Post
Topic
Board Trading Discussion
Re: Taking Profits
by
perfect999
on 07/11/2021, 21:34:39 UTC
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.
Mostly, we have no idea when to take off and stop this trade. Because, it is not easy decision, but we need to check all ways of market when we have some better profit than we can take and then still have eye on this all because if this reach on some stable level or fall then we can jump again which will help us for having some good exit and entryway for this profit.

Mostly members with some good strategy take profit at resistance and make new support buying for another entry and having better profit on this trade. This all requires some good intention patience and trade without any emotions, otherwise you are down and out.