Traders always learn to leave when the ovation is loudest

[FanEagle]

I would say that the analogy really works but the fact that people can't leave if they want the ovation to continue. So, let's assume price was 30k right? We had that only a few months ago, and then recently it peaked at 67k right? Well, what happens if people start to leave at 40k? What happens if they leave at 50k? Or even 60k? We do not get a new ATH if that happens.

I get that we still dropped after ATH but we reached a new one and that is what matters. This is why I believe that we should not be leaving when it is the loudest, we should be leaving when we see others leaving. Like right now, if people leave, I understand that because we are not going up anymore, but do not leave when it is still going up.

[Hamphser]

I can hardly relate to this as I have been greedy to wait for more profits rather than being happy to win even if at least x2 or more. As a result, I lost a lot of money in my bad trading decisions in various coins and tokens. Profit is profit no matter if it’s just a little, so be happy with it. We can’t predict the market, so only trade what we can afford to lose.

Not all would really be having the same mindset thats why we do really end up on having different decisions on different conditions because not all will really be aiming on  getting bulk profits and much prefer on doing short term.

We do have different targets thats why we do have different plans of actions and just let those people do their job and work because we do have also
on our own,

Market is unpredictable and there's no way you could really able to predict on what would be happening next.

[livingfree]

I can hardly relate to this as I have been greedy to wait for more profits rather than being happy to win even if at least x2 or more. As a result, I lost a lot of money in my bad trading decisions in various coins and tokens. Profit is profit no matter if it’s just a little, so be happy with it. We can’t predict the market, so only trade what we can afford to lose.

If you've won your trade with a x2 gain, that's already a sign that you're a good trader.

Not all traders have been making x2 gains and the others that get that amount of gain, still waits for more and until the market crashes, they lose that 2x gain.

And sometimes it leads to negative, paper loss.

[nur rochid]

I can hardly relate to this as I have been greedy to wait for more profits rather than being happy to win even if at least x2 or more. As a result, I lost a lot of money in my bad trading decisions in various coins and tokens. Profit is profit no matter if it’s just a little, so be happy with it. We can’t predict the market, so only trade what we can afford to lose.

Not all would really be having the same mindset thats why we do really end up on having different decisions on different conditions because not all will really be aiming on  getting bulk profits and much prefer on doing short term.

We do have different targets thats why we do have different plans of actions and just let those people do their job and work because we do have also
on our own,

Market is unpredictable and there's no way you could really able to predict on what would be happening next.

believe in yourself and have your own strategy that if you are comfortable with us is the best choice. That way you can measure yourself and know mistakes and can analyze the future more carefully. that way, there will be a calm increase in the trading world, and of course you can feel disappointment and pleasure

[checkmatesir]

Mostly traders lose their money just because of their own mistakes, the mistake is that they always want to get more and more profit and so much of the greed leads them to loss, greed always leads to a loss which is always bad for a trader, so my opinion is always should be taken profit no matter how the profit is.

[dunfida]

Mostly traders lose their money just because of their own mistakes, the mistake is that they always want to get more and more profit and so much of the greed leads them to loss, greed always leads to a loss which is always bad for a trader, so my opinion is always should be taken profit no matter how the profit is.

Profit is profit and this is should traders or investors do have in mind because if you dont really secure out profits in short term then you would most likely

ending up on being greedy and waiting up for long term or simply the price had go to opposite side which would really be leaving you in regret.

It is really a common behavior into those people who cant really just control their emotion and soon theyll realize.

[sherenikaw]

celebrating something, especially trading is a matter of pride where we can achieve the goals we want in trading. for beginner traders like me it is difficult to determine when the market will crash or rise, so it is necessary to understand the crypto market first to be able to determine when it is right to buy and sell. It's okay, everything needs process and experience, the more experience you receive the more lessons that can be learned. it all just takes time.

[Zilon]

Most times the spike comes in unexpectedly even when the trade isn't meant to reverse a major news could just cause a big spike in the market and cause the trade to move in opposite direction. Taking the profit that has been made in the course of day trading is just the best as @Op said because it will save one from losing an account

[AakZaki]

Mostly traders lose their money just because of their own mistakes, the mistake is that they always want to get more and more profit and so much of the greed leads them to loss, greed always leads to a loss which is always bad for a trader, so my opinion is always should be taken profit no matter how the profit is.

Greed is indeed a trait that should really be avoided when trading. this is human nature. But when trading psychology is well trained and already has a lot of experience, the initial strategy remains the main goal to take profits.
Whatever benefits you get if you do it consistently, over time it will be more and more.
traders always learn how to enter and exit the market properly without losing.

[Lanatsa]

Mostly traders lose their money just because of their own mistakes, the mistake is that they always want to get more and more profit and so much of the greed leads them to loss, greed always leads to a loss which is always bad for a trader, so my opinion is always should be taken profit no matter how the profit is.

Greed is indeed a trait that should really be avoided when trading. this is human nature. But when trading psychology is well trained and already has a lot of experience, the initial strategy remains the main goal to take profits.
Whatever benefits you get if you do it consistently, over time it will be more and more.
traders always learn how to enter and exit the market properly without losing.

Its really a common trait of a human being and its part of our nature on being greedy because we do really have those passion in mind on getting more money or profits that's why it do results on committing those mistakes.

When you do gain up sufficient experience and skills then you would really able to get rid of this kind of behavior which would really make you
a more better trader/investor.

Making profits is our main priority or target but it wont really be simple as it sounds yet it would really be needing lots of factors.

