Ninjastic
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Board Trading Discussion
Re: what profit do you need to close the long position?
by
BitcoinHunt3r
on 10/10/2018, 21:26:07 UTC
Quote from: wxa7115 on October 10, 2018, 09:08:20 PM
Quote from: GregH37 on October 08, 2018, 09:38:44 AM
Quote from: Tory-Tory on July 21, 2018, 06:43:58 AM
If you are a long-term holder, what profit do you need to close the position?
For example, I need a minimum of + 400%
I don’t understand the numbers you wrote there, maybe you meant to say 40%. Cause I don’t know why I should wait till 400%,like how long are you going to wait for that? Even 10% is good if you’re not going to be acting greedy.

Unless in terms of Hodling, then that one has no limit to what percentage I can get. But as for trading, you’re taking every opportunity you see to avoid loss, cause everything might go wrong and you will lose m, unless you setup stop loss, even with stop loss you’re still going to lose some money.
Everyone has their own philosophy when it comes to trading and investing, personally when I trade I do not have a fixed number in my head about the profits that I want to get because I cannot control how the market moves, in the best case scenario I can grab the profits that the market can give to me and nothing more, so if the market is only giving me 1% in profits instead of 400% I'm going to grab that 1% even if it's not much.

I know that many people do not agree with that philosophy, but I feel that trying to force you to get a particular number when it comes to profits is only going to add risk to something that is inherently risky as trading and since I prefer to not take too many risks I will grab whatever I can get.
Maybe because OP talk about long term investment and not day trading, in day trading even only less than 10% is good to pick and take our profit. But if people target less than 100% profit in long term investment, they will only waste their time.