Bitcoin Forum

I bought 1st blood for two months now i bought it when it was .00013 now its just .00004  :( ... should i still hold ot cut my loss?

This is a hard situation, because you can sell today, and tomorrow price go up.
Depending on how much you invested. If you go all in i don't know what to do.
In you're place, i've been waiting for may be some good news or anything, what can cause the price rise and sell then.
But if the amount is not significant to you, it is better to wait. IMO

If you practise technical analysis, then you can try to see what the charts tell you.

Don't put your emotions in trading. That's what I learned in trading. I was so desperate with XRP before and it was like 2mos of dump and I sold it, after I checked, it went high again and should've gain profit. Just let it on your trading platform, wait for sometime and for sure it will go high again.

Never heard of 1st blood, sounds like a pump and dump coin, if there are any developments to happen I'd wait.
If it looks hopeless I would sell I guess.

Just a quick combination of the answers from Zeeks, momopi and myself:

Analyse the price charts and based on your analysis, set a price where you tell yourself you will definitely sell without a doubt. If you are able to key in that sell order now, then do it. That is your "stop loss" order. If you are unable to key it in now, write it down on a piece of paper.

If the coin ever reaches that level, you will have sold it off automatically if you had a stop loss order. Otherwise, just key in the order immediately and take out the piece of paper to remind yourself that you made this decision when you were in a rational state of mind and do not second guess yourself.

It is a huge loss and I can understand you are feeling anxious and disappointed now. 1st blood seems like some pump and dump coin as well. If you are not in need to use the money, perhaps you can hold until the next pump.

I think you're okay.In this difficult time, you may see the price increasing of coins being sold the next day.We can not say that at any time coin price increases.If you invested big amount then you hold it.Or you invested small amount then you sell it and loss fill with daily trade.

If cut loss can return your capital and get more profit it may be a good thing but whereas the reverse I suggest to keep the coin.

If you do not need the funds hold, my guess is its found the bottom. A lot of the alt coins are finding the bottom, now is the time to look into buying your favorite coins or tokens.

This coin and most other alts have been in a big long correction since June/July and are
near a bottom. A new rally when it starts next month or later  should hopefully make most coins back
to their old highs.

You bought at 13000sat and now is 4000sat approximately you have lost 70-75% in prices. It will be a mistake for you to sell now because you are not cutting losses, if anything, by selling you are making your loss permanent! I will advice you take your eyes off the coin for the next six months then you can go back to it!!

I would suggest you to sell in case you can see another fine investment option to regain the loss. Yet my experience ended up being a loss in general. I bought LGD and then it went down a lot, I sold and bought doge but it also went down. Then I bought NEO but it didn't change the situation. Recently I bought stratis and it gave me 30% profit already, so I hope I will regain my initial investment eventually, but it's not that easy to do. I would suggest buying Waves, the price is rather low right now and expectations of people about this coin and platform are high.

You bought it in the wrong time.
Every token has a price phase of initial decrease, unnatural rise and attaining a price.
You bought it during the rise and I don't think you'll ever get to sell in that price again.

You do think in the wrong way man.
You never lose money until you sell.
So now your value is under 70-75%. You basically already lost all, so the last thing to do is sell and make it permanent.

Do research. Spend a few days studing the project, who are the team and what they want.
Read as much as you can. And then you will be able to decide.

Anyway, many coins goes up and down and then rise after 2-3 years of stable price... As it's a coin with a very low value, I'll wait.
If it goes just to 0.1 cent (which is quite easy and possible for a coin) you will make a tons of money out of your investment.

I would not sell it and wait. And if you look at the graph and it's constatly pump and dump, i'll buy now and sell it the next pump

Is there any buy volume in the coin or is it dead? If there is no trade then probably best to sell if you can and use funds to regain some of your loss. If you do not need the funds then perhaps put a decent priced sell order and wait to see if it gets filled.

It's very difficult to decide what to do. I remember 1st blood was very popular when it was created. I personally wanted to buy it. Fortunately I couldn't buy it for some reason. there is a high possibility that its price rise again. But these days Bitcoin is best choice for investing as there will be a fork. Converting 1st blood to Bitcoin or any other major altcoin such as Ethereum, Dash, Litecoin might be a good decision. Because most probably these altcoins will rise in price after Bitcoin fork.

It is a very difficult situation to be, this happens to me last year when I bought Synereo ICO and we all know it has lost 90% of the value since then, I will advice you to keep the tokens if you thing there is a strong fundamentals backing the project but if not just sell and take your loss

tell us what coin is that exactly ?
we need to do something in order to make a decision,but for a coin to drop that much i highly doubt it.
i think it's a scam project ? or something else ?
a legit project usually at best will go down 50% from average price and slowly stabilize.
but that thing down for more than 400% which is ridiculous.
i think it would be best for you to cut it out,it would be better for you to get some of it better than lose it all

I hold some 1st blood too but I dont even care what its value. My sell orders are set for the next moon. Most coins always moon at some point or another. The important thing is own multiple coins so that your moneys dont get stuck waiting for the next moon. Most coins are still recovering from bitcoin moon so i would not be hasty.

