Loss almost 40%, should stop trading or not ? - page 38.

ecnalubma

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Quote from: BrewMaster on May 28, 2017, 09:47:38 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?

stop what? you weren't actually trading before, you were gambling.
you should now start trading instead.
there are certain simple strategies to follow or keep in mind:

1- never buy into the pump:
when price of an altcoin has gone up too much too fast, that should be a red flag for you not to buy it anymore. but if you decided to buy, keep an open eye, keep rule #2 in mind, and sell fast with the rise to make profit and get out quick

2- stop loss is your friend:
you can do this with some automation like using the feature the exchanges offer you or use a bot. or even do it manually. it means have a negative percentage in mind that you sell no matter what. in altcoins it can be -5 to -10% drop and you dump and get out. i usually do it at -1% and my profit targets are usually 5% to 15% that means safe profit and always successful trading.

3- never fall for a hype in altcoins:
know that altcoins are mostly pump and dump and for that people will hype them up with lies. and the bigger the altcoin the bigger and more spread the lies. so just get your profit and get out fast. and only invest in bitcoin for long term.

This is true although im new in trading but im patiently observing paths and statistics. Don't treat trade as gambling always use strategy and always disregard emotions.

Labumi

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Quote from: jamyr on June 03, 2017, 09:50:38 AM

The hype got you. Well, in investments there is always the risk of loss. So it really would depend on you if you think you can't handle the pressure, then stop. But if you are a dreamer, believer you got to be a survivor too. Good luck.

All risks are definitely there, so when we don't want to get ahead or get many advantages it is better we keep silent and don't ever think something's a bad thing. Because there will never be, a thing that can give us the advantage is always obtained. Because of the nature of life in the world is definitely there will be a time when we are down and the period in which we have above. Long time it all depends on what we are now doing or working on. If indeed we have a good working level and have good prospects in the future then the result will surely be fun

CraigWrightBTC

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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?

No you must continue trading altcoins, if you stop trading altcoins you are really losing 40% of your money
but if you stay trading altcoins there are chance to getting back your money and the profit from trading
you just needs to fix the ways of trading altcoins up to getting constant profit from trading
you must be more patient when trading altcoins.

harizen

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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 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.

Victorycoin

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Quote from: 2bfree on June 03, 2017, 10:26:36 AM

Quote from: BCB on May 28, 2017, 12:41:32 PM

Buy on the dip. People who bought on the last high doubled their money last week. No end in sight.

Don't be the population be an individual! If the herd zigs you zag. When they panic you buy, when they hype you sell.

It actually becomes easier and a walkover when you are equipped with the right knowledge and skills, because knowledge dymystifies mysteries, but until then a lot of things are not all said and done. Essentially the first thing first, get some good grounding in whatever you set out to do and every other thing would starts to fall into place. Finally, be reminded that quitter never win.

2bfree

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Quote from: BCB on May 28, 2017, 12:41:32 PM

Buy on the dip. People who bought on the last high doubled their money last week. No end in sight.

Don't be the population be an individual! If the herd zigs you zag. When they panic you buy, when they hype you sell.

*Skyhigh*

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You should read a lot and learn more like many have said. But you never know what will happen, it can go in your favour or you can fall hard. I sold 4000 waves 45 days ago, just before the btc pump and waves pump after holding for almost a year. So shit happens. So i could have had 3100% profit but i have to do with 1100%. I put in an amount of money to trade with and not a cent more.

jamyr

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<------

The hype got you. Well, in investments there is always the risk of loss. So it really would depend on you if you think you can't handle the pressure, then stop. But if you are a dreamer, believer you got to be a survivor too. Good luck.

maydna

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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?

i think you need to control your self in trading because i see you are too rush to sell your coins before you see the price is back to the price before. its normal for us to make mistake but we need to learn from our mistake so in future, our skill will be increase and the important thing from this is we can control our self to not to be panic when the price is suddenly down too deep. i think you can continue for doing trading but you need to have a strong mind to control your self and waiting for the price. i think its still a worth lesson for you from this mistake and i hope you don't have to make the same mistake in future.

nightxglow

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This is why you shouldn't trade what you don't know or don't understand. Ripple has been pumping a lot from 3k satoshi until 20++ and it's never been a good idea to buy when there's pump happening. You should research an alt which you like, not jumping to the one which been pumped. You should stop and study about alt first before trying to trade again.

