Always take profit

[Wind_FURY]

It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.

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.

If you’re trading under-capitlaized, and take profit with a very small amount like $1.00 or $3.00 repeatedly, you will not profit enough money. You will actually LOSE money, because how much trading fees are you paying for repeatedly “taking profit” for $1.00 or $3.00?

[TheUltraElite]

It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.

Why so much of a challenge, just see the price if it has become bigger than buying price and sell at that time.

Have you considered taking profits of $1-3$ repeatedly throughout a trading session

Have you considered the average trading fee for selling on a possible profit of 1-3$? Chances are that the fee is higher than the profit.

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.

Though that sounds like a get-rich-quick person's mentality. If someone has a point for putting their money on a specific cryptocurrency, they are obviously looking for bigger gains and not 1-3$. Of course the 1-3$ profit might itself be a huge amount if the coin that you have not specified is a shitcoin that averages on a price in cents/shitcoin.

If you talking about bitcoin trading then this is a wrong method. For altcoins, I cant say because I dont deal with them.

[Wendy Simth]

You can rank price higher than time, that is, long-term investment, whose secret is to buy low and sell high, to invest regularly, hold for life and befriend time.
Or you can choose to rank time higher than price, namely, short-term trade. Its key point is to reduce transaction fees, pay attention to capital and position management, be disciplined in stop-profit and stop-loss and rival against human nature.

[harizen]

It's obvious that taking profits either thru day trading or short-term hold within the range of $1-$3 won't yield a good profit in the long run.

You also have to consider that you need to monitor your trading activity all day long to somehow get your daily target at best.

It's really a must to take as profits as possible but you can play with your strategy for there for a much higher target rather than secure a $1-$2 profit. A range of $20-$30 would do. If there's no such price movement on that range, test another level like $10 to $20. If still the same, then patience.

[bakasabo]

In Russian language there is such phrase as "rat race" which perfectly describes "taking $1-$3 daily profit". It is like doing lots of actions during a whole day just to take several dollar profit. I would not do it, because the time cost more than this several dollars.

You can throw a stone in me, saying 1 dollar is always a dollar and is better than nothing. I agree, but I would not take several dollar daily profit out. Instead, I would reinvest it. Because you can always get this couple of dollars from "solving captcha or micro tasks".

[MIner1448]

I completely agree with you, an experienced trader, always knows and understands when to take profits, many because of greed do not take profits and relying only on their instincts or emotions continue to trade with great risks, as a result, big minuses go away. Taking profit is one of the most effective strategies for making money for a trader.

[tvplus006]

...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...

This profit size is too small and it may not be covered by the exchange commission. Thus, you can get not a profit, but a loss. You definitely need to take into account the exchange commission, which depends on the amount of trade. Thus, from my experience, I see that the commission on my orders on the Binance exchanges is more than $20 for each order.

[Wind_FURY]

It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.

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.

If you’re trading under-capitlaized, and take profit with a very small amount like $1.00 or $3.00 repeatedly, you will not profit enough money. You will actually LOSE money, because how much trading fees are you paying for repeatedly “taking profit” for $1.00 or $3.00?

That should always be part of your system, knowing when to take profits after those fees, though it's hard to discipline yourself taking that small amount in each position that you take with your trading practices.

But if you do have good system and you mostly success from this strategy, better than nothing is that what they say 

If you’re sufficiently capitalized, and your net profit after losses is enough to trounce the trading fees, then do it. For me personally, I’m merely a pleb, and I’m also a bad trader, although I studied and researched about it when I was starting in Bitcoin.

[Hobo66]

2$-3$ is very small profit and i strongly believe that even a new user will not agree to stop the trade with only 2$ profit. Good news like new listing,new partnership,mainnet launch,Hard forke , these are some news which can increase the orice of token from 20% to 100% easily. 10% i think is minimum investor want profit.

[Kong Hey Pakboy]

2$-3$ is very small profit and i strongly believe that even a new user will not agree to stop the trade with only 2$ profit. Good news like new listing,new partnership,mainnet launch,Hard forke , these are some news which can increase the orice of token from 20% to 100% easily. 10% i think is minimum investor want profit.

Depends though, what if it's the last leg of the run and the incoming graph is steadily going down? I would probably go down and take that profit and just go back in the market when it's on the most absolute or assumed absolute bottom. But if it's not the case that I am talking about, then you are right that we shouldn't take that profit since it's not that much.

[cheezcarls]

It's easy to enter with good entry point but the challanging thing is taking profit before a retracement and most of the times this retracement could be a beginning of a new trend changing a winning trade to loss. And in situations where the trader fails to apply stop loss there could be chances of blowing off ones account. A profit taken is better than a loss made no matter how small accumulation of smalls makes a mighty bulk.

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.

