How to escape loss as an altcoin trader - page 6.

bitcoinst

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Quote from: terrific on April 20, 2020, 03:10:07 AM

The point is there are many traders that don't trust USDT and other stable coins.
Escaping losses is like you're avoiding the whole market's devastation. You can avoid this by getting out completely.
But as long you stay, don't expect you will be free from it.

I believe the author is interested in how to reduce losses during the trading itself and not how to avoid trading itself.
As mentioned above, you need to close all transactions in plus. Even if this plus is small. This is the key to your mental health.
It is extremely difficult to come to this, but this is what every trader should strive for.
Only with experience can you identify risk points, by lowering which your profit will rise.

Hippocrypto

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Quote from: ?? on ??

For a trade for the loss is common, but we all have different ways of trading to make it more hope to get the profit and way you say the one that we often use, but sometimes we are also difficult to avoid loss because it is too lusting in trading, but if we can wait patiently then the profit we get from Bitcoin and Altcoin is huge.

The patience is there at all times, but how long a trader will sustain while bitcoin and altcoin value has no assurance. While we didn't see more signs that there's a potential increase which contributes to the growing market. However, in avoiding your loss don't ever decide quickly but rather choose to hold your coins safely.

terrific

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The point is there are many traders that don't trust USDT and other stable coins.
Escaping losses is like you're avoiding the whole market's devastation. You can avoid this by getting out completely.
But as long you stay, don't expect you will be free from it.

lienfaye

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Quote from: ?? on ??

For a trade for the loss is common, but we all have different ways of trading to make it more hope to get the profit and way you say the one that we often use, but sometimes we are also difficult to avoid loss because it is too lusting in trading, but if we can wait patiently then the profit we get from Bitcoin and Altcoin is huge.

Losing is part of trading and if a trader already experience it you will come up with a better plan to use the next time you trade.

We can minimize our chance to lose if we have a strategy. Converting in a stable coin is good but it depends on every trader.

Sometimes we prefer to hold in btc then take advantage the dip once it occur.

Btc_1856

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Quote from: Krabby on April 14, 2020, 09:06:02 AM

Trading altcoin requires a lot of experience. So you need to have a lot of experience to trade altcoin effectively. If you want to make a loss when trading altcoin, you need to know chart analysis in the short term, and always update the market every day. Also always set a stop loss because bitcoin can be dropped at any time and it will cause the altcoin to bleed.

Not only chart analysis he needs to analyze the fluctuation of Bitcoin because without proper prediction bitcoin price makes them lose their money with the altcoins. Experience is the major concern about to justify the price of Bitcoin if we place the order at the higher price definitely we might lose without proper analysis.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: isaac_clarke22 on April 09, 2020, 10:19:52 AM

I've tried before in my day trading to convert it to USDT and it seems like a good strategy to extract your profit from your capital anyway.

For day trading whatever coin you are using will likely be converted and reconverted at short intervals so there what you are holding as intermediary becomes less important. Of course if you get so lucky that one fine day you are trading and that coin gets frozen on exchanges for investigation. Roll Eyes

Quote

I did not trust Tether also before because it seems like way too immediate to have a stable coin backed by USD like we all know that is regulated and regulation isn't going so well in cryptocurrency sometimes.

Nobody does I am sure. But what else could you use? For sites like Binance you can use BNB but again BNB is also a disguised ponzi scheme whose price gets pump and stays there but for how long is not known to anybody. Exchange tokens function in the same way. They are not safe so use them with caution.

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Trading altcoin requires a lot of experience. So you need to have a lot of experience to trade altcoin effectively. If you want to make a loss when trading altcoin, you need to know chart analysis in the short term, and always update the market every day. Also always set a stop loss because bitcoin can be dropped at any time and it will cause the altcoin to bleed.

Finestream

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Quote from: Akiko on April 13, 2020, 11:41:35 AM

Even the altcoin you are traded is not have any pair to USDT yiu can still able to convert it to usdt but you need to use other market.

Definitely, you can just trade it with bitcoin and then trade to USDT, or vice versa, that way you can withdraw the funds or if you like to keep it safe, you'll keep a USDT so its value will not be volatile, and that's the reason why we need a stable coins in the market.

Quote from: Akiko on April 13, 2020, 11:41:35 AM

For example token - ETH pair then after having ETH you are now able to use the ETH-USDT pair it will have the same result, you are only need to add another trading fees for this convertion but its only a little amount you will waste doing that.

Some coins with less volume will require more process but the process is just easy so it's not really a problem.
It's necessary that as a trader we know these things as that is the only way we can protect ourselves against volatility, when needed to.

