from a trades act like small doses of dopamine which make you addicted to it. Rather use it as a source of motivation for bigger profits.

Bad days will happen and in trading these are opportunities to introspect into possible mistakes and chances to rethink your strategy. While losses do have a mental trauma, you can stick to the positive side and learn from them.

For beginners paper trading should be the first thing to start with. You should not jump into the real market right away. Do it on paper, check how much profit you made of how effective your prediction was.

Unfortunately not many people can see the benefits whenever the price drops. I get that there are a lot of people who do not understand why the price drops and focus on that part most of the time but the reality is that we are talking about something that is profitable in the long term so why it happened doesn't really matter to be fair.

So, if you focus on why it dropped or how it could recover or will it continue to drop and many other things like that, then you are going to end up losing a lot of money. What you should focus on is how you could make a profit from this down trend and if you could buy some more and wait as long as you have to, then you are going to profit. This is emotionally not that easy, watching your money drop like crazy is a very hard thing for many people and that means we need to realize it is going to be very difficult to watch but it will worth it in the end.