never sell at a loss when a crash happens you dont sell... you buy, and you buy as much as you can
This is not a rule never sell at a loss, the smartest have at times had to sell at a loss to be able to continue trading with something that is not sinking! With you mentality when a crash happens and you keep buying, what happens when the crash is to major to bounce back anywhere near where it was? If you see a crash coming sell at a loss and buy back at a later date when it has balanced out and you end up with more without risking more. The only guys that can hold all the way down are the guys who brought in early on.
I had the mentality to never sell at a loss when I got into alts, and held some until they became near worthless. I now wish I had got 50% OF my money back when I had the chance. Although bitcoin's not the same as a shit alt I now consider selling at a loss if the price crashes far enough.
I too was foolish enough to think (even as the price was dropping) that I could at least break even. This never happened, adn ended up selling for a loss last summer. In hindsight it was a good call becasue we've only gone down since then.
The worst thing you can do is listen to the super-bulls on here who "guarantee" that the price will go back through the roof. Most of them probably hold very little to begin with, or have been holding since 1btc was less than $1. They seem to think holding while suffering losses makes them superior to others, but really it only makes them look like fools.
At least you now no that you do not need to hold all the way to worthlessness, not saying bitcoin will go that way but if i sensed it then i would sell even if i missed the first get out and i was losing. Bitcoin is very similar to the alts it just has more adoption and more people willing to keep it propped up, could be why this dump since 1000+ has taken so long we keep getting fresh fools willing to buy where the alts don't they just get forgotten.
That is the thing we talk ourself into believing that it will break even or go to profit but that is us putting our hopes & emotions on the market and that will never work out well because the market does not care for our emotions. So there you have your own proof sometimes it is good to sell at a loss. I have done quite a few times on alts and then i ended up with profit after buying back at the bottom and holding double what i would have had if i held all the way.
So many bulls are living in the previous bubble and not looking at reality again kind of putting their emotions on the market and they believe we will be hitting the moon every 5-10dollar rise in price