Akiko

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Quote from: ethereumhunter on April 09, 2020, 10:06:10 AM

Quote from: Arkann on April 08, 2020, 12:48:16 PM

Quote from: ethereumhunter on April 08, 2020, 09:10:19 AM

It's hard to make a profit from stable coins, even if they can, their profit is not bigger than the other coins. The stable coin can works for you if you sell your bitcoin or altcoin, and hold it until the bitcoin or altcoin is down so deep so you can buy back again that bitcoin or altcoin. But if you are okay with the risk, then you should try to trade and make a profit. The lose will always be on the trader, whether they want or not, and that will depend on how good are you to manage the risk.

I apologize, but maybe I didn’t understand the essence of your dialogue a bit, but in fact I also use USDT in trading pairs to trade certain cryptocurrencies. For scalping in my case it is very profitable. I choose a specific cryptocurrency, for example, ADA, LEO or LINK, and buy this coin or sell it using USDT. Of course, I do not have much experience in trading, but I minimize my risks by using the USDT trading pair with other cryptocurrencies.

Good if you can make a profit from altcoin pair USDT. People who trade with altcoin pair bitcoin is not trying to trade altcoin pair USDT because many of altcoin is not traded in the USDT list. Besides that, they think that the profit will not bigger if they still hold in the bitcoin or altcoin forms, and not USDT forms.

So they still traded as usual, and hold the altcoin or bitcoin forms, not in USDT. The longer they hold the altcoin or bitcoin, there will be an increase or decrease for the coin, and that can make them stress. But if they convert it into USDT, they will not see the decrease of the value because the USDT is not down too far.

Even the altcoin you are traded is not have any pair to USDT yiu can still able to convert it to usdt but you need to use other market.

For example token - ETH pair then after having ETH you are now able to use the ETH-USDT pair it will have the same result, you are only need to add another trading fees for this convertion but its only a little amount you will waste doing that.

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Quote from: Vishnu.Reang on April 07, 2020, 01:12:52 PM

There is only one way to escape from loss while trading. Stop trading altogether. Even the best of the day traders have a strike rate of only 55% to 60%. They are able to make profit, because of their adherence to strict profit-booking and stop-loss targets. And if you want to become a successful trader, more than anything the stop-loss target is important. Never ignore that level while trading.

That is a reality that for some reason people do not want to accept, maybe they are too greedy or maybe they have expectations that are simply too high but it is impossible to always win your trades, you must accept that you are going to lose some money to the markets in order to have the chance of multiply your money, those that are successful are the ones that are able to manage their money and their emotions and are capable to cut their losses short and to let their winners run consistently.

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Quote from: TheUltraElite on April 09, 2020, 02:50:24 AM

Quote from: Maestro75 on April 04, 2020, 02:02:47 PM

~

Well no strategy is completely full-proof or perfect. There will be pitfalls but these will be understood clearly when the strategy is being actively used.

So it is always theoretically seeming correct but errors do pop up and so trading will incur some losses on the part of the trader. Using a stablecoin as a central pivotal reference does have its consequences.

The Tether is not completely trusted to be a part of the cryptocurrency ecosystem but I think you can use it to your own advantage. Still the problem is Tether breaking down and getting hacked or stolen is always there.

I've tried before in my day trading to convert it to USDT and it seems like a good strategy to extract your profit from your capital anyway.
I did not trust Tether also before because it seems like way too immediate to have a stable coin backed by USD like we all know that is regulated and regulation isn't going so well in cryptocurrency sometimes.

ethereumhunter

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Quote from: Arkann on April 08, 2020, 12:48:16 PM

Quote from: ethereumhunter on April 08, 2020, 09:10:19 AM

It's hard to make a profit from stable coins, even if they can, their profit is not bigger than the other coins. The stable coin can works for you if you sell your bitcoin or altcoin, and hold it until the bitcoin or altcoin is down so deep so you can buy back again that bitcoin or altcoin. But if you are okay with the risk, then you should try to trade and make a profit. The lose will always be on the trader, whether they want or not, and that will depend on how good are you to manage the risk.

I apologize, but maybe I didn’t understand the essence of your dialogue a bit, but in fact I also use USDT in trading pairs to trade certain cryptocurrencies. For scalping in my case it is very profitable. I choose a specific cryptocurrency, for example, ADA, LEO or LINK, and buy this coin or sell it using USDT. Of course, I do not have much experience in trading, but I minimize my risks by using the USDT trading pair with other cryptocurrencies.

Good if you can make a profit from altcoin pair USDT. People who trade with altcoin pair bitcoin is not trying to trade altcoin pair USDT because many of altcoin is not traded in the USDT list. Besides that, they think that the profit will not bigger if they still hold in the bitcoin or altcoin forms, and not USDT forms.

So they still traded as usual, and hold the altcoin or bitcoin forms, not in USDT. The longer they hold the altcoin or bitcoin, there will be an increase or decrease for the coin, and that can make them stress. But if they convert it into USDT, they will not see the decrease of the value because the USDT is not down too far.

shoreno

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Quote from: Asuspawer09 on April 09, 2020, 04:06:56 AM

Quote from: Ifemini on March 30, 2020, 08:23:14 AM

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.

