Topic: Never sell for a loss - is a Myth !! - page 2. (Read 1090 times)
Selling for loss is either cause by doubt. It's better to cut the trade knowing fully well that you might bounced back and cover up the loss in another trade or position. Never sell for a loss are solely for those Newbies in the space or rather those impatience set of people in trading. Trades sometimes go against our predictions and expectations and these lead to liquidation of our portfolio or some might be lucky because they set stop loss and take profits.
Never sell for a loss only applies for people who are not good in trading and prefer to invest in crypto for long term. If your portfolio is down more than 50%, then there is no reason for you to sell to recover some money as you will just buy it again once the market goes up again.
But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
Long term investment does not mean investing for lifetime. As an investor, I think it is important to know the market. Because if you look, you will find that many investors were in huge profits during the bull market.
But due to their hope of making more profit, now they have lost that profit. Many investors may have lost their capital along with losing profits. So the investor will benefit from specifying an approximate selling point before investing.
Never sell for a loss only applies for people who are not good in trading and prefer to invest in crypto for long term. If your portfolio is down more than 50%, then there is no reason for you to sell to recover some money as you will just buy it again once the market goes up again.
But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
Buyback or switch to another coin assuming a price lower than the cutloss. I often apply it to stop losses and turn things around. This also requires a reserve of money to be able to hold a new price position, without having a reserve it will be more difficult.
Continue to do scalping with several orders until the position can be more secure. chart reading is very necessary to read the next market price.
Cutting losses isn't always bad, it's useful for those who understand how.
Never sell for a loss only applies for people who are not good in trading and prefer to invest in crypto for long term. If your portfolio is down more than 50%, then there is no reason for you to sell to recover some money as you will just buy it again once the market goes up again.
But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
But if you're a trader, selling for a loss to buy more amount in lower prices is possible because you're able to read the chart and can analyze where it is a good price to buy during the dip.
Certainly a myth and wouldn't follow such a bold statement, may be applicable for Bitcoin or Ethereum, but definitely not for altcoins. I sold Fantom at a loss a few months ago and if I hadn't, I would have lost more than 70% of my investment. The same thing goes for UST/Terra, I sold at $0.90 only for it to proceed and crash a few hours later.
You must be luck enough in that case because you sold UST right before the eternal collapse.
Even I had invested in Fantom but not really much. I haven't sold any of my coins as of now.
I don't really have an option now since it looks like we are at a bottom. Selling now would be a big mistake.
I have some tokens including Fantom stuck at my wallet because I also don't want to sell it at loss maybe I can afford to hold them for more longer years or even sleep it until next bull run came because its useless to sell at this point knowing the value of almost all of coins at tokens are so cheap. I can also say that taking decision to sell is just a mistake since its just a paper loss.
That's the main reason I sold at a loss, because I couldn't stand waiting for a recovery, unless it's Bitcoin.
I have some tokens including Fantom stuck at my wallet because I also don't want to sell it at loss maybe I can afford to hold them for more longer years or even sleep it until next bull run came because its useless to sell at this point knowing the value of almost all of coins at tokens are so cheap. I can also say that taking decision to sell is just a mistake since its just a paper loss.
We've been used to holding with those tokens that we think that are okay with their current status as we hold them.It's no use if we sell them at losses and that's what we know and we're okay to hold them whether they'll be more worth it someday or no longer have a value.
We just don't want to sell them knowing that it's almost nothing that we'll gain from doing it.
Certainly a myth and wouldn't follow such a bold statement, may be applicable for Bitcoin or Ethereum, but definitely not for altcoins. I sold Fantom at a loss a few months ago and if I hadn't, I would have lost more than 70% of my investment. The same thing goes for UST/Terra, I sold at $0.90 only for it to proceed and crash a few hours later.
You must be luck enough in that case because you sold UST right before the eternal collapse.
Even I had invested in Fantom but not really much. I haven't sold any of my coins as of now.
I don't really have an option now since it looks like we are at a bottom. Selling now would be a big mistake.
I have some tokens including Fantom stuck at my wallet because I also don't want to sell it at loss maybe I can afford to hold them for more longer years or even sleep it until next bull run came because its useless to sell at this point knowing the value of almost all of coins at tokens are so cheap. I can also say that taking decision to sell is just a mistake since its just a paper loss.
Certainly a myth and wouldn't follow such a bold statement, may be applicable for Bitcoin or Ethereum, but definitely not for altcoins. I sold Fantom at a loss a few months ago and if I hadn't, I would have lost more than 70% of my investment. The same thing goes for UST/Terra, I sold at $0.90 only for it to proceed and crash a few hours later.
You must be luck enough in that case because you sold UST right before the eternal collapse.
Even I had invested in Fantom but not really much. I haven't sold any of my coins as of now.
I don't really have an option now since it looks like we are at a bottom. Selling now would be a big mistake.
UST on the other hand went downhill from that point, I sold at approximately $0.85-0.90, don't remember exactly because it was quite some time ago. I did suffer a loss but I saved more than 85% of my money, which I would have lost otherwise.
I didn't lose much compared to others, but if we express it as a percentage, I lost a good 10-15% from each case. Anyway, turns out that I would have lost a lot more money if I hadn't sold at a loss.
Certainly a myth and wouldn't follow such a bold statement, may be applicable for Bitcoin or Ethereum, but definitely not for altcoins. I sold Fantom at a loss a few months ago and if I hadn't, I would have lost more than 70% of my investment. The same thing goes for UST/Terra, I sold at $0.90 only for it to proceed and crash a few hours later.
You must be luck enough in that case because you sold UST right before the eternal collapse.
Even I had invested in Fantom but not really much. I haven't sold any of my coins as of now.
I don't really have an option now since it looks like we are at a bottom. Selling now would be a big mistake.
This is why I think "Never sell for a loss" is a myth and we should always use a stop loss and play safe with a good risk to reward strategy.
I can't hold when my chart is pointing towards a lower highs and higher lows meaning that prices keeps pushing down. Holding is best in higher highs and higher low trends. from your illustration at $8k i should have positioned my stop loss. Close with the loss and wait for a better entry point at the bottom or check if it i can join the sell market to make some profit before closing my trade for the day. I rather stop the loss than lose it all below 50%
Certainly a myth and wouldn't follow such a bold statement, may be applicable for Bitcoin or Ethereum, but definitely not for altcoins. I sold Fantom at a loss a few months ago and if I hadn't, I would have lost more than 70% of my investment. The same thing goes for UST/Terra, I sold at $0.90 only for it to proceed and crash a few hours later.
This where good capital becomes too intensive. With good capital and a long term hold fluctuation in price wouldn't be too much of an issue. Applying stop loss is only adviced for small capital investors so the market doesn't crash and wipe off your capital but with good capital stop losses might not matter much especially for good projects where a correction move is certain after a deep crash
using stop loss is better for trading and also using chart is the best to know exactly when the market will be against cryptocurrency, so anyone who is using this two things in cryptocurrency trading do found it difficult to understand and experience lost for cryptocurrency trading. What is interested first for trading is to secure the capital and after that the next thing is to know exactly when the market is bad and good by monitoring the market. Both combined do give you a good base to start though, of course just like anything in life, a bit of luck would be great, doesn't mean that it would be a bad thing. And the world economy doing alright would help you as well, it means that price would go up because if the economy is great, we all are doing great and if we do great then we could investment more as well.
It's not a myth because here in crypto we have those investors and they usually go for longer terms but it is a myth for those who are actively trading because for them time is money. They shouldn't wait for the price to recover but they can just put a stop loss to get going.
Sure thing that you could limit your losses in a stop loss but that is if you don't trade again but if let say you will buy right after you sell at a loss, there's a chance that the price can go down again. At that point you are still in a loss but the loss you got earlier are already permanent whilst to those who hodl, they technically didn't lose anything yet because they haven't sold anything.
Sure thing that you could limit your losses in a stop loss but that is if you don't trade again but if let say you will buy right after you sell at a loss, there's a chance that the price can go down again. At that point you are still in a loss but the loss you got earlier are already permanent whilst to those who hodl, they technically didn't lose anything yet because they haven't sold anything.
The volatile nature of this market can always tell us that there's no way we can exactly predict the next market movement.
I get your point and that's really fact when using stop-loss, there's still a chance that the market
will not favor your next position even you think that the next trend will be a good bounce back.
Recovering is hard, but when you already understand the drill, there's also a good chance that
you will enjoy this market.
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That is not the worst-case scenario. The worst is when it goes to 0, which I don't think happens with Bitcoin, but with shitcoins and company shares, it does happen. I go long-term with Bitcoin and I don't sell, but there are situations when you have to consider it.
As long as you've invested in Bitcoin, holding will always be the best choice even when the market is crashing. Be bothered when you're holding a nonpotential coin and it's losing its value. Bitcoin will always be worth investing in the long term but in shitcoins, you have to grab the chance of selling once the price strikes high because most of the weak coins pump once and dump continuously until the project dies. That's why no matter how deep the Bitcoin price drops in a bear market situation like now, I will never sell my Bitcoin at a low price. Because I learned
from the history of Bitcoin price movements, where Bitcoin prices can always recover and provide profits for investors who can be patient holding Bitcoin
in the long term. But very different from new projects or shitcoins, I will without a doubt do a cutloss if the price drops deep enough, which if the price
has fallen too deep it will usually take a long time to recover. Even for shitcoins, there is a big chance that they will become deadcoins, which we can't
sell anymore. So the risk is much higher if we invest in new projects or shitcoins, so for new projects or shitcoins it is more suitable for trade short term.
