Post
Topic
Board Trading Discussion
Re: Always take profit
by
AicecreaME
on 27/12/2021, 12:31:31 UTC
Have you considered taking profits of $1-3$ repeatedly throughout a trading session it might sound small for professional traders but it would go along way in growing an account most especially for beginners. If a trader cultivate the habbit of taking profit during trading he would have an upper hand over the market and also get clearer pictures of better entry points and also be on alert on when to exit especially during retracement.

$1-$3 profits ain't that bad if you're scalping, but if not, this is too small to be called profit, especially if you spend too much time on a certain technical analysis for a certain coin. Yes, I do agree that taking profit is important because that's what we need to keep on trading but we must not get easily faze by a fake out and take the $1-$3 profit. Setting a stop loss is also important, that would help us to minimize our losses as much as possible.