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/biz/ - Business & Finance

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22359979 No.22359979 [Reply] [Original]

Daytrading & Swingtrading frens, when do you take profits? I mean of course it depends on the trade and the meme lines. But do you have something in mind? 5%, 10% ?

>> No.22361175
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I push 10 usd into the cheapest every 48 hrs so I dont time the bottom. I pull 10 usd from the most expensive so I dont time the top. This will ensure I always buy low sell high.

As for the profit, depends on the market condition. If btc is volatile, then i will lose lots of unrealized gains. If altszn, my profit margin keeps on growing.

This strat is not as good and fast as finding a gem tho. It is very time consuming to wait for the cheap to reach the expensive spots.

>> No.22362072

You want to cut losers quickly, but let winners run.

Your first sell should be 2-3 times higher than the distance of your entry to your stop. Move your stop to the new recent low every time the coin moves higher. When you get to the first sell, sell half, and let the rest ride all the while raising your stop to recent lows, leaving enough wiggle room, but also not risking too much downside. If you trade this way you will make a profit even though you lose 50% of your trades.