Many got REKT :( | Bitcointalksearch.org

Natalim

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BTC to the MOON in 2019

Quote from: newdevices on June 04, 2021, 11:32:19 AM

Quote from: Natalim on June 04, 2021, 11:00:24 AM

Quote from: manggis97 on June 04, 2021, 12:59:22 AM

I did not feel got REKT, this is normal situation in crypto. After the price of Bitcoin rally and ATH, the price will dump and effected to all altcoin. This is many times happen since crypto market was born. For now, I did another job and while patient waiting for rebound, let see in a few month.

I'm glad you understand, others would panic because they made the wrong decision buying at the peak. Our patience will be tested, make sure that we really believe it will bounce back and we are built to "HODL", it might take years to see a new bull run again like in the past, but if we still hold, we will certainly enjoy when the time comes.

one way to avoid REKT indeed is not to panic, and always be calm when trading, experiencing losses is a common thing,
but experiencing REKT is something scary, so don't get hit by REKT because if it happens to you continuously then I can say you are not fit to be a trader

When you say don't panic, it's usually applied to people who hold for the long term, short term traders react to the current situation, and they are doing some sort of gambling thing as they need to make a decent in a timely manner. For long-term holders, the word "HOD" is still very important to them, if they will panic, they will lose, if they hold and be patient they will win, provided they are not holding a bad coin.

boyptc

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Quote from: Kong Hey Pakboy on June 03, 2021, 02:29:26 AM

Can't exit since I didn't have enough bitcoin to sell to gain a really decent profit. In technical terms, I did got rekt but I don't think that I have to worry about that since I am on the long-term side of investment, I don't mind this stint in prices, I know that I deserve more than this.

That's right.

You don't have to worry if you see that your current portfolio has dropped a lot. It's not the end of it and if you're sure that you're doing it for long term then there's no reason for you to worry.

Most of the long term holders like me, don't really think of the recent drops but if you can buy during those times, that's better.

dunfida

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Quote from: ?? on ??

I don't have a plan to sell it, I will still keep holding it until it reaches my target value which is $100k, I know bitcoin can reach that value within this year and become better for the year 2024 or the next halving, so most probably I will still keep holding my bitcoin until 2024, hoping that I can hold it until that year. As long as I can I will hold it no FUD can make me sell bitcoin.

If you have enough money to finance your needs then better to keep your holdings inside your safe wallet, there's no sens
in selling it right now as the value already down.

Wait for the bull to comeback and hit your target, right now it's another test whether Bitcoin will prosper or another halving
is needed to bring the bull back in hand.

There's no indeed sense if you do sell out on loss and its right that if you do have money to spend for your daily living then its just a sensible act for you
to save up those coins and dont sell on loss because market would eventually recover no matter what and instead of minding your loss then its much better if you do consider out on buying back while its still cheap even though its really hard to do so but you wont really be gaining something if you cant just risk out.If you dont make yourself been wise and dont have self control then you wont really sustain into this market.

isaac_clarke22

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Quote from: Kong Hey Pakboy on June 03, 2021, 02:29:26 AM

~

You kind of made me remember of my past experience in day trading.
Got really rekt hard as a newbie, and learned the hard way from it.
It was a lesson for me to just go into long-term ones. Cheesy

sana54210

legendary

Activity: 3178

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Quote from: Natalim on June 04, 2021, 11:00:24 AM

Quote from: manggis97 on June 04, 2021, 12:59:22 AM

I did not feel got REKT, this is normal situation in crypto. After the price of Bitcoin rally and ATH, the price will dump and effected to all altcoin. This is many times happen since crypto market was born. For now, I did another job and while patient waiting for rebound, let see in a few month.

I'm glad you understand, others would panic because they made the wrong decision buying at the peak. Our patience will be tested, make sure that we really believe it will bounce back and we are built to "HODL", it might take years to see a new bull run again like in the past, but if we still hold, we will certainly enjoy when the time comes.

There are tons of people like us, that is why we haven't moved to full on bear mode because we believe that we are not going to have something like that for sure. I mean think about it there is a good amount of reasoning behind holding and not being worried, one of the biggest reasons is that we have seen crypto go down before and we have seen it go back up as well, that is something that happened many times over.

