No one has gone broke taking profits, always take profits.

[$weetne$$]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

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[mk4]

The thing is, you can't apply that advice to every position. Some assets are meant to be held long-term, while some assets are meant to be shorter-term trades. But since you're saying this in the Trading Discussion section(which is more towards trades than investments), then sure.

[Oshosondy]

Do not mind your teacher if he or she is talking about trading cryptocurrencies. It is better to hold coins like bitcoin (not shit coin) and wait and be happy later after the price go up. If the price go down, you can wait until the price go up.

It is easy to say take profit but trading is not like that. You can open a position and not see profit at all for a while and some people will use the leverage that will cause their trading asset to get liquidated fast. Trading is more than just that, you have a lot to learn. See trading as risky as gambling than seeing it as taking profit.

[kojektea]

what your teacher said is very true, but you have to take action first when you start trading with bitcoin indirectly you will look at many other coins and suddenly the price rises, in this position you will feel jealous and want to move to buy other coins, what your teacher said is bitcoin trading but cannot be applied in other trades

[Lanatsa]

The thing is, you can't apply that advice to every position. Some assets are meant to be held long-term, while some assets are meant to be shorter-term trades. But since you're saying this in the Trading Discussion section, then sure.

Yes, this is true on which there are really that projects which are really that worth to be hold and there are ones which are really that good for short specially on trading up some meme coins or projects
which arent really that good when it comes to its overall use case and relevance. This is why it would really be that just depending on someones preference on which path they would really be planning to take.
This is why i do really make some partition when it comes to trading funds and to those coins which are really that meant to be hold up. When dealing up with degen and short term trades
then it would really be just that right that you should really be that taking profits even into those spot trades on which profit is profit.

Those profits that you do made then it would really be put up into those long term projects that you are holding. This is what im really that doing on which im really that
able to accumulate profits in my short term trades and those profits would really be put up into my long term holds. Rinse and repeat!

[ultrloa]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Yes actually that is actually what we need. Being greedy for thinking about more will just lead us to encounter such unwanted losses that's why for newbies they should not expect more especially if they don't know a lot yet on trading. Much better is they take their profit once they feel it and don't regret those decisions especially when you see the coin you already sold still pumping since we need to think about our profit gains and there will be next time for that and we should take profit for another round again.

Nothing wrong with holding and that actions has been done by experience trader who have strong belief that there are more from the coins they bough especially for bitcoin. It will be wrong if you hold a shitcoin and think about having it until it pumps then reach what bitcoin hit for to many years since for sure this is far to happen the would rather get higher chance to lose with that.

[MIner1448]

Certainly!!! Taking profits can be especially useful in volatile market conditions. When you fix it, you can save the achieved result and reduce risks in case of a possible trend change. The interference of emotions in the trading process often leads to unjustified decisions, and the ability to take profits helps to cope with this challenge.

[AicecreaME]

No, your teacher is wrong, don't listen to him.

Either he's just looking for someone who will do the same thing he did which he regrets until now or he just like to drill that kind of mindset in your brain. Holding for long term is much better than taking profits every single time you feel it's good to sell to get some profit, and I'm sure it is not that big. Don't waste the opportunity you got when you bought your Bitcoin in the lowest price just to apply your teacher's experience.

[hd49728]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading.

It is true but to take profit, you must be taught to cut loss and to exit your position if the market goes bad. Because in trading, with a trader, initial capital is most important. If you can not protect your initial capital, you will not be able to get profit and soon will get broken from trading.

With discipline to enter and exit the market, and with priority to defend initial capital, you are on a safe trading way to gain profit.

One of best weapons in trading.

[Davidvictorson]

Do not mind your teacher if he or she is talking about trading cryptocurrencies. It is better to hold coins like bitcoin (not shit coin) and wait and be happy later after the price go up. If the price go down, you can wait until the price go up.

From a personal perspective, consider taking profits selectively, prioritizing essential needs like medical emergencies or contributions to your favorite charity, if that aligns with your values..

Beside this, stick to the advice above, hold your bitcoin and take profit on your shitcoin. It would be illogical to take profit on bitcoin and then  converting the best money the world has ever seen into a weak fiat that you then need to immediately pay taxes on. Understand that bitcoin is hardest currency ever created.

If you want to follow the advice of your teacher, an alternative way to do it, is to take profit on your eth, xrp , cardano, stocks, Euros, Yen or Canadian dollars or US dollars and strategically invest it in bitcoin.

[carlfebz2]

Do not mind your teacher if he or she is talking about trading cryptocurrencies. It is better to hold coins like bitcoin (not shit coin) and wait and be happy later after the price go up. If the price go down, you can wait until the price go up.

From a personal perspective, consider taking profits selectively, prioritizing essential needs like medical emergencies or contributions to your favorite charity, if that aligns with your values..

Beside this, stick to the advice above, hold your bitcoin and take profit on your shitcoin. It would be illogical to take profit on bitcoin and then  converting the best money the world has ever seen into a weak fiat that you then need to immediately pay taxes on. Understand that bitcoin is hardest currency ever created.

If you want to follow the advice of your teacher, an alternative way to do it, is to take profit on your eth, xrp , cardano, stocks, Euros, Yen or Canadian dollars or US dollars and strategically invest it in bitcoin.

Charitable works or thinking about donating? This is something that 1% of the overall world population would really be doing and the rest would really be securing themselves on the money that they are making
and would really be that cherishing it out for themselves. As for taking profits then this should really be your main priority on which you would really be that having that assuring that you are really that making
money. No one has gone broke if you do really just know on how to secure profits and this is why it would really be that important that you should really know on when to take profits.
Dont make yourself that too greedy when it comes to asking for more profits.

Regret do really always be at the end and if you arent that careful then you would really be that missing out those opportunities on making money on which you should have made it out earlier.
There are really just those people who cant really be able to control themselves when it comes to money and risks management on which on the time that they are
seeing huge green candles then this is where greed do really kicks in and would really be that so hard to control.

[lombok]

Which perspective does this depend on? If the goal is trading, taking profit is an obligation and that is normal because trading is seeking profit. However, if the goal is holding or long-term investment, of course there is an achievement point or investment/holding target, where if the investment or holding target has been met then profits will be withdrawn.

In trading, profit is the most important, therefore taking profit is highly recommended. It would be best for the OP to understand this.

[Johnyz]

Professional trader will always have their target price and will not be fooled by any FOMO or FUD as they are more focus on their own analysis.
For long term holder of course this can only apply depends if their target profit already hit or they are still willing to hold for more.
The market is very unstable, you have to know your target so you can take advantage of your paper profit and turn it into real profit. Take profit once you're happy, and what ever the amount is, that is still a good profit.

[deathcode]

everyone has their plans for the assets they own. including to keep holding or selling it for a certain time when you get a profit.
Actually, the goal remains the same, profit. but those who trade, have to be observant to look for profits if they trade in a short time.
If you sell now and have made a profit, then it doesn't matter as long as you get the satisfaction you are targeting. and people who hold assets for the long term have their satisfaction.

[Assface16678]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Do you know what the best option is here? On a trading platform, create two different trading accounts. The first account is for storage, where you will put your initial capital for trading, and the second one is for trading. Simple, because you shouldn't put all your capital in one account. You might overuse your capital and not have enough liquidity in your accounts, so better allocate only the funds you need in a trade based on your analysis. Don't put your funds in one place; only then might they be affected, and from there you can keep the money you have earned through taking profit. I always use this strategy, and so far it is great because I will not use all of the liquidity in your account; it might be gone all. Know when to take profit and, of course, stop losing. It's not always a good or profitable trade in crypto trading, so you should always be ready.

[snuffman8]

Your teacher's advice makes sense. It's like securing wins as you go, not just dreaming about what could be. But hey, holding seems to have its fan club too. It's like this ongoing debate – trade vs. hodl. What's your take on it? And seriously, taking profits is like picking low-hanging fruit; it's right there, ready to be enjoyed. What's your strategy so far? Any cool wins or challenges you've faced in your trading journey?

[Hamphser]

everyone has their plans for the assets they own. including to keep holding or selling it for a certain time when you get a profit.
Actually, the goal remains the same, profit. but those who trade, have to be observant to look for profits if they trade in a short time.
If you sell now and have made a profit, then it doesn't matter as long as you get the satisfaction you are targeting. and people who hold assets for the long term have their satisfaction.

Very situational indeed on which there are those people who are really that liking on holding their coins for long term and there are ones who doesnt really like on doing such thing or simply making up some shorter
trades on which it would really be basing up on what kind of trader you are because not all would really be sharing up with the same idea that having in mind.Always take profit and this is something which is really that recommendable thing to have on because you wont really be having those regrets on the time that you have secured up profits even if those trading positions would go south.

This is the primary rule when it comes to investing or trading on which always secure out profits if you do see greens or gain.
Dont tend to look back with your missed opportunity because this is something that could really make yourself that stressful.

