I can have extra chicken tonight! Finally made some real profit with this move.
With the market being so tough, I’m already content with making a small gain. No greed, take profit when it’s good—after all, there’s an interest rate cut expected on Thursday, so this rebound is probably just temporary.
But to be honest, I’m still struggling: what’s the best price point to sell? I used to hesitate too much, but now I’m forcing myself to be decisive—exit when it’s time, don’t drag it out.
Looking back, why did I always lose before? When the price was rising, I always thought I could make a bit more, but ended up getting stopped out on a reversal. When losing, I’d stubbornly hold on, only to get liquidated in the end. Trading is really a grind. Now I can only build up experience bit by bit, slow and steady—little streams make a river.
How do you guys usually set your take-profit points?
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LiquidityOracle
· 12-08 10:52
I agree with taking profits when you can, but when the moment really comes, you still have to grit your teeth and take the loss—easier said than done.
Speaking of rate cut expectations, if it actually happens on Thursday, it might turn out to be a trap instead, and a sudden pullback could catch people off guard.
As for profit-taking points, I usually just set a psychological price target—once it’s hit, I cash out and don't look back.
That's just how this business is; even making a little money is worth celebrating for a while.
The key is still discipline, otherwise you'll end up repeating the same vicious cycle all over again.
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TokenomicsDetective
· 12-08 10:45
Me too, as soon as I make a profit I want to run, but then I get shaky and mess it up.
It's easy to say "take profit when it's good," but when the price hits, greed sets in.
I'm not so sure about the rate cut on Thursday either. Anyway, now I just set a take-profit and get out—don't wait.
That's a good question. Basically, I bail when I'm up about ten percent, just to avoid unnecessary risk.
Haha, it's really all about mental discipline. Only after losing do you realize how painful it is.
My way is to place the order immediately once it hits my target price—don’t give myself a chance to back out. Otherwise, I’ll get stuck again.
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ProbablyNothing
· 12-08 10:33
This rebound before the rate cut is indeed a trap, it's smart to take profits when you can.
You only understand after getting burned—greed is the biggest killer in trading.
Set a take-profit point? I just set a fixed percentage and that's it, saves me from overthinking.
Said I wouldn't hesitate, but I still do—can't seem to fix this problem.
A small profit is still a profit, much better than a big loss; slow accumulation really works.
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SelfCustodyBro
· 12-08 10:28
Bro, you really have to seize this rebound, but don’t be greedy. Once the rate cut hits on Thursday, the market could dump.
Taking profits when you can is key—that’s something I learned the hard way too.
I usually set my take-profit point at the support level; if it breaks, I’m out, no hesitation.
Experience can only be gained by getting burned time and again.
Hope you reach financial freedom soon, brother.
I can have extra chicken tonight! Finally made some real profit with this move.
With the market being so tough, I’m already content with making a small gain. No greed, take profit when it’s good—after all, there’s an interest rate cut expected on Thursday, so this rebound is probably just temporary.
But to be honest, I’m still struggling: what’s the best price point to sell? I used to hesitate too much, but now I’m forcing myself to be decisive—exit when it’s time, don’t drag it out.
Looking back, why did I always lose before? When the price was rising, I always thought I could make a bit more, but ended up getting stopped out on a reversal. When losing, I’d stubbornly hold on, only to get liquidated in the end. Trading is really a grind. Now I can only build up experience bit by bit, slow and steady—little streams make a river.
How do you guys usually set your take-profit points?