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

[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.

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[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.