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

[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.