I think what you have to do is have patience and continue with your holding, if you believe the coin has the potential to go up in the nearest future. Or maybe it will be best to sell your coins and cut the loss, while you wait by the side monitoring the price to see when it starts going up.
Whenever it starts going up you can invest back your money and then wait for it to rise very high and you can regain back what you have lost. I think selling to cut loss is the best move to take now.
Topic: Today $150 loss from storm coin in binance , now what i will do? please help - page 4. (Read 933 times)
May 10, 2018, 02:04:27 AM
May 09, 2018, 06:56:24 PM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
I believe the thing you should do now is to cut losses and stop trading, it can be seen that you are a clear and concrete commercial person. It is because your failure to plan a transaction has caused you to lose so much and lose so much. In a commercial plan there is always a cutloss point to be able to limit and zone the risk and you lack that. Thanks
May 09, 2018, 09:03:34 AM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Very obvious you are gambling the market and trying to do the buy low and sell high kind of thing which must have put you in that position which obviously also shows that you do not have any serious strategy at hand to know how to go about your trading. You should have at least had a stop loss in play or just know what to look out for to know whether to be patient or not. By the way, a lot of the altcoins are having a short correction, so you may just want to wait a little and probably you may end up breaking even or seeing your profit.
May 09, 2018, 03:49:00 AM
I bet your coin that has brought you some losses will still go lower in price. The price of altcoin is not straight there will always be serious up and down movement on the price of your coin. You must decide if you are going to sell or wait for better price.
May 09, 2018, 03:44:04 AM
Don't stress, just hold onto it for a while. 100 sats is nothing to stress over, it'll likely increase over time. Relax. Fear is your biggest enemy here, don't let it win.
May 09, 2018, 03:09:33 AM
But don't worry about the loss you made because it is better for you to hold the coins until the price starts increasing again. Now the Bitcoin price is going down and this is effecting on all other altcoins but be patient until the coin price start increasing again.
May 09, 2018, 03:05:22 AM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Thanks
With the amount loss involved, we can considered that it's not the end of the day for you. Even you are a beginner, a $150 loss is just a piece of cake. What you gained from that loss? EXPERIENCE which is most impartant as it will be your foundation in your trading activity in the long term.
From your statement it's clear that you didn't know well the risks of trading. Not all the time you will win and even professional traders today still experiencing a loss in their trades. Sometimes it's good that we loss on the way so that next time we will be used it and will now have a good approach on our future actions.
Now about your specific problem, it will depend on your guts as no one can tell here what will happened next. If you believed (of course you need some factors why you believed) that Storm will have a nice price in near future, then hodl. If not, then minimize the loss and dump. Don't ever be dominated by your emotions as it will destroy your strategy. Goodluck.
May 09, 2018, 03:01:07 AM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Thanks
Frankly, as a beginner trader, it will better not to watch the price movement regularly. After you make a buy order, I suggest you to make a sell order at higher price which will satisfy you. Panic will mostly occur to newbie if they keep watching the price movement and it can change the whole plan.
May 09, 2018, 02:50:21 AM
in my opinion it's still very little if just lost only $ 150, there is also a loss of more than $ 1k because he was not too patient waiting for the price back up so it can not control the patience and fear that eventually melakuakn selling assets at cheap prices and I think it is very harmful you, you should be able to better control your patience for now.
May 09, 2018, 02:20:40 AM
Did you bought those when the market is on a bull run? Based on my experience, it is not advisable to grab an altcoin when it is in upward movement if you are not a day trader or just planning to hold those for long term. In your case, try to set up a stop loss point where to sell those to minimize taking huge loss.
May 09, 2018, 02:02:24 AM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Are you referring to this coin? If you want, you can cut losses now by selling but that won't do you any good. You should continue holding it, IMO storm still have potential in it for growth(if you are referring to the coin in the link), Don't panic sell just yet. It is normal that a coin dumps once in a while, so get used to it if you are gonna continue trading.You can just sell it instantly though the moment you got decent profit out of it to relieve your fear. Thanks
Best is to just go back to the books and learn rather than getting emotional and asking us questions like this because this situation will repeat itself again and not knowing what to do in every situation that is not going as planned is pretty bad.
May 08, 2018, 07:19:44 AM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Thanks
Frankly, as a beginner trader, it will better not to watch the price movement regularly. After you make a buy order, I suggest you to make a sell order at higher price which will satisfy you. Panic will mostly occur to newbie if they keep watching the price movement and it can change the whole plan.
May 08, 2018, 06:52:10 AM
I`m not a senior tradeer, but I would suggest to not panic, and be patient. There is always a chance that price will again go up!
Ok thanks for suggetion
May 07, 2018, 01:22:45 PM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Thanks
Frankly, as a beginner trader, it will better not to watch the price movement regularly. After you make a buy order, I suggest you to make a sell order at higher price which will satisfy you. Panic will mostly occur to newbie if they keep watching the price movement and it can change the whole plan.
May 07, 2018, 01:14:00 PM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Thanks
This is what called as panic attack! What you suffering from is the situation which you must avoid now to stop your loss. I mean you might just think that you should sell all the storms that you have got but its wrong. You should not go that way and must hold your coins. I would suggest you to wait at least for weeks or so and thus you will see the storm rising too. I mean most of the coins are just getting little glitches and nothing else. 100 satoshi is not a big deal so you dont have to worry about it.
that is one thing every noob trader with some little knowledge about trading or no knowledge at all and no strategy will always end up experiencing. He is making a huge mistake right now by trying to trade the market without always having an exit strategy in play with even some little loss.He should relax a bit, if the market has broken a particular support, then he should try to break even on that support which would have turned resistance and may likely be tested again, or he can just stop loss now and buy back lower, or just simply hold till eternity no matter what which for a trader would be the last option.
May 07, 2018, 01:08:00 PM
When a market correction happens when the price starts to fall, it may take up to a week for market recovery. I think a good decision for you right now is to keep your coin storm, wait until a week later, then make a decision after.
May 07, 2018, 12:54:57 PM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
You can see whether the amount of money invested in the Storm is reduced or not. If it drops too much I think you should take the losses and sell the coins you have to invest in another altcoin. Thanks
May 07, 2018, 11:49:10 AM
i am beginner trader in binance. many time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader please help my subject.
Thanks
Don't be so afraid!Thanks
All traders lost their deposits first time!
Now you will be more carefully, but if you really want to trade, you can't stop right now
May 07, 2018, 11:21:23 AM
Coins go up and down all the time. Never heard of storm so can't give any advice there. Take a look at the trading volumes and compare the number of buyers and sellers. If buy numbers are low then get out and switch to another coin. Also check the road map to see if there is anything that will raise the demand in the near future
That is just one basic fact and most times, some people think they are buying low when a market is correcting and then they see further low only to get confused and not know what to do.Best thing is to always be very careful in this market and to always have a strategy in place so as not to end up being a victim of losses which I am sure he is getting emotional all about and the last thing any trader want to do is get emotional at times like this which is something that is obvious for someone without proper trading knowledge.
May 07, 2018, 09:33:31 AM
When you buy altcon, you should know at what price you will sell. If you don't know it, don't buy it.
Simple as ABC. Asides that, before entering a market, there are three things he should have put in mind first. When to buy, when to sell and when to stop loss or exit the market quickly if things is about turning awry. However, for someone with little experience and knowledge about trading, that would be difficult decision to make and in that case, I would advice him to stop loss and go back to see how he can do it better next time by studying. Jump to: