Take Profits! Its important!

[Sophokles]

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

[Yamifoud]

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.

When you are in that situation (extreme greed) I don't think you still think of taking a small profit but certainly thinking of a huge amount.
Too much greed will never end well other than regrets. As a trader, we can't be foolish and think we could earn more but instead, take the opportunity even if it was just small amounts.

Many people fail because of too much greed, not only because they lack knowledge and skills. Earning small every day is better than every big once in a month.

[Awaklara]

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

actually, it doesn't need to be that difficult to make a peak target. All that needs to be done is to be consistent with the analysis that has been carried out. When investors experience a lot of doubt in determining the peak price from their analysis, it shows that the analysis carried out is not very strong and there are still doubts.
Focus and consistency with what has been analyzed, that is the best key to continuing to make a profit without feeling regretful about the targets you have made or the decisions you have taken.

[Bloodseekers]

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

actually, it doesn't need to be that difficult to make a peak target. All that needs to be done is to be consistent with the analysis that has been carried out. When investors experience a lot of doubt in determining the peak price from their analysis, it shows that the analysis carried out is not very strong and there are still doubts.
Focus and consistency with what has been analyzed, that is the best key to continuing to make a profit without feeling regretful about the targets you have made or the decisions you have taken.

It is true what you said, those who have not been able to properly analyze market conditions will of course have doubts in determining the peak target for the investment they make and if they are able to determine the peak price in analyzing the market, of course they will be able to know the exact time. right to be able to get a profit from their investment, so it is very important for those who want to invest that they can set their investment targets without doubting the results they will get.

[LogitechMouse]

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.

It's been in my mind for years already but still, thanks for reminding me.
For sure, this kind of advice helps one or two investors out there who might forget to create their selling strategy for the upcoming bull run.

I didn't sell all of my assets way back in 2021, and what I did is to just watch the markets go up, and of course, watch the markets go down as well. I don't want to call myself greedy because of that decision, but I would say that it will be one of the most disappointing decisions that I've made in my investing journey.

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.

1st priority in crypto is surviving. No, it isn't. It's knowledge. If you have knowledge, you will learn how to survive in the crypto market. If you have knowledge, you can make better decisions that will make you survive and lessen your losses. Profits in 2nd place? It's kind of connected because if you have knowledge, you will survive and therefore, you can make more money. Knowledge is what you need for you to survive and make money as well.

Overall, this tip will help newbies out there. Still, thanks for the reminder.

[Dzwaafu11]

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.

These things are happening to many cryptocurrency enthusiasts, especially those who are active in trading cryptocurrency. Most of the time, they lose due to a lack of understanding or not being able to control their emotions, which is really affecting them in the market. Although some of them, due to insufficient knowledge, don't know what to do that will help them in some points, so they lose money. And again, greed also contributes to many people's losses, so it will be good if some people take their eye off of too much profit. They should just do it in a way that will favor them because too much expectation may land people in losses.

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

All these are greedy, which I can say is one of the hardest things to escape in the market of trading cryptocurrency, but to me, traders can do this as long as they want to succeed in their journey by using the strategy that suits what they are looking for as profit. However, they should know these so they won't be losing all the time. There is no legit thing to use that will help; it is our knowledge and skills that will be used to succeed. 

[ajiz138]

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

[Woodie]

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 don't think this theory of selling whenever a profit is available is practical for everyone because people own crypto for different reasons, say for example inheritance for their kids or family, or use it as a way to counter inflation or probably og believer of cryptocurrencies...

This whole notion of getting profits out aren't for everyone unfortunately,if you can do do and if you can't keep holding.

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.

I guess this message fits in well for traders such as those involved in leveraged trading, or charting and I agree with this.

[Cookdata]

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.

99% of people that comes invest in crypto are short term investors that are hoping to sell at the top but most them end up with nothing or even have the initial capital they invested. Instead of some of them to sell and take their minimal lost, they watched their investment wash down most especially the people that invested in altcoins. These coins seems to be the most profitable coins in every bull run but when they collapse, the damage is more than what you can make in a year.

Take a significant profits when you have achieved much or just remove 50% of what you have gained together with your investment. If the rest appreciated again, sell another 50% of profits and leave the rest. By the time you observe some anomalies in the market, kindly sell the rest and sit back. If you study the market and it's suitable enter again, repeat the process but if the market becomes bloody, stay away a while and come back when you think it's okay to invest again.