What I have done recently is buy more of my favorite coins at these lowers so that I can continue trading.

Even if the project sucks or is bad the coin usually still has a pump and dump sheme. if he ever gets that high again...i can't tell you. But atleast some pump will be coming sooner or later and then you should get out if you don't believe in the project anymore...or stay if you do ;)

you don't loose money until you sell ;)

I really haven't heard of that coin. But if you have read the white paoer of that coin and made a brief research about every member of the developing team of that coin, then i think you should be able to know if you should stay strong and hold or cyt your losses amd sell. But i think you haven't done any of those because if you did, you wouldn't be posting this topic. But it ain't too late. Take time to do both and then decide. That is the onky thing you can do to know what you should do and not regret.

I've read somewhere a nice statement:

(this applies for you if you have some TA skills)

Look at the chart as if you have no stake in it. Do you see yourself buying here? Hold. Do you see yourself selling here, or wait for a lower entry? Sell.

I know how hard it is and I'm personally sitting on some bags I'm clinging to as if my life depended on it, although I should know better…

Depend of do you need the money and do you still believe in the project. I'm always buying only amounts I can afford to lost and in projects I believe.
Over the time, I've collected a lot of useless tokens and coins, but those who skyrocketed like NEO compensate them all.

Another question you should ask yourself is: do you think you can put the money to good use right now?

man when i saw the name of this coin i was like this has to be a pure pump and dump  :'(

hope its goes back up so you can exit

if you dont need the money wait. the market will ave it recovery. If you need it badly, to put food on the table sell it. If you just want to keep trading and having fun just study where you are right now, take part of it and try to day trade again and lower the average buying price. It´s fun and it helps you learn. if in the end you loose at least you had fun in the journey. Next time buy a coin you believe long term so you dont sweat so much during bear markets.

And why haven't you sold those useless coins once that they reached 0.00008 each one? those are very bad coins mate, i can not understand why you invested in that project..
Now i understand why some people invest in this kind of projects, because a lot of newbies are advicing to invest in shitty coins in order to make x1000000 in some months, and a lot of people fall in those promises and they invest. What a shame, i hope that you haven't invested much money in this coin.

What's the point of selling anyways? You already lost around 70% of your investment so there isn't really much to lose. Plus i've heard some good things about firstblood, it's probably a coin worth holding if it's at such a low level.

But you did buy at the pump though, which wasn't the best idea.

If you were to sell, wait for a pump first.

Regretting won’t do any good because it is useless to cry over spilt milk. The best is to just forget about it and move on. I would give my sincere advice and that is to go for bitcoin first so that such situations don’t occur at the first place but if that looks a little unaffordable, we have the some good options in altcoins as well.

Starting from Ethereum which is best altcoin and we also have monero, litecoin, and neo, waves, ripple and etc option. Invest in what is old.

¿? This coin is legit, lol. Good project, active development.

Buuut...another question is how it performs against it's competitors...a few days ago GameCredits joined with Unity Technologies, wich is a great partnership, and it is rumoured for more to come...so maybe it makes ppl prefer GAME over 1ST

Thak you for your advice folks. I will still hold this coin and let's see what happens next.

It's up to you. I suggest you to hold, because if it's a good project it is just a temporary dump but over the next months price will move up again. So be patient and wait for next rise.

If you dont need the money at once, dont sell. A lot of cryptos projects are in the early stage and the crypto ecosystem has a lot of room to grow. So be patient and hold

Cheers

sounds like you bought the coin at the wrong time mate, but now 1st blood is almost worth nothing and you made a loss of roughly 70 to 75% I would advice you to definitely HODL! Put them somewhere where you can not see them for a couple months and do not look at it for lets say 6 months or so. ;)

I am in a similar position as you but a different coin (SIGT), i am down 88% from the price i bought at:-( I have already lost so much i am thinking i may as well HODL, if it goes to zero ill only lose a further 12% of my original investment. but if it pumps again then i can maybe recover my losses:-)

Ok, I'll add a little more specific thoughts. Please be aware that this is not financial advice and you have to make your own decisions. I take no responsibility and all that.

Looking at the chart, 1st seems to have found a bottom. I'd do some fundamental analysis. Is the team active? Are the usual channels (Slack, twitter, github and so on) in frequent use? What is the overall mood of people being involved? If you feel lite they are working on it, It's not too bad to hold for now.

That being said, I think game related coins are a catastrophy in the making. I don't see any advantages of cryptocurrencies over existing in-game-currencies, especially when the the game itself is somewhat centralized. "Owning" them in some sense of the word doesn't help you one bit when the server is down. When you are banned, you may be able to sell them to others, but that's about it.
And if a game would want to have a cross-game exchangeable currency, there is no reason not to use existing cryptocurrencies (BTC or ETH for example).

