Don't lose your profit unnecessarily

[CryptocurencyKing]

~snipe~

One thing I know for sure is that, with the market, you cannot be always right. No matter the strategies you employ at working out the market to win with it and beat your previous strategies, a lot would still elude you.

Scalping entails you picking off the small profits available in the market and as much as that might be the best thing for a scalper or short term trader, it also cam introduce some emotion of greed into your trading.

Greed has been one reason why most persons fail in trading. You feel because, it read profit in your favour, its actually yours. Wel the truth is, its not and won't be until you take it. That's just the market playing out as it should and the profits are just a connotations of what could be until you claim it.
Where the problem comes is in when a trader tries to pick every opportunity and make profit out of every pip on the charts then, your gradually letting greed step in and that means danger.

Once it's appealing, just take profit and know that's actually profit without minding the once that are gone. They were never yours anyway!

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[Rruchi man]

Last week, i attended a funeral with a friend that i haven't seen in a while and i discovered that he was into buying cryptocurrencies, HODLing them and though he monitors them daily, he is just waiting endlessly for them to blow up (he has no take profit price in mind).

I'm saying this because recently there a was a pump in the meme coin "shiba" which was one of the altcoins he had purchased, he made very good profit but lost it because he was reluctant to convert to stable coin saying that he doesn't know what USDT was.

Don't lose your profit unnecessarily because of lack of knowledge and rigidity to conform to technical advice when issued by someone who is more knowledgeable in a field than you, learn.

[kawetsriyanto]

Feeling disappointed on ourselves when taking profit too fast, feeling disappointed because we are too greedy when taking profits and then the price keeps falling down. And feeling so proud and satisfied with whatever target of profits to take.
Well, those three feelings are very common happening in this crypto market.
For me, I always take profits based on some steps. I cannot take profits all in on time. I commonly will take profits by some % and another. It is in order to get higher profit but still has the profits at first.
However, based on previous experiences, I will not set high profits for my short-term or day trade, several percentage is enough. Except that I am holding them for a long-term period.

[Valak]

Newbie traders are usually traders who dare to hold a loss position for a long time in the hope that the price will reverse direction. In reality this kind of trading will destroy your account because you never set limits. No matter how sophisticated the trading strategy used, you must still determine the stop loss as early protection

[ene1980]

~
Lately therefore I take profit as it comes and this has worked for my trading experience. It is not scalping if you see your profit going down the pit.
 

It depends upon the project i invested, when it comes to Bitcoin, i have a target for the amount i wanted to trade and if that reaches my target then i will book my profit and then purchase them once again when there is a correction. When it comes to alts, especially hyped ones i will invest during the initial period and i would cash out completely and never think about purchasing that ever again.

[24Kt]

Feeling disappointed on ourselves when taking profit too fast, feeling disappointed because we are too greedy when taking profits and then the price keeps falling down. And feeling so proud and satisfied with whatever target of profits to take.
Well, those three feelings are very common happening in this crypto market.
For me, I always take profits based on some steps. I cannot take profits all in on time. I commonly will take profits by some % and another. It is in order to get higher profit but still has the profits at first.
However, based on previous experiences, I will not set high profits for my short-term or day trade, several percentage is enough. Except that I am holding them for a long-term period.

Discipline in decision making is a great way you have taken it. Trade must be controlled as much as possible on the basis of our control in accordance with the 5 targets that we have set. But as the situation and circumstances, I as a small trader still do not fully control the decision making. Everyone really needs to learn continuously and always prioritize profits at points that are considered safe.

You can only learn those trading tricks as you go along this process. You can't get it in one sitting because each coin has their own market performance depending on the current status of their developments. So normally, you can't compare the history of the coin to others and based your decision from that history because it may be totally different. If you are holding specific coins, you need to keep up with their progress as it will give you insights on what's about to happen with your holdings.

[Yamifoud]

As newbie I have not bothered about the profit that I have missed taking out just because that I believe another profit will fill up for me. I have been on this for some time but with my growing knowledge in the trading business, I now seeing it differently that the profit I didn't take was gone and another profit that got filled is a different profit entirely which means I may have been made more of profit in the account and lesser losses. Lately therefore I take profit as it comes and this has worked for my trading experience. It is not scalping if you see your profit going down the pit.

