How to escape loss as an altcoin trader - page 7.

ethereumhunter

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Quote from: nreal on April 08, 2020, 04:26:56 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.

plvbob0070

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losses are part of trading , but you can minimize on losses by not focusing in one or two coins, experience traders will invest on 2 or more coins so that if they loss one , they have other coins which can have profits, this are some of the mistakes of new comers , they tend to invest everything in one coin, they don't scatter their funds , to maximize profit and , to have less losses

You got it @akirasendo17, in all trading activities the losses will always there but, the good thing is we can lessen it if we already know how it will work. No one can escape from losses especially if you will invest and trade with cryptocurrency and that's the reality and I always see that before you start with this kind of activities you need to have various knowledge about it because it can somehow help you to lessen or cut your losses. I also agree with this, it always risky to put all your funds(money) in one coin and the worst is once you only focus on one coin, you will suffer from big losses.

Take note of this quote "Do not put all your eggs in one basket", I always keep this line on my mind and maybe by just seeing this you will realize how important to separate your investment. After you conduct your investment, just diversify it.

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Quote from: nreal on April 08, 2020, 04:26:56 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

No one can ever earn profit from stable coins, it just like you put some of your money in a bank/piggy bank. Being scared about taking risks will only end up losing an opportunity to earn good profit. Having a smart way of handling risk in investment will totally help you to manage and maintain your portfolio and investment.

Bitcoinislife09

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Quote from: kceekcee on April 03, 2020, 12:34:46 PM

Quote from: Ifemini on March 30, 2020, 07:23:14 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.

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.

The most effective was just don't sell your token, their will be no lost in your investment if your not going to sell the token itself. Buying low and selling it on high is still the best and only method.

In able to escape loss as an altcoun trader you need to be always updated of the charts and trades. If the alt coin value is low you need to buy more altcoin and wait until such time that the value becomes higher. Through that you can have so much return on investment. In bitcoin trading you just have to invest your money and wait for the charts and trades for the alt coin value to go higher. With thus situation you may enjoy your time with your family and colleagues while gaining and earning so much money.

nreal

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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

Iyanu14

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Quote from: Ifemini on March 30, 2020, 07:23:14 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.

It is almost impossible to avoid loss totally in trading, loss is part of risks taken in trading. What I could have said is mitigating loss as a trader. Loss can definitely be reduced to the nearest minimum by taken some precautions and through experience.
1. Don't be greedy: once you get some gain from that investment, it's OK. Don't wait until everything is forfeited
2. Don't put your whole eggs in one basket. Spread your potential loss or risks across investments and not just one.

gundala

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Quote from: Ifemini on March 30, 2020, 07:23:14 AM

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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.

Every trader has their own strategy. Nobody wants a loss, it's just a risk. I have a friend who prefers saving profits during trading in BTC, he said: for long-term investment. He doesn't care when it dumps, he just holds, be patient, and sells it when it's up again. Of course, he didn't put all his profits there, because I also knew he had a small business.
For me, preferring to immediately take the profit into fresh money, I save in a bank account. That's a safe way, my version. Yes, everyone has their own way, we cannot force it, because surely the decision has been considered and adjusted to their needs. There is nothing wrong, with a record of understanding this ecosystem well.

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Quote from: Ifemini on March 30, 2020, 07:23:14 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.

There is no standard answer for this since everything will depend on how the market is moving at the moment, when altcoins begin to outperform bitcoin and we see a reversal of this pattern this could be for two different reasons, if the whole market is going down then the correct thing to do is to get stable coins, but if altcoins begin to go down only against bitcoin but they are still going up against fiat then that is the moment to get bitcoin so you can still keep getting profits and grow your capital.

Vishnu.Reang

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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.

trauchot

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There are a lot of options to get a stable profit using altcoin trading, but not all of course the options will suit everyone, for example, I’ve been successful in selling a lot of altcoins before the entire cryptocurrency market has fallen and invested all the profit received from the sale of many altcoins in bitcoin and already made it x2 profit, so everything is possible, just everyone has their own ideas and goals.

someone703

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Quote from: ElmedoRator on April 05, 2020, 07:50:43 AM

You need to always set stop loss when trading altcoin. Do not rely on it and hope for it because if altcoin collapses, its price will surely fall deeply and it is difficult to recover in a short time. I always set a stop loss 5-10% depending on the altcoins I buy

Absolutely agree with you, if the altcoin we buy collapses then we should sell them as soon as possible and wait for the better opportunity to make a profit. Never try to hold it because its price will go down even lower, I've had this case a few times in the past and it helped me gain more experience in this market.

LuciferMorningstar

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Shallow up your loss and move on. Don't clinch on it and let is stuck at your mind, affect the later decision. Sometimes, we have to know when to give up as you can't save a sinking ship of altcoin.

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Quote from: Lhaine on April 05, 2020, 04:33:25 AM

Quote from: Meowth05 on April 04, 2020, 11:21:54 PM

My suggestion is to think of trading altcoins as the same as forex, you will not get dividends if you hold for too long and sometimes trust your gut when you want to exchange.

If they want to lessen the lost if they trade into altcoin they should set cutloss everytime they make an order . Many trader's lost big amount because they dont know how to use it, which is actually the most important thing you need to know before starting to trade.

If they are big traders, then I think they must know how to set a cut loss for their altcoins. The reason they lose so much every time the market collapses is because they use margin, it will easily make them more profitable but it will also easily make them lose a lot in this market.

Finestream

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Quote from: ElmedoRator on April 05, 2020, 07:50:43 AM

You need to always set stop loss when trading altcoin. Do not rely on it and hope for it because if altcoin collapses, its price will surely fall deeply and it is difficult to recover in a short time. I always set a stop loss 5-10% depending on the altcoins I buy

I experience that in the past, I don't do stop loss as I was too confident that altcoins will still recover easily after the bull run, so now, I have some small regret of doing that but we are just traders, we are playing the big guessing game, we never know what will happen tomorrow, so experience is really important as we learn from it.

Firefoxx

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Trading loss cant never be avoided but once can curtail though which is by trading and keeping your profits aside, even if you misses target you can recover back through your saved usdt but as for totally escaping loss i.am not sure it's possible in Crypto.

TheICE007

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Well losses cannot be over ruled as an altcoin trader, in as much as you want to be conservative and you follow the price action,there are times when a fundamental analysis news could disrupt the game plan or the movement of BTC,that being said,most times people convert their profit to usdt but some prefer to hold BTC because no matter how it falls,it will still bounce back up and it has the tendency to grow in dollar value

pragna

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Quote from: Ifemini on March 30, 2020, 07:23:14 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.

Very true that if anybody gain profit from any business or any project he can convert it into USDT so that price may be stable as the entry level. Actually cleaver men must did it and that's why when market make dump they are keep free from tension. Finally investment is a strategic game and men who made it successfully he can win.

ElmedoRator

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You need to always set stop loss when trading altcoin. Do not rely on it and hope for it because if altcoin collapses, its price will surely fall deeply and it is difficult to recover in a short time. I always set a stop loss 5-10% depending on the altcoins I buy

Lhaine

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Quote from: Meowth05 on April 04, 2020, 11:21:54 PM

My suggestion is to think of trading altcoins as the same as forex, you will not get dividends if you hold for too long and sometimes trust your gut when you want to exchange.

If they want to lessen the lost if they trade into altcoin they should set cutloss everytime they make an order . Many trader's lost big amount because they dont know how to use it, which is actually the most important thing you need to know before starting to trade.

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Quote from: BeginToMine on April 04, 2020, 05:17:03 PM

Many lost even their profits and capital out of greed, u do the people if which I was a victim to always sell thier profits and close the trading then use initial capital for another trading but hopefully a new coin not already traded. Most second entries of same coins do end up dumping on you. Let's learn to take profits

The players that enter in the late game will always be a looser. We must be careful with anything especially when the market is really volatile caused by there was a lot of possibilities for us to take the wrong position and we will be dumped by those dumpers. I never try to enter the market when it was getting the bullish trend. That's a bad time to trade.

ballerin and giroud

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Why do you criticize other people's strategies? I think there is no rule that oblige other people to just trade in altcoin and bitcoin only. If they thing to move their profit to bitcoin then you have to allow them and if you think that this wasy is profitable you can follow the strategy. Remember you came to invest or to trade on cryptocurrency only for gaining profit, not only for to spread the good think about the altcoin and they should love the altcoin that you love. Find some way for you to gain more profit as you can.

Topic: How to escape loss as an altcoin trader - page 7. (Read 1187 times)