How do you Panic? - page 50. | Bitcointalksearch.org

jamids

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Quote from: shamzblueworld on June 28, 2017, 02:07:18 AM

Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.
How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?

Before I will immediately panic when the pair I traded suddenly crash and it looks like it will continue to go down but one thing I learned as time goes by is that to have a plan to whatever happen to the pair you are trading so that in case the trade will not go your way then you can take the necessary action according to your plan. Before, I would just hold the coin when it crash and then wait for the time for it to go up again and it would take weeks sometimes and sometimes I would sell it at a lose because it seems it will not go up again and after sometime it would go up and I should have waited for it to be a profit not a loss. It is discouraging and even plan to stop trading but then I realized that if others can do it then I can do it also so now I continue learning to minimize or completely avoid those kind of trades.

leyton11

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Quote from: ETCethereum on August 10, 2017, 08:59:19 PM

iam not panic
ussualy if i have another money, iam wait until price down very low and then buy again

But how to know this time is lowest price with the situation altcoin market always breakdown support line in June until today?
It's very difficult and we can become to food for whales any time.

traderethereum

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maybe its happen to me when i am in first time in trading and i realize in that time, i am panic to see the coin is down from the price i bought and makes me want to cut loss to avoid more losses. its happen to me in many times until i realize that the coins will be back soon after the coins make correction like what bitcoin do and its true, after i am trying to wait a few days, the price is move to go up although is not fast but its really go up and finally i can see that the price is higher than the price before so i can sell it to take profit.

v0rtecxz

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I think the panic will cause harm to its holders, it is good before trading you must first analyze the market movement to make a good decision to buy or sell it, because it will membatumu avoid the risk that will happen someday whether it's price down Or other its, its core you must be observant in seeing market movement do not until you buy with high price and sell with cheap price.

ETCethereum

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iam not panic
ussualy if i have another money, iam wait until price down very low and then buy again

Slowhand26

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I am very new with trading, been trading for less than a month now. And there's still a lot to learn with trading. At first, I really panic especially when my altcoins bought from trading really goes down. Then tenured traders here in forum suggested that "emotion" shouldn't be used in trading. It's all about patience and knowledge with trading and that's what I'm applying today

one rule I learned. NEVER put all your money to trading. save an "emergency fund" for yourself and extra will be on trading. To this case, you will not be panic incase you need money and your alts are all down,you will not be tempted to withdraw it

sweetbet

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I used to panic when I first started trading and didn't have much experience. Now I don't easily panic because as long as you buy at the lowest price possible and you have patience to wait for the pump, then all is well.

bohr

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Quote from: Casdinyard on August 07, 2017, 02:55:21 AM

Quote from: IamHigh on July 20, 2017, 02:46:11 PM

I panic when I see coinmarketcap web site with red colors and I start to think like "Oh my god, I think I lost my all" because I make margin trade with leverage. This is very risky, with a small decline I can lose my all.

Or I can say that you're too over acting rather than panicking.
As a trader I think in the first place that we should embrace volatility and treat it as part of our lives. We should be use to this. When the market is bloody red, dont worry because soon it will recover again. Of course. we sometimes lose as we trade but having a proper knowledge will prevent this.

What it happens is that even if people trade they have not adopted the thinking process of a trader, a trader sees that the market is red and the only thing he is thinking is not about his losses but about how much money he is going to make when the market rebounds and he is there to take advantage of it, think of those days as a day where you get a discount to buy your favorite coin.

justspare

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Quote from: bncbnc on August 07, 2017, 06:39:13 PM

Quote from: Klausi on August 07, 2017, 07:27:53 AM

Quote from: olushakes on August 07, 2017, 06:59:19 AM

For me, I don't panic again because most times decision made in that scenario is always a faulty one. At first, I a filled with so much uncertainty and a lot of thinking which led to panics but now, all I do is just to ask myself whether there is an urgent need to be met as a result of the sale. If its yes, I sell and if its no, I hold no matter how low or how high price is at the time and the reason for that is because at the end of the day I want to be fully sure that I had no other choice than to sell.

Panic? I don't define panic to myself. Trading has its ways to increase if you sell your btc with its rate but no matter what cases it prevail, that's normal for in nothing is permanent and it remains a constant change. A change that will surely make you take a serious action when trading is too slow or has a low value. Surprisingly when you have patience with you all the time.

that is very good because those people who come in panic then they find it hard to make money and most of the time they even lose their own money.

Yes panic will collapse all the trading plans as trading requires lots of on the spot decisions. So, trading should be done without getting failed with emotions other wise we cannot expect any profit making chances from trading. When a trader is doing without any emotion failures then we can follow his strategies which will be more than enough to get profits consistently.

bncbnc

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Quote from: Klausi on August 07, 2017, 07:27:53 AM

Quote from: olushakes on August 07, 2017, 06:59:19 AM

For me, I don't panic again because most times decision made in that scenario is always a faulty one. At first, I a filled with so much uncertainty and a lot of thinking which led to panics but now, all I do is just to ask myself whether there is an urgent need to be met as a result of the sale. If its yes, I sell and if its no, I hold no matter how low or how high price is at the time and the reason for that is because at the end of the day I want to be fully sure that I had no other choice than to sell.