Instead of selling out then its better to buy on the dips but of course this do involved some analysis because you cant just buy without any basis or targets even though market bottom is totally unpredictable
but its impossible that you cant able to determine on where everybody is in great fear and anxiety towards the market.Its a solid indication for you to buy more but of course not all would be having
that finances on supporting this kind of action thats why it do really vary into each investor whether they could afford to buy something or not.
Sometimes it's not easy to deal with a bear market that occurs, let alone seeing our asset estimates drop drastically when a bear market occurs.
It requires quite good emotional control, in order to save us from stress, because in my opinion the hardest thing in dealing with a bear
market is convincing ourselves that what we are doing is right, by trusting the future of crypto. Which many people are too afraid to lose
their money, in the end they took the wrong decision by selling crypto at a low price. So in the end it is very important for us not to stop learning
about the crypto world, so that we have good knowledge to determine what steps we should take when a bear market occurs. I have repeatedly said
that it will be difficult for us to achieve success in the crypto world without good knowledge.
The pressure is so high and eventhough that we know that bitcoin will recover still we cannot stay focus on that scenarios since for sure what we will think is the short term and want to recover what we encounter losses we got at that time. Maybe once the market stabilize people will think about getting ready for possible pump so we really need to have more knowledge about the upcoming events coming for bitcoin to recover.
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That is not the worst-case scenario. The worst is when it goes to 0, which I don't think happens with Bitcoin, but with shitcoins and company shares, it does happen. I go long-term with Bitcoin and I don't sell, but there are situations when you have to consider it.
As long as you've invested in Bitcoin, holding will always be the best choice even when the market is crashing. Be bothered when you're holding a nonpotential coin and it's losing its value. Bitcoin will always be worth investing in the long term but in shitcoins, you have to grab the chance of selling once the price strikes high because most of the weak coins pump once and dump continuously until the project dies. That's why no matter how deep the Bitcoin price drops in a bear market situation like now, I will never sell my Bitcoin at a low price. Because I learned
from the history of Bitcoin price movements, where Bitcoin prices can always recover and provide profits for investors who can be patient holding Bitcoin
in the long term. But very different from new projects or shitcoins, I will without a doubt do a cutloss if the price drops deep enough, which if the price
has fallen too deep it will usually take a long time to recover. Even for shitcoins, there is a big chance that they will become deadcoins, which we can't
sell anymore. So the risk is much higher if we invest in new projects or shitcoins, so for new projects or shitcoins it is more suitable for trade short term.
Instead of selling out then its better to buy on the dips but of course this do involved some analysis because you cant just buy without any basis or targets even though market bottom is totally unpredictable
but its impossible that you cant able to determine on where everybody is in great fear and anxiety towards the market.Its a solid indication for you to buy more but of course not all would be having
that finances on supporting this kind of action thats why it do really vary into each investor whether they could afford to buy something or not.
Sometimes it's not easy to deal with a bear market that occurs, let alone seeing our asset estimates drop drastically when a bear market occurs.
It requires quite good emotional control, in order to save us from stress, because in my opinion the hardest thing in dealing with a bear
market is convincing ourselves that what we are doing is right, by trusting the future of crypto. Which many people are too afraid to lose
their money, in the end they took the wrong decision by selling crypto at a low price. So in the end it is very important for us not to stop learning
about the crypto world, so that we have good knowledge to determine what steps we should take when a bear market occurs. I have repeatedly said
that it will be difficult for us to achieve success in the crypto world without good knowledge.
This where good capital becomes too intensive. With good capital and a long term hold fluctuation in price wouldn't be too much of an issue. Applying stop loss is only adviced for small capital investors so the market doesn't crash and wipe off your capital but with good capital stop losses might not matter much especially for good projects where a correction move is certain after a deep crash
using stop loss is better for trading and also using chart is the best to know exactly when the market will be against cryptocurrency, so anyone who is using this two things in cryptocurrency trading do found it difficult to understand and experience lost for cryptocurrency trading. What is interested first for trading is to secure the capital and after that the next thing is to know exactly when the market is bad and good by monitoring the market. 
I have heard many people say that never sell for a loss but what does it actually mean ?
Assuming you have bought a coin at $10 and the price goes down to $9 but you don't sell.
You could have placed a stop loss at $9 but you take "Never sell at a loss" so seriously that you decide to not put a stop loss.
