Take Profits! Its important!

[Joseph-P]

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

[Oshosondy]

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

It did happen to me countless number of times. The last one that I remember that caused me significant loss was when I was winning $45 already but I set TP at $50. The market later went down and I lost money a lot. As a trader, it is good not to be greedy.

[Beparanf]

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

You shouldn’t invest money if your priority is keeping it. Just put in the bank and wait for the annual income if your goal is survival of your asset rather than profit.

You should invest only what you can afford to lose so that you are free to take necessary risk to make profit. Taking profit is always a good idea since any form of profit is good. But your suggestion of prioritizing the safety of your asset first before the profit will just limit your earning potential since you will keep early selling when there’s price volatility that is normal in crypto.

[SamReomo]

When someone opens a position whether it's a long position or a short positron that person wants to earn profits form that position. Some people want to earn so much profit from their opened positions and when they see some green PNL then they get happy and wait to see some more of it. That's the worst mistake a trader makes and such traders often end up losing money rather than making any profits.

A good trader on other hand will try his best to get as much profit as he possibly can and such traders really don't care much about earn huge profits in one trade. A good trader wants to earn some profit from each trade and overtime the profit gets higher. A good trader take low risk and believes in good rewards, and that's why such traders always set take profit and stop loss on the trades.

So, I guess whatever you said in your thread is somehow correct and actually I also believe that a trader should take profits as often as possible. No trader can keep a 100% win rate and if someone shows that he wins 100% then that's more like a fraudster or a gambler, not a trader. A trader has to face both wins and losses because without losses a trader can never learn trading fully.

[Majestic-milf]

 First of, you made mention of "extreme greed' levels and this means by my understanding that traders will possess the ability to want to benefit from the market at all costs, not minding that it can crash at any moment, so what do you expect?

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

the essence of trading is to make profits but that should not over rule the need for survival, that is why it's important to not have Bitcoin trading as your only means of investment, diversifying will help take your eyes off constantly checking the charts because sometimes it's when most of your money is in one basket that you will get greedy.

[mindrust]

"No one went broke taking profits."

Your profits are all on paper unless you realize them. By "realizing" I mean converting them to FIAT. It may sound weird to many people but we still live in a FIAT world. People still price their stuff in FIAT because it is somehow predictable unlike crypto. Yes FIAT sucks and it makes you poor in the long term but the thing is, you exactly know what you gonna get.

With crypto, there is too much uncertainly. Too volatile. So don't forget to take dem profits every once in a while.

[tvplus006]

...We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I would still change priorities, because if you can't make a profit, then you will have nothing to keep) Obviously, we are talking about how, as the price increases, it is necessary to fix part of the profit, which it is desirable to withdraw to fiat, so that life is more fun.

[mk4]

Ah, the classic take profit vs hodl.

There are simply some trades that are meant to be made in a short time span(hence taking profits early), and there are some trades that are made to be held for longer periods of time. There is simply no one-size-fits-all advice for this industry.

[Nrcewker]

Yes greediness really impact a trader’s profits. Due to greed, traders often forgets to cashout or sell the coins, for which they miss the potential profits and at last they end up making losses. The solution for this can be, if they set profit targets for each coin, then definitely they will sell at that profit point. In this manner you won’t be taking more risk and will be making at least some profits. Traders need to understand this concept clearly.

[traderethereum]

When greed takes over us because we want to get bigger profits, we may have lost the opportunity to take advantage of the profits that we should have gotten. However, many traders still make this mistake because they think the coin price can still rise so that their profits can increase.
They don't remember that market conditions can change immediately after rising high so they have to be wise in responding to it. If they want to profit, they must sell their coins immediately.
If they believe the coin can rise high, they can hold the coin to sell at a higher price. But once again, they need to know whether this can still happen or whether the price will experience a correction after reaching its highest price.

[snowpega]

<snip>

In my opinion, we should book some ratio of profit here as the market is in extreme level of greed, and Bitcoin already has broken its last all-time high, Well i have not booked any amount from any altcoin I am still holding them because any of them has not hit even single of my fixed target. I have booked some ratio of profit from two points first at the time when bitcoin was at $60K and second, when bitcoin was at the price of $68K all these profit bookings were done with the intention of buying back so that I can accumulate more bitcoin well till that time I am just watching the market to make it happen (correction of the market.)

Booking with the rasing of price is a very important thing as I remember one incident of my friend he had invested a good amount in one project and these days the market was in greed he did not book any profit using any booking strategy he just fixed to a certain point if the market will reach here I will book then market made a big down move and he has to face a good lose haha. So, I recommend bull season is on the way to make one good book strategy to overcome loss problems. in my case, I am using the DCA technique for booking profit. DYOR!

[crwth]

I think we are not yet at the hype of the actual bullrun because I think the people surrounding me, who are not that hyped about cryptocurrencies, are not yet asking me who has an idea with crypto. Before, when it was the bulll run, I experience that but now, I don't think it has that kind of impact yet even if we are near the ATH.

It can be a sign that it's not yet the peak but we can, however, see that we can take advantage of the green market. I agree that it's good to take profits.

[kentrolla]

Yes we need to have a strategy because I am someone who has been around crypto for a while but I have made this mistake numerous times as greed take better control over us and after a while we don't even start applying SL and I have lost huge amount in the past just because of difference of few points I think we need to aim for smaller profits with multiple trades and set up a smaller profit range and if the market is good like it's now we need to be active and play with multiple OCO range in order to avoid losing and maximizing the profits.  I am not much into trading now but will be back to trading and decide an strategy like I will keep aside certain ratio of profit separately.

