what if faced with such a situation and what your backup plan is - page 2.

Ctn

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Quote from: v0rtecxz on March 04, 2018, 11:11:33 AM

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

There is no need of back up plan as long as you are holding it for long time and selling only when the prices are more than your buy price. It is obvious thing that if you want make good fortune and if you are planning to hold then you should really hold it until it gets spiked. There is no need to sell before you hit the exit point for your trade. If you think that your coin is ogling down in the prices then you should check twice what is going on with the project development. If there is unusual activity then you dont have to be panic about it. If you are having good time with the project then just make it happening trade ever. Cheesy

Gaaara

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We cannot always have a back up plan, in trading each decision takes risk and it is up to you whether you will cut your loss or continue hoping that it will rise and kickback. The only thing that is matter is that your decision is being made by random instead you need to think through and start reanalyzing things.

olubams

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Quote from: v0rtecxz on March 04, 2018, 11:11:33 AM

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

There is no back up plan any where just some random decision that needs to be taken whether its going to be worth it or not. Its after the decision is taken then you wait to know whether its the right one or not. Although, decision taking process in trading is not something that straight forward as several things have to be put into consideration but the moment you have the feeling that you can win at all times, you are likely to make such decision easily and timely at that.

rodalutor

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Quote from: v0rtecxz on March 04, 2018, 11:11:33 AM

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

If you are sensible and only invest an amount you can afford to lose then your real life circumstances shouldn't be greatly influenced by this decision which makes it much easier.

If you expect that the price will drop further then sell your coins and try to buy back later.

If you think the bottom is close and they'll recover soon then hold on to them. It's really quite simple.

sirenmoon

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Patience is the key in the most cases when the price starts to fall down. In most cases, the chaos phase in the market ends pretty quickly and the patient ones investors are actually happy afterward after they had realized that their patience was the key to their success. There are other cases when some of the altcoins are starting to fall and the demand for them is dropping off significantly and if the traders ain't educated enough to run from the specific crypto coin they end up with a loss. Education and researching about your portfolio is the key to success along with the patience which must be used in some cases. My backup plan is determined by the circumstances that are appearing at the given moment. The real answer is that you can not use the same backup plans with every crypto.

dumble1

newbie

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Quote from: v0rtecxz on March 04, 2018, 11:11:33 AM

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

of course wait, if you have enough funds to maintain your life style and if you believe your crypto assets will go up some time in the future or otherwise suffer losses and fix them.

Virtual miner

sr. member

Activity: 728

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Quote from: v0rtecxz on March 04, 2018, 11:11:33 AM

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

Trading is associated with such kind of risks. One must understand that these risks are sure to accompany any kind of trading. So it's always advised to embrace *patience* while trading.
So coming to your question, it really is a subjective decision. Because it varies from person to person and situation to situation. There are some traders who can wait till they get sufficient profits in terms of price rise. And then there are certain others who are quite impatient and start selling off their holdings as and when they see a minimal price reduction because they are not willing to take up the risks.
So if you have some fixed source of income, i would suggest the first optiom that is waiting for the price hike. But if you are short of funds you cannot manage to block your funds, you ultimately have to sell the holdings and bear losses.

v0rtecxz

sr. member

Activity: 406

Merit: 251

whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

Topic: what if faced with such a situation and what your backup plan is - page 2. (Read 227 times)