Best taking profit techniques to maximize gains out of the upcoming blow-off top

[The_honey_bager]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

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[jackg]

Previously, it looks to have been possible/a good idea to sell an ath that starts to stabalise before in this bull run and I think that still counts for something.

The final blow off peak, you're not going to be able to be very accurate at all. Just be happy with whatever profits you can pick up and see if you can keep moving your trailing take profit to just below resistance or sell when you're comfortable.

I think I watched the order books for about an hour in 2017 and they were quite impressive, I'd recommend not waiting until they look impressive to sell though (rises and drops of a few % in a few minutes).

[nelson4lov]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

My plan is to sell a % of my portfolio every time price makes a new high. The goal is to continously sell a bit of it every time a new all time high or even just a higher high is achieved. Anything sold is immediately converted to a stablecoin (most likely USDT) and hold. But the strategy doesn't work all the time. Still needs more research and experiments. For instance, I sold some BTC at $18K in 2020 thinking it would dump back to $14k similar to 2017 bull run but I was wrong. While I ended up with same amount of dollars, my portfolio value in BTC value was diminished to bare minimum as price broke $60K.

[Scripture]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

Always set your target price so you can know the answer to this one, if you prefer a profit for a least 10% - 20% then go for it, don’t be greedy waiting for more profit just trade accordingly and always commit on that, same thing for cutting your losses. The market is getting better now, start planning on what to do when we reach the top again.

[jrrsparkles]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

Sell when you see the profits or just hold until your price arrives because the goal of a trader is to make profits but trading depends on our needs and wants so it can be a long term or short term trading.

There is no 100% guaranteed strategy since it changes time to time and every seconds so only the trading becomes profitable with our skills and experience.

[Bitcoin_Arena]

On the spot market. I usually sell off my bags on known resistance levels like the recent one at $50K to 52K and buy back after the market has rebounded on a lower support level. Many expected a breakout including me but when the momentum dropped I realized it was time to exit and my instincts were spot on this time rounds.

My stop losses are usually somewhere slightly below a strong support level if a market dump catches me still holding the bags.

[blockman]

I'm not a day trader but as I sell in profits, I prefer that measurement in the amount of profit that I can get. I don't measure usually with % gains as that doesn't look high for me.
Although as I sell during profits, I'm making sure that I'm very well satisfied and won't be feeling bad if after selling, the price of bitcoin goes higher. As they say, profit is profit so take it.

[sheenshane]

The best taking profit technique is the stop-loss or has a target % of profit, let say if you're content with the 30-40% profit, then it's up to you if you will sell it off and then purchase again when the price is drop.  Sometimes I won't matter on the market condition, upon looking at my portfolio and there's a profit and that's good to cut is much better and then hold the rest.

Just be happy with whatever profits you can pick up and see if you can keep moving your trailing take profit to just below resistance or sell when you're comfortable.

This is what I am, just be happy with the profit you take and as much as possible don't be greedy enough to wait for more than 50% profit, though that's good and I think you need to wait for how many years before you will achieve.

[TheGreatPython]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I am not good at these techniques and if I am not wrong, by ATR you mean Average True Range. I have heard these terms in trading many times but never been able to implement them in actual trading myself.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Even I do the same. So basically if I have 1 BTC and the price is let's say $50k. I will sell 10% of my coins with a 10% increase and buy 10% with a dip. The numbers aren't always exactly, depends on the market confidence too. If I feel that the bull run is not going to stop anytime soon, then I may sell 5% instead of 10 when price hikes.

Anyway, what's your plan for the upcoming weeks and months? 

I have high expectations from the BTC price at the end of this year so waiting for that but also ready to buy/sell if the market crashes or goes beyond expectations.

[StanleyBoyle]

I can't judge the best position of take profit, but this period is always when the altcoins are dancing around, the whole market will start to trend downwards，
I think that when altcoins have been rising, the funds will run to altcoins. Bitcoin's rise will be resisted, and it will usher in a decline， These days, it is still a slow downward trend, and I am also buying in the past few days Enter.

[Ararbermas]

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

for me it's a good idea to gain quick profits so that despite of the situation at least there's a gains while market is in a correction mode, wherein instead of waiting for the to market to become fine because it will took some days again or perhaps months, we don't know on this situation, we need more results so while waiting probably its good idea to make quick profits.

