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

[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

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[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.