The price goes down to $8 but you are too good at HODL. Suddenly the market crashes and the price goes down to $5.
You could have limited your losses at $9 but now your portfolio is down by 50%.
Now the price has to go 100% so that you breakeven with no loss no profit whereas you could have bought back at $5 and gained potential profits using a stop loss.
This is why I think "Never sell for a loss" is a myth and we should always use a stop loss and play safe with a good risk to reward strategy.
Assuming you have bought a coin at $10 and the price goes down to $9 but you don't sell.
You could have placed a stop loss at $9 but you take "Never sell at a loss" so seriously that you decide to not put a stop loss.
The price goes down to $8 but you are too good at HODL. Suddenly the market crashes and the price goes down to $5.
You could have limited your losses at $9 but now your portfolio is down by 50%.
Now the price has to go 100% so that you breakeven with no loss no profit whereas you could have bought back at $5 and gained potential profits using a stop loss.
This is why I think "Never sell for a loss" is a myth and we should always use a stop loss and play safe with a good risk to reward strategy.
In that scenario, I don't see anything wrong even if the price drops by more than half of the token you bought. What does that mean? Let's say you buy for 10$, even if the price drops by 5$ or 1$ as long as you don't sell it, I can't say that you lost or that you lost asset coins. Because you still hold the token, unless you sell it at a loss, then I can say that you really lose. But as long as you still hold and you wait for it to rise again I can say you still have a chance to recover or earn more in the end, just like that only.
I have heard many people say that never sell for a loss but what does it actually mean ?
Assuming you have bought a coin at $10 and the price goes down to $9 but you don't sell.
You could have placed a stop loss at $9 but you take "Never sell at a loss" so seriously that you decide to not put a stop loss.
The price goes down to $8 but you are too good at HODL. Suddenly the market crashes and the price goes down to $5.
You could have limited your losses at $9 but now your portfolio is down by 50%.
Now the price has to go 100% so that you breakeven with no loss no profit whereas you could have bought back at $5 and gained potential profits using a stop loss.
This is why I think "Never sell for a loss" is a myth and we should always use a stop loss and play safe with a good risk to reward strategy.
I saw in futures trading that if I bought a coin for 100$ with 10x, I was hoping for more profit.When it came to losses again from that profit, I thought a lot about what can be done to stop loss.At one time it could be seen that my original profit had vanished with $100. I have lost so much money in my life here. Just greed for more power.If I had kept with stop loss profit, I would have got some profit but I didn't do that, I will get more.So I have seen that sometimes you have to sell at a loss. Otherwise the original money may go away Assuming you have bought a coin at $10 and the price goes down to $9 but you don't sell.
You could have placed a stop loss at $9 but you take "Never sell at a loss" so seriously that you decide to not put a stop loss.
The price goes down to $8 but you are too good at HODL. Suddenly the market crashes and the price goes down to $5.
You could have limited your losses at $9 but now your portfolio is down by 50%.
Now the price has to go 100% so that you breakeven with no loss no profit whereas you could have bought back at $5 and gained potential profits using a stop loss.
This is why I think "Never sell for a loss" is a myth and we should always use a stop loss and play safe with a good risk to reward strategy.
If you're an active trader, you do need to have a stop loss. You don't see what's about to happen in split seconds. If you're in spot or margin, having a stop loss is very important.
Specially, if you're into margin trading. Having no stop loss will make you loss all that you've got there as funded.
Specially, if you're into margin trading. Having no stop loss will make you loss all that you've got there as funded.
The problem with stop losses is that when there is a big market downturn they are useless and leveraged positions are cascaded and liquidated, as we are sick and tired of seeing.
Sometimes it's better to sell with minimal losses than to wait for something incomprehensible...
That's cutting losses and in trading, if you're relying to your day to day or week to week trades. It may be painful but you have to do it to avoid further losses. Because if you don't do that, you need to have to recover more than twice or thrice the percentage with your losses made.
It's not a myth because here in crypto we have those investors and they usually go for longer terms but it is a myth for those who are actively trading because for them time is money. They shouldn't wait for the price to recover but they can just put a stop loss to get going.
Sure thing that you could limit your losses in a stop loss but that is if you don't trade again but if let say you will buy right after you sell at a loss, there's a chance that the price can go down again. At that point you are still in a loss but the loss you got earlier are already permanent whilst to those who hodl, they technically didn't lose anything yet because they haven't sold anything.
Sure thing that you could limit your losses in a stop loss but that is if you don't trade again but if let say you will buy right after you sell at a loss, there's a chance that the price can go down again. At that point you are still in a loss but the loss you got earlier are already permanent whilst to those who hodl, they technically didn't lose anything yet because they haven't sold anything.
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