Topic: How to escape loss as an altcoin trader - page 10. (Read 1176 times)

Many traders usually evaluate on Bitcoin basis and accept Bitcoin as base currency. For this reason, when many people make alternative crypto transactions, the money they usually switch to is Bitcoin, and their purpose is usually to increase the amount of Bitcoin. To be honest, I think this behavior is a novice investor movement, although it makes sense, because I was doing this in my amateur times. I am not saying to boast, but I do transactions on our day with stable cryptocurrencies and I think this is the right professional move. Why do I think this way? The answer is actually quite simple, the goal here is to make money by trading. Although Bitcoin is perceived as the base currency, in fact, our first investment move is usually in cash and this currency is very dense in USD. For this reason, it is necessary to evaluate the investment made by looking at it from a wide frame, and in the blind spot of this framework, our main investment is the USD currency. Therefore, I have been making all my trading transactions with stable crypto pairs or PERP trading pairs in the last 6 months. My main goal is not to increase Bitcoin, but to increase my main capital as USD, which is my base investment value. In short, although it is a point of view, I think this way and assume that this is true.

There is no way to escape loss while trading  , even experts who know how to read coins charts do lose most times too, sometimes chart shows huge recovery incoming and once you followed this things takes an unexpected turn, that's crypto for you, always unpredictable

I do not think it is possible to escape loss as a trader, there will always be losses.
The core importance is to ensure that, there are more profits than loss.

People are not focussing to the bitcoin only. Im also an altcoin trader but im also using bitcoin and USDT as the main pair to trade every day. Sometimes they are trying to bet on the rumour that comes for bitcoin and that's why they were still converting their profit to the bitcoin. There were a hundred reasons for that. I was also doing it too but that doesn't mean if they are always converting all of their profit to the bitcoin.

I want to assume that there are few people, who make several profits from trading altcoins, but sell their profit to bitcoin, and then over time while holding bitcoin, it dumps and their profits dips alongside bitcoin.

Why not do it this way ?
Since you trade mostly in altcoins, as soon as your make your profits, sell them to stable coins or fiats, close that trade chapter.

If you are passionate about hodling bitcoin, always convert to usdt or other stable coins and be patient for a fair entry point. Because the market isn't running away

What do you think everyone ? is there a better pattern that can be practiced?

I am open to more suggestions.