The Best Advice I Ever Got From a Pro Trader (And Why It Changed Everything) đ
When I first started trading, I was all excitedâbuilding my portfolio, buying coins, and dreaming of big returns. I thought I was doing well until I talked to a friend who has been a successful trader for years.
âWhatâs your profit-taking strategy?â he asked.
I said, âI donât know yet.â
He looked at me in disbelief and said, âThen youâre going to fail. You canât just buy and wait. Whatâs your planâ2x, 3x? Whatâs your exit strategy? I donât see one, and thatâs a problem.â
His words stung because they were harsh, but they hit home the truth.
đ„ What I Learned (The Hard Way)
đ° 1. Always Have a Profit Target đŻ
If youâre buying without knowing when to take profit, youâre setting yourself up for emotional decisions later.
â Example: When I bought Ethereum $ETH , I set a target to sell part of my position at Ă2 and stuck to that plan. This saved me from second-guessing myself during price dips.
đ 2. Sell Slowly, Don't Wait for the Peak âŹïž
Nobody sells perfectly at the top. It's better to take profits in chunks.
đĄ Tip: Take 25-30% off your position when you hit 1.5x or 2x gains. I applied this when trading Cardano ($ADA ), and it helped me lock in profits even through market swings.
đ§ 3. Have a Plan for Every Scenario đ
What if the coin doubles? What if it drops 50%? Write down your plan and stick to it.
â Chainlink $LINK is a solid project that I've held for the long term, but I still set profit targets in case of a sudden spike. đ The Bottom Line: My friendâs straightforward advice has saved me from countless bad decisions. Trading isnât just about buyingâitâs about knowing when and how to take profits.
đ„ Whatâs the best (or toughest) trading advice youâve ever received? Letâs hear it! đ