[Fivestar4everMVP]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

First, I did like you to understand the difference between investing  and trading, the two are not the same even though the terms are both used in the financial world.

Investing has three different terms which are

• short term
• medium term
• long term

All of this terms requires the investor to buy and hold a crypto asset for a specified period of time, or until a target price is reached or achieved.
In the nutshell, investing requires holding, which is why CZ of binance said, "if you can't hodl, you can't be rich".

Trading on the other hand is the act of buying low and selling high for profit, and the trading market are of different types as well,

• we have the spot market
• we have the futures market

There is also the derivative but the two I mentioned above are the major ones, if you are trading the spot market, you can easily become an investor since you can decide to hold a coin you bought and intended to sell it for profit, you can decide to hold such coin if the price goes below your entry price, and you don't want to sell it at a loss.
But in futures market, there is really no much room for keeping a position open for a long time, you get liquidated and all your money gone if the price of the coin goes against you, your chosen direction.

So, in trading, there isn't much room for holding most especially, it you are trading the futures market.

Though the ability to take profit is open to both traders and investors alike, it is always up to the investor whether to take profit or allow it compile and grow overtime.

[Issa56]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing.

When you are trading, nobody will say what you have done is wrong by taking profits. I think there is something you are getting wrong, you don’t really know the difference between trading and investment. If you are investing in bitcoin, people do recommend you hold it for the long term because they believe bitcoin is still kind of low and that in the future, bitcoin is going to go higher. That’s why people are recommended not to sell their bitcoin cheaply. If you are selling your bitcoin, then nobody is going to stop you from doing that, people are just giving advice, and you can’t be forced to hold.
 
If you are trading, then it’s better you take your profits. Your analysis might be wrong sometimes, so you won’t always hit your take profits. When you notice things are not really going well, then you can just cut your trade and take the little profits you have.

[Mahanton]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing.

When you are trading, nobody will say what you have done is wrong by taking profits. I think there is something you are getting wrong, you don’t really know the difference between trading and investment. If you are investing in bitcoin, people do recommend you hold it for the long term because they believe bitcoin is still kind of low and that in the future, bitcoin is going to go higher. That’s why people are recommended not to sell their bitcoin cheaply. If you are selling your bitcoin, then nobody is going to stop you from doing that, people are just giving advice, and you can’t be forced to hold.
 
If you are trading, then it’s better you take your profits. Your analysis might be wrong sometimes, so you won’t always hit your take profits. When you notice things are not really going well, then you can just cut your trade and take the little profits you have.

It would really just matter on your own self control on which we know that this is really that on personal based on which it would really be just that normal that you should really be that having those kind of
emotions along the way that you would be able to feel on that you could really be able to make more money if you've decided to have some holding. Yes, profit is profit and this is something that your main
priority on the time that you do deal up with trading on which this is really that indeed crucial for you to have that kind of target on which this is something that you would be needing to consider it first
on the time that you do step your foot into this market. Dont make yourself greedy and you should really be that getting contented on the things that you are dealing with.

This isnt a race or sprint on which you are really that hurrying up yourself on making profits but rather this is a sprint on which to those people who would really be that disciplined
enough on taking up their trades are the ones who could really be able to sustain in longer runs.

[Maslate]

Hodling is not a bad move either. It only gets bad if you intend to hold your coins forever without thinking of selling anymore. However, I agree on the part that one really needs to sell even if the profits are just small, as long as its profits. Because if you keep hodling your coins, you don’t hold guarantees that your coins will keep on rising its price, suddenly when it’s value drops so low then you lost already the chance to sell in profits. Hence, hold but sell at some point. Know that your main goal is to make some profits and take advantage on it, and not that you’re going to keep your coins for a lifetime.

[tvplus006]

...I got this advice and I want to share it with everyone, always take profits.

It's just wonderful that you shared the secret you got from your teacher here. But this secret is not a secret, as every trader knows about it and similar tips have been repeatedly voiced here. Perhaps your post would be more relevant in the "Beginners & Help" section, since there are many beginners who may not know this secret.

[Dzwaafu11]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade.

Trading can be good if you have the knowledge of trading and are using a good strategy to trade. However, don’t follow what your teacher said to you. That is not how trading works because you cannot be getting profit all the time in trading. Whatever expert you reach, losing is natural in trading. Although you can trade to earn bitcoin, if you really know how to trade, you can use some amount of money you can afford to lose in trading, and if luckily you get profit, you will just divert the money to bitcoin investment.

But for you to say you want to trade to earn bitcoin I believe it will not be easy for you because even if you get a gain from trading BTC, you will still use it in trading because you will be thinking that since you have gained from the first one, you will try the second time again, and then from there, if you don’t take your time and study it well, the market may go another way for you, which will make you lose all your bitcoin. But if you earn them from trading and then hold them for a long time, you will definitely be successful when the time comes because we are expecting a huge profit from bitcoin.

I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding.

Selling your investment money is not a bad idea at all; it is your wish and nobody can stop you from doing that. What the forum members emphasise is that you shouldn’t sell your bitcoin when you haven’t made any profit from it, or if you want to make a huge amount of profit from your bitcoin investment, you should hold it for a long period of time. However, don’t think of selling your bitcoin when you haven’t made any money on top of what you invested; that will be a terrible investment for you.

[mirakal]

It also depends on the potential of the coins we are trading. If we are seeing bigger profits in the next days or months, and we are not actually in a bad financial situation, then I don’t think selling just to make profits is advisable. Sometimes you also have to weigh things out, it’s advantages and it’s consequences so that you won’t be regretting later on.

I’m not against on selling your coins, but always know when to hold and when to sell. That way, you will be able to make a wise decision that you won’t dare to regret in the future.

[Vaculin]

everyone has their plans for the assets they own. including to keep holding or selling it for a certain time when you get a profit.
Actually, the goal remains the same, profit. but those who trade, have to be observant to look for profits if they trade in a short time.
If you sell now and have made a profit, then it doesn't matter as long as you get the satisfaction you are targeting. and people who hold assets for the long term have their satisfaction.

That’s right, it’s not hard to be in profits but the question is if you are really satisfied with your gained profits. Sometimes, we get FOMO because others are already selling for profits, that’s why we also sell so we won’t be left behind. That is certainly a wrong practice. If you are a good trader, you will always set a target price when to sell and make profits, and not easily fall on hype and FOMO. Otherwise, you will end up trading and miss big opportunities to be in high profits since you already sell even when the time is not the perfect time to sell.

[batang_bitcoin]

Your teacher is right, always take profits as no one has become broke doing that. What situation had made someone broke is when they just pass things and missed making the profits. That's why whenever you're trading, always prioritize to profit. There are good times to take it and there are times that you have to be patient, regardless of how long your wait is still at the end of it you need to take profit. Learn from your own experience if you ever missed a lot of opportunity of taking profits and use that as your motivation every time you trade.

[bluebit25]

know - understand - apply - create

Regardless of what someone says, don't rush to believe it, but check for yourself to see if it's really the way they are conveying it. I don't think OP's teacher stated a right/wrong point of view, and it's the OP's ability to apply it that matters, theory is just theory, practice more. There's any problem even sharing about the problem of criticizing the teacher's point of view, because each person's different interactions will yield different results.

In this case it can be applied correctly, and making a profit from an inexperienced person is a better outcome than taking a loss. But if you have contact and experience with the market, profits are not important, the plan you have determined needs to be achieved, not just a few percent, but it is the story of turning the initial investment into success a big profit, but there are obviously risks that need to be planned.

[jossiel]

I’m not against on selling your coins, but always know when to hold and when to sell. That way, you will be able to make a wise decision that you won’t dare to regret in the future.

That is one lesson I've learned. If you have to sell, do it and don't get any validations from the other people just because you haven't sold or you have sold already.

Know your needs and when the right time to sell because it is only you that can determine when you have to sell or not. But most likely if it's about taking profits, all of us need to have it.

Don't wait to a point of your life that you'll think about regretting that you haven't sold during the bull run even at least a bit of your holdings.

[wxa7115]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

I do not really agree, there are two different philosophies when it comes to every trade you make, the first one is to have a goal in mind before you make a trade, so for every dollar you risk, you want to earn a specific amount in return, this is called Reward to Risk ratio and it is a very common way to trade.

The second style is to let your winning trades to produce as much profits as they can, by keeping the asset as long as it is going up in price, both philosophies have their merits and you can use the one that fits your style the most, however taking profits just not to lose a trade is a mistake, as the reward does not really match the risk you took and your win rate is too low to profit from such trades, something that will cause you over the long term to go broke.

[nelson4lov]

Any trader or market participant that doesn't take profit especially when they're in a really good position to do so, doesn't, then it's most likely that they're greedy. The concept of talinfg profits have been an important habit in my investing and trading career so far. Back when ICOs were red hot, I did a couple of investments and some trades even without being well grounded in technical analysis, I still managed to make some profits. But it was short lived because I wasn't that big on the concept of taking profits and it came back to haunt me.

