Topic: How to escape loss as an altcoin trader - page 3. (Read 1187 times)
We confidently hold bitcoin and let it move sideways or pump itself. We don't mind using stable currencies but if you are very delicate and value-sensitive, you can do this many times. It's a very well known strategy but you can't say Let everyone know what to do.
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.
There is nothing to be worried about if you buy Bitcoin and the price dips, it's more of a safe haven compared to altcoin, there is a high chance of recovery but it's probably not the same with altcoins, once some altcoins dumps I'm value they will never climb up again 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.
There is no way out for escape loss while trading, its hard to say that you can surely be able to profit from any altcoin trading . Sometimes some hype / rumour about bitcoin can bring some bucks but that can be called escape loss from altcoin . Different peoples have Different trading strategy for their altcoin trading , AS a reason an altcoin trader bitcoin is the mother of all altcoin ,so reason behind converting their profit to the bitcoin is so obvious . Always do your research before investing .
There are several ways to escape loss as an altcoin trader, it is just that you refuse to take notice due to your immense believe in your capabilities.
You do not enter into every trade as a trader, there are some trades you ignore and look away waiting for the next entries.
Don't push your thoughts on the market, understand the markets emotion and trade accordingly.
I am typically an example, second trades of same coin hardly favours me and as you rightly said keeping profits and joining back with capital will also help in curtail loss. Many lost huge because if greed though. And one understanding trading well would help too.
when trading I suggest not to be greedy if you want to re-use the coin you bought before then you can wait until the price falls again or at least you buy a coin at the initial price when you buy only need to open an order at a low price and wait until your order is hit.There is no way out for escape loss while trading, its hard to say that you can surely be able to profit from any altcoin trading . Sometimes some hype / rumour about bitcoin can bring some bucks but that can be called escape loss from altcoin . Different peoples have Different trading strategy for their altcoin trading , AS a reason an altcoin trader bitcoin is the mother of all altcoin ,so reason behind converting their profit to the bitcoin is so obvious . Always do your research before investing .
I do agree with your first line, there is obviously no way out to stay out of loss completely as a trader. But if you focus on what strategy works for you and maintain it, you will be winning most of your trades but that's if you are good with technical analysis. My strategy for trading alts is this; i donot aim for too big profit, i set stop loss for all trades, i do not use big funds for leverage trading, i convert to USDT when i analyze and think the market will dump, i hold a bulk of my portfolio in Bitcoin without trading it.
There is no way out for escape loss while trading, its hard to say that you can surely be able to profit from any altcoin trading . Sometimes some hype / rumour about bitcoin can bring some bucks but that can be called escape loss from altcoin . Different peoples have Different trading strategy for their altcoin trading , AS a reason an altcoin trader bitcoin is the mother of all altcoin ,so reason behind converting their profit to the bitcoin is so obvious . Always do your research before investing .
I am typically an example, second trades of same coin hardly favours me and as you rightly said keeping profits and joining back with capital will also help in curtail loss. Many lost huge because if greed though. And one understanding trading well would help too.
when trading I suggest not to be greedy if you want to re-use the coin you bought before then you can wait until the price falls again or at least you buy a coin at the initial price when you buy only need to open an order at a low price and wait until your order is hit.I can't agree more, nothing kills in life than greed amd it's applies perfectly in cryptocurrency trading. I seriously got burnt the few times greed got an hold of me while trading. Before venturing into any trade, it is better to set your goal and when you hit your target range, take profits and if you can risk the money then you hold on to the trade. Knowing what you want is the basic instinct that will help you fight greed while trading
I am typically an example, second trades of same coin hardly favours me and as you rightly said keeping profits and joining back with capital will also help in curtail loss. Many lost huge because if greed though. And one understanding trading well would help too.
when trading I suggest not to be greedy if you want to re-use the coin you bought before then you can wait until the price falls again or at least you buy a coin at the initial price when you buy only need to open an order at a low price and wait until your order is hit. 
