it is about one that is started investing in cryptocurrency and sometime my portfolio goes high and sometimes comedown I do not know to take profit.
what is yours strategy for taking profit?
For each method I use, I go with the way that has shown me from backtesting and forward testing to be the least risky without giving away too much of the profit.
But it’s a terribly difficult question, in trading.
I don’t think there’s a single “right answer”.
People’s attitudes to it also vary a lot, according to their degrees of risk aversion. The “most profitable” is not always the “best”, according to that.
I think the single big mistake to avoid is trying to take your profit according to where your stop loss was, in a “fixed proportion” or “fixed R:R”. Many people go wrong by doing that.
Overall, it’s better to try to determine it from chart-based parameters like support and resistance, or even just “round numbers”. My opinion, anyway.