Choosing the right time for profit

[danherbias07]

I think this is one of the reason I rarely trade now. The confusing part is what I hate and a lot of time emotions are blocking my sense of right decision. When you trade, you are suppose to just sell it off without having any regrets. Emotionless, you should not care if it will fall or not.
When you invest, you tend to get attached with the project and most likely you will have a difficult time to decide and sell thinking there is still a chance later on.
Now, I am just investing and if there is a chance to sell I'll do it if the price of each coin is too far from where it should be then buy it back at the lowest possible.
I guess the experience in trading is still there but with a different kind of attack in the market.

[kryptqnick]

I agree with the op that having a sell target is important, but if things are looking devastating, sometimes it's the right decision to sell and lose some money than not to sell and lose everything. I don't think a situation like this will happen to Bitcoin, but anything is possible. Also, there's a good chance that there will be no need to sell Bitcoin because there will be an opportunity to buy things and services with it directly, if we're talking about long-term hodling. That being said, there should be an idea on how much purchasing power is enough to start using Bitcoin (or selling for fiat) because if there's no limit, there's a big risk of never getting to use Bitcoin and living one's life as if Bitcoin never cost anything.

[sukmo]

It all takes a process to achieve success with cryptocurrency.
We learn from experience and are always looking for new knowledge in this forum.
Gaining profits and losses is one of the risks of cryptocurrency users.
But all can be seen from their initial intention to join cryptocurrencies.

[huu78]

Yes that's how crypto investing goes. Both traders and investors i think they will still take profits as long as they keep making it. What can make a loss is a target that is too big to pick it up. Then everything will be messed up because of the pressure of regret. This must have happened to all of us.

[TelolettOm]

If we are daily traders, we commonly have to know the movement of the price from the chart. And commonly everyone has set the target price of taking profit and also stop loss. Moreover the margin or future trading. They have set in maximal several percentages to take profits. And even the price goes higher again, it is no problem because they're looking for another profit again from another trading.
And for spot trading, it is safer. I personally always take profit is several targets by percentages. So, I will not sell 100% at once, but at least 50%-70% at first or selling to get my own capital and then the least to get higher prfoits.

[Wakate]

The profit taking between traders and investors is different, but in principle it must have the price target. Before we buy/sell in the market, we must have a careful plan so that we can stay in the market for a long time.
The market is very dynamic. No one in this world can accurately predict the direction of the market. If you are absolutely sure of the prospects of the portfolio you hold, then I don’t recommend selling everything. If you are not sure, it is best to take all profits and mix in a new portfolio that is still promising. The market will always go through a "bearish-sideways-bullish" cycle, so we need to learn to take profit/stop loss.

Learning how to trade is one thing and taking profits is another thing which can be imperfect at times because there is not always a best time to take profits. The market moves in a big zag manner which makes the market perfectly unpredictable with no time to determine what will happen next in the market.

Taking profits have to be a target base thing that is focus executed to take out already made profits that had been made in the market. Where taking profits, there are tools that traders uses to analyze the best time to take profits with the use of technical analysis.

It's better to take your profits when the market is in profit at any time than to leave the market with loses which is unwise. Greed had being an obstacle to traders when it comes to taking profits in the market which had affected many traders to end up there trades with loses.

[Rigon]

In fact, when you start trading in cryptocurrency, you have to consider different aspects. It has been seen that you have to give time in a way where you can consider different aspects. When you are trading Understands well then can survive in the market right now. And for those who don't know much about trading, what will happen next, and can't analyze the crypto market, they are cryptocurrencies Lost their profits on the trading platform.So while training you have to make the right decision and the right time to trade and analyze what time it is.

[Spack17]

It is really important for an investor to be aware of this. This prevents greed a lot also. For example, I set some price goals to sell the amount of my coins that I determined already. Otherwise, I know that greed could take the control of me and make me do really stupid things. Rather than waiting for more, acting according to a price goal is much safer I believe. I know that there are people who just make an investment and forget about it for even many years but I'm excluding them while talking about the situation.

[kurniawan05]

Almost all coins experience bullish and bearish times, if you believe the coin you are holding is good, keep it even in bearish conditions, if in doubt please sell when the price is good. We are often trapped by selling a low price for a good coin when buying it at a high price because we are worried that the price will go down even more.

[Botnake]

It is really important for an investor to be aware of this. This prevents greed a lot also. For example, I set some price goals to sell the amount of my coins that I determined already. Otherwise, I know that greed could take the control of me and make me do really stupid things. Rather than waiting for more, acting according to a price goal is much safer I believe. I know that there are people who just make an investment and forget about it for even many years but I'm excluding them while talking about the situation.

Once we enter into investments, atleast we have set already our goals and exactly the best time when to take profits. And since the market keeps on fluctuating so it will be a brilliant idea to set a target selling price before greed will control your plan and lose everything in the end.