I learnt something that year: the market can give and it can also take more than it gave you.

[Mpamaegbu]

I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits.

Actually, you do a more honourable thing to the network when you sell than when you hodl. Hodling is good but buying or selling is better. Remember how Bitcoin didn't have any value until the first transaction with the two pizza thing happened? That's right. We only get to know the real value of any asset when buying or selling takes place. It's the same way with Bitcoin. However, it's important to know the right time to buy or sell. Anyone who's selling Bitcoin now should only do it to take profit and then rebuy. Don't just sell and exit the market. Bitcoin is bullish ATM.

My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding.

That's true. It doesn't become profit until it's taken off the table. Don't look at the screen and count it as profit if you haven't withdrawn it to a safe wallet or converted it to use. Your teacher is right on that one.

[adaseb]

Yeah I took some partial profits before the etf approval. Because when I heard that 95% of people think it’s going to be approved, I assumed it would get rejected. I was wrong here but the price acted like it got rejected.

I don’t think anyone sold when it launched. Many were expecting new ATH or at least $50K. The whales and institutions got out at the top while everybody else held and are sitting at a huge decline compared to selling at $49k pretty much.

Many people got greedy and this is why this happened.

[blckhawk]

There's also the reinvestment thing too, you can put your profit back into trading so you can generate more profit for yourself. I can't really attest to that adage that no one has gone broke but wouldn't you not be growing in terms of investing because you keep using the profits for other stuff that don't involve investing? I totally agree that we should take profits but take it in a smart way, don't be taking when you know that the potential for more profit is going to be even higher, take the time to assess before taking that profit, sometimes we're so overjoyed about it that we forgot that we could've made more if we just waited a little bit.

[AnonBitCoiner]

If you want to be a part of crypto trading and investment then I will suggest you to not sell bitcoin immediately but try to hold it longer because bitcoin will be suitable option of success if you keep it for longer time. Try to learn well about short term and long term investment because it matters a lot.

There are some people who prefer altcoins more than bitcoin because there is more surge in altcoins price than bitcoin but they forget that the risk is also very higher in a case of altcoins and investment in a single useless altcoin can totally change your decision because after a loss a person don't want to continue the same thing again so choose wisely and also get involved in investment instead of trading.

[Mr. Magkaisa]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

        -   The question is how long do you study and learn about bitcoin or cryptocurrency so you can make a profit from it? It will not be possible because you were just told that those are the perfect guidelines to be able to say that what was told to you is correct.

It's different because we ourselves can discover and know things about crypto trading. Second, it is not easy to understand and study trading in a short-period of time, I have been studying crypto trading for more than 1 year and until now I am still studying it while doing daily trade.

[Abdulzuruku01]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Getting advice from someone with more experience than you is generally a good idea. For example, your teacher may have told you about a strategy that worked for him or her.
Taking profits when trading is also a smart decision because not all projects are worthwhile to hold for a long time, and if you attempt to hold onto a project that is worthless for too long, you'll end up regretting it and quitting trading.
There are different opinions here regarding the profitability of holding for a longer period of time over a shorter period of time, but the truth remains undoubted, so take your time, conduct thorough research, and select the approach that you believe will be most effective for you.

[SOKO-DEKE]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade.

It's admirable to start the process of learning about trading, and it's important to keep going even when you feel like giving up. If you have a strong love for trading, don't let other people break you down or stop you from achieving your goals. Trading is undoubtedly a difficult endeavor with inherent hazards, but you can successfully negotiate the complexity and plow your way to constant success if you have a firm grasp of the market and a strong commitment to hard effort and ongoing study.

It's critical to understand that trading requires a significant amount of commitment and work, although many people are succeeding in this industry. Even if there may be people who are skeptical, keep in mind that there are many successful traders out there, and you too may find your place in this exciting industry. People who have lost money in the past may try to convince you not to trade, but you must approach the process with knowledge. Prioritize learning as much as you can before starting your trading career, and make sure you have the tools you need to overcome any obstacles that may come up.

Keep your actual passion in mind and resist the need to give in to confusion. Investing or trading whichever your passion, put your all into the endeavor you have selected. If you feel like trading, make sure you are well prepared and think about setting aside some money, maybe investing in Bitcoin also too.

I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding.

Everyone wants a steady income if at all possible, but the reality is that due to the volatile nature of cryptocurrencies, trading is not a method that someone can consistently profit from. No matter how successful you are, you will still have days when you lose money, and you won't know how much until it's too late. Instead, if you decide to hold onto your investments for a long time, you will only be targeting the moment when you can take a profit.To be honest, trading and taking profits at any moment are fantastic deals, as is holding, but the reality is that trading entails risk, which is not comparable to merely holding Bitcoin.

[justdimin]

Regardless of what someone says, don't rush to believe it, but check for yourself to see if it's really the way they are conveying it. I don't think OP's teacher stated a right/wrong point of view, and it's the OP's ability to apply it that matters, theory is just theory, practice more. There's any problem even sharing about the problem of criticizing the teacher's point of view, because each person's different interactions will yield different results.

In this case it can be applied correctly, and making a profit from an inexperienced person is a better outcome than taking a loss. But if you have contact and experience with the market, profits are not important, the plan you have determined needs to be achieved, not just a few percent, but it is the story of turning the initial investment into success a big profit, but there are obviously risks that need to be planned.

Yes, each can give their own views but still it does not mean that all are now correct. So it's not wrong to correct them. I know it can be hard but at least we try. And some can actually listen to us. So sometimes it was only our doubts or thoughts that limit us. As a newbie, going on our own is also risky. We can lose but it will still teach us something and we can use it to improve. Profits are still important because this is the

reason on why we are here. We must not only disregard other factors to be able to become a better individual. As a starter, we can go slow. It's fine but what important is there is a progress. I'm sure all our plans are still going to be fulfilled 100 percent.

[synchronym]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

op Did you learn about the trade online from the teacher you mentioned?  To trade in Bitcoin you must acquire enough knowledge about trading. If you don't acquire enough knowledge about trading then you cannot trade well. To trade Bitcoin you must have a long term plan. If you trade bitcoin for a short period of time you won't do much good with bitcoin, you must have a long term plan for bitcoin. Patience is of course very important in Bitcoin trading if you are impatient then trading will not be good. Of course you need to have a lot of patience, have a long term investment plan, check the market enough and then trade. Then you will be a successful trader.

[Viscore]

Selling when you see possible profits is not actually a wrong thing. In fact, the reason why you’re trading or hodling in the first place is to generate profits, and when you see good profits, then that’s the time to sell. Regardless if the profits is just a small amount, I think selling is still valid.

However, if you prefer to hold longer to gain bigger profits, that’s also a wise option to increase your profits. If you don’t need some funds at the moment, then it’s a wiser idea to just hold it longer and only sell when the market gets bullish or when bull run starts to takes place.

[Kelvinid]

Nobody will lose if they choose to stay strong, buy Bitcoin, hold them, and sell at a high price. But why are many people still losing? Couldn't be surprising they will because not all are able to follow those things, and not all are willing to wait, many we're too impatient. Those who have the mindset to make profits will certainly be making things in the right way and it was shown by some (including you) but as I've said, not all do it in the right way and so missing the chance.

I'd see people quitting not just because they lack of knowledge but it is due of their incapability to handle their emotions.

[the rise]

Your teacher only focuses on profits, so what if the price position drops suddenly? What steps would you take if you followed your teacher's advice, that's why you need to understand the risks, not just the profits, applying stop loss & take profit is much better and simpler than just hoping you can continue selling and making a profit, the crypto market is very volatile no matter what. could occur

[$weetne$$]

Your teacher only focuses on profits, so what if the price position drops suddenly? What steps would you take if you followed your teacher's advice, that's why you need to understand the risks, not just the profits, applying stop loss & take profit is much better and simpler than just hoping you can continue selling and making a profit, the crypto market is very volatile no matter what. could occur

I didn't write the thread to talk about the other things, the focus of the thread is to talk about talking profits as we're forgetting how to do that. Everybody is talking about holding but not teaching people how to sell in profits when they're trading. As the market is dipping many traders are trading at a loss due to not talking profits when the market was in green. For those that took profits, they won't be in loss as the market is trading at lost and from what is happening in the market right now, I'm beginning to get the point my teacher was trying to teach me. We're trading because we want to make profits so why aren't we taking profits when the opportunity is in front of us. Traders are suppose to be profit takers and we do this continuously untill we have made big numbers of profits.

[LogitechMouse]

Re: No one has gone broke taking profits, always take profits.

Markets move in cycles, so maximizing it through "Buy Low, Sell High" strategy would work perfectly.

The problem is that, there are some investors who prefers holding for long term to the point that they will not sell their coins even they're seeing that they're up 300% or 400% already. There's nothing wrong with that if that's your strategy, but for me, it's just better if you will just sell it when the market is at it's peak, then save some of that money and use it to buy when the bear market starts because after all, the bear market starts a few months after the bull market ends right?

