Post
Topic
Board Beginners & Help
Re: do not exceed your targets
by
Franctoshi
on 22/04/2023, 14:01:17 UTC
I have learned something so important in the previous bull market that got to about $30k . When the price of bitcoin was $21k I bought some bitcoin and after getting this amount of bitcoin I had target if it gets to $30,000 I will take profit, luckily it got to the price I was targeting but I was reluctant to take profit like I planned thinking the market price will go beyond $30,000 to get more profits but unfortunately the price didn't continue to increase,  but I'm not worried about that because I know the price will definitely increase again and I will get my profit of target.

Every investor/traders should have a take profit plan for its portfolio, so as the price an asset keeps growing you will be taken out profit gradually out of the market, than keeping the whole stuff and waiting to take profit at once until when gets to a particular price level  before you could take out profit.  For me my profit taking strategy starts with as follows 30%, 50%, 70% and finally 100% off the market, When there's a clear indication that the market wants to take a reverse.