Topic: As a successful trader, how do you cut your loss short? - page 7. (Read 10348 times)
Always have to have a plan for each trade. if its not going your way, your stop loss would be if you spotted a trend change. For example a long term trend candle closes above the previous one.
Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??
I am not yet a successful trader but I aim to be one. One thing I do so that I can prevent further losses is to have a trading plan always. I cut my loss when it reach 10%. I don't want to wait for long and I saw some coins dip as much as 90% so to avoid further losses, I would just cut it when it reach that price. I have a risk reward ratio so even if I cut my losses, I would just wait for it to settle in a possible support and go in range and then find a good entry price. I know that others may advise not to sell because it is just unrealized loss but I don't intend to wait that long. I am not just a long term hodler.
According to the market fast stop loss, and strictly follow the operation. This is the best way I think to shorten the loss.
An entry and exit points must be set even before the trade is executed. This points must be attribute to some conditions sets by the trader. The rest is to focus on those conditions. With this ,you can cut your losses short as soon as those exit points is triggered.
There are several advices and methods to avoid a loss that may be small or large scale, and in my opinion who are we to point a north with extreme certainty and the maximum we can do is calculate a situation to try to prove some theory. Particularly I usually observe my day in general or week, when I come one day, bad and stressful week does not have the why and proper to trade indenpendently from the current market this will only bring disruptions and frustrations.
Firat i dont understand what do you mean by " cut lose short ? " i hav3 been 8 years as trader starting in forex trading i always recover my lost with averaging and when i entering crypto trading i never use laverage so i never get forced to cut lose. Spot trading is better for me because i wont lose on every trade even i buy at peak i will hold the coin as long as i still trust it and wait for coming back to my buying spot.
Holding your coin would be only applied into cryptocurrency trading which you cant done those moves into forex trading and i do see this as an advantage.A successful trader can be classified as a profitable one but it doesnt mean they do able to cut losses anytime where the prices goes to opposite ways this is why theres a stop loss which is really advisable anytime.If you do have a habit on taking up some percentage stop loss then you can really minimize loss. 
Firat i dont understand what do you mean by " cut lose short ? " i hav3 been 8 years as trader starting in forex trading i always recover my lost with averaging and when i entering crypto trading i never use laverage so i never get forced to cut lose. Spot trading is better for me because i wont lose on every trade even i buy at peak i will hold the coin as long as i still trust it and wait for coming back to my buying spot.
I think best way to stop losses in a bear market, is moving before everyone and selling coins but that is not much possible or not selling at all or stop loss would be useful if you can use it well.
I am generally bad at intimate trading. I am generally too patient comparing to market and its hard for me to short out. But I learned couple of lessons, if everything drops like -%25 its good time to leave it mate.
Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??
I have been trading with the cryptocurrencies approximately for 1 year, and I don't think it is an easy thing to cut losses rapidly. For me, making decisions very well at the beginning is the most important parameter to cut future losses.
My strategy in trading is to hold through the bear market and wait for market rebounce. As long as you don’t sell in losses, you are not losing money.
The market now is more difficult to trade in because it is continuously going up and down. I suspect there are more experienced traders entering the market, like the ones migrating from the stock exchanges. To cut your losses, buy back when it hits the bottom so future gains will counter those losses
It was much easier to trade before, against the background of news. Now the market is very unpredictable and it is hard to predict something.
i can not be considered as a successfull trader but i know a few thing that you need to do to cut your losses.
first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.
Disagree with using stop loss order. Too many times my stop loss has been hit and then rebounds and as an adjustment I stopped doing that. Now I manually view the markets and don't carry more than 20 coins. If you have more coins than this perhaps you should use stop loss because it will be tough to keep track. If you have less than 20 coins, I feel like you can track them manually everyday and see which ones need cutting.first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.
Successful entrepreneurs are really admirable. As a successful trader, you have the strategy and the way to cut losses in doing business. Successful investment in bitcoin market - hard coded market.
In the time when the market rate falls sharply, the simplest way to cut losses and preserve my capital is to exchange to USDT then hold. Because USDT is stable at $ 1. Alternatively, it is possible to transfer for potential cryptos as ETH and BTC are also a way to avoid losses if you are holding altcoins.
I am more likely to change it to ethereum because usdt hardly ever experienced a good movement as an asset. If my assets are going through a strong decline, I have to change my mind to see it as a long term, I keep looking for potential sources like ICO and try to focus on potential short-term coins.
In the time when the market rate falls sharply, the simplest way to cut losses and preserve my capital is to exchange to USDT then hold. Because USDT is stable at $ 1. Alternatively, it is possible to transfer for potential cryptos as ETH and BTC are also a way to avoid losses if you are holding altcoins.
first, before i buy any cryptocurrencies or others investments opportunnities
i will make a journal, then, when my predictions is wrong, i have a second scenario
so, i will know what should i do, with the new markets conditions my friend
i will make a journal, then, when my predictions is wrong, i have a second scenario
so, i will know what should i do, with the new markets conditions my friend
This is why every trader needs to learn Limit stop loss.
If you buy a coin but then it goes down, you already set up a stop loss 5% in the bottom.
This is why your loss will not be more than 5% or even more.
Every trader has its own strategy, and you should find the best that suits to you.
If you buy a coin but then it goes down, you already set up a stop loss 5% in the bottom.
This is why your loss will not be more than 5% or even more.
Every trader has its own strategy, and you should find the best that suits to you.
To cut your loses in trading you should know when to stop. Puting a limit on how much can you lose in trading should one of the rules that you need to put while trading. Being greedy is also not good since it will make profits to more loses as you would want to get back what you have lost or get more profits. One should know that there are days when trading crypto is not good as there days when you will just lose in every transaction that you make.
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