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Advice
What to do after making a profit?
After making profits, many fall into two mistakes: either leaving all the profits in the market or withdrawing them all. Here's a better strategy.
Withdraw your initial capital first
Once you make a profit equal to the capital you started with, withdraw it immediately. For example, if you invested $100 in a currency and it became worth $200, withdraw the $100 you invested. This way, you are now trading with "free" money (or just profits), which reduces psychological pressure and makes any potential future loss less impactful on your personal finances.
What to do after making a profit?
After making profits, many fall into two mistakes: either leaving all the profits in the market or withdrawing them all. Here's a better strategy.
Withdraw your initial capital first
Once you make a profit equal to the capital you started with, withdraw it immediately. For example, if you invested $100 in a currency and it became worth $200, withdraw the $100 you invested. This way, you are now trading with "free" money (or just profits), which reduces psychological pressure and makes any potential future loss less impactful on your personal finances.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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