Don't take this because your strategy is different to mine, but I learned a lesson last 2021 bull run already, and this time, I will completely sell all of my tokens when the bull run starts. After that, I'll keep most of it as well, wait for the bear market to happen then I'll Dollar-Cost Average at that time. Take profits, use your profits in any thing you want, but don't forget to keep some of it so you can still have buying power to use when the bear market comes.

[GreatArkansas]

Your teacher only focuses on profits, so what if the price position drops suddenly? What steps would you take if you followed your teacher's advice, that's why you need to understand the risks, not just the profits, applying stop loss & take profit is much better and simpler than just hoping you can continue selling and making a profit, the crypto market is very volatile no matter what. could occur

I agree with this because not all of the time you can take profits. The better is always to have a plan before entering the trade.
For example, you enter a trade on x price, then you take profit in y price and put stop loss in z price.
And last thing you will do is stick with your plan and analyze. Have patience.

[Ndabagi01]

Your teacher is correct in what he has told you, but I will interpret it this way. I am not talking about trading right now, but rather about investing in cryptocurrencies. If I invest in altcoins, mostly shitcoins, I will take profits as soon as I see them rather than relying on imagining profits that I will never receive. If it is a bitcoin investment, I plan to hold for the long term. If possible, while profiting from the altcoin investment, I plan to use DCA to increase my bitcoin holdings.

[freedomgo]

Whether the profits are huge or not, it’s still a good advice to take profits no matter what. Let’s not forget why we decide to trade or invest in the first place, that is to make a decent amount of profits and when we start seeing them in front of us, then I don’t see any reason why we have to delay it, except if you’re still not satisfied with the current profits.

However, we also have different target amount for profits. But we all know how trading outcome is unpredictable and uncertain, so as much as we want to take advantage with the market, then it’s actually a good advice taking profits when it’s already available.

[boty]

Whether the profits are huge or not, it’s still a good advice to take profits no matter what. Let’s not forget why we decide to trade or invest in the first place, that is to make a decent amount of profits and when we start seeing them in front of us, then I don’t see any reason why we have to delay it, except if you’re still not satisfied with the current profits.

However, we also have different target amount for profits. But we all know how trading outcome is unpredictable and uncertain, so as much as we want to take advantage with the market, then it’s actually a good advice taking profits when it’s already available.

Of course it is a good thing to take advantage of every trade we make, because everyone who trades certainly wants a profit and everyone has different ways of making profits, but the point is to make a profit, whether a little or a lot of profit and if in a trade that If we have made a profit then we can take it for the reasons we have and can hold it until we get an even bigger profit.

You are right, everyone certainly has a profit target that is different from others and it is very difficult to predict prices correctly so there is no harm in taking the profits that we have got now.

[Pandu Geddon]

Of course it is a good thing to take advantage of every trade we make, because everyone who trades certainly wants a profit and everyone has different ways of making profits, but the point is to make a profit, whether a little or a lot of profit and if in a trade that If we have made a profit then we can take it for the reasons we have and can hold it until we get an even bigger profit.

You are right, everyone certainly has a profit target that is different from others and it is very difficult to predict prices correctly so there is no harm in taking the profits that we have got now.

Therefore, some traders do not make just one target in planning their trades. If there is planning for target 1, if it is achieved and has the potential to reach target 2, the trader will not release his trading position. and wait for target 2 to be achieved.
trading depends on the trader's satisfaction. Planning in making targets requires good analytical skills. sometimes it can only reach the target price of 1 and a decision must be made quickly to exit the trade before the price corrects again.

However, no trader will always be profitable. Sometimes we forget something which makes us end up having to accept losses.

[Strongkored]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

What your teacher teaches will not always be suitable for all coins and all market conditions, so you have to be careful in determining which coins to trade, namely short term and which coins can be used as long term.
One coin that is quite suitable for short and long terms is Bitcoin because you can sell it at any time when the price has gone up but also keep it longer for better profits or wait if the market moves not according to analysis, while altcoins will be more suitable for short terms and risk not getting a profit because the market is not It's clear that you might also face it, so trading is actually not an easy thing.

[radjie]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Taking advantage of opportunities to gain profits in trading is quite recommended, in other words, don't be too greedy to always get big profits.  That means your teacher advises you not to focus on one type of coin to always be able to make a profit in trading.  Trading on Bitcoin has certain moments to gain profits quickly and of course holding it for the long term will be much better

[MFahad]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

this is indeed true that no one will go break if take profit and exist. but only if you can exit everytime. the fact is it is not easy to take a profit every time. there will always come times when some trading positions will go wrong and end up becoming loses.
and sometimes you loose because you don't know when to exist. for example you place your sell order at 5% up but the price drop again after just 3% or 4%. I have seen people missing trading with very small margin.
I hope your teacher also told you to be prefarred for risks and loss too.

[milewilda]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

this is indeed true that no one will go break if take profit and exist. but only if you can exit everytime. the fact is it is not easy to take a profit every time. there will always come times when some trading positions will go wrong and end up becoming loses.
and sometimes you loose because you don't know when to exist. for example you place your sell order at 5% up but the price drop again after just 3% or 4%. I have seen people missing trading with very small margin.
I hope your teacher also told you to be prefarred for risks and loss too.

We do know that we cant really be able to make profits on day to day basis or simply being constant and thats the real life of a trader specially into those short term or day traders on which they are really that actively
dealing up with the market on where they could really make profits or money on closing up their positions in the end of the day. There are ones who are holders on which it wont really be that relevant if they would really be having this kind of investment strategy but for those who are active traders then it would really be always recommendable that taking profits should really be your main priority.
You should really be having that kind of control and having that kind of targets on the time that you would really be making those decisions.

No one would really becoming that broke if you do really just know on when to take profits and when to hold your position. It is really just that there are people who are really that
not that mindful about into their plans and just simply dealing up on whats in front of them on which i could say that it isnt really that recommendable.

[abel1337]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Follow what you think is right. You teacher is right that taking profit is better than unrealized one. I myself is giving advise to other to just hold bitcoin if I know they are a complete newbies but on your case that you are learning how to trade, moving funds on your trades is inevitable. Trader always takes profit, holder does but on a much longer time. Remember that there are much risks on trading that's why I advise on just holding their bitcoin if they are newbies. Follow your earned knowledge, take advise but consider it as an option.

[ancafe]

I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

You must be able to differentiate between trading and investing because these two methods have significant differences. Trading is not easy to do and most beginners often experience losses when they first get to know trading. If you are not able to differentiate between the two then I am sure you will suffer losses when trading. Most beginners don't really understand how to trade and they don't learn the right way to engage in it. For me, if our skills are not good at trading, it would be better to invest because it will be much easier to run.

Holding is long term and usually people hold bitcoin for the long term because it has much better potential compared to other existing coins. Holding is clearly more profitable because you only wait for the price entry when you want to sell it and you also don't need to monitor the development of the coin in the market in conditions of rising or falling prices.

[retreat]

So when your trading just starts making a profit of a few dollars, do you immediately stop trading and take profit? because if we follow that advice, it means whatever profit you get now, you have to take it and just ignore all imagining profits because it's not that important. If so, how can you get high profits from your trading? think again.
You should know that traders also have to think about all imagining profits, because thinking about it means traders can determine their trading strategy and how to achieve the maximum profit from their trades.

[bettercrypto]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

But you should know that it is not enough to just listen to the advice given by others here, because you still need to prove to yourself whether the advice given to you here is correct or not. Because sometimes there are those who give advice that doesn't match what you really want to know about cryptocurrency.

So don't expect from the advice you are told right away; make sure first if what they are telling you is true or not. Even if you don't believe me right away, you should find out or do research first before you believe or handle it.