Panic? I don't define panic to myself. Trading has its ways to increase if you sell your btc with its rate but no matter what cases it prevail, that's normal for in nothing is permanent and it remains a constant change. A change that will surely make you take a serious action when trading is too slow or has a low value. Surprisingly when you have patience with you all the time.

that is very good because those people who come in panic then they find it hard to make money and most of the time they even lose their own money. but those people who take the risk and holding bitcoin for the price increase can really get good profit. i think still we have time to invest money there and get some profit.

Klausi

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Quote from: olushakes on August 07, 2017, 06:59:19 AM

For me, I don't panic again because most times decision made in that scenario is always a faulty one. At first, I a filled with so much uncertainty and a lot of thinking which led to panics but now, all I do is just to ask myself whether there is an urgent need to be met as a result of the sale. If its yes, I sell and if its no, I hold no matter how low or how high price is at the time and the reason for that is because at the end of the day I want to be fully sure that I had no other choice than to sell.

Panic? I don't define panic to myself. Trading has its ways to increase if you sell your btc with its rate but no matter what cases it prevail, that's normal for in nothing is permanent and it remains a constant change. A change that will surely make you take a serious action when trading is too slow or has a low value. Surprisingly when you have patience with you all the time.

olushakes

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For me, I don't panic again because most times decision made in that scenario is always a faulty one. At first, I a filled with so much uncertainty and a lot of thinking which led to panics but now, all I do is just to ask myself whether there is an urgent need to be met as a result of the sale. If its yes, I sell and if its no, I hold no matter how low or how high price is at the time and the reason for that is because at the end of the day I want to be fully sure that I had no other choice than to sell.

jpoker272727

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Quote from: hahay on August 07, 2017, 03:27:43 AM

Quote from: Casdinyard on August 07, 2017, 02:55:21 AM

Quote from: IamHigh on July 20, 2017, 02:46:11 PM

I panic when I see coinmarketcap web site with red colors and I start to think like "Oh my god, I think I lost my all" because I make margin trade with leverage. This is very risky, with a small decline I can lose my all.

Or I can say that you're too over acting rather than panicking.
As a trader I think in the first place that we should embrace volatility and treat it as part of our lives. We should be use to this. When the market is bloody red, dont worry because soon it will recover again. Of course. we sometimes lose as we trade but having a proper knowledge will prevent this.

I guess it's a natural attitude from someone who keeps his money in lots of places (altcoins) when he see red colour in the many altcoins, but they not panic selling they're just shocked with what who happened. Patience and emotional control here is very necessary.

When you will be mature enough to accept losses as losses are just part of your trading then you will never get panic.

Because seeing red while trading is most common and getting panic for this reason definitely will impact good performances with trading. If we want to focus on trading to make good profit then we should not give chances to get panic.

Hamphser

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Quote from: hahay on August 07, 2017, 03:27:43 AM

Quote from: Casdinyard on August 07, 2017, 02:55:21 AM

Quote from: IamHigh on July 20, 2017, 02:46:11 PM

I panic when I see coinmarketcap web site with red colors and I start to think like "Oh my god, I think I lost my all" because I make margin trade with leverage. This is very risky, with a small decline I can lose my all.

Or I can say that you're too over acting rather than panicking.
As a trader I think in the first place that we should embrace volatility and treat it as part of our lives. We should be use to this. When the market is bloody red, dont worry because soon it will recover again. Of course. we sometimes lose as we trade but having a proper knowledge will prevent this.

I guess it's a natural attitude from someone who keeps his money in lots of places (altcoins) when he see red colour in the many altcoins, but they not panic selling they're just shocked with what who happened. Patience and emotional control here is very necessary.

Emotions would really be the main thing here because if we do see reds we do easily panic since we wont really like to see negative because we dont like to lose money and thats the time we do decide that we might panic sell to cut losses from those coins we do hold on. If you do believe on a certain coin you will really wait up for the price to comeback specially when we are holding Bitcoin too. Panic is normal but we should know how to control it.

13abyknight

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Quote from: sameer dadarwal on August 05, 2017, 08:54:08 AM

Yes people panic in this forum for different reasons.But most of the people panic for Bitcoin price.It is one of the main reason that why people panic.The Bitcoin price has a great impact on the people's mind.The continuos falling of price is the main reason why people became panic.

The price of Bitcoin isn't really a thing to panic about since everything has been cleared out since the BCH fork. Bitcoin has kept rising and when a trader sees a bit of a dip, he should never panic because its BTC in contention here. I don't know where you got the notion of 'continous falling of price' because all I see is green on the graphs for Bitcoin.

hahay

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Quote from: Casdinyard on August 07, 2017, 02:55:21 AM

Quote from: IamHigh on July 20, 2017, 02:46:11 PM

I panic when I see coinmarketcap web site with red colors and I start to think like "Oh my god, I think I lost my all" because I make margin trade with leverage. This is very risky, with a small decline I can lose my all.

