๐ง ๐ธ Most traders miss their take profit because they let greed take over. You see profit and think, "just a little more!" Then the market turns. I learned this blowing up my first $600. Professional traders plan their exit *before* they even enter.
There are two main ways: a hard TP or scaling out. A hard TP is simple: you buy BTC at $60,000, your target is $62,000, and you set an automatic sell order there. Itโs set-and-forget. Scaling out means taking profits at multiple levels. Maybe 50% at $61,000 and the rest at $62,500. This requires more discipline but can capture more upside.
The key is setting these targets *before* you open the trade. Identify resistance levels, Fibonacci extensions, or previous swing highs as your profit zones. This objective planning removes emotion. Your...
There are two main ways: a hard TP or scaling out. A hard TP is simple: you buy BTC at $60,000, your target is $62,000, and you set an automatic sell order there. Itโs set-and-forget. Scaling out means taking profits at multiple levels. Maybe 50% at $61,000 and the rest at $62,500. This requires more discipline but can capture more upside.
The key is setting these targets *before* you open the trade. Identify resistance levels, Fibonacci extensions, or previous swing highs as your profit zones. This objective planning removes emotion. Your...