[mirakal]

It is the most important and hardest thing, in my opinion. Many people manage to invest in the market at the right time but forget to book their profit. Most of the time they don't know when or how to do that. It is true that there isn't any true indicator that can tell you about the market peak, but there is some management strategy that can be used to take profit from the market in a orderly manner so that no one misses most of the profit. Partial profit booking is something that can be used to effectively do that.

Taking profits would be easier if there’s no presence of greed. But with the the high potentials of bitcoin to reach more profitable value in the future, it’s normal for a human to develop one’s greed and chose to prolong its hodling believing that bitcoin price will continue to rise consistently more often, but fail to realized that bitcoin is highly volatile, any moment bitcoin price may plummet again and drops it value to its dips.

This is the reason why taking profits most especially when the market is preparing for a bull run is very hard to do.  However, having wrong decision is not bad at first, that way they will learn their lesson and will be wiser already once they invest again in bitcoin.

[Vinaa77]

Taking profits would be easier if there’s no presence of greed. But with the the high potentials of bitcoin to reach more profitable value in the future, it’s normal for a human to develop one’s greed and chose to prolong its hodling believing that bitcoin price will continue to rise consistently more often, but fail to realized that bitcoin is highly volatile, any moment bitcoin price may plummet again and drops it value to its dips.

This is the reason why taking profits most especially when the market is preparing for a bull run is very hard to do.  However, having wrong decision is not bad at first, that way they will learn their lesson and will be wiser already once they invest again in bitcoin.

If someone cannot control themselves in investing, of course they will always be greedy with the things they do and also in investing after the profits they have gotten from those investments, but they choose to postpone the profits they get in the hope that there will be a higher increase. Again, with bigger profits and when they experience a decline, of course they have to wait a long time again to be able to take advantage of the profits they have missed.
Yes, of course, every time we make a wrong investment decision, we must be able to correct and find out the mistakes they made and must study again so that we don't repeat the same mistakes again.

[Julien_Olynpic]

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.

This is a good example of the fact that you should definitely take paper profits, but the strategy for taking paper profits must be smart. Indeed, take profit is not the most perfect tool for taking profits. It has significant disadvantages: firstly, the price does not always reach the take profit. And secondly, very often the take profit closes the position too early. After taking profit, the price often goes up many more points. But what is better than take profit? I believe that a trailing stop is better than take profit. In addition, you can tighten the stop with your hands following the price. As soon as a bear market begins, your trailing stop will definitely be triggered.

[Dr.Osh]

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

This seems to be an experience I keep repeating. Even now, I still often do the same thing. Even though you have made quite a profit, you still have the feeling of wanting more and you keep holding onto the coins in the hope that the price will be higher. As a result, the price dropped badly, and I regret it.

Even when we understand that taking advantage is important, when we face this situation, the feeling of greed will continue to exist. I agree that if you want the long term, then bitcoin is the choice. Meanwhile, for altcoins, if you have made enough profits, immediately secure your main money, or take all the profits.

[Hyphen(-)]

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.

Most short-term investors are greedy; they come for quick money, which is why they will want their profits to go up before taking them, and as we all know how greed is affecting such investors, before you know it, the little profit you don’t take will turn into a loss.

Taking your profit anytime you get little is the most significant thing that shows that you are not greedy; you can reinvest again in another coin and get another profit than watching the profit go.

This bull run, we will see many people claiming to be investors, and most of them are just here to get quick money. If some of them who are greedy lose money, they will start complaining that crypto is a scam, and some of them will go ahead and invest in projects they don’t know anything about. If they lose money in that project, they will generalize it by saying crypto is not paying or it is a Ponzi scheme just because they failed to do the right thing.

[Asiska02]

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.

Good advise and for most traders, they don't trade in this manner. A lot of greed lives in the mind of many traders and that have made them lost a lot of profitable trades that were initially in big wins for them. What many don't get to understand in trading is that; learn to trade today and come back tomorrow to trade more, it will make you a better trader and not allowing the market to reap you off your money because you don't know how to employ risk management while trading.