[skarais]

~~~

You must be able to differentiate between trading and investing because these two methods have significant differences. Trading is not easy to do and most beginners often experience losses when they first get to know trading. If you are not able to differentiate between the two then I am sure you will suffer losses when trading. Most beginners don't really understand how to trade and they don't learn the right way to engage in it. For me, if our skills are not good at trading, it would be better to invest because it will be much easier to run.

Holding is long term and usually people hold bitcoin for the long term because it has much better potential compared to other existing coins. Holding is clearly more profitable because you only wait for the price entry when you want to sell it and you also don't need to monitor the development of the coin in the market in conditions of rising or falling prices.

It seems that OP is more interested in trading than investing, so it's natural that he is more focused on being a profit taker rather than waiting for bigger returns in the long term. Short-term trading basically cannot always provide profits for traders, so there are times when traders experience losses when market conditions reverse. OP is right in her mindset, but it certainly has risks involved.

Getting consistent profits is very difficult, but there are always ways to increase potential profits when trading. Whatever the strategy, a trader must also be good at analyzing and minimizing risk, and is even required to have a reserve budget to carry out DCA if he does not set an acceptable loss limit.

[el kaka22]

Taking profits is a smart decision and should be done, but there are so many people who fail to do that, because they want more and they get greedy and they end up losing money on it. I am not saying that you should not be considering trying to make more money, but it really doesn't feel like a smart decision to just focus on what you could do, it just doesn't feel like you could make money from that. I get that you are going to have some trouble one way or another, but that is not really an acceptable situation neither.

I hope that we could get make some profit, like a decent size, where you take your initial money out, and just start trading with the profits, that way you will never really lose money at all and still can trade.

[ancafe]

It seems that OP is more interested in trading than investing, so it's natural that he is more focused on being a profit taker rather than waiting for bigger returns in the long term. Short-term trading basically cannot always provide profits for traders, so there are times when traders experience losses when market conditions reverse. OP is right in her mindset, but it certainly has risks involved.

Getting consistent profits is very difficult, but there are always ways to increase potential profits when trading. Whatever the strategy, a trader must also be good at analyzing and minimizing risk, and is even required to have a reserve budget to carry out DCA if he does not set an acceptable loss limit.

This means that he must actively study trading so that when he is involved in it he has a correct understanding of how to trade. Short-term trading cannot always guarantee profits because sometimes you experience losses, especially if the people involved in trading do not understand how to do it well. A person's mindset is definitely different, but what must be seen from that mindset is the extent to which a person is able to handle the risks that arise and minimize these risks as much as possible so as not to be involved in continuous losses.

Trading is much riskier than investing and even people who have experience in trading also experience losses, only they can handle the risk and try to take profits in the next trade. If he is able to do it then there is nothing wrong because actually trading can also be learned even though it does not guarantee full profits every time he is involved in it.

[Fatunad]

It seems that OP is more interested in trading than investing, so it's natural that he is more focused on being a profit taker rather than waiting for bigger returns in the long term. Short-term trading basically cannot always provide profits for traders, so there are times when traders experience losses when market conditions reverse. OP is right in her mindset, but it certainly has risks involved.

Getting consistent profits is very difficult, but there are always ways to increase potential profits when trading. Whatever the strategy, a trader must also be good at analyzing and minimizing risk, and is even required to have a reserve budget to carry out DCA if he does not set an acceptable loss limit.

This means that he must actively study trading so that when he is involved in it he has a correct understanding of how to trade. Short-term trading cannot always guarantee profits because sometimes you experience losses, especially if the people involved in trading do not understand how to do it well. A person's mindset is definitely different, but what must be seen from that mindset is the extent to which a person is able to handle the risks that arise and minimize these risks as much as possible so as not to be involved in continuous losses.

Trading is much riskier than investing and even people who have experience in trading also experience losses, only they can handle the risk and try to take profits in the next trade. If he is able to do it then there is nothing wrong because actually trading can also be learned even though it does not guarantee full profits every time he is involved in it.

When you do touch up trading then having that kind of mindset on which you are believing that you could really be able to make guaranteed winning trades on the time that you do engage out then it is really that a very wrong kind of assumption on things on which you are really that believing on something which cant be possible.Yes, trading is strategic based but doesnt mean that it would really be guaranteeing out those positive results
on the time that you do make trades. This is why it wont really be that a wise idea that you should instill out that kind of belief or idea on the time that you do get involved with trading.

Always secure profits on the time that you are making because you cant be able to know on the next trade on which the market would really be making out such
unpredictability and could give out those random swings on which those kind of analysis cant really be able to read up and not something
that could really be handled out as well.

[Distinctin]

As long as there is potential profits, then you’re supposed to take it than be more greedy to long for a bigger profits. Not all the time that you’ll be in consistent profits, so never miss an opportunity by not taking it, regardless of its amount, profits are always good profits so take it whenever it’s possible.

However, it also depends on your trading plan and set goals. If you think that profits alone is enough, then take it. But if you see bigger potentials to increase them in the future, and you’re not facing bad financial condition at the current, so stick to your plan and continue working on it.

[Stepstowealth]

My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Your teacher is teaching you based on his own experience, if you were under the tutelage of another person, they may still give you the advice to not take profit until the profit you set maybe also due to an experience that they may have had. No one has gone broke from taking profit, but you may never get rich if you keep taking profits too early. There has to be a balance with taking profits and then not taking profits, you don't have to take profits too late, and also not to take it too early. Taking profits need to be timed, at a moment when you consider that you've made enough profit from the market and it is safe and alright for you to exit.

[Saint-loup]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

It depends of your Risk Reward Ratio, if you are using a high RRR while the market is rather flat or during a bear market it will be hard for you to take profits easily while respecting your RRR and its reward target. So it's not always possible to take profits whenever your want, the effectiveness of your profit-taking is intricately tied to your overall trading strategy actually and it's better to follow an adaptive approach that takes into account current market dynamics.

[ancafe]

When you do touch up trading then having that kind of mindset on which you are believing that you could really be able to make guaranteed winning trades on the time that you do engage out then it is really that a very wrong kind of assumption on things on which you are really that believing on something which cant be possible.Yes, trading is strategic based but doesnt mean that it would really be guaranteeing out those positive results
on the time that you do make trades. This is why it wont really be that a wise idea that you should instill out that kind of belief or idea on the time that you do get involved with trading.

We never talk specifically about the mindset of guaranteeing continuous winnings in trading and what we convey is how a professional trader can handle his trades even though he experienced losses in previous investments. The difference between a beginner trader and an experienced one is huge and a small thing like the one I mentioned above is a form of mental readiness when facing losses in trading.

Trading is strategy based, but it is not uncommon for the strategy we use to be wrong so that at certain times we have to take another approach. Confidence in trading must also be accompanied by how someone is able to carry out technical analysis and change strategies when conditions do not go according to the scheme.

Always secure profits on the time that you are making because you cant be able to know on the next trade on which the market would really be making out such
unpredictability and could give out those random swings on which those kind of analysis cant really be able to read up and not something
that could really be handled out as well.

What is certain is that profits from previous trades will be withdrawn or saved first and daily traders will continue to trade at all times. So it is appropriate for a trader to also have the ability to see the conditions for when to exit a trade or when to do it again.

[wxa7115]

My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Your teacher is teaching you based on his own experience, if you were under the tutelage of another person, they may still give you the advice to not take profit until the profit you set maybe also due to an experience that they may have had. No one has gone broke from taking profit, but you may never get rich if you keep taking profits too early. There has to be a balance with taking profits and then not taking profits, you don't have to take profits too late, and also not to take it too early. Taking profits need to be timed, at a moment when you consider that you've made enough profit from the market and it is safe and alright for you to exit.

When the teaching process is so individualized the students tend to become a reflection of their teachers, however this idea of trying to take profits no matter what is the wrong approach to the markets, as it seems to derive from a fear of losing the trade and as a result to lose some money.

And while it is fine to take measures to drop our losing rate as much as we can, at some point we need to also accept that losing a few trades is also part of our journey, and trying to play it safe will not only diminish our profits, but it could produce losses over the long term as we are not making enough money with each position that we open.

[FinePoine0]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

There are many differences between short term trading and holding. Short term trade means if you can buy from the market and sell within a short period of time and earn profit then it will be instant short term trade. And if you hold a coin for a long time like maybe for a few years that would be a holding. It is safest to hold and gain profit, if you can buy tokens at a low price it will definitely increase, and it is better to hold long term in trusted coins. Profit in any trade should not be neglected, this is the main goal.

[Natsuu]

No, your teacher is wrong, don't listen to him.

Either he's just looking for someone who will do the same thing he did which he regrets until now or he just like to drill that kind of mindset in your brain. Holding for long term is much better than taking profits every single time you feel it's good to sell to get some profit, and I'm sure it is not that big. Don't waste the opportunity you got when you bought your Bitcoin in the lowest price just to apply your teacher's experience.

