Loss almost 40%, should stop trading or not ? - page 37.

Supercrypt

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Quote from: arwin100 on June 07, 2017, 01:50:31 AM

Quote from: stomachgrowls on June 07, 2017, 12:59:02 AM

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

Why do panic sell? Knowing eth that it will surely increase its price and i would say this is commonly the mistakes of most newbies which they do really panic sell when they are seeing their money is going negative.You must learn on this mistake and try to adjust on next trade and for sure you would really have an idea on what to do next.

That is one of the big mistake of those unbeliever of their bought coins and if they keep doing that surely they will lose more money on their trades, ETH is not a lousy coin although it dumps at that moment surely this coin will pump high again and feel sorry for him for dropping off his balance while ETH has thrend and predicted to rise up for more.

I do see he must be right as I do predict ethereum may face heavy dumps in coming weeks. There are many alternate bitcoin's blockchain based dapp equivalent projects are heading up their beta tests. I guess if they come into real time applications, I do not think ethereum may survive or not.

In order to cut the losses selling early must be a right choice. Sometimes panic selling also works in this way.

Mpamaegbu

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Once a man, twice a child!

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

OP, the underlined in your post shows your frame of mind already. You lack patience and trading I'd all about patience and emotional control. Perhaps you should work more on your level of patience than your trading tactics. Until then you may want to stay off trading.

arwin100

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Jack of all trades 💯

Quote from: stomachgrowls on June 07, 2017, 12:59:02 AM

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

Why do panic sell? Knowing eth that it will surely increase its price and i would say this is commonly the mistakes of most newbies which they do really panic sell when they are seeing their money is going negative.You must learn on this mistake and try to adjust on next trade and for sure you would really have an idea on what to do next.

That is one of the big mistake of those unbeliever of their bought coins and if they keep doing that surely they will lose more money on their trades, ETH is not a lousy coin although it dumps at that moment surely this coin will pump high again and feel sorry for him for dropping off his balance while ETH has thrend and predicted to rise up for more.

deadsilent

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Wrong choice of buying. You buy an altcoin that's already pumped. Then the price drops suddenly. That's a bad move. Jumping on peak is very dangerous because we don't know how far the rally will go. Is it still gonna pump more or not? Also you panic too quickly. Sometimes the candle will fall hard and then pump really high. You must have patience.

stomachgrowls

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Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

Why do panic sell? Knowing eth that it will surely increase its price and i would say this is commonly the mistakes of most newbies which they do really panic sell when they are seeing their money is going negative.You must learn on this mistake and try to adjust on next trade and for sure you would really have an idea on what to do next.

Tap Project

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Quote from: South Park on June 06, 2017, 05:51:59 PM

Quote from: BitAvrillis on June 05, 2017, 05:23:27 AM

Always keep going. You have the chance to become rich! And you always learn of your failures like me. I could have had 50k$ now, but I made mistakes that wont happen anymore to me. Now I have control of my hands.

Unless he learns from his mistakes, it is wrong to keep trading, as Einstein said Insanity: doing the same thing over and over again and expecting different results. The op needs to try to understand what went wrong before moving forward once again, if he does not then he is only going to recreate new failures in his trading career.

sounds like someone wants to profit off him lol Lips sealed

(the quote above you lol)

Tap Project

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Quote from: tntdgcr on May 28, 2017, 08:49:50 AM

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

you stop. you've already broken all the rules, as you're trading with emotion. Neither Rome nor fortunes were built in a day.

'

As said from everyone else... you unfortunately broke a very important rule... trading with emotions... just simply from your post you doubted yourself the entire way... and jumped when you say a dip... i bet if you retrace those buys/sells you would see a turn around shortly after... well I'd say you need to stop take a breath... maybe start paper trading for a bit till you can hit a strategy and stick to it.. or when your comfortable with a certain strat get a bot... but yes for now take a break...

South Park

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Quote from: BitAvrillis on June 05, 2017, 05:23:27 AM

Always keep going. You have the chance to become rich! And you always learn of your failures like me. I could have had 50k$ now, but I made mistakes that wont happen anymore to me. Now I have control of my hands.

Unless he learns from his mistakes, it is wrong to keep trading, as Einstein said Insanity: doing the same thing over and over again and expecting different results. The op needs to try to understand what went wrong before moving forward once again, if he does not then he is only going to recreate new failures in his trading career.

Bla2e

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Its like a gamble, you win some you lose some.

You'll have to study the market & predict when the price is gonna go high/low and act accordingly.

Last year, no one must have thought that BTC would climb such a high price, but it did. The ones who bought BTC last year and kept it must have profited much now. Those who bought BTC when the price was soaring at +$2700 and sold it at $2150+- (like me) lost a lot Cheesy

So its a gamble. Don't lose hope, try to act smart.

