Profit taking is the process associated with selling stock and thus receiving profits. Taking chips off the table is an analogous process. When you make a good investment, you aim at taking back the money from the market without incurring any risk. That is how the profit taking is explained in the traditional sense. In the investor’s point of view, it is usually decreasing the value of his portfolio.
Which is the best way to enjoy profit-taking as quickly as possible? What are its main components? What is essential to know in order to compete successfully with a number of other investors? How to quiet the emotions ready to overpower your strategy for profit making?
Regardless of where the economy is going, a good trader always books his profits. Even when the market is volatile and the prices fluctuate, he seems coordinated and just enjoys the scene. The experienced brokers are questioned by many people who want to know what it takes to become a successful trader who never fail. In fact, no one knows the answer. Investors, making informed decisions, are the people who gain big profits in the area of share market operations.
An honest self-analysis is required. You need to have a balanced individuality: neither an extrovert nor an introvert. Controlled aggression should be applied. Individuals who are unable to control their drives should restrain from this type of trading. Investors should be able to take diverse but adequate positions. They have to keep track and wait for the right moment to strike and reap the profits.
Another important quality is flexibility. Ask for advice and information these investors who have been successful in the area of profit making and follow suit. In a nutshell, fighting one’s way is the best path to profit taking.
Free charting webinar
Mon, Nov 18th, 2013 12:00 PM - 1:00 PM EST
During the 60 minute session Paul Coghlan, founder of Coghlan Capital, looks at current charts for currencies, precious metals, US indices, highlighting turns and low risk entry points using the Median line analysis methodology.
Median line analysis reduces risk and increases the chartists ability to see trend direction, trend strength and highlight entry and exit levels.
Seats are limited so be sure to reserve your spot today. The webinar will be recorded, by signing up you'll receive an email with the webinar replay afterwards.