handling bitcoin volatility - page 4.

Hypnosis00

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Quote from: Hamphser on January 01, 2020, 11:43:39 AM

Quote from: rijaljun on January 01, 2020, 11:31:24 AM

Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

There are few tips to handle it, one of them is to do an action whenever it starts moving. For example, you sell Bitcoin whenever the price starts to move down and Buy when it starts to move up. It's gonna be hard though since you don't know how far it's gonna move and you may need to pay more attention and be aware of every move, but try to apply this to be safe.

That's basically what a day trader have been doing and it's really hard though specially if the market is not that too unstable. Less volatility movement meaning less profit for a day and that is so stressful if you'd ask me. Best is to hold it until you see some huge movement in the market.

Patience could have a big role in that position but somehow, some never think.it was helpful and insisted that they are right. I understand how stressful for us with the market like this but if you can manage it perfectly, it all be fine and run smoothly.

fullhdpixel

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If you could have buy orders and stop loss there is really not much else you can do if you are a short term trader. I would say having something like a 10% stop loss would be ideal because usually if bitcoin goes down 10% it goes down even more, then you can buy cheaper under whatever the biggest support level is.

So, let's assume you ended up buying bitcoin at this price, then it went under $6.2k, you should have a stop loss at around $6.3k or so and after that the price goes whatever the next support level is, I don't know it but lets say it is $5.5k (made up) then you should have a buy order there as well, now you are still not in profit but at least you are doing better than just holding. Same type of idea works out well for going up as well but the reverse version.

skiorf

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

~snip~
What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

the right step for me is to cutlose when I open a wrong position, and return to buy it when the price has gone down. that way I can minimize losses, rather than having to hold back and prices continue to fall which can make me a headache. price reduction has become a bitch that can make people stressed.

imstillthebest

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in order to protect your selves from bitcoin sudden move you should convert your btc to stable coins or convert them to fiat or just withdrew them . you know bitcoin is volatile . you must accept it or leave , if you wanna trade then trade and put in your head that once you already trade you can never get it back . you must accept if what else happen next . if your lucky , youl earn while the price will dump after you traded but there are time that a trader is badluck and the value of the coin that they already traded just pump hard few moments later .

Hamphser

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Quote from: rijaljun on January 01, 2020, 11:31:24 AM

Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

There are few tips to handle it, one of them is to do an action whenever it starts moving. For example, you sell Bitcoin whenever the price starts to move down and Buy when it starts to move up. It's gonna be hard though since you don't know how far it's gonna move and you may need to pay more attention and be aware of every move, but try to apply this to be safe.

That's basically what a day trader have been doing and it's really hard though specially if the market is not that too unstable. Less volatility movement meaning less profit for a day and that is so stressful if you'd ask me. Best is to hold it until you see some huge movement in the market.

rijaljun

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

There are few tips to handle it, one of them is to do an action whenever it starts moving. For example, you sell Bitcoin whenever the price starts to move down and Buy when it starts to move up. It's gonna be hard though since you don't know how far it's gonna move and you may need to pay more attention and be aware of every move, but try to apply this to be safe.

bettercrypto

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

Hold it for a long term! But before you hold, you need to know when it should be bought first. You can set your prediction price below 8K dollars and not more than 10K dollars. Why? Because most of the time, it fluctuates around 10k+ dollars and it is possible that you regain what you loss. If ever, it moves unexpectedly. The best thing to do is to look out the price reaction. If there is a huge blocks of sellers, then cut it off. But if not, hold on!

iv4n

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

One of the ways to protect yourself is to have money on both ends, if your pair is btc/stable coin (or any other pair) you need to have amount of bitcoins and stable coins. When price change directions simply add more money to your position, for example you buy and price drop, what you do is to buy again, and if it drops more buy again and hold your positions, bitcoin always bounce back, sooner or later. It's ok to try to short sometimes, when you think that price will go deeper sell all and wait for price to go to bottom and buy then, it's tricky to do it, sometimes you can lose money if you choose wrong moment.
Trading is tricky and risky, some sudden moves can be a terrible for your open orders, but sudden moves are the ones that can make you money if you risk and trade like you expect them.