I get it because holding for the long term has its perks, especially if you got in at a low price. It's like riding the wave for big gains. But you know the market can be tricky. Taking profits occasionally is like playing it safe so you don't miss out if things take a turn. It's all about finding the sweet spot that matches your style and goals

[Volimack]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Your teacher has always advised you to make profit it is right but no one can tell you the exact news that you will only get profit in trading. Suppose you trade a coin to get profit, how can you get profit if the price goes down. You have to try to understand the liquidity of the market which is more suitable for your own strategy for trading. Coins are at high risk for price volatility. Trade by knowing the right time to buy and sell.

[Dr.Osh]

Yes, he's right. after all, no one goes bankrupt from taking profits. However, people sometimes don't know when to stop. In fact, when they have made a profit, the feeling of wanting to hold back to get a bigger profit will always be there. This will be realized when prices start to fall. However, this method will work when we have a strategy in determining the minimum profit, so that when the profit we have approaches the minimum limit, we must immediately make a decision to make that decision.

[kojektea]

The trading that your teacher said is only focused on bitcoin trading, it cannot be applied to many altcoins, altcoin price movements are very volatile so we even have to sell them even at a loss, and even in your strategy it will not always be profitable unless you can hold for a week, a month or even years, I think a trader will not be able to hold for more than a week

[gabbie2010]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Your teacher ought to have clarify to you the differences between investment in Bitcoin and trading of cryptocurrencies they are two different ball m game being a profitable trader you won't get broke because your profits would be exchanged or converted to fiat for other purposes and have funds to spent, however to attain the feat of becoming a profitable trader it takes a lot of personal effortsl,  sacrifices, learning the skills, charting time, leaning both fundamental and Technical Analysis, meanwhile as an investor of Bitcoin you might get broke if there is no backup to finance other personal needs because it takes time before earning some decent profits as cryptocurrency hodler that is only during the bull run

[passwordnow]

The trading that your teacher said is only focused on bitcoin trading, it cannot be applied to many altcoins

I disagree, as long as you're trading, you're just having the same activity but with a different choice. Now, it's up to you on how you're going to cope with the market and how you make things well by providing yourself with info. At the end of it, what matters is you know when to take profits and the ins and outs of it.

altcoin price movements are very volatile so we even have to sell them even at a loss

They're volatile and that's the same as Bitcoin which is also volatile. You are only going to sell them at loss when you think that you should stop loss already. That's what matters with trading and the point is still about taking profits and no one is gonna be broke with that and that's a true thing.

and even in your strategy it will not always be profitable unless you can hold for a week, a month or even years, I think a trader will not be able to hold for more than a week

A trader is a trader and if it means to them that they have to hold more than a week, they will. There's no time limit in trading as long as they know when to sell and if it's the right time to buy. That is what's the good thing in trading, you don't have time limits but you need to be aware that the market is changing and the liquidity of these altcoins and projects aren't controllable.

[God bless u]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Holding is the best thing  we can earn a lot of money by holding, the main reason is that if you sell a coinat a low price, you will not be able to make as much money as you can by holding.
Take the example of Bitcoin, how low its price was, and see how high its price has become. Bitcoin has given profit to many people even all currencies up their prices that every coin is talking to the sky, so those who have a hold of it are very profitable. They will be very happy.  Who they are sold out in low price they cannot do anything except regret, so what your teacher has told you is to hold, which means that there is benefit in holding, but it depends on you how much the person will benefit in the end. It is also important that as much benefit as you get, the person should accept it.

[kentrolla]

Yes, he's right. after all, no one goes bankrupt from taking profits. However, people sometimes don't know when to stop. In fact, when they have made a profit, the feeling of wanting to hold back to get a bigger profit will always be there. This will be realized when prices start to fall. However, this method will work when we have a strategy in determining the minimum profit, so that when the profit we have approaches the minimum limit, we must immediately make a decision to make that decision.

You have called out the major problem which is people still don't follow take profit as they wait and expect for more profit but they don't realize that market cannot keep going on upward trend and once the market fluctuates they either cashout for lesser profit or sell off when the start incurring loss. They need to plan one being a proper strategy about the percentage of profit and number of trade to set take profit. Most of the experience traders do have short profit margins with multiple trades but amateur fall for trap of higher profit thus losing it.

[Woodie]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading.

Best advice!

The problem we tràders tend to have is trying to be selfish with the markets, when it comes to a trade we initially wanted to get profits at 1:3 RR we try to now push for 1:5 without any partial profits and when markets reverse and hits our stop loss we are now in negative without any profits after all the analysis and waiting.

I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

I like your mentor, the lesson here is don't be greedy pay yourself while you trading

[stomachgrowls]

Yes, he's right. after all, no one goes bankrupt from taking profits. However, people sometimes don't know when to stop. In fact, when they have made a profit, the feeling of wanting to hold back to get a bigger profit will always be there. This will be realized when prices start to fall. However, this method will work when we have a strategy in determining the minimum profit, so that when the profit we have approaches the minimum limit, we must immediately make a decision to make that decision.

You have called out the major problem which is people still don't follow take profit as they wait and expect for more profit but they don't realize that market cannot keep going on upward trend and once the market fluctuates they either cashout for lesser profit or sell off when the start incurring loss. They need to plan one being a proper strategy about the percentage of profit and number of trade to set take profit. Most of the experience traders do have short profit margins with multiple trades but amateur fall for trap of higher profit thus losing it.

When greed kicks in then there's no such thing about discipline trading sessions would really happen.  

Greed isnt really just that playing on gambling but also in trading as well or any activity or dealing that would really be connected with spending money then it cant really be that
avoided that greed could really be able to kick in on which it is really just that part of human nature that we would really be asking for more if we do have the chance or having that kind of opportunity. This is why
it would really be that best that we should really be considering on taking profits if ever we do see up those gains because if you dont then expect that you would really be going
better in terms of this career.

Profits is profits and dont ask for more.Somehow it cant really be avoided because who doesnt really love for more profits? None, right? it is really just
that when it comes to trading where prices could go make some full u-turn then you are really just that basically wasting up such opportunity.

[tvplus006]

Therefore, some traders do not make just one target in planning their trades. If there is planning for target 1, if it is achieved and has the potential to reach target 2, the trader will not release his trading position. and wait for target 2 to be achieved...

It depends on which strategy the trader follows. Of course, you can take profit in parts when the price approaches the next one resistance, but you can also not take profit, but move the stop loss higher. In this case, if the price starts to roll back, your order will be closed with a profit.

[bitLeap]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

I know what you mean but if you generalize it to everything then it's clearly wrong. In terms of trading, you also need to determine whether you are a long term or short term trader because the concept of taking profits  in both is different. You may still be in the phase of being able to take a little profit in a short time but the  fluctuating trading situation does not always show improvement so if you enter  with altcoins perhaps your expectations of taking short  term profits will not be easy. In Bitcoin it is the same, but trading Bitcoin for a short time when your fund allocation is still minimal will not make you feel the benefit therefore there is something  called a hodler to avoid what you cannot take in a short time on the market.

[Casdinyard]

The thing is, you can't apply that advice to every position. Some assets are meant to be held long-term, while some assets are meant to be shorter-term trades. But since you're saying this in the Trading Discussion section(which is more towards trades than investments), then sure.

Exactly. Taking profits without maximizing them is just as detrimental as actually losing a position in some cases, so taking profits willy-nilly without gauging whether you can still push for more is going to be detrimental to your behavior as a trader and your holding eventually.

Only thing I could really see this being applied unconditionally is in the world of gambling, and that is only because of the fact that you're literally playing with odds stacked against you so wins are harder to come by and when they do come, they pretty much come in hefty, which only makes it even more optimal for you to lock in prices. In the world of trading the only risks you have to worry about is the ones that control the market's opinion about your asset, and sometimes your propensity to take profit at every single pump.

The advice is good in my opinion and it does come from a place of logic and wisdom, but as a trader you're pretty much playing with risks everyday so why not maximize how much you'd be able to bag when you're trading instead of copping every single dollar that comes by to your wallet.

[Huppercase]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Determinations are different I must say, if you open a Bitcoin position at a particular price and you want to take profits, where I want to take mine might be entirely different from where you might want to take yours, so it's all about profits determinant because I don't think there is any trader that will trade and watch his profits hits his target and allowed it retrace back without selling. Let's say the trader wasn't aware when the price reach his target and when he check he found out that the price was below there, he is going to sell and take profits unless he is a greed type of person or inexperienced trader.

However, to avoid problems of not getting exact target, you can build a Trailing profits on your trades by setting up a point where you will like to take profits. Like for example, you bought a coin at $3 dollar, you can set your Trailing profits around $5, $7 and so on depend on if the coin already has a support and resistance formed in the previous candles or how far you think the coin will reach and the allocation will be in percentages. This options is not available in all centralized exchanges but top exchange like Binance has this and you can explore it if you are a good trader.

[wxa7115]

The thing is, you can't apply that advice to every position. Some assets are meant to be held long-term, while some assets are meant to be shorter-term trades. But since you're saying this in the Trading Discussion section(which is more towards trades than investments), then sure.

Exactly. Taking profits without maximizing them is just as detrimental as actually losing a position in some cases, so taking profits willy-nilly without gauging whether you can still push for more is going to be detrimental to your behavior as a trader and your holding eventually.