[pawanjain]

According to my technical analysis, now is a good time to take profits by selling some coins and buy back later.
But while placing sell order instead of selling a % of my coins I sold them all. Now that I have sold them I am waiting for the market to dip a little so that I can buy them back.
But the price seems to have stabilised and not moving in either directions. I will wait for some time and monitor how the market behaves.
What do you guys think, will the market dip further ?

[tbct_mt2]

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

It is good to take profit and enjoy the bull run. You never know when the bull run ends and where is the top. Therefore if you only wait for the top, you will sell under the top when it is reached, and price crashes and corrects to lower highs.

I suggest to sell part of your coin to retrieve your initial capital and you can take profit with a few more part of your capital to enjoy the bull run as said. The last part, you can wait for the top.

[death69]

I just try to follow my money management plan and apply compound interest whenever I achieve a new milestone. I have already increased my fund from $200 to $20000. Now I want to turn my $500 to $500000. And remember that there is no One-trade. In order to be rich, a consecutive order of trade is needed to amass our portfolio

I mostly trade on BInance future (USD-M) which gives us more than 25x in leverage.

[tvplus006]

...Anyway, what's your plan for the upcoming weeks and months? 

The final decision will depend on which one. the price on the market is moving sideways. And if it is a bull market, then it is necessary to shift all the profit to the purchase of bitcoin and, accordingly, vice versa, in a bear market, the profit is fixed in stablecoins. Currently, I will buy BTC if the price drops even more from the current one.

[icopress]

The final decision will depend on which one. the price on the market is moving sideways. And if it is a bull market, then it is necessary to shift all the profit to the purchase of bitcoin and, accordingly, vice versa, in a bear market, the profit is fixed in stablecoins. Currently, I will buy BTC if the price drops even more from the current one.

Man, I haven't heard any news from you for a long time)) I'm just wondering what price range would be acceptable for you? Looking at the current situation and the Fear and Greed Index, I have the impression that very soon we will see a price of $36,000 per BTC. In addition, recently I read what seemed to me a couple of reasonable articles, which described the hypothetical behavior of Bitcoin and the reaction of the S&P 500 (or rather the opposite). But the bottom line was that the Stock Market and the S&P 500 are significantly overvalued, and if you look at the chart, it will be obvious that the market needs a strong correction.

[Silberman]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

My plan is simple, I am going to hold my coins, I know this is probably a very common statement but at the same time it is the safest strategy that we can use in the market and still see decent profits, trading is really hard and while a trailing stop loss can be a great way to let your winners run and obtain huge profits that way we need to remember that markets do not move linearly, so you also need a strategy to get back in the market if your trailing stop forces you to sell to soon.

[otundebis]

I have sold the top many times and to be honest,  it had been mere coincidence that I was able to do so.  But when you are trading actively,  you should not wait for concidence,  you should have plan of selling upward incrementally, so that you are not caught unaware when there is a sudden drop in price!  This technique will maximize gain and protect against your profit been eroded and your capital!

[Hamphser]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

This is where traders own way of strategies and decisions would vary because if someone do tells their ways then it wont guarantee that it would also work for you considering that there are several factors that could affect

someones decisioning on that particular point which means there are really differences on how it would be applied and also no one could ever know on whats  the peak of a particular bull run or some rally

but using up trailing stop isnt really that a bad idea on protecting your profits but of course not all would really be knowledgeable when it comes to this.

[teosanru]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

Catching a blow-off top can be defined using a simple mathematical function, the chances of catching an accurate top are directly proportional to the loss you are ready to take for it. For example, the simplest method is the trailing stop loss method where you set a trailing SL like say 2% below the current price and your position will be sold whenever market falls more than 2% from any high, this way you can fetch almost high with lesser risk, the most risky method is to wait for a bearish divergence in higher highs, no matter how many divergences you see, there still are good chances that price can break another high, but this way you can sell at extreme top without any loss

[SquallLeonhart]

I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 

The part about selling % based on the price changes is definitely something everyone should do, it is the correct way to invest. Of course, there are chances when people actually invest into something that is horrible and goes to zero, yes at the top that is a rare situation but BCH was nearly a second ranked coin for a while, even if not it was in top 10 for a long time, now it is 15th, which shows you that coins do go down in the list, and BSV?