Yamifoud

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Quote from: perla on December 30, 2019, 12:59:09 PM

Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

At first don't panic. Because panic will cause us to sell our coins in lose position and then lose our money in it. I can said that because i always panic if see bitcoin price move suddenly. Maybe my strategy for now not really see bitcoin price because i must believe that bitcoin price will increased someday. So i don't need to panic anymore especially when see bitcoin price dumped.

Panicking doesn't have a good result but all on negative sides. This kind of human feeling will always lead to nothing and that is why those people who have been controlled by their emotions will never succeed. If we trusted bitcoin since from the day we invested this coin, I don't think we should have to be panic. Don't let our emotions controlled us, we should have to think the best solution rather than to easily quit and sell our Bitcoin cause of fear that it all be gone.

moviebuff777

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I always try to place stop orders on my trades. This is how I stay prepared for volatility. This way I can avoid losses with big drops in price.

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

Don't overbet that's for sure. With volatile markets you must be more aware than ever with how much you can risk on a position. Tailor stop losses accordingly an split/diversify your positions as much as you can so you will not be a victim of bad luck. If your strategy is a winning one and you will not let the variance beat you then high volatility only makes for more chances to beat this game.

wxa7115

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Quote from: TitanGEL on December 28, 2019, 01:01:34 AM

Quote from: wxa7115 on December 27, 2019, 12:50:51 PM

That is without a doubt one way to handle the volatility of bitcoin but you can not really expect that everyone does the same as you, to begin with you seem to be very comfortable with the amount of bitcoin that you are holding, something that is not true for the majority of people in this forum.

Also you can hold your coins regardless of the market conditions because I'm sure that you are convinced about the future of bitcoin but we must understand that unlike you the majority of the people in the market do not really believe in bitcoin that much, they are here just because they want to earn money in a fast way and holding your coins is not really their preferred method to do that.

The answer is subjective when it comes on what's better between holding and trading. As a trader I prefer to trade my bitcoins than to hold it. I'm an active trader so it is suitable to trade for me. Those passive trader are suitable in holding bitcoin in long time and they will not also be worry about the volatility because their just holding. As an active trader, volatility is really sucks but I manage to survive in the market because I know what is my doing and I have a lot of strategies in order to manage the volatility.

Without a doubt the answer to the question about how to deal with the market volatility will depend greatly on who you are and what are your skills, just as you I am a trader and I prefer to deal with the volatility by getting in and out of the market when I think it is convenient for me to do so and so far that has been a good strategy for me.

But I do understand that not everyone can do this and some decide to hold their coins regardless of what happens and that is a good solution as well, but there is another group that cannot do either and they are the ones that suffer the most as they lose their money thanks to the volatility of this market.

el kaka22

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Quote from: jostorres on December 31, 2019, 04:16:48 AM

Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

There is really nothing you can do unless you’re referring to short term trading, then you can make use of a stop–loss to decrease your loss. Back to the norm which is long term trading, there is really nothing you can do since you are having plans to hold them for a long term unless you’re going to swap for a new coin or maybe have the coins sold and you might be disappointed if the coin you sold starts to rebound lol Grin

. That’s why you should be a bit frugal with how much money you’re splashing on bitcoin, you never just know what will happen.

At least if it falls you will be able to endure. I do know some people invest huge amounts to make profits, but that’s kind of greedy and you should not let greediness control you.

Yes, if you are a long term holder the volatility doesn't really bother you that much honestly. But, when you are a day trader it must be something very difficult.

I personally earn bitcoin by working and that hurts me a bit because sometimes I work for something and we agree on payment and they pay me and until I cash it out to fiat the price of bitcoin falls, which really means I worked for it but got paid less however I risk it for the potential of making a lot of money for my work as well both of which has happened to me before, I mean I remember times when I earned money and spend a bit of it and next day I still had the same fiat because bitcoin went up, sometimes I got so little that it was hard to live for a month and had very big difficulties as well.

