Do not panic sell when there is dump - page 20.

Maslate

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Quote from: Lorokan on April 17, 2021, 01:08:18 PM

Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor

What do you think about this circumstance ? am i overthinking this ? share your views.

You are not, that's just the reality in crypto, once the bear market comes, we will witness panic selling and now we are in bull market, we are seeing panic buying, it's just how the market cycle of crypto is happening, so it's just easy to predict if we are just patient enough.

I've been using a simple strategy which is to buy during bear market and sell during bull run, like I said, it needs patience especially on waiting the bull run.
This time is suppose to enjoy selling already while newbie are buying.

Ulven

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Yes, you should always focus on strong and top-ranked currencies in order to avoid panic during the dumping process, in fact trading needs discipline and emotional control. The stronger and more convincing you are that the currency will be profitable, the more likely you will be. So why panic?!!!

Joca97

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Sometimes you should sell.If you have seen it in last few months for example ETH it jumps and dumps and then jumps again
Many times i could have bought the dip and earned more.But i was scared of not dumping on highs.I earned overall profit.But selling and buying could have earned me a lot more

michellee

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If you are in that situation and conditions, I do not think you can stay calm and not panic because it is hard to accept the reality in front of us. Maybe we panic for a while but then we remember that we need to stop the panic and search for the other way to prevent the worst thing. That is why we need to have the experience to help us find the way out of that situation. It is not easy as it said but it needs more practice and more experience to remain calm.

isaac_clarke22

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No you're not, OP.
Actually it is common bad habit actually whenever their "hyped" coins or like whale dumps, they will do a panic sell along with everyone, but then whales would just hunt their sold coins turning it into their favor for future purposes.

blockman

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You're not overthinking because that's the number 1 problem of most investors and newbie traders. The experienced traders won't panic sell if they've bought a coin that they really are familiar with. And the wrong strategy that they're buying at the pump should also be changed but you cannot take them for granted because that's how they started. In the end of it, they'll learn through their experiences and won't commit to panic sell.

jacafbiz

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The most important thing when investing or trading is to have entry and exit strategy, once you stick to this you will be fine, at time a coin pump and there is something in you telling you that it is likely it goes up more so leave a small portion for this portion. But when you have a sense that a coin is overvalued just sell and run because the dump is always mega dump and you can lose all your gains

izsara

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The first mistake of a beginner trader is when they start buying when the price is rising (pump) and buying it when it is at its peak and they start to panic when the price is dumped so they immediately sell their assets even though it can hurt them.
This is my personal experience because I was like that before

advice for beginners, before we trade, we should first know about the ins and outs that we will work on
when we started to like crypto, first learn what crypto is like because everything must have consequences

Review Master

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Quote from: Lorokan on April 17, 2021, 01:08:18 PM

What do you think about this circumstance ? am i overthinking this ? share your views.

It can be good for only those coins/tokens which have great fundamentals and strong support level on price chart. But it doesn't make sense to hodl any coins/tokens which is influenced by famous persons and novice are pumping by being into fomo. BTW, we need to control our emotion to be a successful in any situation whether it's bull market or bear. As always, DYOR first and don't invest into shitcoins even if those shitcoins pump a lot. Wink

revilo

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Quote from: Lorokan on April 17, 2021, 01:08:18 PM

Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor

What do you think about this circumstance ? am i overthinking this ? share your views.

This is easier said than done. Sometimes others know more than you and dump for a good reason. The right way to go about it would be to acquire as much quality information in the shortest amount of time possible to make a decent judgment. Coins can crash for very good reasons.

Better be up to date about the assets you hold or otherwise you'll act without awareness of any fundamentals. Ignorance isn't just good advice when a coin dumps.

Lorokan

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Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor

What do you think about this circumstance ? am i overthinking this ? share your views.

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