For me, our main goal is to make profits that's why we're here to invest and so if we see already good profits that will satisfy us then grab the opportunity. The next day might never be a perfect time to gain your profits.

[Questat]

Almost all coins experience bullish and bearish times, if you believe the coin you are holding is good, keep it even in bearish conditions, if in doubt please sell when the price is good. We are often trapped by selling a low price for a good coin when buying it at a high price because we are worried that the price will go down even more.

That it comes into panic selling where most newbies had experienced such a thing. If they can manage to control their emotions, this will not happen to them. However, choosing the right time for profit is less possible to find especially when we are in this thing. To invest must consist of some patience. If we are thinking about instant returns from our investment, this certainly won't work.

[naikturun]

it might be hard to implement for people who have only traded a few times, so yes I just buy and hold it for a long time and then sell it according to my target time to hold the coin, and plan the next steps I will take. I don't get hung up on day trading because it just doesn't seem right for me.

[lienfaye]

The profit taking between traders and investors is different, but in principle it must have the price target. Before we buy/sell in the market, we must have a careful plan so that we can stay in the market for a long time.

Thats true, having a plan to follow is better, it will serve as your guide to not commit or turn to a wrong path. But first, take time to learn and be familiar with crypto because most of them are existing without utility, just pure hype and risky to invest in. The right timing to take profit depends on each of us, because sometimes we have high expectation to a particular coin or we have set a target price. For me if the price is in bullish then its time to take profit then buy back once there's a correction. But I also have few coins that I prefer to hold for long period, they're an established coins.

[michellee]

it might be hard to implement for people who have only traded a few times, so yes I just buy and hold it for a long time and then sell it according to my target time to hold the coin, and plan the next steps I will take. I don't get hung up on day trading because it just doesn't seem right for me.

Buying and holding it for a long time will be a good idea if you feel it is hard to know where the market will move. By doing that, you do not have to think seriously about how the market will move, as you only need to wait for the right time to sell your coins. If you finally see the price start to move to the higher price in the next weeks, you can prepare your coins to sell and before you do that, you need to know your target price to sell. I think that type of trading will be good for people who feel difficult to do day trading because they can minimize the risk of losing money.

[RiskySanchez]

The point is never to follow the market cycle because that's how crypto works which always makes us emotional and what we know is that the value of profit and loss in crypto is always dynamic, so decide when to leave the market to take profit before you cut loss. it's better to enter the market when it's calm before the market hype again.

[carrigan]

Very true, I agree with your opinion. don't just be casual, but you need to consider before you trade, even though the market is difficult to predict, at least you have the provisions and preparations. Stop loss is also important and should not be missed. In addition, you also need to see market developments as often as possible so as not to be left behind with good and profitable important moments.

[isaac_clarke22]

~

It's not that you're "sure" of the prospects, OP. Even if such project would yield you 8x or "to the moon" phrasing, which is an overhyped statement. Just don't throw all your money into it. What if you weren't able to sell everything?
If you are not sure, don't invest at it at all. You can't eliminate the risk, but you can manage it.

[tvplus006]

I agree with the op that having a sell target is important, but if things are looking devastating, sometimes it's the right decision to sell and lose some money than not to sell and lose everything. ...

This rule is carried out only by traders, investors usually continue to hold their coins regardless of which way the market is moving. But since most of our traders are also investors, they also try to close their positions in order to buy them back at a lower price.

[Kasabus]

The point is never to follow the market cycle because that's how crypto works which always makes us emotional and what we know is that the value of profit and loss in crypto is always dynamic, so decide when to leave the market to take profit before you cut loss. it's better to enter the market when it's calm before the market hype again.

Of course its better to take an entry when you see prices are in dips and you could actually buy all those potential coins you want. Now if we see dips are good opportunities to buy, then having its bullish prices too would mean a good time to make profits. But since we can't predict when will the market become bullish, then maybe setting a target goal price can be very helpful.

Crypto is not just hodling alone but we also have to take time for profits. And definitely its the main goal of all traders and investors so we should be able to know when will be the best time to make profits and use it for our own advantage.

[Dewi Aries]

The profit taking between traders and investors is different, but in principle it must have the price target. Before we buy/sell in the market, we must have a careful plan so that we can stay in the market for a long time.
The market is very dynamic. No one in this world can accurately predict the direction of the market. If you are absolutely sure of the prospects of the portfolio you hold, then I don’t recommend selling everything. If you are not sure, it is best to take all profits and mix in a new portfolio that is still promising. The market will always go through a "bearish-sideways-bullish" cycle, so we need to learn to take profit/stop loss.

Sometimes people not really aim for target price because they actually don't know or can't analyze in where price of coins that he already bought will go. Like me, i can't analyze and only bought bitcoin blindly, if increased then i will happy, but if dumped i will still hold and not much see market.