I am typically an example, second trades of same coin hardly favours me and as you rightly said keeping profits and joining back with capital will also help in curtail loss. Many lost huge because if greed though. And one understanding trading well would help too.
As a trader there is no way that you can escape lost total but can only minimize it to lowest level. I would rather invest the profit i realise from altcoin to stable coin rather than investing in btc.
Just as you have rightly stated, the core reasons of escaping loss, is to make sure the loss is at the lowest level.
Which also means that, you have to make more profits than your losses, for you to really be in profit.
Either altcoins or bitcoins; both are rewarding, you just have to find the one which you are more suited to.
If you selected attract in trading altcoins exactly for profit so therefore evidently converting your profits to fiat or stablecoin will be the preeminent opportunity but while you pulled out awareness in trading altcoins to step up your bitcoin property at that moment advertising them to bitcoin has to be your quantity one priority. You taught market is not going anywhere but anytime market can suddenly spike thats why you can miss potential gain.
How to escape loss:
As a trader, develop a trading skill which you follow consistently, define each trade target, use the stop loss function. This function helps a lot and could force you out of a trade as well due to sudden market shakedown and recovery. As a trader, define each goal and follow it do not get excited about price gain follow your laid down strategies.
As a trader, develop a trading skill which you follow consistently, define each trade target, use the stop loss function. This function helps a lot and could force you out of a trade as well due to sudden market shakedown and recovery. As a trader, define each goal and follow it do not get excited about price gain follow your laid down strategies.
As a trader there is no way that you can escape lost total but can only minimize it to lowest level.
I don't agree about that because when you are getting a loss in coin A and then you take a big risk by use the your capital from cut-loss the coin A and try to invest in the new IEO that launched on binance and you can recover it instantly.There was a lot ways and that depends on how you can manager yourself to find the best way,
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.
It's not about the pattern, it's about the technique and decision making because not all the altcoin holders will do the same to what you have mentioned maybe there are few but that is their mistakes and I am sure that they will not do it again. Escaping loss is very important and you need to be wise in every decision that you are going to make so you can assure that you will not regret those decisions. 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.
Putting your profit to stable coins is a good idea but sometimes other traders become greedy once they are already earning a profit and because of it they end up losing even their investment capital.
Many of us lost our profits and capital because of greed. The main theme is wait for the right time its place for keep your patience to the top and have some gut to hold on with your experience to trade altcoin effectively. Investing with a random coins then the risk of facing losses will be high . Best is try to invest cmc top 10 coin like Btc and Eth are the best mine best choice .
You are right but it is easier to say these things than implementing them as strategy, what will one do when he enters the trade after 10 to 20 dip but the price keeps falling, just imagine how many loss trades most traders are in because most alts are below 90 percent of their previous highs, in such a situation i do not think so any strategy will work.
As a trader there is no way that you can escape lost total but can only minimize it to lowest level. I would rather invest the profit i realise from altcoin to stable coin rather than investing in btc.
There are many kind of traders available. And one those are trade Alta with btc they don't care about the value in USD they care about how much btc they earn. And they are hopeful about btc. I dont trade very much but when I do I always go with alt btc pair. Cause I love to hold btc and boost it. So it's upto you but one thing I appreciate you that whenever you make your profit leave the trade. Most people lose this position.
When you lost chance with trading in altcoin you can try with trading in bitcoin only, I know this become good chance for trading in bitcoin with stable price and keep going up although ever down. Without big risk with bitcoin trading you can take profit every day and not have big risk with your trading.
To reduce loss, I mostly trade altcoins on USDT pair, unless there is no USDT pair for that coin. I choose USDT because most likely it has more trading volume compared to other stable coins. In the real sense there is no way a trader can avoid loss totally, you just need to try winning more than losing more. Stop limit has been helpful, I don't joke with it.
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