Bagaji

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Quote from: zidanw on June 03, 2017, 06:59:19 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?

For your case it is better to pause and look for activities that can make you more relaxed, it also happened to me, take a decision in haste and fury was not good, trading is not entirely profitable sometimes we have to accept loss.

I will advise you give it a try again, for you currently leaning a lesson of what to do and what not to do in trading crypto currency. I lost about 45% of my money yesterday as a result of inpatient and wrong technical analysis of the candle stick before buying the currency. And that doesn't mean I should stop trading crypto currency. Am currently in the market and is moving in my favor. Trading is the best in making it big in crypto currency only if you follow your strategy and not your emotion.

zidanw

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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?

For your case it is better to pause and look for activities that can make you more relaxed, it also happened to me, take a decision in haste and fury was not good, trading is not entirely profitable sometimes we have to accept loss.

Coffee2015

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Dont give up, pump it if you can or wait for it.
Get in a bit by a bit.
Some coin are going down now probably,... be patient or still buyin some/pump

Keep trading, rising value/price will come and it s good, it will make more people to come.
Makke crypto trading more than fiat money,
Make crypto trading and usage for everyone.

Be patient or pump (I dont like sort or lending,... at least mostly, most of my time).

Soranith

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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?

I think you should stop for now because you are doing the wrong thing. Basic rule of trading is buy low and sell high as simple as that, if you want to get back that 40% of money you lost you need to start reading how to trade correctly. And lastly get yourself a lot of patience since you will need it 100% of time when you trade.

Victorycoin

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Quote from: xFiber on May 30, 2017, 08:58:53 AM

Quote from: Weatherby on May 30, 2017, 05:36:27 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 have to change your attitude while trading,first lesson is not to jump into anything when the rally is at the top,wait for a correction and grab the coin and if you have showed some patience you could have earned a good profit in ETH today as i rallied to 0.09 btc,never plan on disposing everything because you did not find any movement and as for ripple is concerned not a lot of goods news is coming from them,you could have hold your positions or sell off at the maximum amount it could get.

Yea it's pretty much all about a mentality change in his/her case. Always be patient and don't jump into just another coin. Even though ripple was profitable in the past, it certainly isn't anymore so I'd highly recommend staying away from that If I were you.

What need to be changed is neither mentality nor attitude because none of them can effectively take the place of sound trading knowledge and experience, which is what is lacking in op trading for now. Take time out to learn to trade and become better equipped to handle market volatility, that's the solution to the problem.

xuan87

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I think you need to be more patience in trading, alt coin trade need a lot of patience and good analysis skill, because alt coin is not too popular so the transaction flow is not too big so sometimes it can drop really fast

I will suggest you to continue to trade make this as a lesson and then trade again, trading is a very profitable if you already know how to trade, and now is a great time to trade because there are a lot of pump and dump

Yuuto

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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?

Retrospectively speaking you should have held onto at least your ethereum as the price absolutely blasted off to the moon over the past few days. Would have been a shame if you sold that too early. But shit happens, nothing you can do about it. It's best not to be too greedy and try to make back the loss if you did sell it early.

What i usually do is reserve 40%of my trading capital in case it a coin crashes. Then until it stops crashing I'll gradually buy in more and more bringing the average purchase price down.

Sled

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All kind of traders get a loss so there is nothing new about that loss that you got. As i trader i lose around 90% of my previous capital because of the wrong investment that i tried on an altcoin because i didn't read and do research about it so i end up investing in shit coin but now i learned the lesson and i didn't experience too much loss after that scenario. See? Make your losses as a lesson and you will become better.

litaf

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You should stop trading. It seems like you do not meet the skill requirement to make money in this market. Dont give up though, you should first practice your skills with demo accounts and then move up from there. Trading is a skill that requires patience and time to develop. Good luck.

erikalui

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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?

There is no need to panic due to the price drop. I too did the same earlier where I sold my BTC and altcoins for a price lesser than what I had bought them for and in the end, I suffered a huge loss of about $40. Bitcoins have a large market and hence if the price even dips by 40-50%, it can still recover. There have been people who had bought bitcoins at about $1300 in 2014 and they waited for almost 2.5 years to recover their money which was worth for them. Trading in bitcoins is not like trading in forex where we have to suffer a loss. We have an option to WAIT.

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