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.