Or I can say that you're too over acting rather than panicking.
As a trader I think in the first place that we should embrace volatility and treat it as part of our lives. We should be use to this. When the market is bloody red, dont worry because soon it will recover again. Of course. we sometimes lose as we trade but having a proper knowledge will prevent this.

I guess it's a natural attitude from someone who keeps his money in lots of places (altcoins) when he see red colour in the many altcoins, but they not panic selling they're just shocked with what who happened. Patience and emotional control here is very necessary.

AngelSky

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Quote from: bohr on August 06, 2017, 04:40:04 PM

Quote from: Fireblade on August 03, 2017, 04:06:01 AM

Quote from: boyptc on July 30, 2017, 04:26:41 PM

Quote from: raven7886 on July 30, 2017, 03:55:36 PM

No one will prefer to get panic. Only due to lack of strong technical analysis they find situations to get panic during trading. I guess when traders will be gaining experiences and knowledge, they can avoid those panic situations.

Yeah no one prefers to get panic but when seeing the price falling everyone seems to do it just to chase the profits that they can still possibly make. I did this before and I had to admit until now I still belong to the panickers club. I just sell whenever others are selling and make the price lower.

yes that is right that bitcoin price has a very deep impact on mind of the people, when they see the price falling down then they cannot bare to hold their position and sell even in lost.

Also I would like to add is that bitcoin has more abrupt movements than most markets except altcoin, if you were to see that your investments in stocks are losing 1% or 2% then you do not worry but it was not long ago that bitcoin lost 30% in a single day, when people see that, they panic thinking that the drop is going to continue but as we know the price always recovers.

It's not at all to be panic time. It's the time to gain your money with the help of bitcoin so.If you sell it today means,you get larger profit for your money and for which you keep that for long.Its the time to say cheers buddy.Not to worry.

Casdinyard

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Quote from: IamHigh on July 20, 2017, 02:46:11 PM

I panic when I see coinmarketcap web site with red colors and I start to think like "Oh my god, I think I lost my all" because I make margin trade with leverage. This is very risky, with a small decline I can lose my all.

Or I can say that you're too over acting rather than panicking.
As a trader I think in the first place that we should embrace volatility and treat it as part of our lives. We should be use to this. When the market is bloody red, dont worry because soon it will recover again. Of course. we sometimes lose as we trade but having a proper knowledge will prevent this.

gabmen

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Quote from: bohr on August 06, 2017, 04:40:04 PM

Quote from: Fireblade on August 03, 2017, 04:06:01 AM

Quote from: boyptc on July 30, 2017, 04:26:41 PM

Quote from: raven7886 on July 30, 2017, 03:55:36 PM

No one will prefer to get panic. Only due to lack of strong technical analysis they find situations to get panic during trading. I guess when traders will be gaining experiences and knowledge, they can avoid those panic situations.

Yeah no one prefers to get panic but when seeing the price falling everyone seems to do it just to chase the profits that they can still possibly make. I did this before and I had to admit until now I still belong to the panickers club. I just sell whenever others are selling and make the price lower.

yes that is right that bitcoin price has a very deep impact on mind of the people, when they see the price falling down then they cannot bare to hold their position and sell even in lost.

Also I would like to add is that bitcoin has more abrupt movements than most markets except altcoin, if you were to see that your investments in stocks are losing 1% or 2% then you do not worry but it was not long ago that bitcoin lost 30% in a single day, when people see that, they panic thinking that the drop is going to continue but as we know the price always recovers.

Yeah always and when it recovers, it recovers well that you almost can expect a big price hike. Those wbo've transacting with btc for a long time now are aware of this movement and panic is not something that comes to mind whenever there's a price drop but an opportunity to buy low.

bohr

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Quote from: Fireblade on August 03, 2017, 04:06:01 AM

Quote from: boyptc on July 30, 2017, 04:26:41 PM

Quote from: raven7886 on July 30, 2017, 03:55:36 PM

No one will prefer to get panic. Only due to lack of strong technical analysis they find situations to get panic during trading. I guess when traders will be gaining experiences and knowledge, they can avoid those panic situations.

Yeah no one prefers to get panic but when seeing the price falling everyone seems to do it just to chase the profits that they can still possibly make. I did this before and I had to admit until now I still belong to the panickers club. I just sell whenever others are selling and make the price lower.

yes that is right that bitcoin price has a very deep impact on mind of the people, when they see the price falling down then they cannot bare to hold their position and sell even in lost.

Also I would like to add is that bitcoin has more abrupt movements than most markets except altcoin, if you were to see that your investments in stocks are losing 1% or 2% then you do not worry but it was not long ago that bitcoin lost 30% in a single day, when people see that, they panic thinking that the drop is going to continue but as we know the price always recovers.

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