How do you Panic? - page 58. | Bitcointalksearch.org

cryptoshark_

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Quote from: Nodari_Cindicator on July 06, 2017, 01:57:16 PM

Never panic. A market selloff is often an opportunity to buy.
Btw, when you gain and lost some millions in a few hours it strongly improves your trading emotions

haha, yes it will definitly improve your trading emotions

but panic probably causing you to do something unwise.

richardsNY

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Quote from: Nodari_Cindicator on July 06, 2017, 01:57:16 PM

Never panic. A market selloff is often an opportunity to buy.

In most cases it is, but the main point of importance is that a lot people don't realize that they shouldn't invest their capital at once. If you invested all your money into something, and the price happens to tank significantly after that, how can you benefit from that opportunity with no money left? In the same way you should never sell all your holdings at once. I personally always stick to 10-15% to open or close a position. If the market goes up or down, I always have enough funds left to benefit -- this way you aren't limiting yourself.

Quote from: Nodari_Cindicator on July 06, 2017, 01:57:16 PM

Btw, when you gain and lost some millions in a few hours it strongly improves your trading emotions

People often forget that they don't lose/gain anything as long as they aren't selling. In most cases the panic that follows after a dump is completely unnecessary. Emotions are worthless when it comes to any sort of tradable market.

freeyourmind

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I don't really panic much anymore. I've witnessed the volatility long enough to understand that it happens repeatedly.

I was investing though during the 2008 financial crisis, and lost basically months of income at the time within a couple days. That just sort of felt like a stomach ache lol. Terrible experience, but a lesson to be learned.

Kevin77

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Quote from: okissabam on July 05, 2017, 01:53:51 AM

So far I never experienced that kind of feeling when I tried trading, I was determined that when I start trading I would just hold the coins and go for long term instead of short term because as far as I've noticed I don't think now is the right time to do short term trading. I think it's a matter of self preservation and self control when it comes to that so you won't panic.

Nicely described ! Panicking is totally a matter of low confidence in your coin and lack of patience. If you are seeing going dumping, just have a cup of coffee and hold on to your coin.
Trading in crypto market needs a lot endurance, wisdom and big heart. And with the passing days, gradually you learn about the continuous changing environment of the market. Watching the dumped coins regaining great value can help u in managing your negative emotions. Stay optimistic! Have faith in your coin and decision. It will truly help you in playing safe.

Nodari_Cindicator

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Cindicator Bounty Manager

Never panic. A market selloff is often an opportunity to buy.
Btw, when you gain and lost some millions in a few hours it strongly improves your trading emotions

Monnt

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Quote from: Zadicar on July 03, 2017, 01:13:04 AM

Quote from: mizarro on July 02, 2017, 10:47:46 PM

Just spill the tea/coffe on your computer when you panic and than you will not do anything stupid

Easy to say but its really hard to do because this thing would really depend on how strong the self control of a certain person. If hes sensible enough he would definitely do things that would make him calm down instead of panic since he does know what would be the things might be done if we are on panic mode. We usually make such bad decision when we are on this current state thats why its important to have a good self control. When i do panic i usually get out in front of my pc and do something that relieves my stress.

While I agree with you for most part of your post, but actually sometimes panic is a good thing. Recently I saw the GLT bouncing high on exchanges and I bought them the the price was like 300% the value I bought for and hence I panicked as I was in dilemma if to sell them or hold them.
At the end I ended up selling up, now the price is below what I initially purchased, so had I not panicked I might have ended up keeping dust.

dixasset

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BTC is the basis of the criptomonedas, they do not sell hastily, BTC will be in a few years to more than 10000 $

Baofeng

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Of course when you see that the price is going down very fast and you are thinking that you are losing your investment. Then you panic and push the sell button without ever thinking what the hell did you do it. But now, I usually don't panic eventhough I'm seeing a price dump. I'll just stay calm and see how it pans out.

tigershark

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Quote from: rickadone on July 06, 2017, 01:44:20 AM

Quote from: mizarro on July 02, 2017, 10:47:46 PM

Just spill the tea/coffe on your computer when you panic and than you will not do anything stupid

Haha good one but now a days people have smartphone and spilling coffee on PC might make your bitcoins burn lol if you keep them in core wallet.

Anyways I believe the panic among people is because they can't just digest how a certain entity which has just came into existence a few years ago can reach such high values and they are worried since bitcoins is not centralized and they can't complain in case they loose.