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Quote from: btc_angela on December 31, 2019, 01:47:09 AM

Quote from: adroitful_one on December 30, 2019, 09:15:43 PM

The best way to protect yourself from the sudden moves is to play them. Whenever you see Bitcoin is up a large percentage in a short amount of time, it's probably going to be a good idea to sell off and buy back in at a lower price. More than likely with a large jump in price, the price will go back down and recover. I have been doing this on Robinhood without ever even looking at a chart and just using the alerts they send out in the app and have made 5x. I just sell whenever it alerts me that Bitcoin is up a good percentage and then set a buy at a lower price. Never once looking at a chart or anything.

Thanks for the tip, haven't try Robinhood though, but it looks like doable. I just simply hedge it to other crypto's and then go back when bitcoin is making a run. Yes, it's profitable but I'm not getting want I wanted as profits. So maybe I will try robinhood and see how it goes for me, at least I have alternatives if even I got headache trying to handle bitcoins volatility.

Let's move on now, let those experiences of 2019 be our inspiration in facing towards new journey in 2020. If there's a good future, there will be an amazing signs that we will see, but if not? I guess same pattern will still occur. Bearish will continue to pull the market down and still makes our asset so hard to increase at a good price.

jostorres

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

There is really nothing you can do unless you’re referring to short term trading, then you can make use of a stop–loss to decrease your loss. Back to the norm which is long term trading, there is really nothing you can do since you are having plans to hold them for a long term unless you’re going to swap for a new coin or maybe have the coins sold and you might be disappointed if the coin you sold starts to rebound lol Grin

. That’s why you should be a bit frugal with how much money you’re splashing on bitcoin, you never just know what will happen.

At least if it falls you will be able to endure. I do know some people invest huge amounts to make profits, but that’s kind of greedy and you should not let greediness control you.

btc_angela

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Quote from: adroitful_one on December 30, 2019, 09:15:43 PM

The best way to protect yourself from the sudden moves is to play them. Whenever you see Bitcoin is up a large percentage in a short amount of time, it's probably going to be a good idea to sell off and buy back in at a lower price. More than likely with a large jump in price, the price will go back down and recover. I have been doing this on Robinhood without ever even looking at a chart and just using the alerts they send out in the app and have made 5x. I just sell whenever it alerts me that Bitcoin is up a good percentage and then set a buy at a lower price. Never once looking at a chart or anything.

Thanks for the tip, haven't try Robinhood though, but it looks like doable. I just simply hedge it to other crypto's and then go back when bitcoin is making a run. Yes, it's profitable but I'm not getting want I wanted as profits. So maybe I will try robinhood and see how it goes for me, at least I have alternatives if even I got headache trying to handle bitcoins volatility.

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The best way to protect yourself from the sudden moves is to play them. Whenever you see Bitcoin is up a large percentage in a short amount of time, it's probably going to be a good idea to sell off and buy back in at a lower price. More than likely with a large jump in price, the price will go back down and recover. I have been doing this on Robinhood without ever even looking at a chart and just using the alerts they send out in the app and have made 5x. I just sell whenever it alerts me that Bitcoin is up a good percentage and then set a buy at a lower price. Never once looking at a chart or anything.

stomachgrowls

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

Bitcoin price is always been volatile and speaking on how to protect yourself, then i would suggest this;

-Let yourself prepare on whatever would be the outcome and dont anticipate on making good trades
-Set stop loss
-Make some good fund/bankroll management
-Get rid of being too emotional

Basic things but hard to do when you are on actual situation but at least you do already have the idea.

perla

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Quote from: msantamaria86 on December 17, 2019, 01:24:11 PM

Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.

What tips do you guys have regarding protecting yourself from bitcoin sudden moves?

At first don't panic. Because panic will cause us to sell our coins in lose position and then lose our money in it. I can said that because i always panic if see bitcoin price move suddenly. Maybe my strategy for now not really see bitcoin price because i must believe that bitcoin price will increased someday. So i don't need to panic anymore especially when see bitcoin price dumped.

ubercool

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There is no short term solution for this. If you're an avid trader then you'll be bound to get into this trap. Long term solution is to keep your calm and trade only good coins.

Topic: handling bitcoin volatility - page 4. (Read 1784 times)