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?
You need to develop a plan when you need to take profits. There is no hard and fast rule that you have to take profit in chucks or you take all profit at once. Everyone has difference preferences over different trades.
Normally. i prefer to use trailing stop loss, this way as the price of the coin moves up i keep on moving the stop loss. This way i take maximum profit and also don't miss out on profits by selling early.