Okay, so here is my situation: like 3 days ago, i bought 0.058 btc (almost everything that i have) worth of QSP
And that was your main mistake. Never buy any random coins for all your money even if you sure that it will grow in price. Imho with a 2.3 BTC daily Quantstamp volume it is naive to expect a stable growth. Someone may pump coin for a while but nothing more. 
Topic: Rookie here, in need of advise (Read 286 times)
a risky advice but in my opinion the best thing that can be done: Sell now and next time you invest in a token like this make sure you have a better reason for doing so.
I said risky because you never know with these things, they can get pumped right after you sell and you miss out. but it is a good advice (in my opinion) because you never know with these things! it can also continue getting dumped.
besides if you sell you have your money at hand ready to be invested in something with potential or something that is rising at the moment for example. I don't want to advertise anything here but a quick look at the list of altcoins you can always find something that is rising.
for example while your money is tied up in this token which is losing money, coins like PIVX are getting pumped. it is already pumped about 50-60%
I said risky because you never know with these things, they can get pumped right after you sell and you miss out. but it is a good advice (in my opinion) because you never know with these things! it can also continue getting dumped.
besides if you sell you have your money at hand ready to be invested in something with potential or something that is rising at the moment for example. I don't want to advertise anything here but a quick look at the list of altcoins you can always find something that is rising.
for example while your money is tied up in this token which is losing money, coins like PIVX are getting pumped. it is already pumped about 50-60%
QSP is Quantstamp and I think this is just one of the many altcoins in the sea of so many for the cryptocurrency market. If I were in your case, it would have been better if you just test the water first by buying some coins before investing you got. One of the many things I realized in cryptocurrency is that only few coins will really be growing seriously. I also realize that it would be better to just in the top 10 cryptos most especially Bitcoin as you can be assured of good returns. One of the bad experiences I got into is buying some altcoins which turned out to be dead.
Just jump in if you want to do trading.
No bad or wrong stuff,
it is just high risk
Dont take shitcoin
No bad or wrong stuff,
it is just high risk
Dont take shitcoin
As above i have no idea what QSP is at the momebt
it seems a bit obacure. You need to check back in its
History to see if the price you bought at was its
highest, or has it a real chance to reaching that again?
It can be very tricky to invest in unknown coins especially
if the price is attractive and then hoping to double, treble
or more your amount.
it seems a bit obacure. You need to check back in its
History to see if the price you bought at was its
highest, or has it a real chance to reaching that again?
It can be very tricky to invest in unknown coins especially
if the price is attractive and then hoping to double, treble
or more your amount.
I don't think you have make a bad decision because investments that is going to make you good money will create you fear fist! if you can hold I think you will come back here and say how much profits you have made. Many of us here thing, immediately we invest into a coins it will start making us profits but the revise is always the case as most times the coin need to make some corrections before big move.
stop buying random coins for the hope of them going up, that is not going to end well. you should only buy if you know/speculate they are going up.
i am not familiar with this coin you bought, it seems like one of the useless ICOs to me from what i have read on their announcement page just now.
what you should have done is to sell when price dropped to 1800-1900 satoshi and not wait until you lose 25% of your investment then start thinking about selling.
it is not possible to say what you should do now, maybe this shitcoin gets pumped and you get your money back or maybe it continues declining and you lose more. as i said you should have bought only if you knew it is going up not hoped.
i am not familiar with this coin you bought, it seems like one of the useless ICOs to me from what i have read on their announcement page just now.
what you should have done is to sell when price dropped to 1800-1900 satoshi and not wait until you lose 25% of your investment then start thinking about selling.
it is not possible to say what you should do now, maybe this shitcoin gets pumped and you get your money back or maybe it continues declining and you lose more. as i said you should have bought only if you knew it is going up not hoped.
If theres a humor that good news is coming then wait for it and hodl til price recovered and make profit on it its a crypto world every minute counts, wait some more days until the news and observe the price.
Why dont your try demo on forex trading. forex and crypto trading are a little bit the same. but the price movement in crypto trading is very volatile
Okay, so here is my situation: like 3 days ago, i bought 0.058 btc (almost everything that i have) worth of QSP, because i saw somewhere that there were some news coming out in the weekend, and i thought that the price was going to go up, but instead, it went downhill (2k when i bought, right now at 1.5k), and i'm scared that i might lose more, and also, because i have all of that on qsp (right now 0.043 btc) i can't trade at all, so i'm looking for advise, should i wait? because i think there's gonna be a big announcement soon, or should i sell it before it dumps even harder, i've been trading for like 3 weeks now, i initially invested like 550$, and now i'm afraid that i'm losing a ton, help a noob please, or at least make me feel better lol
My first advice is to never listen to noise. Hyping coins/stocks is really common. Since you are new to trading most likely you do not have an exit price. Right now if I were on your shoes i will just trade it to btc then just hold it. Try to study more about technical analysis once you think you are ready then start trading again.
You should have researched first on whatever currency you want to invest in. Also in trading, you should not let your emotions run the game. Trading is a game of patience. If prices don't go up, don't give up your position. If it bounces back and say you made about 5% profit, thats the time you sell. Don't buy currency while they are at their peak as it is very risky.
To be honest, only you can make your decision on this. I personally don't know anything about QSP so I can only give you advice.
Should you wait? You said you think there's going to be a big announcement soon. Why do you think so? Did they actually announce something? or is it just purely guessing? Anyway, follow your guts. Trading with $550 knowing that that's all you've got and knowing you're new is a very bad idea. You should start playing with a small amount first ($10-$20).
Should you wait? You said you think there's going to be a big announcement soon. Why do you think so? Did they actually announce something? or is it just purely guessing? Anyway, follow your guts. Trading with $550 knowing that that's all you've got and knowing you're new is a very bad idea. You should start playing with a small amount first ($10-$20).
You must decide what is acceptable for entry and exit when placing a trade. Know what your limits are on entrance decide what loss would be time to close and what win would be acceptable. If this trade is making you nervous then maybe it is too large of a portion to risk. Trade small trade often make wins and cut losers before they are too damaging. If you look at the trade today and would make the same trade with the same feelings of intent then you wait it out with the same instinct you originally had when first entering the trade. Sometimes we make a bad trade and must learn from these opportunities. Best of luck!
Okay, so here is my situation: like 3 days ago, i bought 0.058 btc (almost everything that i have) worth of QSP, because i saw somewhere that there were some news coming out in the weekend, and i thought that the price was going to go up, but instead, it went downhill (2k when i bought, right now at 1.5k), and i'm scared that i might lose more, and also, because i have all of that on qsp (right now 0.043 btc) i can't trade at all, so i'm looking for advise, should i wait? because i think there's gonna be a big announcement soon, or should i sell it before it dumps even harder, i've been trading for like 3 weeks now, i initially invested like 550$, and now i'm afraid that i'm losing a ton, help a noob please, or at least make me feel better lol
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