Post
Topic
Board Altcoin Discussion
Re: How to take profits?
by
BAGOBO
on 20/08/2022, 23:16:46 UTC
For day trading I used to take my daily profit. And always keep a fixed amount for investment. Sometimes I don't face any profit in day trading and even if the loss is small, cause I currently use Binance's stop limit option.  So that in case of loss, I can recover it later.  It has happened to me many times in the beginning that after seeing some profit, I re-invested with that profit and then faced a good loss.  So currently I keep a fixed amount for day trading from which I can spend my hands with profit.
Trading for daily gains is very risky because we take advantage of repeated price movements to buy them at the daily lows and sell them at the daily highs, but the risk is that if the market declines significantly at that time you will look for high losses. So day trading is very risky due to the market impact of the volatile Bitcoin price.