Firstly, every traders intention when they joined trading is to make profit but today, they delay to take profit and quickly exit the trade when in loss as  trade is still in process. If traders will learn how to take profits early and exit a trade already on negative trend early, most of them will be profitable and if they are not, their losses from trade won't be that much that they will discouraged not to trade again. Greed and unprepared mindset to align with the flow of the market will only make it harder to become a better trader.

[Kelvinid]

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.

Good advise and for most traders, they don't trade in this manner. A lot of greed lives in the mind of many traders and that have made them lost a lot of profitable trades that were initially in big wins for them. What many don't get to understand in trading is that; learn to trade today and come back tomorrow to trade more, it will make you a better trader and not allowing the market to reap you off your money because you don't know how to employ risk management while trading.

Firstly, every traders intention when they joined trading is to make profit but today, they delay to take profit and quickly exit the trade when in loss as  trade is still in process. If traders will learn how to take profits early and exit a trade already on negative trend early, most of them will be profitable and if they are not, their losses from trade won't be that much that they will discouraged not to trade again. Greed and unprepared mindset to align with the flow of the market will only make it harder to become a better trader.

We won't survive in trading if we never earn a profit. Unless our intention is to just spend our money for nothing. Of course, it may not be that easy to get a profit at the start which is why we need more money to back up but if this will take longer time and already drained our reserve, I don't think we need to continue. We just survive from this when our profit would also able to sustain the needs in trading, not from our personal wallet anymore. Otherwise, we make trading as other expenses which in fact, the purpose is to consider as other sources of income.

[KingsDen]

"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.

I have read a few replies from people and they are all in agreement with Op. I have thought that OP made this topic because of the recent surge in the price of bitcoin. But lately did I remember that this is trading board and the post was made for trading purpose and not for long term investment purposes.

If I have been holding bitcoin for a long time, maybe throw DCA, this might not be the best time to take profit because it seems that the future is just brighter for bitcoin. Taking profit now might be too early.

[freedomgo]

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

I guess we all have experienced things like this because of greed and misconceptions about bitcoin and even to the rest of the crypto coins. But one huge loss is enough for a wise investor, so he won’t repeat the same mistake again and still end up losing.

The challenge here is not actually to maximize our future profits, but controlling our greed in order to take profits when the market is capable to, and knowing when to keep on hodling while others are greedy to sell.

[dunfida]

I have experienced where when I have made a profit but it continues to be ignored because I believe the profit level will increase but what happens is that it goes down to the lowest value as a result there is regret why not take advantage at that time, but I realize that it is greed that humans have experienced.

The only one wants to take long-term profits by simply HODL Bitcoin that's all.

But we have experienced where choosing several altcoins in the hope of more profit which can be said to be a quick profit in the short term but often does not have a sales target with no management, everything will be a mess.

I guess we all have experienced things like this because of greed and misconceptions about bitcoin and even to the rest of the crypto coins. But one huge loss is enough for a wise investor, so he won’t repeat the same mistake again and still end up losing.

The challenge here is not actually to maximize our future profits, but controlling our greed in order to take profits when the market is capable to, and knowing when to keep on hodling while others are greedy to sell.

Once you do gain up that experience then it would really be impossible that you wont really be able to make yourself learn out of those mistakes that you've been able to commit out. This is something that a very part of trading on which loses is really your best teacher and on the time that you would really be experiencing those unfortunate conditions then you would really be normally be adjusting into that on which this is really just that common sense. This is why it would really be always better that you should really be that adaptive and versatile once you do hover yourself towards the market on which there would really be no guarantees
about making profits.

You would really be needing to adjust accordingly if you have seen that you are really having that high chance of lossing on which we know that
this is something inevitable. If you wont really be making out those adjustments then you are really that bound into such disaster and this is something that we must avoid as much as
we can.

[armanda90]

Decision or target from trading or investing is take profit, I don't know why many people not prioritize for taking profit after getting moment with their investment assets increasing high value. Current bitcoin and altcoin volatile and we can't predictable with the price keep on the higher is the right moment for taking profit and buy back later when get correction moment.
Not always the holder is the winner regarding how many coins dump drastically after success raising the highest price and most of altcoin following with the bitcoin price, if get crash you can't stopping altcoin will going dump and its very important how to take profit since get the opportunity.
Most of trader loyal hand keep holding their cryptocurrency assets after raising more profitable until price going dump will disappointed why not sell when getting moment in the higher price?