Issue 58 – How to Lock in Profit on Winning Trades

August 24, 2021


With cryptos rolling over today, I figured it’s a great time to write about the importance of taking profit as a trader.

I’ll discuss why taking profit is such a challenge for most traders and share exactly how I do it. We’ll then wrap things up with updates on BTC, ETH, LINK, DOT, and SOL.

Let’s get it!

The Difficulty of Taking Profit

Taking profit is one of the most difficult aspects of profitable trading. The thing is, you don’t realize just how challenging it can be until you’ve blown an account or two.

Why is it so difficult?

Because your emotions get in the way, it’s too easy to second guess taking profit simply because you don’t want to miss out on the potential for even more money.

At the same time, you know that if you don’t book profit, there’s a chance it could all disappear if the market reverses on you.

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Justin Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast. My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig. The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight. Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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