This is why we are not that much scared, we believe in what could happen with crypto and we know that it can go down but it will always recover and go back up, so if we know that it will go back up then why should be worried about it at all? There are tons of us out there who declines to sell something that is worth nearly 40 thousand dollars, it was 60k+ and we still didn't sell, you know how hard it is not to sell something when it worths that much money? We still believe it will be even more.

newdevices

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Quote from: Natalim on June 04, 2021, 11:00:24 AM

Quote from: manggis97 on June 04, 2021, 12:59:22 AM

I did not feel got REKT, this is normal situation in crypto. After the price of Bitcoin rally and ATH, the price will dump and effected to all altcoin. This is many times happen since crypto market was born. For now, I did another job and while patient waiting for rebound, let see in a few month.

I'm glad you understand, others would panic because they made the wrong decision buying at the peak. Our patience will be tested, make sure that we really believe it will bounce back and we are built to "HODL", it might take years to see a new bull run again like in the past, but if we still hold, we will certainly enjoy when the time comes.

one way to avoid REKT indeed is not to panic, and always be calm when trading, experiencing losses is a common thing,
but experiencing REKT is something scary, so don't get hit by REKT because if it happens to you continuously then I can say you are not fit to be a trader

Natalim

hero member

Activity: 2898

Merit: 590

BTC to the MOON in 2019

Quote from: manggis97 on June 04, 2021, 12:59:22 AM

I did not feel got REKT, this is normal situation in crypto. After the price of Bitcoin rally and ATH, the price will dump and effected to all altcoin. This is many times happen since crypto market was born. For now, I did another job and while patient waiting for rebound, let see in a few month.

I'm glad you understand, others would panic because they made the wrong decision buying at the peak. Our patience will be tested, make sure that we really believe it will bounce back and we are built to "HODL", it might take years to see a new bull run again like in the past, but if we still hold, we will certainly enjoy when the time comes.

manggis97

member

Activity: 476

Merit: 10

I did not feel got REKT, this is normal situation in crypto. After the price of Bitcoin rally and ATH, the price will dump and effected to all altcoin. This is many times happen since crypto market was born. For now, I did another job and while patient waiting for rebound, let see in a few month.

maisao1991

copper member

Activity: 224

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TheStandard

or learn how to recognize the market no matter what the situation is, with my personality, I always use the stl command all the time to avoid the worst case scenario, it can't avoid all cases but it also minimize the damage to you.

Kelvinid

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Quote from: rodskee on June 03, 2021, 03:18:26 AM

Quote from: andthereyou on May 19, 2021, 09:26:58 PM

Who did an exit strategy before the worst dip?

I did but Half only of my totality in investment .

Why? because i still believe that it is just a correction, so i am wrong but at least i'm right in selling half of it.

Now that the dip comes to 30,000 level , i am lucky to say that i bought all of those half again and seeing a 20% profit now because the price close to 40k once more.

Sometimes we got unlucky and we do selling too early without giving some time for the market to recover. Not totally common as this was somewhat called a nature for all of us. And I don't believe those people saying that they will still hold no matter what will happen coz what seems to be impossible. Maybe I was wrong but base on my experience, you can make a change in your mind especially when you are seeing that your portfolio is declining.

I suppose to hold and stand for it before but I also realize it was not my priority, what we aim for is profit, and it was wrong to lose such an opportunity. Why not taking that while it is still there? We're getting to rekt of we miss this.

rodskee

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Quote from: andthereyou on May 19, 2021, 09:26:58 PM

Who did an exit strategy before the worst dip?

I did but Half only of my totality in investment .

Why? because i still believe that it is just a correction, so i am wrong but at least i'm right in selling half of it.

Now that the dip comes to 30,000 level , i am lucky to say that i bought all of those half again and seeing a 20% profit now because the price close to 40k once more.

Kong Hey Pakboy

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Can't exit since I didn't have enough bitcoin to sell to gain a really decent profit. In technical terms, I did got rekt but I don't think that I have to worry about that since I am on the long-term side of investment, I don't mind this stint in prices, I know that I deserve more than this.

slaman29

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Quote from: kawetsriyanto on June 02, 2021, 07:58:15 PM

Quote from: slaman29 on June 02, 2021, 03:26:14 AM

I never understand people who trade and don't use stop losses or take profit.

If they don't use "stop loses", it is still understandable. But if they never take profits, it is something strange. Do they really exist? Cheesy

As far as I know, people trader for profits. This means they should take profits once the target is achieved. Traders must set their targets to sell at certain rates after they bought some coins. They won't keep the coins for a long time, they aren't investors. If you are trading, you probably trade your coins daily, or weekly, or monthly. I never heard of a yearly trader. Cheesy

CMIIW

I still don't get it. Limit Orders are there as a tool to use, and every good trader knows 2 things. The price he wants to get in and the price he wants to get out.

