Post
Topic
Board Trading Discussion
Re: How do you handle losses in trading?
by
Bright_dhykseen
on 30/05/2020, 12:00:58 UTC
Knowing when to take profits is a skill on its own.
Greed effect sets in every now and then. Just focus on a reasonable target.

Yeah, and it's really hard to learn it, others have experience but it's not a the only thing that will let you know when to get out. I guess one strategy that I use is to have a exit plan, at least if I have achieved my it, I will simply get out and not look back.

No regrets whatsoever if the price continue to increase after I sold off. It's not the nature of crypto, very volatile and unpredictable. And you mentioned greed, yes, that's another emotions that we traders need to get ahold of. We should unless not to get carry but this emotions because in most cases it will spell between a successful trade and profits and losing more money in the end.

Exactly!. Take your profit and don't look back!