Altcoins are all down, so how do traders make their earnings? - page 5.

dimonstration

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Dimon69

Quote from: pinggoki on July 10, 2017, 07:24:58 AM

Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

Yes just hold it this is how trading works so you dont have to be panic.

bitcoinqueen08

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Hold it till August altcoin will rise again. If you sell now you will be in loss. so wait few more weeks you can make profit

hisuka

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Quote from: tleilaxu_eyes on July 10, 2017, 10:32:11 PM

Don't sell, don't short, don't react to your emotions... Playing with shorts is probably the worst thing someone who is uncertain can do. Getting liquidated is the easiest way to hand your money over to someone else.

In fact, it might be a good time to buy more BTC/alts soon.

Other do panic selling because of this downtrend. All are with red alert, the good thing when this is happening is to collect, buy altcoin which has a good performance for the past months, weeks. If selling now will effect of lose our money some still get earnings buy short term trading.

Andre_Goldman

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Property1of1OU

Quote from: bitcoinbox on July 10, 2017, 10:39:46 PM

Even in a dowtrend, traders can make money with day trading. In this case, the MACD helps.

I think it is easier for non-traders to understand the bull's logic (buy for 1, sell for 2) than bear's logic (sell for 2, buy for 1) ...

hajimasan

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

Always follows the basic rules of the trading because basic rules are only the things which made us a successful trader .
(1) Don't loose your patience , because one day surely the price will increase to a high top value and then you can easily recover your investment .
(2) Never sell your coins at low price , but always buy at low price .
(3) Never get panic due to fall in the price of the coins .
So from these basic rules , here I will suggest you to buy more coins and that will results into the price of the whole coins into average price .
And also here you need to know why the price get down , because few people are spreading the fake news to lost your btc during hard fork , so people are selling Bitcoin that results into down in the price .
So here you need to take patience and wait until the price get rise because if you will sell now then surely you will lost a big amount.of your investment

bitcoinbox

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So far so good

Even in a dowtrend, traders can make money with day trading. In this case, the MACD helps.

roomfirst

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

I think it's because the price of bitcoin that going down and it makes other alt coin price become down too following the bitcoin price, correct me if i'm wrong. Case like this is really usual happen, when the price of bitcoin increase again, i'm sure the altcoin price will follow.

tleilaxu_eyes

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Don't sell, don't short, don't react to your emotions... Playing with shorts is probably the worst thing someone who is uncertain can do. Getting liquidated is the easiest way to hand your money over to someone else.

In fact, it might be a good time to buy more BTC/alts soon.

moviebuff777

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

If everything is down relative to the US dollar, then you can sell for US dollars (if you think it will drop further) and let the price drop and buy back in at a lower price. If you think the price of an altcoin will drop relative to bitcoin, then you can sell for bitcoin and then buy that altcoin back after it drops.

If you bought your bitcoins at $2900 and the price is now under $2400, I suggest that you just hold for now because the price will eventually get back above $3000.

klf

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Quote from: layoutph on July 10, 2017, 04:13:53 AM

Thank you for the suggestions guys. The Big lesson I learn in this trading is: Never trade while Bitcoin is under retracement or correction, or you will find your self in a negative position due to altcoin dump. Wait for lowest dip, then buy. Sell once you reach the top. Play scalping until Bitcoin correction is done!

You never know which is the lowest dip because if anyone knows that, then they will be the richest person in this world. I think once we see that alt-coins has corrected a big way and if you believe that altcoin is good then we should start buying in small quantities on a regular basis to get a best average price. Otherwise, we may just wait and watch prices going up and down but never actually buy anything.

goinmerry

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

During corrections, it's obvious that you are waiting for the dip to buy another more and not to look for profit since the market is on bearish.