What way do you take your profit ?

Or you feel the regained profit is same profit that you lost 

I have made a simple spreadsheet to track my profit on a monthly basis and I sorted them where it comes. But base on the data that I have, it has to notice that I spend more and lose more than making a profit. Like if I got a $500 profit, I also lost almost twice. That is why all of the profits I have is just a record as I spend them actually. I had thought that rolling my profit is a good idea, yes, it might but unfortunately, my trading journey wasn't good enough to keep them, I'd lose. But this become helpful to me and I can easily determine where I got wrong and which thing I have to change or going to improve.

[andriarto]

~
Lately therefore I take profit as it comes and this has worked for my trading experience. It is not scalping if you see your profit going down the pit.
 

It depends upon the project i invested, when it comes to Bitcoin, i have a target for the amount i wanted to trade and if that reaches my target then i will book my profit and then purchase them once again when there is a correction. When it comes to alts, especially hyped ones i will invest during the initial period and i would cash out completely and never think about purchasing that ever again.

a hype project is a project that must require regular monitoring, because at any time there will be pumps and dumps, so we lose the moment. to buy it, indeed, if we believe in the analysis, the initial purchase will be better, and we are waiting for the pump to react. and after the dump happened, then I also thought it would be difficult to bounce back, so it's better to forget about it afterwards

[lienfaye]

We really cant tell if we made the right decision since the market can move unexpectedly after we take profit and leaving us with regrets of selling early. Thus having a plan and strategy on what coins to buy and for how long you'll hold can help in order to maximize your chance to not lose in that trade. Greed is the reason why some of us are losing their patience.

At this point, I opt to not sell if not really needed because I prefer to hold for long period since day trading didnt work best for me. If im contented with the possible profit that I can get if I sell, then I dont hesitate and just doing it.

[wajik-tempe]

We really cant tell if we made the right decision since the market can move unexpectedly after we take profit and leaving us with regrets of selling early. Thus having a plan and strategy on what coins to buy and for how long you'll hold can help in order to maximize your chance to not lose in that trade. Greed is the reason why some of us are losing their patience.

At this point, I opt to not sell if not really needed because I prefer to hold for long period since day trading didnt work best for me. If im contented with the possible profit that I can get if I sell, then I dont hesitate and just doing it.

Different person, different plan, different trading strategy. People who bought shiba at really first launch won't be billionaire if they sold it at just 10x or 100x. But at that time they sold it, they must be very proud about their decision but regrets it later when the price doing 20.000x growth.

So i think it depends on how people manage their assets, crypto market is so volatile so making a plan before the decision is a must. We cannot take a decision based on what we suddenly see.

Holding for a long run is still the best position to maximize profits but make sure choosing the right coins with a strong fundamental.

[kaseygriffin]

The process produces the results, and we want to make a profit here, the process of creating it is a big question for many people.
Myself, after many years in this field, I feel that there are many opportunities for everyone, but it also comes with many hidden things. What I say may be appropriate for me because of the process and results that have happened, but it may not be appropriate and attractive to others.
Personally, I like the fundamentals and the core of the market, so no matter how big the trends are, that's just what keeps the top things going. Maybe many people talk about the profit opportunity of BTC ETH will be difficult to reach, in fact we are turning ourselves into this market's game by chasing it too much , profit is the priority, but it also needs to be balanced with the possible risks.

[Peanutswar]

It depends on whats your ideal profit regarding it. Some people hold their coins because it's not necessary to pull out this is the reason why make an investment only to extra money. Not all the time the market will gives us a good shot of profit, always try to see and hunt an ideal coin there are a lot of potential on it. Also regarding with the market trend, technical indicators and analysis this gives you a hint to get a profit and losing your assets.

[Dr.Osh]

As newbie I have not bothered about the profit that I have missed taking out just because that I believe another profit will fill up for me. I have been on this for some time but with my growing knowledge in the trading business, I now seeing it differently that the profit I didn't take was gone and another profit that got filled is a different profit entirely which means I may have been made more of profit in the account and lesser losses. Lately therefore I take profit as it comes and this has worked for my trading experience. It is not scalping if you see your profit going down the pit.