Only thing I could really see this being applied unconditionally is in the world of gambling, and that is only because of the fact that you're literally playing with odds stacked against you so wins are harder to come by and when they do come, they pretty much come in hefty, which only makes it even more optimal for you to lock in prices. In the world of trading the only risks you have to worry about is the ones that control the market's opinion about your asset, and sometimes your propensity to take profit at every single pump.

The advice is good in my opinion and it does come from a place of logic and wisdom, but as a trader you're pretty much playing with risks everyday so why not maximize how much you'd be able to bag when you're trading instead of copping every single dollar that comes by to your wallet.

This is spot on, our winning rate is important as if it is too low it will be very difficult for a trader to keep their poise and trade as they should by following their strategy.

But this idea of taking profits no matter what will severely impact the profits we may get with our successful trades, and in that case it is preferable to lose a few more trades and increase the money that we get than to do the opposite, which is what the OP proposes, because at the end we are trading not to be accurate traders but to become profitable traders.

[tvplus006]

Exactly. Taking profits without maximizing them is just as detrimental as actually losing a position in some cases, so taking profits willy-nilly without gauging whether you can still push for more is going to be detrimental to your behavior as a trader and your holding eventually. ..

As a rule, a trader takes a profit when he sees that the price growth has already exhausted itself and the price has approached the resistance level. And the trader is faced with a dilemma, if he does not sell now, then the price of the coin may decrease. And this fear of losing profit makes him fix profits.

[Natalim]

Exactly. Taking profits without maximizing them is just as detrimental as actually losing a position in some cases, so taking profits willy-nilly without gauging whether you can still push for more is going to be detrimental to your behavior as a trader and your holding eventually. ..

As a rule, a trader takes a profit when he sees that the price growth has already exhausted itself and the price has approached the resistance level. And the trader is faced with a dilemma, if he does not sell now, then the price of the coin may decrease. And this fear of losing profit makes him fix profits.

But most traders do the wrong way, instead of selling as they already have the profit, they even wait for more until the hype is over. Losing the chances usually happens for greedy traders, and the more they trade, the more they lose.

If all traders just know how to accept small earnings, nobody for sure will end up losing. Sadly, the common instinct is "What if the price increases more"? Contentment is a common problem that is hard to change and a reason for failure. Even though we have deep knowledge and skill about trading but we have a behavioral problem, that's still end to nothing.

[MIner1448]

It is clear that in the first training of the dealer, the neophyte needs to be trained oвaть пpибыль paбoтaть c cтoп лoccaми. There is another emotion in Berut's face, but it's in the same way, so you'll hear about it It's a good job for you to cut and cut, so you don't have to worry about it oдит.

[EarnOnVictor]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

You are only confused because you are still new to the system and I don't think that your teacher is wrong but you are the one who couldn't differentiate between investment and trading. Trading and investment are not the same thing even though you are still investing by trading, and one is more risky than the other, and in trading, if you tarry too much in taking your profits depending risk you take, it might be catastrophic, which is what I believe your teacher was trying to tell you. Yes, it is good to take your profits, this is mainly because the market might reverse back against you and you might lose both the profits and your entire money if care is not taken.

For this, while trading, you have to also use the stop loss so that you will know the maximum amount you can lose and this reduces fear and tension in trading. But for investment, you can buy the asset and leave it, it is less risky, and you may not even look at it for years if it is such that you trust that much. In that, you might not be bothered to be watching your profits to avoid emotions and bad investment decisions. You can continue to HODL it and you will be just fine.

Do you understand now?

[Peanutswar]

Not all people have the same journey when they start trading It is good that you gain from the eco we experience to those people you've seemed idolized it's just a stepping stone with your journey. I'm not a pro but still have experience every person who earns a lot with trading has the basics, always cut the losses when you think already marked your SL or gain the profit already when you hit TP. Every basic step are signal to you sometimes having too much knowledge makes us overthinking every possible outcome.

[Lantind]

Not all people have the same journey when they start trading It is good that you gain from the eco we experience to those people you've seemed idolized it's just a stepping stone with your journey. I'm not a pro but still have experience every person who earns a lot with trading has the basics, always cut the losses when you think already marked your SL or gain the profit already when you hit TP. Every basic step are signal to you sometimes having too much knowledge makes us overthinking every possible outcome.

Everyone will of course experience different obstacles when trading and if we can learn from the experiences of those who already have experience in the field of trading, of course it would be very good if we could follow them and also we must have basic knowledge about trading, don't just follow other people. others, but we don't understand anything about trading, of course this will be a problem for them when trading.

Too much consideration and thinking about what we will get in trading can make us miss every opportunity that is in front of us and to be able to get it back, of course we won't know about this, so it would be better if we were sure of what we know. then we can trade to make a profit and we also have to be careful.

[milewilda]

Exactly. Taking profits without maximizing them is just as detrimental as actually losing a position in some cases, so taking profits willy-nilly without gauging whether you can still push for more is going to be detrimental to your behavior as a trader and your holding eventually. ..

As a rule, a trader takes a profit when he sees that the price growth has already exhausted itself and the price has approached the resistance level. And the trader is faced with a dilemma, if he does not sell now, then the price of the coin may decrease. And this fear of losing profit makes him fix profits.

But most traders do the wrong way, instead of selling as they already have the profit, they even wait for more until the hype is over. Losing the chances usually happens for greedy traders, and the more they trade, the more they lose.

If all traders just know how to accept small earnings, nobody for sure will end up losing. Sadly, the common instinct is "What if the price increases more"? Contentment is a common problem that is hard to change and a reason for failure. Even though we have deep knowledge and skill about trading but we have a behavioral problem, that's still end to nothing.

When it comes on taking profits then this is one of the most common rule that people should really be thinking off specially when they do touch up the area or space of trading on which it isnt really just that limited into this market but also in other things as well.If you arent really that mindful about taking up some profits and really that too greedy because you do have those kind of hopes that you could really be able to make more money
and turns out that the market would really be going against on what you are expecting, then it would really be giving out that kind of regret that will really be that minded for the rest of your life.

This is why it would really be that always best that you should really know on when to take profits and on when you should really be that holding your position.
Outcomes and results would really be that different to each other on which there would really be those people who would be able to skip out on such
decision because of those wrong hopes and dont stick out into their initial plans earlier.

[AbuBhakar]

Not all people have the same journey when they start trading It is good that you gain from the eco we experience to those people you've seemed idolized it's just a stepping stone with your journey. I'm not a pro but still have experience every person who earns a lot with trading has the basics, always cut the losses when you think already marked your SL or gain the profit already when you hit TP. Every basic step are signal to you sometimes having too much knowledge makes us overthinking every possible outcome.

All that you mention is correct in relation to properly trade. I think the main essence of this thread is by securing profits regardless of the size since this is always the part which many traders failed to become successful.

I experienced this kind of dilemma before when I purchase Bitcoin at 30K and failed to sell at peak 67K because I’m still aiming for higher profits while I still have a lot of profit margin on my position. The end game for me is taking profit at 40K missing a lot of profit when peak just because I’m too optimistic that the price will go above 70K that time which never happened until now.

[|MINER|]

Profit taking is not bad but holding is better and should do market analysis and then sell.  If you invest in BTC, then I will say hold. And if you have invested in alt coin or meme coin, then I will say to take the profit.  It is better not to invest in alt coin and meme coin for long term, it is better to be satisfied with small profit. But if you invest in BTC, hold and wait for bull run.

[ScamViruS]

Profit taking is not bad but holding is better and should do market analysis and then sell.  If you invest in BTC, then I will say hold. And if you have invested in alt coin or meme coin, then I will say to take the profit.  It is better not to invest in alt coin and meme coin for long term, it is better to be satisfied with small profit. But if you invest in BTC, hold and wait for bull run.

Right. We have witnessed many top alts crash overnight and investors lose money. That's why it's important to book Altcoin profits, because the market will give you so many opportunities that the thought of doing something big with just one trade can often lead to losses. Keeping Bitcoin trades open is definitely less risky because even if Bitcoin goes down for a while, it will recover over time and bring bigger profits. And holding Bitcoin is a big investment for the future.

[Nrcewker]

When you do proper research and hold the coins then, it is very hard at that time to take out the early profits. A trader gives all his efforts to estimate the price of the coin and set a goal for profits. Now if he at this time cashout before reaching the goal, then definitely his hardwork goes into drains. I know it’s better to have little profits than losses, but sometimes you do have to take risk in order get the desired amount of profit from a coin.

[pawanjain]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

That is the best advice by far because I have always regretted not taking profits while I could have.
I am trying my best to develop the skill of taking profits but I often keep holding longer and then lose the higher price.
That way the price keeps falling and I don't sell then the same cycle repeats the next time.
These days I am trying to take small profits when the price is little higher while not selling the full stash.

[_BlackStar]

When you do proper research and hold the coins then, it is very hard at that time to take out the early profits. A trader gives all his efforts to estimate the price of the coin and set a goal for profits. Now if he at this time cashout before reaching the goal, then definitely his hardwork goes into drains. I know it’s better to have little profits than losses, but sometimes you do have to take risk in order get the desired amount of profit from a coin.

Of course – it's better to gain a little than to lose a lot. This mindset is correct - but not all plans and expected profit targets will always be achieved. The market is very difficult to predict and trader must be fully aware of that. Traders must also have risk considerations and second plans - at least this can save them when prices do not worth what is expected.

