What amount of profit will make you to take a brake till the next day.

[Dr.Bitcoin_Strange]

I created the topic "Don't get greedy, Just take the already earned profit and leave." While some people agreed with what I said and contributed more idea too. My experience just some days ago and the comment made my some members on the other thread, lead me to create this topic which can still be discuss on even while discussing is still on on the other topic.

So, I was trading some days ago, after investing $100 on the trade, I tried the first posting and took profit after I got about $30, enter another position and took profit of $28 but the last position I entered took almost all the profit I made that day.

From the first two initial position, I made about $58 but the third time I decided to try again, I lost the $58 profit. What I learned is that a trader should set a target for the profit they wish to earn in a day to avoid over-trading which can actually lead to loses.

My question now is, what is the amount of profit you will earn in a day before you will be comfortable to take a brake till the next day?

After I lost my profit, that was when I realized that $58 is really a big amount of money in my local currency which could have been a big amount to earn in a day.


Share your opinion.

[joniboini]

I'm not a day trader per se, but I set my swing trading target at about 20% of my initial investment before I exited my position. Obviously, things can change depending on how the market behaves, but 20% as a target for a week or a month is not that ridiculous. If I have a lot of capital though, maybe I will lower my target as long as the market is liquid, since earning $1k per month is a lot already even if it means only 5% of my initial trading capital.

[Mr. Magkaisa]

I'm not a day trader per se, but I set my swing trading target at about 20% of my initial investment before I exited my position. Obviously, things can change depending on how the market behaves, but 20% as a target for a week or a month is not that ridiculous. If I have a lot of capital though, maybe I will lower my target as long as the market is liquid, since earning $1k per month is a lot already even if it means only 5% of my initial trading capital.

1k in monthly earnings is a lot of money; do you always earn that, mate? If you can maintain that every month, that means you are good at trading and have a deep understanding of it. I honestly wonder if I can maintain that kind of earnings from trading here in the crypto business, and I am pretty sure that I will be able to reach my dreams in life little by little.

Right now, I'm making just enough money from trading here in the field I belong to in cryptocurrency. I still need to continue my education here in the world of crypto.

[bounceback]

Current your capital trading amount have reached profitable more than 20% I think is bigger fund and no doubt to take profit, earned more than 20% profitable regarding your amount for trading seems bigger but bad ideas if not take profit and waiting to earn profitable more than 100%. Yesterday I started with future trading and bring capital around $20, used leverage x20 and each time open position earn profitable around $5 and take profit until my capital have been raise $100.
Not be greedy exactly with future trading and have been enough taking profit when raising more than 20%, I have limitation if earn 10% its seems enough for taking profit.

[KingsDen]

My question now is, what is the amount of profit you will earn in a day before you will be comfortable to take a brake till the next day?

Just have a daily target and once that target is met, just take a break and end trading for that day. This will enable you to avoid what is called over trading. But you have to also note that ending trading that very day doesn't mean you cannot lose when you trade tomorrow or next.

The essence of advising you to stop when you hit your target is to enable you enter the market with a fresh mind next day so that you won't be carried away by excitement and make wrong decisions.

[Vx1]

Usually, when people trade and get big profits, it will be difficult for them to stop and will continue to add more profits, even though that is the wrong way because the profits we got previously could turn into losses. 
I'm not the type of person who likes to day trade, because cryptocurrency itself is just a side job for me. 
However, I think a 20% profit from the initial capital is enough to stop and continue trading the next day.

[jeraldskie11]

I believe in the saying that "small profit is a profit". But sometimes we have to follow our analysis, if we back tested our strategy very well definitely will make you profitable in a live trade if you are a disciplined person that knows how to handle emotions. Personally, even though I trust my trades, sometimes it's best to take a profit even though the price haven't reached your tp area, it's a clever decision for me and it really working.

[Faisal2202]

From the first two initial position, I made about $58 but the third time I decided to try again, I lost the $58 profit. What I learned is that a trader should set a target for the profit they wish to earn in a day to avoid over-trading which can actually lead to loses.

I learned this lesson when I gave up on trading, actually I also made good profit in a single day in future and I really made profit in my all trades that I made that day, but it was sunset time and I thought I should take another trade and that was my only mistake because I did not set my profit limit or trade limit, and thought I should gain more profit, actually the market was going up so considering the situation I was taking long positions, but end losing all the capital and profit both.

My question now is, what is the amount of profit you will earn in a day before you will be comfortable to take a brake till the next day?

Money is what we get more the less it feels. So we should really set some limits to earn money a day, But that does not really matter how much we should make one day, instead, we only should have enough knowledge to realize that now is the time to stop trading and now is the time to not stop trading and make some good profit. Because if you will set limits here in BTC as well then how are you different than a corporate job where the salary is fixed and you don't earn more or grow more until you make your mind to do so.

[Captain Corporate]

I don't think I would have that type of logic, I mean I do not trade based on profits, but based on entry points. If I see an entry point that looks like I should enter then I will do that, if I do not see any then I will not. Its that simple for me and I think it should be quite important to notice that you are going to end up with something that will benefit you for the longest term. I understand that we are going to end up with a good trading if we see a good entry point, and if not then just don't trade. I could be making %10 at that moment, losing, or could be at %400, it doesn't matter, I just calculate if its a good idea or not.