That was top 10 when created and stayed in top 10 for a very long time, probably over a year, and now it is not even top 50. Aside from those type of situations, if you do exactly what you say, buy certain % when it drops and sell certain % it goes up then you will get to profit from that.

[tvplus006]

The final decision will depend on which one. the price on the market is moving sideways. And if it is a bull market, then it is necessary to shift all the profit to the purchase of bitcoin and, accordingly, vice versa, in a bear market, the profit is fixed in stablecoins. Currently, I will buy BTC if the price drops even more from the current one.

Man, I haven't heard any news from you for a long time)) I'm just wondering what price range would be acceptable for you? Looking at the current situation and the Fear and Greed Index, I have the impression that very soon we will see a price of $36,000 per BTC. In addition, recently I read what seemed to me a couple of reasonable articles, which described the hypothetical behavior of Bitcoin and the reaction of the S&P 500 (or rather the opposite). But the bottom line was that the Stock Market and the S&P 500 are significantly overvalued, and if you look at the chart, it will be obvious that the market needs a strong correction.

It is quite possible that the price will drop to 36 thousand dollars, but my opinion is that below 42,000 there will be no opportunity to buy back BTC in the current cycle. But at the moment, we should consider local prices for trading, in which the price of BTC will rise to 48 thousand dollars.

[Silberman]

I have sold the top many times and to be honest,  it had been mere coincidence that I was able to do so.  But when you are trading actively,  you should not wait for concidence,  you should have plan of selling upward incrementally, so that you are not caught unaware when there is a sudden drop in price!  This technique will maximize gain and protect against your profit been eroded and your capital!

And quite honestly this is the truth for the majority of those that sell at the top, after all if you see the indicators before the price begins to crash they indicate that the price could keep going up and there was a decent chance that was going to be the case, however we know that the higher the price of something goes and the more quickly this happens the greater the chances that we eventually see a crash, so people began to get nervous and some sold before the top, others did so after the top and only a few can do so at the top.

[icopress]

[...]

It seems to me that you are very optimistic, if only because I am used to the fact that if there is one breakdown of resistance, it is immediately followed by the next one, as they say in Russian "cлoвил oднo днo, лoви втopoe".In addition, the price of bitcoin in the past few days has been in a narrow range of $ 47,000- $ 48,000, which can be a precursor to either a peak or a collapse (but looking at a side candlestick, an uptrend seems unlikely). ^{[I hope I'm wrong]}

[palle11]

[...]

It seems to me that you are very optimistic, if only because I am used to the fact that if there is one breakdown of resistance, it is immediately followed by the next one, as they say in Russian "cлoвил oднo днo, лoви втopoe".In addition, the price of bitcoin in the past few days has been in a narrow range of $ 47,000- $ 48,000, which can be a precursor to either a peak or a collapse (but looking at a side candlestick, an uptrend seems unlikely). ^{[I hope I'm wrong]}

I don't think that uptrend is not unlikely when looking and analysing the same candle you refer to. This is what makes trading interesting. By the hour time and even towards move will show that the bull is preparing again to get us crossing $50k. The higher time like 4hours, weekly etc have the outlook for bull.

[tvplus006]

[...]

It seems to me that you are very optimistic, if only because I am used to the fact that if there is one breakdown of resistance, it is immediately followed by the next one, as they say in Russian "cлoвил oднo днo, лoви втopoe".In addition, the price of bitcoin in the past few days has been in a narrow range of $ 47,000- $ 48,000, which can be a precursor to either a peak or a collapse (but looking at a side candlestick, an uptrend seems unlikely). ^{[I hope I'm wrong]}

The first part of my forecast is fulfilled, the price of BTC has increased from 45 thousand dollars to 48k. Currently, I have a short open and I will carefully monitor the level from which a reversal may occur. But I still hope that we will not see the price for bitcoin below 42 thousand dollars.

[Tashana]

Taking profit is too difficult. A very powerful market analyst said that it takes two years to learn to buy and five years to learn to sell.
It is that avoiding in fear is a quick decision, but it is difficult to make a decision in the time of desire and greedy enjoyment.