The second plan I mean is a trading strategy. A trader should consider a backup strategy before placing a trade - such as DCA so they can recover their position more quickly when the price falls. But whatever the strategy - risk must still be there, traders cannot ignore it.

[sulendra12]

I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits

How come you want to take the profits but you think that if you sell you are not doing in a right way? That contradicts your statement. You are free to choose when you want to take the profits when the situation calls it, every traders have their own method to determine when is the best time to take profits. They might have some sort of threshold and deep research to make sure they have the best results.

[boyptc]

How come you want to take the profits but you think that if you sell you are not doing in a right way? That contradicts your statement.

It wasn't him thinking that but people's comment.

You are free to choose when you want to take the profits when the situation calls it, every traders have their own method to determine when is the best time to take profits. They might have some sort of threshold and deep research to make sure they have the best results.

And that makes sense that everyone has to take profits whenever they feel that it's enough and right time. When times of greediness comes, you're going to miss that huge profit that you might get.

While it is on the top, you're missing the huge money and when it drops down, that's when you start to take profits and many goes wrong with that timing.

[snowpega]

well dear it depends on the plan as Some of the projects are for long-term investment and some for the short term. In the case of the long term if we take a profit and the market does not allow us to buy back so we are disturbing our plan for the long term and for the short term we can take profit only at the best time when needed otherwise booking profit all the time is not a good idea at all as no one can predict the market 100% accuratly. 

[suzanne5223]

When you do proper research and hold the coins then, it is very hard at that time to take out the early profits.

Taking profit may be tricky but is not hard as you said and the reason why people see taking profit in trading as something hard is because they never set a goal and the purpose of the investment/trading before they start. It's the goal and purpose that will trigger the right time to make a profit.
Another thing that's like that is re-investing the crypto profit.
This reminds me of when YFI was making waves, I aimed to get out of it and I set my goal when the goal was achieved I sold off and re-invest into BTC few weeks later when I checked the price of YFI it was in red while BTC is going green which I think some investors also the same thing I did.
 

[Sanitough]

Well, profits are need to be taken and not to be kept forever, otherwise the essence of having profits and being profitable will never be realized. While some investors or traders feel the need to chase more profits most particularly if they are still seeing potentials to gain profits, others would quickly sell for profits, and there’s no wrong with that as long as they are selling for profits and not at a loss.

But we all know everyone of us has our own preferences. Some may have set a bigger amount of profits before they will decide to sell, while others do not matter if it’s big or small as long as it’s considered profits. It’s actually a matter of individual’s mindset and preferences.

[Xampeuu]

In the long term, by choosing the best coin, in my opinion it is not a problem if we hold it, but if we want to maximize profits, I think we have to know the moment that happens, so we don't always hold it. sell when there is bullishness and buy back when there is bearishness. especially for short-term trading, of course you have to be able to take advantage of the momentum and not be greedy in taking profits, because there will always be an opportunity to make a transaction

[jrrsparkles]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

Imagine if someone followed this strategy in 2011, they kept cashing out their profits instead of holding then they will surely regret their decision now.

Taking profits is good but you also should concentrate on building your portfolio especially accumulation of Bitcoin to enjoy the benefits in long term.

[BitcoinTurk]

I started learning how to trade and my teacher just told me this advice that no one has gone broke taking profits when trading. I have always wanted to earn Bitcoin but I have been confused how to start then decided that I'll learn how to trade. I have been reading through the forum and I see lots of advice about holding and it's looking like if you sell you're not doing the correct thing. The first advice I have received is that I should always take profits. My teacher said the profits you take is better than all imagining profits you'll think that you can get in the future if you keep holding. He didn't say holding is bad but I got advice not to neglect the profits that I can take. I got this advice and I want to share it with everyone, always take profits.

First of all, I would like to point out that receiving profit in case of a short-term price increase in long-term investments turns a long-term investment into a short or medium-term investment. In other words, it would be a mistake to take profit at the slightest price movement especially for long-term investments and it isn't a mistake for people with this portfolio not to sell in small price movements.

Talking about short-term buy-sell trades, I can also agree that it is a very important detail to always take profits gradually in these trades because especially in short-term trades since the profit obtained is only visible in the account balance it makes the user think as if they are playing a game and increase their earnings even more. It forces you to wait. Therefore, it is important to take profit from each trade strictly gradually over the short-term period.

[Bushdark]

I learnt in a hard way and that have taught me to always take my profits anytime and anyway.
Some of us that have not been in trading for a very long time might not understand this. We need to be wise and know what we are doing.
Those traders that are always taking there profits away after every trade are better traders than those ones that are always feel like confidence about there trading portfolio. A wise trader would always remove his profits.

[AnonBitCoiner]

In the long term, by choosing the best coin, in my opinion it is not a problem if we hold it, but if we want to maximize profits, I think we have to know the moment that happens, so we don't always hold it. sell when there is bullishness and buy back when there is bearishness. especially for short-term trading, of course you have to be able to take advantage of the momentum and not be greedy in taking profits, because there will always be an opportunity to make a transaction

Keeping eye on the market price is good idea because it will help you to decide according to the market situations therefore if your hold coins rise in price then sell it immediately without greediness for more profit but if it is in the case of bitcoin then you can wait more because it will not make its users disappointed. Short term traders can easily take profit during these circumstances because market is highly volatile so they can easily buy and sell their altcoins according to their profit. Planning is necessary in trading and investment because sudden decision can be risky for you therefore make a plan and work according to it and wait for your target price.

[poodle63]

In the long term, by choosing the best coin, in my opinion it is not a problem if we hold it, but if we want to maximize profits, I think we have to know the moment that happens, so we don't always hold it. sell when there is bullishness and buy back when there is bearishness. especially for short-term trading, of course you have to be able to take advantage of the momentum and not be greedy in taking profits, because there will always be an opportunity to make a transaction

its the selling at bullish and buy at bearish that always become kinda difficult to know we just don't really know when to sell exactly with trading, of course everyone wanna sell at the peak and buy at the very bottom the truth is selling when its high enough the coin could get higher regardless, but thats fine right since we are still in profit anyway. but when it comes to buying at the bottom its the difficult thing, determining the bottom is just so unclear that sometime its like catching falling knives, we can be buying at some point that we think its the bottom but the price could still be dumping further.
therefore its better if we can have clear strategy before hand determine at what point we gonna take profit maybe at 5% or 10% if its short term trading thats already good enough.
if its long term it can be higher than that but the silver lining is that, never get too greedy that we overhold it and instead missed best opportunity ever.

[DVlog]

Someone says its harder to get a perfect entry than a nice exit. You can enter the market anytime you want and make profit but if you don't have any plan to exit from the market then your profit will only satisfy your eye not your pocket. So we should know when it is time to exit from the project we get in the bear market when everything was dumping. That is the reason a money management strategy is an important part of a trader's life. Everything needs to be according to the plan.

[livingfree]

Imagine if someone followed this strategy in 2011, they kept cashing out their profits instead of holding then they will surely regret their decision now.

That's okay.

Because we've been doing that and if no one will take profit, how can you enjoy it? Also, those that have taken profits long time ago, I am sure that it has been put into good use so there's no regret. And no one has an idea on how the market will be way back that time.

Taking profits is good but you also should concentrate on building your portfolio especially accumulation of Bitcoin to enjoy the benefits in long term.

If it's Bitcoin, I am with you mate. It's needed to be done by those who are looking long term on holding Bitcoin. We're all for holding but when the time comes that it's enough to take profits, you have to make your decisions.

[pusaka]

In the long term, by choosing the best coin, in my opinion it is not a problem if we hold it, but if we want to maximize profits, I think we have to know the moment that happens, so we don't always hold it. sell when there is bullishness and buy back when there is bearishness. especially for short-term trading, of course you have to be able to take advantage of the momentum and not be greedy in taking profits, because there will always be an opportunity to make a transaction

Keeping eye on the market price is good idea because it will help you to decide according to the market situations therefore if your hold coins rise in price then sell it immediately without greediness for more profit but if it is in the case of bitcoin then you can wait more because it will not make its users disappointed. Short term traders can easily take profit during these circumstances because market is highly volatile so they can easily buy and sell their altcoins according to their profit. Planning is necessary in trading and investment because sudden decision can be risky for you therefore make a plan and work according to it and wait for your target price.

Always focusing on market movements is something that traders should do, but it's not something that long-term investors should do, because they only have to wait and see once, which is why I prefer long-term investing over being a short-term trader or investor.
Especially if we invest in bitcoin, for me it is a very fun investment, because all we have to have is great patience to wait for our time to arrive, of course with careful planning.
For the problem of profit, indeed being a trader or being a short-term investor will generate profits in a fast time, but again it all depends on the choice that is more comfortable for us.

[Kelward]

The thing is, you can't apply that advice to every position. Some assets are meant to be held long-term, while some assets are meant to be shorter-term trades. But since you're saying this in the Trading Discussion section(which is more towards trades than investments), then sure.

Trading is short term so I think that it's ok to take profits, atleast to reward yourself for a job well done, because trading is hard with more chances of encountering loses than profits. Although a trader should take some percentage of profit and leave the rest, so when loses occures it'll not dip into trading capital, because you might have all the technical knowledge in trading, yet loses will occur, so a good trader must have reserve to cushion the effects of loses. As far as investment goes, it's better to hodle for the long term, especially a reputable cryptocurrency like Bitcoin.