Taking Profits in Crypto: Trader Explains

In this video, I wanted to talk about when to take profit and when to get out for a loss.

The topic of when to take profit and when to take a loss is one of the most important things about trading. Unfortunately, there isn’t a cookie cutter answer to this topic. There’s not necessarily a correct answer but there are a lot of wrong answers to this idea of when to take profit.

Every single trade that you are in, you need to have a plan. You shouldn’t begin a trade and not know what your plan is. When you enter a trade, you cannot trust yourself. You should build out a specific plan and then execute it once you’re in a position.

The main idea is whatever style of trading you’re involved in, you need to have a plan before entering into a position. Plan your trades and then just work your plan.

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DISCLAIMER:
CRYPTO CURRENCY INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS, PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.