There are few things you have to keep in mind to minimize your losses in altcoin trading;
1. Don't invest all of your bitcoin in altcoins, keep some bitcoin to buy few alts when they get massive dumps.
2. Don't sell on small price correction being panic
3. Don't Buy when some alts are pumping and are at peak price.
4. Don't put all your eggs in same basket.
Topic: When the portfolio goes down - page 2. (Read 942 times)
I would say it depends on your trading strategy. If you are looking for short term moves on coins that have very little true value/innovations, you should set hard buy/sell limit orders to capitalize on profit and limit losses to try and take as much emotion out of the trade as possible.
If you are invested in a coin with good long term potential, enter small positions on dips and downturns to cost average your overall portfolio if you believe in the prospective future. Dont buy all at once though, leave some capital to purchase if and when there is blood in the streets
If you are invested in a coin with good long term potential, enter small positions on dips and downturns to cost average your overall portfolio if you believe in the prospective future. Dont buy all at once though, leave some capital to purchase if and when there is blood in the streets
So it happens to almost everyone who trades altcoin, but how do you deal with it and keep yourself patient and motivated?
When your portfolio, the alts you own all or most of them take a big dump?
Is it very easy to panic and sell for loss, but do you actually keep hope and have the patience to wait?
When your portfolio, the alts you own all or most of them take a big dump?
Is it very easy to panic and sell for loss, but do you actually keep hope and have the patience to wait?
I'm dividing my positions with any altcoin up to 5% of my total trading roll. Usually ~3%.
In case of dump, this allows me to not panic, but wait. It the coin hit the ground, count it as a loss an continue. But 3%-5% loss are not so painful for acceptance. In such case I'm just doing re-analyze why I bought the coin at the first place and then what happens before the dump.
I bought TRICK and AL at the rate of BTC 0.004500 and BTC 0.000199 respectively some 3-4 weeks ago. They got dumped and left with price equal to BTC = 0.0000001 that is just for their own existence. I have got like 5000 AL and 1000 TRICK's on my account. The amount is too much and I'm patient about it. I want them to increase anyway. The first thing I keep in my mind is that, they are already in loss and can not cause me more loss than this. Secondly the money I have invested in them are not in use by me as I have traded only the money that I don't want for my immediate use. So these two things motivates me to keep the patience and wait for that rise to happen. 
prevention is better than cure!
in other words dump before getting dumped on.
it is very simple, most people who lose money are losing it because they hold altcoins for too long. they all know what's coming to them but yet they still hold on to their altcoins tight because they have fallen for the hype.
of course this partly comes from people being greedy and not satisfied with a small profit and want the most.
just take a small profit and sell! when prices start to fall it is not easy to keep your cool. specially if you have a big amount on the line not something like 0.01BTC! and the bigger the investment the bigger the stress and harder it would be to control. so just don't let yourself to get to that stage.
in other words dump before getting dumped on.
it is very simple, most people who lose money are losing it because they hold altcoins for too long. they all know what's coming to them but yet they still hold on to their altcoins tight because they have fallen for the hype.
of course this partly comes from people being greedy and not satisfied with a small profit and want the most.
just take a small profit and sell! when prices start to fall it is not easy to keep your cool. specially if you have a big amount on the line not something like 0.01BTC! and the bigger the investment the bigger the stress and harder it would be to control. so just don't let yourself to get to that stage.
It meaning cut loss, never easy but have to be done. Keep calm and don't lose control, is better than hold too long. Try to take another altcoin for a new trade and strategy, so your plan keeps spinning and grow. Most people will leave this altcoin ( make your loss ) for temporary until they find the best moment to start again, never give up because of cut loss and keep trying. Realize the risk and deal it. Good luck
prevention is better than cure!
in other words dump before getting dumped on.
it is very simple, most people who lose money are losing it because they hold altcoins for too long. they all know what's coming to them but yet they still hold on to their altcoins tight because they have fallen for the hype.
of course this partly comes from people being greedy and not satisfied with a small profit and want the most.
just take a small profit and sell! when prices start to fall it is not easy to keep your cool. specially if you have a big amount on the line not something like 0.01BTC! and the bigger the investment the bigger the stress and harder it would be to control. so just don't let yourself to get to that stage.
in other words dump before getting dumped on.
it is very simple, most people who lose money are losing it because they hold altcoins for too long. they all know what's coming to them but yet they still hold on to their altcoins tight because they have fallen for the hype.
of course this partly comes from people being greedy and not satisfied with a small profit and want the most.
just take a small profit and sell! when prices start to fall it is not easy to keep your cool. specially if you have a big amount on the line not something like 0.01BTC! and the bigger the investment the bigger the stress and harder it would be to control. so just don't let yourself to get to that stage.
You need to take profits at some point, if you don't your portfolio will just go up and down.
Try not to sell anything on red, and realize some profits.
Try not to sell anything on red, and realize some profits.
So it happens to almost everyone who trades altcoin, but how do you deal with it and keep yourself patient and motivated?
When your portfolio, the alts you own all or most of them take a big dump?
Is it very easy to panic and sell for loss, but do you actually keep hope and have the patience to wait?
When your portfolio, the alts you own all or most of them take a big dump?
Is it very easy to panic and sell for loss, but do you actually keep hope and have the patience to wait?
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