Quote from: Viscore on March 17, 2024, 09:12:04 PM

Quote from: Issa56 on March 13, 2024, 10:03:11 PM

Quote from: Joseph-P on March 07, 2024, 03:13:08 PM

When we are at Extreme Greed you need to be taking some profit off the table. Most people in crypto fail to keep the money they've made. They either sell too late or they selfishly watch all profits fall back to zero.

If you are a trader and you don’t know when to take profits, then you are hardly going to make profit from trading, because you won’t leave the market when you are suppose to leave, you will want to get more profits, till price of coin start dumping before you will start struggling to sell. Some will lose all their profits and will still lose some of their capital, just because they don’t know when to sell, and mostly we shouldn’t be greedy, always take profits even if it’s small, their is no crime in taking profits. But if you think your profits is too small, and you keep on waiting for it to increase, things doesn’t go as planned always.

Greed has no room in trading. If you trade just because you aim to be instantly rich, that will definitely hard to be realized if you don’t know when to take profits even the smaller portion. Note that profits should not always be huge for you to start taking it, regardless of its amount, you should learn to be satisfied at some point and take it, otherwise you will end up losing all your patience while waiting for massive profits, and yet the market still end up dumping. And now you end up regretting wishing you were never greedy in the first place.

If an individual traders motive is to get profit in a moderation way, and have target amount even if it is small value only, the greed won't get space in his mind for sure due to trader knows how to control His emotion when the right time of selling is necessary.

In this method, traders can able to do to stop when He/she saw that profit is already comes in, were trader can deside to take it out his earnings and not thinking the price will go up more.