[famososMuertos]

What you mention is something specific and it works at a certain moment, it is not the whole, obviously without money we do nothing, there is a phrase that is more assertive than a very misused one that is proclaimed as a "drug" to risk, and it is: "Do not invest money that you can afford to lose," it is the loosest phrase there is, since many confuse it with its true reality of use in investments. Anyway, the phrase that replaces that is "there is a tomorrow to invest, don't spend it all today."    (It is a vague essence of your idea in the OP)

What you mention is a circumstantial idea or strategy, it is not something that eliminates profit as an objective.

 Since if you maintain that idea over time you will not allow yourself to eventually have a tomorrow to invest, so profit is in fact fundamental, so you have to have yes or yes, profit and loss phases, but stay in "safe" mode It will not always save you from losses.

[Maslate]

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

You shouldn’t invest money if your priority is keeping it. Just put in the bank and wait for the annual income if your goal is survival of your asset rather than profit.

You should invest only what you can afford to lose so that you are free to take necessary risk to make profit. Taking profit is always a good idea since any form of profit is good. But your suggestion of prioritizing the safety of your asset first before the profit will just limit your earning potential since you will keep early selling when there’s price volatility that is normal in crypto.

Invest to make profits, not to safekeep your future profits. Otherwise, you will definitely keep missing opportunities to make profits because you are being greedy while waiting for the perfect opportunity to sell until you end up selling at a loss. I have been doing this way back then but I have only made little profits and the rest are just missed profits. So I don’t want to repeat the same mistake again most particularly that the market is unpredictable. Sell when there are potential profits, hold when there’s still none.

[Ndabagi01]

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

As a trader, you should be quick to take profits and quick to exit a losing trade, but often the opposite is what traders liberate on. We delay to take the profit and also hesitate to leave a trade when it is already going against us because of the feeling that it will come back and hit the TP. As you mentioned, trying to survive should take precedence over making a lot of money at a go or after a few trials.

It did happen to me countless number of times. The last one that I remember that caused me significant loss was when I was winning $45 already but I set TP at $50. The market later went down and I lost money a lot. As a trader, it is good not to be greedy.

This occurs when we have overconfidence in our analysis and believe it will undoubtedly hit the TP, but it does not always work out as planned. When I place a trade and, by chance, check to see if I'm already in profit while the market is still moving sideways or in doubt, I immediately exit and take the small profits I've accumulated. That will help not to result in a large loss while trading.

[Ben Barubal]

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

     The important thing as an investor is that you know whether you are a long-term or short-term holder. And when you know where you are in the two I mentioned, you should just stick there. Of course, if investors don't know anything about this field, they often enter in the long term.

     And of course, you should also have an aim price target for when you will sell it. and when it reaches or has reached your price target, sell it because that's a profit, and don't let the so-called greed get in.

[Hamphser]

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

The main reason on why people do really hinders out on not to take profits is that they are really that wishing that they could get those high multipliers specially if you are dealing on with those meme coins trading but if you are sticking with those top coins or alts then taking profits is also that something that you should really be baring up in mind because if you dont then it would really be something that gives out that huge regret and ive been able to experience it for how many times with this kind of situation on which ive been and i could say that this is really that something that you wont really be liking on be on such situation
again and again but well it cant be avoided sometimes because we are really hoping with that huge profits that we are seeking and this is why we do have this kind of approach.

[Oneandpure]

I had very bad experienced with holding my altcoin assets without try taking profit after raising up to the higher price and my dreaming will make most higher price in the future. I lost much profitable when keep holding some coins raise up to $5 from my investment price under $1 because faith with coins potential after listing on the top exchange will easily make new higher price later before my coins holding delist on top exchange the end way becoming scam coins without values yet.
Taking profit is very important for your investment assets, don't be greedy and high expectation with coins price pump because loss chance to take profit until price going drop and badly if your coins assets investment have be scam project in the future. Before losing opportunity take profit don't waste your time expected or dreaming will raise higher price, set limitation of profitable earn around 10% until 20% and don't too high dream earn more than 1000% profit for taking profit.

[stomachgrowls]

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

I've seen this happening each cycle.

We all need to understand that 1st priority in crypto is surviving. Profits are in 2nd place. Yes that sounds counterintuitive, but it's really simple. The real skill is not in making money. The real skill is in keeping it.

I hope you found this useful. Keep up the flow, and may the force be with you.

The biggest regret that i havent been able to do is into those ICO days on which the coin that i have been holding did pumped and that coin was came from a bounty campaign which it do only takes 4 weeks
to have that in signature and get that token which it pumped and i do make some profits or money costing $100,000, but guess on what happened? I have been that too greedy on which im waiting for it to hit
another x2 or 100% on which on the time that i do get caught by the dumped and able to cash out when its already $1000 on which this gives out that huge regret even up to now.
This is why it would be always important that you should really know on when to take profits so that you wont really be ending up on having that regret.

Somehow there are opposite side of things on which taking up profit too early could really result into that missed opportunity on becoming rich and this do happened to me sometimes or several
situations on which there's no doubt that this is why people do such things because they are really that hoping that they could make even more.