Dudeperfect

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Don't stop, transform your strategy. Since you have lost a share of your capital, consider it as the fees for learning trading. I am sure since next time you won't make such kind of mistakes. Now, you not only have to earn profits but also to defend your 60% of the remaining capital and hence you should reduce the level of your risk bearing. No one is perfect, trust me even most successful traders make mistakes while trading but they don't leave trading, in fact they learn lessons from it and that's why they are called successful traders.

onrise

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You all will be aware about the volatility btc involves is high. So price moves up/down too frequently and it could be in reverse way than our expectations. generally peopyeget panic in short time and tend to sell considering the dip in price is widening. But generally if you can hold for some months it will recover and you will get the price. You should be able to hold for long is the primary constraint here.

roadbits

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Quote from: dillpicklechips on June 05, 2017, 06:09:24 AM

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

If you will not change then better stop before losing more.

If you will change then better continue.

I could tell that you are a beginner in trading so what you ought to do is test a small amount first but I do not know if that's a small or big amount for you. Judging from your rank then that is a great amount. You should have tried it first by doing some small amount and gain experience from it before throwing a big capital on it.

Nevertheless, you can do it since great traders have gone as beginners and fall many time. You can earn a lot of experience by mistakes you have made then strive to know what you lack then fill it up. Also you should know first what is the average price of that particular coin and look up with its developments or updates circulating with some coins where you might want to invest.

In trading, the profit amount depends on our capital amount. And one more important thing you want to become a pro trader and want to make money in trading you should have patience. Yes, trading will test our patience. Some people will get good profit in short time, but sometimes our bad luck we have to wait for a long time to make a profit. So if you don't have the patience to wait for a long time then stop BTC trading. And trade some altcoins it will give good profit in short time.

dillpicklechips

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Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

If you will not change then better stop before losing more.

If you will change then better continue.

I could tell that you are a beginner in trading so what you ought to do is test a small amount first but I do not know if that's a small or big amount for you. Judging from your rank then that is a great amount. You should have tried it first by doing some small amount and gain experience from it before throwing a big capital on it.

Nevertheless, you can do it since great traders have gone as beginners and fall many time. You can earn a lot of experience by mistakes you have made then strive to know what you lack then fill it up. Also you should know first what is the average price of that particular coin and look up with its developments or updates circulating with some coins where you might want to invest.

AjithBtc

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If you give a quit on experiencing a loss, then anymore you cannot make a better earning and learning through trading. If you find the value of the concern coin that you have bought is declining in value go for a sell at the earliest and if not when the value generates a huge loss on calculation, don't go for a selling. But just try to hold and wait for the next pumping.

BitAvrillis

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Always keep going. You have the chance to become rich! And you always learn of your failures like me. I could have had 50k$ now, but I made mistakes that wont happen anymore to me. Now I have control of my hands.

batang_bitcoin

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Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

You should continue mate, why you would sell at the price that you know you'll be losing that percentage? You should train yourself on how to become more patient. Because in trading, patience is the most important thing especially when you are holding bitcoin. You need to make your heart stronger so that you won't panic sell.

South Park

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I am terrible at Fantasy Football!!!

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

I recommend that for the time being you stop trading, adjust your strategy, read some books about the subject, try to determine at what point you will like to enter in the market, but don’t do it, see if you are making profits in these imaginary trades, and most importantly do some soul searching and see if trading is really an activity for you, since you need to be cold when it comes to make deals that are favorable to you.

ged00u

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Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

You need to stop and start to learn more about trading before joining this cryptoworld. As I say, you need to know some basic things about trading so that you can reduce the possibility to lose your money. Moreover, you need to be more patient so that you can earn more profit from trading

Bee Leb07

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★777Coin.com★ Fun BTC Casino!

Patience is the key element of success. As you have broken the first rule of trading is that not having any patience. If you want to be a good trader, you must have to be patient. And remember another thing is that failure is the pillar of success. So as you have failed first time, you should not be dissappointed.

So, keep trading. Don't quit. Just follow the rules and you can also get the money back later.

socks435

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Quote from: harizen on June 04, 2017, 08:21:57 AM

Quote from: nicolas1979 on May 28, 2017, 08:47:01 AM

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

If you will stop then how will you recover the loss? The change from BTC0.082 to BTC0.077 only took less period so how come you didn't control your patience. If in such cases that you buy on a certain price then it drops afterwards, don't sell but rather hold as there is a big chance that ETH will comeback again to surpass your buying rate. Then while it dipping, acquired again another round.

Take that mistakes as part of your trading experience and used that thing to fully enhanced your trading skills. There are altcoin that is fit for long term trades and ETH is one of it so control your temper and patience. Out of your frustration, you did a wrong move. Patience is they key as trading is not a piece of candy.

There are people that actually giving up after experience loses in trading that they didn't realize that its part of trading experience..
And no professional are become pro if they not experience the same experience as yours..
So that experience can help your for your future trading.. that you can think that ow this time i never fell again with this way so you know what will you do next time..

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