And on the second item, this means both ways: the profit he would like to take, and the maximum loss he would like to bear.

You are just asking to get rekt without stop loss.

Oh but I've heard of yearly trader. Those guys are called options traders and they choose 1 year contracts:)

kawetsriyanto

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Quote from: slaman29 on June 02, 2021, 03:26:14 AM

I never understand people who trade and don't use stop losses or take profit.

If they don't use "stop loses", it is still understandable. But if they never take profits, it is something strange. Do they really exist? Cheesy

As far as I know, people trader for profits. This means they should take profits once the target is achieved. Traders must set their targets to sell at certain rates after they bought some coins. They won't keep the coins for a long time, they aren't investors. If you are trading, you probably trade your coins daily, or weekly, or monthly. I never heard of a yearly trader. Cheesy

CMIIW

Mauser

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Quote from: andthereyou on May 19, 2021, 09:26:58 PM

Who did an exit strategy before the worst dip?

I didn't have any, but I don't feel like I got rekt. If you compare the current price to the ATH then sure you could say that I got rekt, but if you compare the current price to 1 year ago, then I would say that we are still in a good position. Personally I stopped trying to buy or sell at the exact lowest or highest point. In my opinion, it is just too difficult and involves a lot of luck. Better to have an long term approach to investing and wait for the prices to rise again, crypto currencies tend to move in cycles so it is just matter of time to get back up.

feelideb

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fLibero.financial

I have made up my mind not to trade future btc, I am comftably sitting on 100% profit having been able to convert my btc trading account to usdt since first ATH! I am looking for good entry on btc and I wait till I got the number I want. The purpose of my btc trading is to increase it not profit per se!

slaman29

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Quote from: awik p on June 02, 2021, 01:35:15 AM

And most importantly, don't be greedy. when the market goes up, sometimes we feel very confident that the rally will always continue, so we are complacent to take profits and finally the market goes down, then we regret it, especially if we buy when the price is at its peak, then we hold on to it and result in waiting for a few more years

I never understand people who trade and don't use stop losses or take profit. It's so easy to do and should form a basic foundation of any trading activity, yet people keep saying they get rekt. Isn't it like Lesson 1 in the traders handbook or something? I mean, what's the point of not setting your exit if you want to make trading your living?

awik p

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Pepemo.vip

Quote from: shushu9977 on June 02, 2021, 01:12:15 AM

It is very hard to realize that when the market is going up and up, when the market is going down and down. If we search previous few years then we understand many times the market is increasing and many times, it is dumping. so it is happened when the market was starting. so, research more information and earn more knowledge about the market.

And most importantly, don't be greedy. when the market goes up, sometimes we feel very confident that the rally will always continue, so we are complacent to take profits and finally the market goes down, then we regret it, especially if we buy when the price is at its peak, then we hold on to it and result in waiting for a few more years

shushu9977

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It is very hard to realize that when the market is going up and up, when the market is going down and down. If we search previous few years then we understand many times the market is increasing and many times, it is dumping. so it is happened when the market was starting. so, research more information and earn more knowledge about the market.

carlfebz2

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Quote from: ReiMomo on May 31, 2021, 05:37:33 PM

Quote from: imstillthebest on May 31, 2021, 04:46:10 PM

Quote from: andthereyou on May 19, 2021, 09:26:58 PM

Who did an exit strategy before the worst dip?

we do all created a exit strategy but not all imitated it properly because we don't expect the dip will come quick .
It's too late to exit once your caught out because you can surely lose if you plan to but we can save our self if we persist to hold till the market recovers and just a clarification ,
this is not the worst dip but worst dip but there are more worst dip back in the early days of crypto .

As long as you didn't execute sell there's no REKT or losses in your portfolio. Holding is the best when you saw that the market getting worst because it is still a number of coins but the difference is to have the lowest value compared to dollars.

Panic selling is the most common factor of sudden loss, because of fear, you will blindly accept that you have a REKT, the price will not go beyond zero and that is impossible. The nature of cryptocurrencies is the volatility price and it will obviously fluctuate with or without reason.

Unless if you do go with leverage or futures then say goodbye into your investment but i do agree into this line that as long you havent cast out that sell button then there would always be a break even chance
and this is how should people do look upon and not make out those direct sell decisions.

Lots had burned out their portfolio but if you do know on how to handle up your finances and also your emotion then it would really be just fine. Always take a lesson anytime you suffer losses
and always make some back testing or analyze on what happened.

Risk management is important in all matters and you should focused on that.

Topic: Many got REKT :( (Read 762 times)