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

[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.