[Edu] how to secure profit while trading

[promise444c5]

Today,I brought to us how we can secure profit while trading, many of us might have heard or known this but for the sake of those who are unaware you can secure your  profit while trading once you are already in profit by placing your SL above your market entry.
Not everybody are into trading in this our local board but for the sake traders in the house.

In my explanation,  I will be using meta trader as I'm used to it and I place my trade mostly on it.

How is this done??

I'm going to explain this step by step


The First approach is to Analyse your market very well with full effort to attain a profit when trade is being placed and make sure you have your TP and SL well placed because of other outcomes.


Example one of my placed trade with only SL actually.



Once you are already  in profit you can make use of the tool provided  to check for where you want your profit to be secured and you can calculate that according to the pips and your lots size.




Once done with the calculations, you can now shift your SL to the point you've calculated, however when the SL is being breached it will be triggered as profit.




with this you now have a profit securer

Note: While securing your profit  you might want to consider  a possible  retest from the market once hit your trade will be automatically closed unless  you have already attain your exact profit then,you can follow the market with your SL and you can do and undo this as many times as you want.

Abbr:

SL -Stop loss
TP - Take profit

Edited :  to only English.

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[Charles-Tim]

In crypto trading (on exchanges), there is nothing called pips or lots, both are used in forest trading.

I have been in trading for over three years. My advice for anyone is to trade with the amount of money that they can afford to lose. Trading is different and require skills, but it can be similar to gambling if comparing it with with losses.

[Bitco55]

Yeah, but OP you probably would have specified the type of trading... I was a little bit confused at first with the terms.
Anyways, thanks for the information though, but just for knowledge's sake, I wanted to ask;
 Are pips and lots like currency and assets, respectively, to be liquidated?

[promise444c5]

 Are pips and lots like currency and assets, respectively, to be liquidated?

Firstly,  PIP(price interest point ) is a unit used as measurement for change in value of  currency exchange. So you are right I'm talking about fiat currency. Usually  it's always in a small unit of 1/10⁴. So when you make a  price change of example GBP/USD  moves from 1.2003 to 1.2004  that's  one pip .



Lot size is the specific amouts you are willing to set you trade, so you profit and loss moves accordingto your lot size.

Now  coming back to wether your currency or asset could get liquidated,
Currency don't get liquidated in forex but you monetary asset which can be  a digital fiat or converted currency  placed  for trading or set for trading could get liquidated if you place a trade and you are running a loss which cannot meet up with your current fund deposited . This is mostly set according to brokers' to prevent them from running loss  from your trade, some broker might leave you little funds out of your deposit from the liquidation.

You can however  prevent this by

• placing SL and TP as have said
• Account leveraging/ funds leveraging :some brokers allow distinct account between deposits and trading funds so you can withdraw from deposits into trading funds little by little  aslo you can do the vice - versa by withdrawing profits into the  deposit account.

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[Mate2237]

Op the repetitions in the thread are too much and dis make the thread like children play. in trading, setting Stop Loss and Take Profit does not really work, though it works with small amount but when you trade with big amount then you will confirm that, that nonsense thing e no dey work. I used #300k to trave with Deriv which was recommended by me from a friend. And before I start the trading, I set everything both SL  and TP and when I started, everything was moving fine. I even got a profit of 15$ but the horizontal line had not reached the Take profit and before I knew, the line just shot up with the highest speedometer and pernitrate and pass the Take Profit line with a very big margin and all my money got lost.

So since that day I no gree use Deriv again and the way I see am no be only deriv app dey don dat kind thing but all the trading platforms dey do am.

[promise444c5]

Op the repetitions in the thread are too much and dis make the thread like children play. in trading, setting Stop Loss and Take Profit does not really work, though it works with small amount but when you trade with big amount then you will confirm that, that nonsense thing e no dey work. I used #300k to trave with Deriv which was recommended by me from a friend. And before I start the trading, I set everything both SL  and TP and when I started, everything was moving fine. I even got a profit of 15$ but the horizontal line had not reached the Take profit and before I knew, the line just shot up with the highest speedometer and pernitrate and pass the Take Profit line with a very big margin and all my money got lost.

So since that day I no gree use Deriv again and the way I see am no be only deriv app dey don dat kind thing but all the trading platforms dey do am.

I'm  not sure about this but believe setting tp and sl works depending on your analysis and the margin set. Probably you didn't calculate the margin according to your  trading funds so your account will get liquidated if you didn't  consider this and also you must take a lower lower lot size considering your capital  something around 10 to 5 or take to the lowest 1 depending on how volatilethe marketis .I  use deriv too  unless you are trading spikes on synthetic market then your SL good get shifted after a long spike sometimes.

You can check this topic I asked the same question as I was also baffled

 Link: https://bitcointalk.org/index.php?topic=5464673.msg62752695#msg62752695

Check it you can find the comments useful.

Also if you've knew this strategy you could at least secured $10 of your profit  

[Gozie51]

Once you are already  in profit you can make use of the tool provided  to check for where you want your profit to be secured and you can calculate that according to the pips and your lots size.

Op I been think say to begin look for how to calculate for the profit onto where you want put am when you don dey get profit go dey risky and difficult and the market fit change against the person. I don read say that trading thing dey some how and the speed like wey dem dey say volatility too fast and e fit go back na as the person dey calculate am. So e no get as the person fit just calculate everything thing first before him begin to enter the market so that if the profit don dey come the person fit begin to dey adjust am. Me I still believe say na difficult thing to do.

Edit: Yeah I forget tell you say you for pick one language and flow with am and guys go understand you and e go also make your post sharp.

OP Making the post in English and then translating it to Pidgin makes it impossible for me to understand or read properly.

[Igebotz]

OP Making the post in English and then translating it to Pidgin makes it impossible for me to understand or read properly. Because English is permitted, I'm not sure why you chose two languages instead of one to make the subject readable. I believe you misinterpreted my last comment on your previous post.

What has Pips got to do with crypto trading? Isn't that terms for fiat trading? (Forex)

Ps: Op don't post duplicate threads, if you must post in the local board after posting on the English board it must be in Pidgin.

Ps: hope you're ready to defend yourself when they start coming for you claiming that you're my alt. That heading is similar to mine and thats unique. Lol