Th is is exactly what I have been doing nowadays because all I wanted is to become happy and satisfied, and not being greedy. I have already learned it from my past mistakes where greed leads me to failure in profiting in most of the coins and tokens (especially shitcoins). I’ve lost a lot to be honest due to being greedy.

Right now I have a new habit. When it’s profit no matter small or big, I would go “TP” mode and now I am on the road of recovering some losses that I have in the past.

[Wind_FURY]

2$-3$ is very small profit and i strongly believe that even a new user will not agree to stop the trade with only 2$ profit. Good news like new listing,new partnership,mainnet launch,Hard forke , these are some news which can increase the orice of token from 20% to 100% easily. 10% i think is minimum investor want profit.

Depends though, what if it's the last leg of the run and the incoming graph is steadily going down? I would probably go down and take that profit and just go back in the market when it's on the most absolute or assumed absolute bottom. But if it's not the case that I am talking about, then you are right that we shouldn't take that profit since it's not that much.

OP has not accounted for trading fees, and losses from other trades. It’s also very simple and easy to look at a graph, and say that “this is what we should to do”, without actually accounting for everything. But only 10% of active traders are truly profitable in trading. That’s a fact.

[john_nautica]

Yes that's a good advice to take profit no matter how big or small it is but of course since you've talking about profit also to remember to do the same during losses, if you lose 3-5 it's time for you to stop. Remember to always consider a risk/reward ration whenever you are doing your trade.

[dataispower]

Same advice I give every young traders coming into the game to alway do, it is safer to fall back to stable coins you could acquire every buying point than waiting for a particular point entry from your last purchase. I do advise profit thefts.
Taking profit is awesome!!

[Kelvinid]

snipped~

Th is is exactly what I have been doing nowadays because all I wanted is to become happy and satisfied, and not being greedy. I have already learned it from my past mistakes where greed leads me to failure in profiting in most of the coins and tokens (especially shitcoins). I’ve lost a lot to be honest due to being greedy.

Right now I have a new habit. When it’s profit no matter small or big, I would go “TP” mode and now I am on the road of recovering some losses that I have in the past.

We learned somehow after having a bad experience and that's a thing we are supposed to do. Many were still too hard to correct themselves that is why they keep on losing and had no chances to succeed. Greediness might come to our minds and it wasn't a problem if we know our limitations and were able to control them. It only just getting worse if we never know how to manage it and IF we embrace that greed.

[ipanks]

2$-3$ is very small profit and i strongly believe that even a new user will not agree to stop the trade with only 2$ profit. Good news like new listing,new partnership,mainnet launch,Hard forke , these are some news which can increase the orice of token from 20% to 100% easily. 10% i think is minimum investor want profit.

Maybe if we use scalping trade, getting $2 as profit will be good as we can repeatedly trade with fluctuating of the price. But if the market is not moving significantly, I think taking profit for $2-$3 is good as you can search for another chance to make more profit. But every trader will have their own target profit that they want to reach. Maybe @OP is saying that for himself but we have different amounts of profit that we want to achieve.

[pragna]

For big traders and investors i think this is easy to gain profit 1-3$ from any token. But i think they did not think this little profit as they invested huge for batter profit. Yes you are right here that only for new investors can take a chance of it and i think they have to wait whole day in exchanges for spot profit as they have little experience in crypto. overall its good decision to think for profit always.

[Traderbtcc]

Knowing when to enter or trade is not as easy as you think it is, even with the right strategy you might still end up buying at the high price, taking profit is always kinda difficult since emotions are normally involved, you might find it hard to take profit cause you feel like the market might continue pumping and you might gain more if you still hold that position, taking a $1 profit isn't a great idea either, although I know it depends on the capital used for that trade, but taking $1 profit just doesn't seem right,

[raisajahan]

Market movement is not always remain same some times price of few currencies go up and sometimes go down but problem is that who have no good knowledge about bitcoin or crypto market thay always remain in loss situation. When price go up then they buy and when price of that currency go down they afraid and sell that currency by the way they make loss. So for those who make loss like that way take profit is a good solution for them because where market goes i don't care i just want to make certain profit from the market. So I think always take profit is applicable for those people.

[onecall123]

Market movement is not always remain same some times price of few currencies go up and sometimes go down but problem is that who have no good knowledge about bitcoin or crypto market thay always remain in loss situation. When price go up then they buy and when price of that currency go down they afraid and sell that currency by the way they make loss. So for those who make loss like that way take profit is a good solution for them because where market goes i don't care i just want to make certain profit from the market. So I think always take profit is applicable for those people.

That's depend how strong mentality you have belong. At the end of the day, it's your decision whether you choose to take loss or take profit. As far as I might be concerned, I really like to take out benefits. Assume you get a coin with a daily/weekly movement of 5/10% ups or down then trad it's lows and highs. You can easily gain a smart profit per trade and you can win big over time.