Altcoins are all down, so how do traders make their earnings? - page 6.

Hamphser

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Vave.com - Crypto Casino

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.

Short thing here is that you bought on those price which are still on the hype or on their new ATH. You did enter on the wrong timing which you would eventually suffer reds on this case when prices do make corrections. You should not let yourself affected on the hype and decide to buy and buy since you see prices do rally going up. Prices changes anytime and dumps anytime which would really gives us lose and the feeling of holding forever is there and i would really like to suggest that dont ever try to sell on loses. Better to wait than to sell on lose.

Adbitco

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The very first lesson in cryptocurrency trading is to keep patience. The coins you may have bought might be in red but to say that all of them are in red is wrong there are still some coins which are in green and it's those coins which help traders make their earnings. I would advise you to keep aside a few of your btc for situations like these when most of your coins are going down but there are still ones which have an upward trend and you can make money with them. At least this is what I did past few days and made a few earnings.

Low Sigma

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Algorithmic Trader

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.

Dudeperfect

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Even if investment in Bitcoin is considered as a risk due to price volatility, It is still the safest investment as compared to the investments in altcoins. I would advise you to hold your investments if you can bear some more loss for the short term, as it is a cyclical process and there will be investors who will buy the coins at that level so again the price will increase so as soon as you hit break even, start selling your holdings in small lots.

layoutph

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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!

tiggytomb

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Depends on what coins you are holding. If you believe the coins are decent then hold until they go back up, if you bought some coins looking for a quick profit and don't know anything about the coin then find out about it and decide if it's worth losing money over.

I would say hold tight for a bit.

jhenfelipe

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Both suggestion will be risky. It's either you wait if you believe that the coin you are holding has the potential to increase in price again or you can sell low and buy lower to load up your coins. Sometimes waiting is boring, so if you are a risk taker, you can sell your coins in a lower price and buy again in much lower than your sell price. This will help you collect more coins, so when the price go up, you'll have more profit. I've tried this method before and I gained profit BUT STILL, always check the market because there are times that you can't buy any lower and you might end up losing again.

Strongkored

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I'm in the same situation as you, a bit annoyed and impatient to see this but I prefer to wait until the end of this month, because I believe the altcoin that I'm bought is a potential coin, this is just a normal situation the price will go up soon.

ashiba

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Altcoin market is damn down . Almost coins are down so its buying time and sell them for a quick profit cause after every day touching lowest they go up for sure . So i think atm traders making quick profits .

api

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Since the price movement in the market is wavy, you can learn to determine the top and bottom of the wave, sometimes these deviations are 2-5 percent. So I'll give direction - study the technical analysis, special attention to the TTF signal, it shows the entry and exit moments very well and gives an error of 10-15%, i.e.

At a slow drop in prices you can trade with a small plus. You can find the TTF signal on the site _tradingview.com, it's called Trend Trigger Factor [LazyBear], you can see it in more detail on the Internet. If you have any questions, I will be happy to answer.
Successful trading to you!

NavySeals

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Quote from: nasibakar on July 09, 2017, 06:18:49 PM

It is probably the best time to sort,... right?
there is always a way,
it is probably a very good time to apply sorting,
not everyone likes it.

Not all the altcoins are in loss, some of them still very promising with green indicators. And altcoins might decline but here you can open short positions on margin trade.

nasibakar

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It is probably the best time to sort,... right?
there is always a way,
it is probably a very good time to apply sorting,
not everyone likes it.

Wowcoin

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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 the altcoins are all red or down that is the time to buy to and keep them and wait again the right timing for you to sell it. You have wrong move with that why you buying if bitcoin price are going up? That is not good move but nothing you can do now is wait until bitcoin goes up again.

ModGirl

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Stick to bitcoin only to get the earning. For that you can notice that there is some fluctuation in the price of bitcoin so you can take the help from that to earn from your trade. You can buy at lower price and again when the price of bitcoin increases then you can sell them so you will earn and again try to buy at lower price.

amaral1977

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If you are a newbie with little experience i would suggest you just stay calm and hold your coins. There will be a recovery in the market. don´t panic sell. If you want to risk a little you can day trade your coins looking for profit from the number of coins you hold point of view (increasing the number of cons you hold and not there value in BTC or FIat)

xIIImaL

legendary

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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.

All the alts will be see the success like ETH and litecoin achieved. If you wish to invest on the most popular altcoins you can find the profit but real truth is bitcoin is top one preferable for trading investments due to its price pumps happen every day. You need to check the price and need to set the value you may easily find the profit.

raven7886

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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.

No surprises for me, until some time back, altcoins kept on facing huge dumps whenever bitcoin finds rising. Fortunately in recent times it was not happening and that is the reason altcoin traders are making good profits. But now tends were seeming changed after ethererum network clogs. I assume altcoin traders are booking losses due to this. Very hard time.

Staying away for sometimes must be the right option in front of all altcoins traders. Other than that switching over to bitcoin trading could be another better option but it will not be possible for all the traders as it requires proper knowledge on bitcoin trading.

BitcoinGirl.Club

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Farewell LEO: o_e_l_e_o

Quote from: giveen on July 09, 2017, 12:59:56 PM

That's the best part altcoin is down this is the right time to grab mostly any coin and sell for profit. And you can't say that everyone single altcoin is down though all the mains once are down the crypto market is really vast and honestly speaking with the market being down i was able to make more profits than usual. Just explore there are still many opportunities they only need to be found.

Thinking like a pro trader

I agree with what you saying when Altcoin prices are all down its time to be the shark and buy all altcoins which show they have the potential market of growth. Sometimes prices fluctuate as a result of bitcoin dips and traders will buy cheap and wait for the right time to sell to get their profits

dquancey

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If alts are down, and are looking like there will be nothing to stop that, then traders don't make money.

I think there are the odd coin on bittrex and/or yobit that will be in the hands of PND groups, so if you happen to hold one of these, profit.

Most traders made a tonne of money in the recent bull market, so during times like this, they'll be laughing.

ayurvedicurea2growtaller

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Altcoin looks terrible at this moment.

Topic: Altcoins are all down, so how do traders make their earnings? - page 6. (Read 5105 times)