How long you are holding now? If you trade on coins that always pump and dump then consider that now as a loss and let it idle. Make way again to recover the loss. In this way, you are treating those coins as loss eventhough in reality they are just idle. Losing money is always at stake when one choose to do altcoin trades. JHere is my example based on own experience, remember NEM when back at below 1,00 satoshis? I considered them as loss because I bought it at around 1,000 satoshis and the price just sleep around that level for almost a year. I continue my usual method to earn bitcoin so that somehow I can recover the loss. Then after a year, the price of it grows. See? All my considered loss are now gaining. That's my strategy when Im losing, I will considered them as loss an move on to recover the amount.

bitcoinisbest

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Quote from: pinggoki on July 10, 2017, 07:24:58 AM

Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

Coins which are good and which will add value in future will gain and move ahead rest all of them will be dumped by majority of users and it will not rise in future . This is common among altcoins . Only in boom they rises rest once they fall difficult for them to again rise . Such times actually helps us to know which are coins where you need to invest and have future as well.

Vaskiy

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This has been quite common that the price increase and decreasing. Here this time a price drop has got initiated along with the majority of the altcoins. There is nothing to get panic about the price drop happening today, causing it to reach less than $2400. Be happy and try to make others happy.

btc_angela

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Quote from: pinggoki on July 10, 2017, 07:24:58 AM

Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

I guess casual investors like us becomes very emotional and panic upon seeing red on our investment portfolio. So its really hard not to get disappointed in it. But the option we got is to hold on and be wise on our decision. Because we may regret if we sell today when we see tomorrow that the price has rise up. So its better to hold and not panic and of course be patient.

pinggoki

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

layoutph

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Thank you for the straight forward answer sir, can you teach me how to do that average down technique? I heard it already but never tried it. Cause I do not know how to apply it properly.

Quote from: Low Sigma on July 10, 2017, 04:46:50 AM

Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

Responding straight to your question in order to make profit even when the market is falling, you have 2 possibilities:
1. you need to use short selling. So when the price is decreasing you are making money, but you will need to guess the direction(up is long; down si short)
2. or by using only long positions: even when the market is going down, there will be small rebounds upwards, but it is a very tricky approach, you kinda need to buy a falling knife and pick small profits.

What I said, it is from a trader point of view.

An investor would use this corrections to buy and also it is perfectly fine for them to average down the entry positions.
So be very careful from the beginning if you want to be a trader or an investor! If you are a trader, you need to cut your losses short.

The worst scenario would be to enter into a position as a trader, then you see that is going against you and then you will say "oh well, no problem, I will act as an investor from now on, I will keep the position open regardless what market will do". By doing that, you just became an irresponsible trader.

momagic

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

Keep holding and buying. After this time, they will all grow up so don't need to worry too much, everything's gonna be alright.

xFiber

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I don't think wise traders don't trade a whole lot at this moment of time simply because the risk reward ratio is not worth it. Maybe some are going for quick and safe 2% profits but in the end it might not be worth it.

buwaytress

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Quote from: layoutph on July 09, 2017, 09:59:25 AM

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever Sad

All my coins are in bloody red, I have negative -20% to -30% profit. Please suggest something.

This is a great time to learn patience. The good news is, you're only about 15% in the red based on today's BTC price. As Bitcoin will surely return to the 2900 level, as will the price of alts.

More good news: it may feel like forever, but it's only been a matter of months. If you're a long-term trader, this is something you must expect. If you're not. then cut your losses now and learn a bit more about short-term trading before you re-enter. More good news: You've gained experience and should make note not to repeat the mistakes.

Potato Chips

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yesssir! 🫡

A quote that has been said over and over again in this forum "if theres a pump there's a dump". don't panic this is normal. what you have to do right now is to wait. never sell your coins lower than their bought price because thats where you lose particularly if a coin has been rising too quick, there will be a correction which is a decrease of its price.

your mistake here is when joining a pump you should have gotten out quickly. this is what they call short trade. there are many tips, strategies and guidelines in the internet, search and read it buddy,

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