[Rengga Jati]

It may relate to personal target of taking peofits and no greediness. Sometimes, people need to take profits if they feel that the target is enough than being too greedy but finally miss the chance. I am one of them that will trade based on targeted price and will start another trading again with the capital.
If the price still keeps increasing, let it be, we can still have chances to get anither profits again from other trading sets

[TheUltraElite]

Mostly traders lose their money just because of their own mistakes, the mistake is that they always want to get more and more profit and so much of the greed leads them to loss, greed always leads to a loss which is always bad for a trader, so my opinion is always should be taken profit no matter how the profit is.

Greed runs this market Sir!

Exit is what is being talked about here. Ovation being talked about here needs to be timed properly, otherwise you will lose the time to exit. Although this is just one part of the strategy and people have different strategies on how they exit or how they use the movements of the market to their own advantage, but this point can be kept in mind.

Newly interested traders often make the wrong exit or the wrong entry, most of the time the entry is the wrong point because of FOMO. Veteran stock market traders know this already and they would less likely be making this mistake here.

[sana54210]

If the price still keeps increasing, let it be, we can still have chances to get anither profits again from other trading sets

Yeah, what OP is mentioning is all about short term or day trading and when you are into long term trading then you never need to mind about your profit level hence you may keep on continuing what you are doing regardless of market directions. But the question here for many people is, when to book profits and exit for their long term holding.

In my opinion you never need to go for booking profiles for all your holding but you may go for partial profit booking which is up to the level of your needs. Book some profit and let all other remaining positions to grow along with market and then whenever you need then come again and book partially. This way you will be sailing along with market and this must be a good idea at least for bitcoin investments.

[otundebis]

Trading is an alone job, you are not going to have spectators to cheer you on. In other words, you are your own cheerleader, and you are absolutely responsible for your gain and your losses! I think an experienced trader should known when to take unrealised profits and cut the losses as well. In real trading scenario however, things are not always straight!

[Anguwa]

This is indeed the joy in trading if one can leave with profit as soon as the profit comes so as not to wait for price  dump. But sometimes we traders are always greed, and that greediness make us always loose the little profit we have, so we have to learn how to love happily.

[Dewi Aries]

If Op talk about don't be greed after we got big profit in day trading (correct me if i am wrong), it is really important to do. Happened in real life to 1 of my friend in future trading. After got $12000 profit in 1 day of daily trading, he keep use the money to trade and don't stop, ending with lose all. Greed or any other reason which made us to keep trade after get profit, almost same with emotion which made us to gain our profit back after huge losses. We should know how to avoid both of it.

[jostorres]

when you are at the top of your profit and you are not sure or certain of the next market spike or movement, instead you waiting for take profit you can exit the market and go with happiness with what you made already before price crash because most times when ovaction is laudest, some audience might start "criticizing and you get a wipe"  

What we need to realize is that there is a good amount of situation in crypto where people do not realize how much of a deep problem they are in financially outside of crypto, and they still find something to complain about crypto. I get that not everything could be 100% perfect here and I get that you may make some bad decisions and bad trades, that is all understandable to get upset, however what you do not understand is that crypto is not doing this to you, fiat is doing it.

When you are in fiat it is ALWAYS going down in value, your 100 bucks today is not 100 bucks 10 years ago, in 50 years 100 dollar worth dropped to 8.9 dollars, so you lost 90% profit in dollars in 50 years. Crypto may drop time to time but people do not realize that it also goes up, and goes up a lot, and all these "I sold at the wrong time" complaints makes no sense to me.

[Oilacris]

If Op talk about don't be greed after we got big profit in day trading (correct me if i am wrong), it is really important to do. Happened in real life to 1 of my friend in future trading. After got $12000 profit in 1 day of daily trading, he keep use the money to trade and don't stop, ending with lose all. Greed or any other reason which made us to keep trade after get profit, almost same with emotion which made us to gain our profit back after huge losses. We should know how to avoid both of it.

Having no plans into those profits you had made and keep minding off that you should trade more because you had make it big then this is something a kind of mindset which should really be avoided.

Im not saying that you shouldnt trade but you should be mindful on doing some sort of things which isnt limited to this specially if you had
made out some big profits then its not bad to consider out other options.

Futures trading? This is something similar to gambling.

[carrigan]

Good parable. Maybe it's more towards "don't be a greedy trader" this is more appropriate. Sometimes when they have bought a coin and show that the market is going up they don't sell the coin right away, they just wait for it to pump and pump. And unexpectedly the market just dumped and they were too late to sell coins. In the end, they had to wait for the pump market and made the same mistake several times due to their greed. This needs to be underlined in order to get full attention.

[lixer]

This is important to a day trader. I like to relate this to comedians. In comedy , I see that the comedians usually leave the stage when they have made a hit joke that cracked audience up real good and they just tell you there time is up and at this time the applause is higher the more. This leaves the comedian happy in his closest while the audience too enjoy the feel of their money.

In relation ton trading too , when you are at the top of your profit and you are not sure or certain of the next market spike or movement, instead you waiting for take profit you can exit the market and go with happiness with what you made already before price crash because most times when ovaction is laudest, some audience might start "criticizing and you get a wipe"  

A lot people are never going to leave because their desire to get more wouldn’t let them. There are so many people who would get a good amount of profit, but for the fact that the market is still increasing and being hyped, they would decide to keep on holding their coins and not take any profit at all, until the market would eventually come crashing and they end up losing the profit they have made.

Even if you can’t leave the market entirely, you should at least take some profit. That way, if the market should go down in any way at all, you would know that you still have gotten something that would call a profit. Better to have a half bread than have none.