With major altcoins or bitcoin, I don't normally panic. I will hold and wait for the price to recover.

On the other hand, you never know if the minor altcoins will ever recover when they start dropping in a big way. They could just drop to nothing. In those cases I will panic and sell before I lose everything.

logicgate

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Quote from: susila_bai on July 04, 2017, 06:05:07 PM

I never get panic because the reason is that what ever i am earning in that 20% i keep it for long term investment and balance i convert it to fiat currency when ever i am in need of fiat currency to fulfill my expenses.

To me I think its better than those person who see its price is dumping or pumping feel panic and sell it. So that is better way that you keep or hold 20% profit for future and remaining you convert it to fiat money. I think that your 20% btc will be more increase in future and you will get a big profit.

ladydark

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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?

In my earlier days of trading,i had no clear knowledge of altcoins and so i used to see some altcoins price rising high and due to FOMO,i used to buy such coins without being aware of that it is being pumped and when its price started to fell down suddenly,due to panic,i sold them at very low cost and ended with a huge loss.

rickadone

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Quote from: mizarro on July 02, 2017, 10:47:46 PM

Just spill the tea/coffe on your computer when you panic and than you will not do anything stupid

Haha good one but now a days people have smartphone and spilling coffee on PC might make your bitcoins burn lol if you keep them in core wallet.

Anyways I believe the panic among people is because they can't just digest how a certain entity which has just came into existence a few years ago can reach such high values and they are worried since bitcoins is not centralized and they can't complain in case they loose.

RedX

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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?

I really don't go into panic mode when the coins that I hold dumped too much because I know that it will just bounce at a later time. But if the case is my coin is going to be delisted, I think me and everyone who hold that coin is really doing panic selling now.

okissabam

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So far I never experienced that kind of feeling when I tried trading, I was determined that when I start trading I would just hold the coins and go for long term instead of short term because as far as I've noticed I don't think now is the right time to do short term trading. I think it's a matter of self preservation and self control when it comes to that so you won't panic.

BTC786

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Do NOT BUY or SELL at the Peak. Let the market calm down and stable

boyptc

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★Bitvest.io★ Play Plinko or Invest!

Quote from: susila_bai on July 04, 2017, 06:05:07 PM

I never get panic because the reason is that what ever i am earning in that 20% i keep it for long term investment and balance i convert it to fiat currency when ever i am in need of fiat currency to fulfill my expenses.

Good for you, before I get easily panic. And I don't have the calm mind way back then. And my way when I get panic is I'm not really that confident after selling my bitcoins. After selling the price gets higher and that is making me sorry with that decision of selling so for now I refuse to sell.

bitcointarget

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Quote from: susila_bai on July 04, 2017, 06:05:07 PM

I never get panic because the reason is that what ever i am earning in that 20% i keep it for long term investment and balance i convert it to fiat currency when ever i am in need of fiat currency to fulfill my expenses.

Interesting because I only panic when the market undergoes a huge dump or pump. The rest is always okay by my side. I'm a calm person that not getting affected easily.

Pearls Before Swine

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I don't panic because I don't invest heavily in crypto, and I certainly don't invest more than I'm comfortable losing. Everything is freaking gravy right now. If you're the type of person who can't stomach watching his crypto wealth drop by half in a day, then you're in the wrong area of investment. It's that simple. If you're the type who panics when the market drops and can't ride out the temporary losses, you're in the wrong place. And given how much bitcoin and the major altcoins have risen in the past year, if you have reason to panic then you're probably buying the wrong stuff anyway. Emotions are a trader's worst enemy. Remember that, it's valuable advice.

susila_bai

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I never get panic because the reason is that what ever i am earning in that 20% i keep it for long term investment and balance i convert it to fiat currency when ever i am in need of fiat currency to fulfill my expenses.

carriebee

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Quote from: jekjekman on July 04, 2017, 02:15:41 PM

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?

When I am new at trading crypto currency I am easily panic when my coins suddenly drops of a 5 percentage then I will panic sell and after an hour it goes high again and even higher then I am so down that time because I feel so unlucky but when time comes after you experience so many of it you will learned from it and you will be more patient and your panic attacks will be no more hindrance to you.

We panic if the price we trade is dump and sometimes you cant hold your emotions. So when Im new in trading altcoins I usually experience this that didnt know what to do and eventually sell the coins I have. But after the months pass by Ive learn so many things in trading. And the price movement in the market is usuall the time it will pump and dump.

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