Topic: Getting losses, Take a break and just focus on Bitcoin. - page 4. (Read 597 times)
Bitcoin trading is also very risky, although altcoins are more volatile and riskier. Just tell him to hold, that is the best for now. I have traded bitcoin and altcoins, they all have their own risks and they are all for experienced traders. I remember a time I was new to trading, I traded bitcoin with leverage and I lost so much.
Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.
And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.
And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.
Jump to: