One of the skill for a trader is taking advantage of new
opportunities when they arise, like saving money so there will be
enough cash to trade when dip happens. I would like to make two
suggestions:
1. Make sure you have money during the blood bath.
2. If you take profits, offset a portion of the gain by also
selling loss position[1]
[1] https://www.investopedia.com/articles/02/022002.asp
Topic: Learnings from crash - page 12. (Read 1132 times)
My lesson would be - Take a little profits as the market grows and the price increases.
We never know when a crash can occur and so it is better to take a small % of the profit out as the price might go down later and you will need it to buy the dips. I had been just HOLDING all this while and I regret it as I cant make any profits in this dip. The second is the common one which is that we should never panic sell. It makes a loss for us and for the others as well. Crypto is volatile market and so panic decisions often are the bad ones.
We never know when a crash can occur and so it is better to take a small % of the profit out as the price might go down later and you will need it to buy the dips. I had been just HOLDING all this while and I regret it as I cant make any profits in this dip. The second is the common one which is that we should never panic sell. It makes a loss for us and for the others as well. Crypto is volatile market and so panic decisions often are the bad ones.
Be calm and don't panic, things might get worse if you are going to panic, when bad things happen always look at the brighter side because things do happen for a reason. Have a number of alternative plans so that if some things fail,you could have a way out. Be knowledgeable enough so that you can make the best decisions for yourself. In this kind of business giving up must not be an option. Because those who quit loses their chance to earn. Every investment has a risk its just up to you on how to handle these risk in a positive or negative way.
What do you feel you have learned from the crash (if anything)? I think the market has gained a little bit more stability now, and therefore it is nice to look back on your own thoughts and the decisions you made when experiencing such a crash.
Personally, I learned that I need to continuously, as markets grow, 'take off some risk' and allocate some profits from alt into ethereum and bitcoin.
In the same regards, I will also begin to allocate small percentages into $ so that I can gain more on crashes like this one.
Lastly, I once again got confirmed, that in crypto we see huge volatility and that is just something we have to live with - for now at least. Never panic sell in corrections!!!
Personally, I learned that I need to continuously, as markets grow, 'take off some risk' and allocate some profits from alt into ethereum and bitcoin.
In the same regards, I will also begin to allocate small percentages into $ so that I can gain more on crashes like this one.
Lastly, I once again got confirmed, that in crypto we see huge volatility and that is just something we have to live with - for now at least. Never panic sell in corrections!!!
volatility is almost an intrinsic property of cryptocurrencies!
if you analyze the charts in recent years there have been so many sudden dumps and pumps, so you do not have to exalt yourself too much in positive periods and you should not get depressed in negative periods because this is "normal".
I haven't learned anything new. Just the good old strategy - HODL
Also, I've realised how far I was from my original strategy - collecting more BTC by trading alts. I was way too excited about "the hottest and cheapest altcoins". I should have fixed half of my profits in BTC and half in fiat. And leave the original deposit in alts.
But still, I remember the main rule - DON'T SELL IN [20%+] LOSS. Unless you're dying and want to spend all of your money. Or unless you planned stop-loss limits beforehand and that is a part of your strategy
Also, I've realised how far I was from my original strategy - collecting more BTC by trading alts. I was way too excited about "the hottest and cheapest altcoins". I should have fixed half of my profits in BTC and half in fiat. And leave the original deposit in alts.
But still, I remember the main rule - DON'T SELL IN [20%+] LOSS. Unless you're dying and want to spend all of your money. Or unless you planned stop-loss limits beforehand and that is a part of your strategy
From crash it is clear that it is common and surely price will increase again. Has heard about the same in the past, now experiencing the same. Hope this will give the strength to tackle any sort of price fluctuation that happens with cryptocurrencies.
For me the market is still not too stable, there is still chances that it going to have correction, from this crash I learned that I need to prepare the exit strategy, need to set the bottom price to sell the alt coin and need to spend more time to pay attention to alt, most of my alt are stuck and I will need extra patience to make profit this time since the price of alt is falling too deep
Main thing I learned this past correction was to re-allocate my portfolio so it was balanced. I will miss out on some runs that go higher but the risk will be in line with what I can handle and not outside my comfort zone.
For me, lesson learnt is to buy the dip on my choice coins that soared out of my reach. It was so nice having to buy into some of these coins.
As for the crash I learnt that in cryptocurrency whenever a coin with a good use case goes down it will bounce back. Another thing is that we should never wait forever to take profit on our holdings. In addition to all that, I discovered that bitcoin is the pacesetter here. Whenever it (btc) goes down, the altcoins also go down. These were the great lesson for me during the dip.
Don't go allin when thI crash happening, you would never buy at the dips with that way. Keep holding your coin. But you have to take the golden opportunity that only happened for once or twice a year. Do buying step by step until you can feel it's time to bounce back, then just see how much money you've got with that way. As for the crash I learnt that in cryptocurrency whenever a coin with a good use case goes down it will bounce back. Another thing is that we should never wait forever to take profit on our holdings. In addition to all that, I discovered that bitcoin is the pacesetter here. Whenever it (btc) goes down, the altcoins also go down. These were the great lesson for me during the dip.
It is in the losses that we learn the most, we make mistakes at the beginning, it is what forges us as a trader
Personally, I learned that I need to continuously, as markets grow, 'take off some risk' and allocate some profits from alt into ethereum and bitcoin.
And try to understand those "risks" you'll expected to deal with it.
Some people especially the newbie ones , obviously worried about their portfolios eventhough the loss is just, let' say around 10% to 20%. In here, they really understand that sometimes they need to sacrifice some profits by means of facing the risks when they are dealing with the price decrease scenario.
It's always really a part of trading ecosystem that the price will drastically decrease and lose it's momentum on the higher. People just have to find a good way to deal on that kind of price behaviour as we have different views and preferences on our future decision.
What do you feel you have learned from the crash (if anything)?
I have learned that too much people are that much obsessed with earning money, that when something goes wrong they just stop thinking, their brains turn off that function and people do things they prior to that warned against. For myself, I learned to hold, it was probably the first time when there was a crash and I didn't sell a thing.
I agree with most of you regarding lessons learned from this weeks Bitcoin Crash.
To sum it up:
1.Have a fund with fiat ready to use for these extremely nice sale periods.
2. If you was not able to sell prior to the dip, just hold on tight. I am very glad I never panic sold anything. I would have felt terrible selling at ATL.
3.It is OK to move between alt coins at the "bottom" if you can time it and feel you placed your bet on the wrong horse.
4.Never keep everything in alt coins - always have some btc or eth depending on where you trade.
5. Bitcoin is the mother - you should always strive to get more bitcoin(satoshi).
6. Dont trust the media
7. Bitcoin always corrects - it will never go to zero.
To sum it up:
1.Have a fund with fiat ready to use for these extremely nice sale periods.
2. If you was not able to sell prior to the dip, just hold on tight. I am very glad I never panic sold anything. I would have felt terrible selling at ATL.
3.It is OK to move between alt coins at the "bottom" if you can time it and feel you placed your bet on the wrong horse.
4.Never keep everything in alt coins - always have some btc or eth depending on where you trade.
5. Bitcoin is the mother - you should always strive to get more bitcoin(satoshi).
6. Dont trust the media
7. Bitcoin always corrects - it will never go to zero.
Well, for me the mail lesson was that no matter how low the price is right now, it always can get lower. Most people expected the 10-12k as a bottom after the 20k and thought that it will get back after this level but the power of FUD showed us that BTC can be dumped much lower. If some weeks ago I was not that cinfident about the further price now I am sure that it may easily get lower simply because the recent FUD was more like a bunch of rumors and none of real actions was not yet performed.
For me, lesson learnt is to buy the dip on my choice coins that soared out of my reach. It was so nice having to buy into some of these coins.
As for the crash I learnt that in cryptocurrency whenever a coin with a good use case goes down it will bounce back. Another thing is that we should never wait forever to take profit on our holdings. In addition to all that, I discovered that bitcoin is the pacesetter here. Whenever it (btc) goes down, the altcoins also go down. These were the great lesson for me during the dip.
As for the crash I learnt that in cryptocurrency whenever a coin with a good use case goes down it will bounce back. Another thing is that we should never wait forever to take profit on our holdings. In addition to all that, I discovered that bitcoin is the pacesetter here. Whenever it (btc) goes down, the altcoins also go down. These were the great lesson for me during the dip.
I will also begin to allocate small percentages into $ so that I can gain more on crashes like this one.
I think this was my biggest take away after analyzing things in the last few days. It's very easy to always have all of money that you have allocated to crypto invested at all times. But in doing this you handicap yourself and can't benefit from any dips.
Lastly, I once again got confirmed, that in crypto we see huge volatility and that is just something we have to live with - for now at least. Never panic sell in corrections!!!
I already knew this before but as you said it just reaffirms what we already know. You should never allow yourself to act out of fear in any situations.
What do you feel you have learned from the crash (if anything)? I think the market has gained a little bit more stability now, and therefore it is nice to look back on your own thoughts and the decisions you made when experiencing such a crash.
Personally, I learned that I need to continuously, as markets grow, 'take off some risk' and allocate some profits from alt into ethereum and bitcoin.
In the same regards, I will also begin to allocate small percentages into $ so that I can gain more on crashes like this one.
Lastly, I once again got confirmed, that in crypto we see huge volatility and that is just something we have to live with - for now at least. Never panic sell in corrections!!!
Personally, I learned that I need to continuously, as markets grow, 'take off some risk' and allocate some profits from alt into ethereum and bitcoin.
In the same regards, I will also begin to allocate small percentages into $ so that I can gain more on crashes like this one.
Lastly, I once again got confirmed, that in crypto we see huge volatility and that is just something we have to live with - for now at least. Never panic sell in corrections!!!
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