What way do you take your profit ?

Or you feel the regained profit is same profit that you lost 

when I hold a coin, and the price goes up, but I don't sell it, and the price goes down. I feel that I missed the opportunity, and got the loss. it makes me regret.
however, when the price went up again, I thought of it as another opportunity. however, it is ups and downs for people who hold coins for a certain period of time. sometimes when we see an opportunity and other opportunities in the future, we think again that if we really take advantage of all those opportunities, the benefits we get can be even greater.
Personally, I'm still doing the same thing as you, holding coins for a certain period of time with a target. even if the price goes up but has not reached the target, I will continue to hold it,.

[beerlover]

regarding with the market trend, technical indicators and analysis this gives you a hint to get a profit and losing your assets.

If we are good at technical analysis then we never need to lose those potential profits like how OP is concerning here. Only because of lack of accurate technical analysis, we are suffering by not able to compete against the market fluctuations. If our analysis are good and enables us to book profits at right times then we can easily ride on market swings which must be another level of trading performances to enjoy the maximum benefits for the same market fluctuations.

The best thing one should always do in trading is - cash your profits because loss is imminent at some point.

This might be true only on short term and in long run, you need to let your profits grow along with time which may be trailed with stoploss to cut earlier so that you may not be losing your capital as well. For long term trading of bitcoins, you do not need trailing soploss as far as I have experienced.

[Anguwa]

I am also new in trading, but at some point I get to think that once I have profit, I take it immediately because of the market fluctuation. Profit come as a result of some rise of price in the cryptocurrency coin been purchased, at the same time, if we are on profit due to some pump in the coin price, many people in profit will like to sell to claim their profits, at that time there will some price decrement which will also drop down my profit. That's why I take off my profit as soon as possible.

[Wexnident]

I don't actively wait for profits, nor do I regret losing out on what could've been. I instead look at what I could get after each action and so on. It's really hard to get out of that loop of "what if" once you start looking into it, so I try to not do it, at all. I take profits when I can (or when I want to) and that's it, I don't look back into what it could've been because the action's already been done, I don't want it to influence my future trades that much. It's really up to your strategy really on when you think you'd actually "profit" or not.

[Mauser]

What way do you take your profit ?

Or you feel the regained profit is same profit that you lost  

I agree with you that taking profits is important if we want to grow our portfolio. HODL is a viable strategy for crypto currencies, but if the outlook of a coin is not optimistic anymore than shifting our money into projects is important. For me there are a few things I try to consider before taking profit. The first one is if I need money in the near future. For any bigger expenditures I look at using fiat money or if necessary crypto money. When needing money I try to take profit in the coins where I made the most profit. But before I sell any crypto coins I also look at how profitable the coin might be in the future. Because if I take profit today, I try to avoid buying the coin back in a few weeks. Saving some transaction fees can sum up over time.

[carrigan]

The profit that I take usually has been calculated beforehand. In some trades, the profits obtained are not always the same, sometimes even from 10 to 5, this is not really a problem because I have calculated the minimum profit that can still be obtained at number 3. obtained so you can know whether a decrease in profits makes you lose or you still get a profit.But it's also a good idea to maintain the level of profit and even make it bigger.

[Alert31]

Taking profits in trading is depends on your strategy. For me taking 10% profit is better rather than sorry if the market don't goes in my plan. Also it depends on your coins that you trade. Many altcoins in in crypto market is just a hypecoins without real use case, so be careful and always don't be greedy.

[carlisle1]

The profit that I take usually has been calculated beforehand. In some trades, the profits obtained are not always the same, sometimes even from 10 to 5, this is not really a problem because I have calculated the minimum profit that can still be obtained at number 3. obtained so you can know whether a decrease in profits makes you lose or you still get a profit.But it's also a good idea to maintain the level of profit and even make it bigger.

Better to set your goals, a profit still a profit no matter how big or less it is,

Pointing the directions of your investment is really the important tool when you are dealing into this business, many failed due to different reasons. But the common reason from those who succeed is the mentality that profits is your main goal in this business.

Every traders have their differences in taking profits, but as long as you are really getting some portions out from your investment,

It's a great sign that you are really succeeding.