We cannot really avoid loss in my opinion since we cannot predict accurately the market price of a certain token and also we could not easily control the market.

I think the best thing to do here is just to buy loss and sell high when you could already make some profit, If you are going to sell already your investment if it is already pumped in the market you should sell it already and then wait again for the price to dump and then reinvest. In my opinion, this is better than just investing in a token for the long term since even bitcoin could not just pump all the time even at this time the market is dumping and pumping.

buy at loss ? or you mean to say buy at lows because that isnt right when you buying at a loss because that will only be hard for you to recover what you have bought but buying at lows is right because you wont be loosing anyway and you can easily earn a profit once there is a pump that happen . there are also analysis and expert predictions that we can use to avoid loosing .

its not bad to seek for profesional help if you think you are lacking of something so that you can escape loosing for a while .

Asuspawer09

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Quote from: Ifemini on March 30, 2020, 08:23:14 AM

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.

We cannot really avoid loss in my opinion since we cannot predict accurately the market price of a certain token and also we could not easily control the market.

I think the best thing to do here is just to buy loss and sell high when you could already make some profit, If you are going to sell already your investment if it is already pumped in the market you should sell it already and then wait again for the price to dump and then reinvest. In my opinion, this is better than just investing in a token for the long term since even bitcoin could not just pump all the time even at this time the market is dumping and pumping.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Maestro75 on April 04, 2020, 02:02:47 PM

Your strategy is perfect. This is what I also do a few times that I have traded. Sell off and then convert to a stablecoin. I like to use Tether as my stablecoin of choice. Also, I can peg whatever token on buy order and allow it to trigger when price get there.

Well no strategy is completely full-proof or perfect. There will be pitfalls but these will be understood clearly when the strategy is being actively used.

So it is always theoretically seeming correct but errors do pop up and so trading will incur some losses on the part of the trader. Using a stablecoin as a central pivotal reference does have its consequences.

The Tether is not completely trusted to be a part of the cryptocurrency ecosystem but I think you can use it to your own advantage. Still the problem is Tether breaking down and getting hacked or stolen is always there.

minairia3

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Quote from: Vishnu.Reang on April 07, 2020, 01:12:52 PM

There is only one way to escape from loss while trading. Stop trading altogether. Even the best of the day traders have a strike rate of only 55% to 60%. They are able to make profit, because of their adherence to strict profit-booking and stop-loss targets.

This is an attitudd that every traders should have. Yes some of the traders dont let their emotions and greed taken them. As long as there are profits already they are getting out of the scene no matter what happened or even they missed the great cliff of mooning.

What OP suggest is the most safest way but trust me, you would not wanted to always convert into stable coins when you are losing to the ground. I hate to say it but thats market and we should learn to deal with it.

DarkDays

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The trend is your friend, it's very simple.

Wait until the price of an asset breaks its previous high after being on a downtrend for some time. This indicates a trend reversal.

Wait for consolidation at the new price point and wait until a solid support wall forms, then buy in.

Usually, this period of consolidation precedes further upwards action.

flagpara

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Quote from: Ifemini on March 30, 2020, 08:23:14 AM

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.

You can't escape from your loss without you become a hard holders or wait until minimize your loses. Now has the highest possiblity to increase money if you convert your money to Bitcoin before halving. Cryptocurrency is meant to me risk, if you exchange to USD, your are in limited profits what did you earned in trade.

wingfield_crypto

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The crypto market is always unpredictable. That's why you can't just expect winning investments. Most experienced traders manage to make consistent profits, but they also lose from time to time. I think the key to success is given by this experience and the way you know how to manage your investments. I use the profits from altcoins to buy other altcoins and so on.

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Quote from: ethereumhunter on April 08, 2020, 09:10:19 AM

Quote from: ?? on ??

Quote from: nreal on April 08, 2020, 05:26:56 AM

I don't think it's that simple, the hardest thing is that you make a profit. If you want to convert to a stable currency you can trade USDT pairs directly

And if you move to stablecoins, how do you make a profit with it? If you want to make a profit in this market then you should take risks. And you should manage your risk as smartly as possible

It's hard to make a profit from stable coins, even if they can, their profit is not bigger than the other coins. The stable coin can works for you if you sell your bitcoin or altcoin, and hold it until the bitcoin or altcoin is down so deep so you can buy back again that bitcoin or altcoin. But if you are okay with the risk, then you should try to trade and make a profit. The lose will always be on the trader, whether they want or not, and that will depend on how good are you to manage the risk.

I apologize, but maybe I didn’t understand the essence of your dialogue a bit, but in fact I also use USDT in trading pairs to trade certain cryptocurrencies. For scalping in my case it is very profitable. I choose a specific cryptocurrency, for example, ADA, LEO or LINK, and buy this coin or sell it using USDT. Of course, I do not have much experience in trading, but I minimize my risks by using the USDT trading pair with other cryptocurrencies.

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