Hello, what is the best way to take profits? I'm confused if I should take my seed out and leave my profits to climb, or if I should take profits out every time the price climbs 25% to 50%? Which way is more profitable, or does it even matter?
If I leave my profits in the trade would I be making more money then if I were to take profits out at every 50% price gain?
I use to believe in long term holding but not any more though this worked for early crypto adopters....today i think the most profitable strategy is to keep scaping for your profits. Just as forex you could apply a risk management strategy of say risk 5% of your portfolio on each trade and for take profits on lower time frames, a 1-10 Risk to reward should be very possible to collect if you are an aggressive trader or if you want to play it safe a 1-3 should be very much possible to attain....and within 50 trades or so taking into account of some losses you should be able to double your portfolio.