Should I cash out and take the loss? - page 7.

granchio

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Quote from: Cryptocucumber on June 09, 2018, 12:58:45 PM

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

You are very right about that not to trust the speculations of the people, but unfortunately, your coin choices are very bad. In my opinion, before selling, you should be more patient and wait for the next bull run.

ssuchy

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Quote from: rudito on July 27, 2018, 11:54:32 AM

Being patient, selling at a low price is the wrong decision, holding the better because the market can surely increase. Crypto is not destroyed, but crypto can still grow in the future.

The fact is that there is a very big difference between different coins. Of course, the crypto currency will exist in the future unequivocally, But not all coins live. Proceeding from this, it is necessary to correctly select coins for their investments.

rancidgash

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Quote from: Taner on June 20, 2018, 05:24:46 AM

There will always be people who sell at the bottom and buy at the top. I don't know why, but it has always been and will be. Now you have to sell only if you have no money for food.

the last part of your sentence is so true, for me if somebody invest in crypto he take the risk of whole moments which in future their coins will be just in a down, they need to be patient and look for the future with hope that their projects will get their ath.

tylerderden

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Quote from: Cryptocucumber on June 09, 2018, 12:58:45 PM

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

You shouldn't sell your coins for a loss never and this is the major rule in investing that never sell your investment at a loss, no matter the time interval it will surely come to profit you in the future. And I am also following this by investing in those coins which came at a low price at the point of dump and when the Altcoin prices will start rising then I will sell those investments.

bit-freedom

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I would hold on to the coins until market recover if I were you. Selling when the coins are down by 70% isn’t a good idea. At this time, you might want to take the time to do a review on your portfolio on whether you want to hold or sell.

South Park

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Quote from: Cryptocucumber on June 09, 2018, 12:58:45 PM

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

This is completely your fault OP, you say that you researched a lot about this market and then you say to us that you blindly followed the advice of some people in the forum and you lost money as a result of that, that is not a research you just wanted to make money fast in this market and now you are paying the consequences, in my opinion you should cash out and only come back if you have a plan.

rudito

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Being patient, selling at a low price is the wrong decision, holding the better because the market can surely increase. Crypto is not destroyed, but crypto can still grow in the future.

CowboyX

jr. member

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it is necessary to always study those things in which has invested, approach to the investment with cold head.

bitcoinzen

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nt recommended doing cash out in loss crypto markets will have a bear market and slow-moving markets in a year every 3 months so we should be patient those times untill bull market start

RoooooR

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I guess not since the market is now getting on good condition again, how long are you hodling? if it's too long now then go endure till the year end in order for you to see and regret nothing. But if the case is you are needing the money badly, well i guess you should really cash it out if it's an emergency.

darkr

full member

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Now, patience is needed for everybody. This is not the best time to cashout: you will lose really too much. Just try to wait for at least several months more.

Emitdama

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Quote from: Lerosaeyan6 on June 19, 2018, 08:53:52 AM

you should not be so what you are going to do because now the price of altcoin and the market has not yet come back and it is impossible, it will all return you do not need to cash in and by waiting you can get profit instead of a loss

I do not think you should. Do you remember the time you entered in to the market? The basic aim is always the profit maximization and you are forgetting that. Just hold on and you will earn some good money because you do not loose when the prices fall. You only loose when you sell low. So do not sell low and wait until we enter again into the boom. It is only your wise decisions that meters.

Elsonbol

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Quote from: Cryptocucumber on June 09, 2018, 12:58:45 PM

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

don't panic, you will manage to cash always, it is the market! there will always be a growth and recession, you will cash everything now and growth as the market for a long time on correction, selling the coins you give the chance to whales to buy even cheaper will, wait not many.

robelneo

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Quote from: Cryptocucumber on June 09, 2018, 12:58:45 PM

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

This is very depressing on your part losing just like that, I always advise my friends to do not trust what you read and what people are telling you, instead do your research set up your guides and criteria in choosing the right coin to invest, they just want to pump the coin they are holding.

Alex077

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Quote from: Cryptocucumber on June 09, 2018, 12:58:45 PM

At the beginning of the year I got into cryptocurrency think I would make a lot of money if I did a ton of research and learned everything about crypto. So I bought $4k worth of bpt and prl. I would say my stack is worth about $1000 now with a 75% loss. Everybody on this forum talked so highly of those coins thinking it would sky rocket one day but they are just getting so low that I know I will never get my money back & I don't want to lose it all. I guess I'm here to say don't trust anybody on this forum that thinks they know what a good coin is and most differently DONT trust any future "10x coin" on here. Truth is this is mostly a game of luck. I'm out, cashing out so I don't lose everything!

I think it's better not to do this, and if you chose a perspective coin, it will follow the general trends of the market - it will also begin to increase in the medium term. If you would sell now, when the market is downtrend, you will simply have a loss with no hope of recovery.

Mohondoa

newbie

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Don't cash out and take loos at your coins, especially PRL, because that coin still has a good future. If for BPT I don't really know about that coin. And remember for investment at the crypto-world especially altcoin you must always be patient, strong and brave. Because I think all that things about crypto there isn't certainty for those who aren't patient. What is clear i am sure until now, the crypto-world will definitely be the main things in all transactions.

Taner

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There will always be people who sell at the bottom and buy at the top. I don't know why, but it has always been and will be. Now you have to sell only if you have no money for food.

knightmairesaint

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Quote from: Elcapsono on June 20, 2018, 12:19:47 AM

Perhaps it is worth revising the strategy and starting to participate in day trading, so that you can buy a few promising coins for the profit. I think it will be much easier than selling everything and staying with nothing.

Yeah day trading is an alternative to cut losses and still earn while waiting. Selling all of the coins that you have is not the only option, you could get a portion of that then use it for day trading. To be honest, we should continue waiting and hodling but there is nothing wrong with doing something while waiting.

The dump in bitcoin price also affected the altcoins therefore making all coins considerable for selling but what if the price rise again? @Elcapsono is right, it is easier if you will still have something in the end and it would also be wiser not selling all of it.

BTCLovingDude

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BTC to the moon is inevitable...

just for future references remember than whenever you make an investment in anything you need to set something called stop loss you can read more about it online: https://www.investopedia.com/terms/s/stop-lossorder.asp

but basically it means that you set a number (even manually or in your head) that when you reach that much loss you give up and sell. for example when you invest $1000 you set your stop loss on 5% and when you lose $50 you sell to prevent bigger losses. this is some sort of insurance that you don't lose all your money or end up losing $700 and only be left with $300 ignoring all the fees!

mikejack

jr. member

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I feel you mate,that's what im feeling last few months ago.and its stressed up so much,
Im so greedy that time so i sell it and cash out through cash,after a month that coin pumped and that's killing me.
Note: if you really need money or your in need rigth now,dont think twice,just do sell and cash out,(for emergency porposes)
If not,just hold it,dont cash out.everything is going to be fine and back to normal,just get a cup of tea and relax.

Topic: Should I cash out and take the loss? - page 7. (Read 2512 times)