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Ajlovez7

Book profit or miss it ?

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I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

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46 minutes ago, CryptoJony said:

I think we should book our profits if it's small or big. Cause if we want to wait for more profits then we may face losses. So we need to avoid greediness and need to book small profits.

Yes greed will always make loss of human in every perspective. Booking profit and Withdrawing money at regular intervals is very good thing in trading.

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In my opinion, if you are going to store a currency, store it in a currency that offers you daily or weekly profits in exchange for storing it.
But I prefer daily trading allowance storage


 

Life is great and enjoy it

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Although greed can save you money in some areas of your life by avoiding ridiculous waste, it often works against you when trading in markets and investing. After all, greed can also be defined as fear of not getting anything. Therefore, the effect of fear on trading results is as devastating as greed.

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On 11/12/2019 at 11:17 AM, Ajlovez7 said:

Yes greed will always make loss of human in every perspective. Booking profit and Withdrawing money at regular intervals is very good thing in trading.

Yes i agreed with you .everyone want profit but forget about what they neccessary needs . The greed make people blind loss also being bad

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On 11/10/2019 at 8:34 AM, Ajlovez7 said:

I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

Yea I see your point because as a  newbie back in the day I used to make the same mistake of not locking my profits and leave the trade on for longer than it should which made me lose lots of money but now I always take profits even if its 5%.

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4 minutes ago, Ipal said:

I agree with you, we better get a little profit than having to lose everything, if we want to trade long-term better we use hardware to be safer.

We all want to book our profits but ita hard to knkw when exactly we should exit from a trade because whenever we see our coin jump 20% we hold and want to see it go higher which is why I never hold coins and be greedy.

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Better to do book profits, save some parts to the hardware wallet. In trade that often makes us suffer losses is greed. I have experienced where I should have made a big profit, but because of greed I even suffered losses.

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On 12/12/2019 at 7:20 AM, nasipadang said:

Better to do book profits, save some parts to the hardware wallet. In trade that often makes us suffer losses is greed. I have experienced where I should have made a big profit, but because of greed I even suffered losses.

I think the best strategy to follow is to sell your coins partially on your way up while the coin is pumping. Case in point is my waves position I bought at 7500sat and sold some of it at 8500sa then 8700sat then 8950sat sold the rest.

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On 12/12/2019 at 9:53 AM, Ipal said:

I agree with you, we better get a little profit than having to lose everything, if we want to trade long-term better we use hardware to be safer.

right to say and now a days the market is unpredictable and that is why this strategy is very useful for traders when they see that they gain little profit from the current market then it is very good for him than loss.

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Traders should book their earned profit before it is too late in trading. traders just need to set a realistic target of profit for their trade and after achieving their target they should not wait to claim their profit.

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I really need a plan like this, I mean putting some coins in a wallet for several years away from exchange so that I don't trade in them because frankly I can't leave my currencies in exchange without trading in them.

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On 11/10/2019 at 11:34 AM, Ajlovez7 said:

I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

Yes its also my friend  she buy and give coin this profit but he still waiting no its going more up and coin is down and she say you say right I sell my coin on time.

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On 2/1/2020 at 2:20 PM, arslan45 said:

greed=loss in trading the more you greeding the more you lossing so be carefull

True, we should try to cut of our greed from trade and take profit with out greed.

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On 11/10/2019 at 7:34 AM, Ajlovez7 said:

I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

I think you make a good point but if you're not an experienced trader it's hard to recognize when you need to take profit. I've tried it several times with limited succes.


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This is right and what you talked about is an really important thing in trading

the best way to do it is to make a goals for every trade you make

and after reaching any goal you book the profit

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I use the Take Profit order which allows the trader to close his positions automatically when the prices reach a predetermined level in which the trade is profitable. Take Profit order is an order that determines the amount of profit in a trade that you want to open or have opened previously.

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I agree with you and we must come out with any profit better than selling at a loss, and this is not easy, we must rely on risk management when trading.


 

 

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If you earn enough profit in trading and immediately become greedy the effort you exert in doing it might just lose, yes in the first you might earn big profit but if the greed overtake you, all the profit you earn will just become waste. 

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That will happen if you do not have a target price for you to sell you will become more greedy every time the market started to pump, so you better do a good plan.

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On 11/10/2019 at 11:34 AM, Ajlovez7 said:

I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

Yes this is a bigger mistake in trading. The stop loss method could be used in this situation to avoid losses and also with this method we could hold the coin till the time we want.


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A trader must, before entering into any deal, set his goals in advance, so he should not be exempted from the deal except when his goal is reached. Failure to comply necessarily leads to a loss.

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On 11/10/2019 at 12:04 PM, Ajlovez7 said:

I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

I agree with your point of view that we should collect small profits time to time instead of running behind big profits because greed of big profit always put us in loss. This is the main reason why people fail in trading. 

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On 11/10/2019 at 11:34 AM, Ajlovez7 said:

I have seen many people's who are in profitable situation but still waits and become greedy for more profit but eventually they loose the opportunity of profit & when the assets goes down they sell in loss. This is the biggest mistake I have seen in newbie Members. So I would always advice that try to book PROFIT everytime at specific intervals & yes if u wanna hold for long term then try to make another portfolio of long-term coins, and keep them in hardware Wallets where u will hold them for 5years without Trading in them.

This is notce to get the profits

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On 11/16/2019 at 4:42 PM, IrinaLavrinova said:

Although greed can save you money in some areas of your life by avoiding ridiculous waste, it often works against you when trading in markets and investing. After all, greed can also be defined as fear of not getting anything. Therefore, the effect of fear on trading results is as devastating as greed.

If we want to wait for more profits then we may face losses. Therefore, we need to avoid greed and need to make small profits. You book a profit or miss it. Some exchanges do not have the benefit lock feature. So you sell the position and buy a new position there

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