This is more of a feeling than anything else and I am ready to be proven wrong, still, I don't see it. YMMV.

I have heard about 1st blood through a Youtuber I follow (could be Data Dash, but not 100% sure). Altcoins are sill in a correction phase overall, so maybe not the best time to sell.

Hodl! now you cant do nothing but to hodl. give yourself some alarms to sell when you breakeven and most important dont forget this lesson. never buy top!

Even really good coins lost 50% or 70% ...I believe most of them will rebound but which ones I do not know...some may never.

The good news is, even with the loss, you can easily repurchase other coins which are also down...minimizing your loss if any.

Good luck!

Why not? I'm a trader, I always be ready with any situation need me take loss. This case also need him take loss, but he did not take loss before the price of this crypto dump to lowest price as now. There are 2 option for him:
1. Take loss and forget that amount, accept his mistake and research new chance.
2. Hold and also forget that amount until the price recover :P

If I were you, I will hold my tokens, because bitcoin won't continue its up trend forever, when bitcoin start a correction, other altcoins will have a chance to grow again.

This is possible only when there is some negative news around the bitcoin. So the prices of the btc might go down. But also if I think when the price is rising btc is becoming more expensive and fees also rises so ideally people should be buying more altcoins and price should rise rather than dropping.

I suggest you hold,because the price will keep changing
Bitcoin is in the wind right now,so some alt will be in the red

It depends if you do not think the project has any merits or that it cannot give you the possibility to get your money back then you should sell and move on to invest in other coins, but if you think that a project has a future then keep holding, my biggest investment has been down for almost 3 months and I have lost 50% of my investment but I believe in the project since I know is good so I’m going to keep holding for some time.

The altcoin price were affected by the Bitcoin price recently, we need to be patient until the treding of the market changes. However, I scare the whales will go out the market before return the altcoin market. Because they took many profits from Bitcoin, with that amount, they can keep bearish treding in more time for the altcoin market.

more than 50% if me i will hold, that is if me, but i am never  put all amount into 1 order, sometime back up and order in lower price is what we should do if our coins get dumped so much

Haha, I'm still holding my atlcoins and tokens although the price of them dumped ~500%-1000% within 5 months. But to be honest, I do not recommend you should to holding your loss coin as me, because you will miss many opportunities make money and take profits more than the amount you take loss.

I think it is not the time to sell your alt coins. Rather a time to look into the perfect moment to buy them

Start to analyze the trend, if you think that there is possibility to grow up then hold it.

i would only wait for the next pump to sell . . . and buying with fiat more BTC to trade other coins while waiting

Of course HODL if you can, I always hold my coins in times like these. And that usually is the best advice someone could give if your coins are at a low price. Never cut loss because you’ll regret itinthe end.

Yes I agree that we must hold it but I guess for some people its hard for them. But for me I guess we must need to hold it because we dont know that right now it has a low price but someday it goes up that someone cant control it. Never ever cut loss because we never know that we will regret in the past months came or in a year. Because holding it can gain us much income to the future. I think that was the best advice that I can give.

my suggestion is stillhold your 1st blood because i see the line is trying to move to go up and wants to break out although its still difficult because every coins want to use this chance to increase. yes i know the price is reduce too much and not just 1st blood that is reduce, the other coins is down too. but don't worried, you can still hold it as long as you can but if you decide to cut loss then i think you need to think twice for this so if the price is increase, you won't regret about your decision.

Keep a close eye on the roadmap, there will be another bump down the road where if you decide to sell at least you can recover more funds. If you truly believe in it hold for a year.... I'm doing that with tenx even though I'm at a loss

Just wait and keep updating the market and study a good sense about coins.. They are very volatile maybe now that is what we see but we do not know what will happen tomorrow or the day after tomorrow. Maybe now you see it as a lost but might be a good find tomorrow.

1st blood, was got pumped until 0.001 btc on July back then. Too bad you have jumped too early, now it's worth 4,9k sat or $0.29
We can't give you (Well, a lot of peple gave you an advice to HODL it) but if you believe with this token, just HODL it. No one wanna loosing their money on trade, isn't it?

I dont think 1st will reach the price you bought again, at least at the end of year. Dont hold it for now, wait for altcoin grean day to sell.

First rule of smart trading is NEVER invest all of your money in 1 coin, especially when you don't really know about this coin much. But if you already are invested big portion of your money then watch the charts, previous history, learn from the more experienced traders who is trading this particular coin for a long time and then you will decide what to do. Forget about your emotions now. Study on your mistakes and try to avoid them in the future.

No, the first rule of smart trader is manage your capital. As long as you can do it's well, you can trading anything, any type without any limit ... Why do the forex trader just traded USD-BTC but they still have a lot of profits from Bitcoin, because they can manage their capital and know their moves.

Yes, it is true. Recently, I also just trade USDT-BTC or USDT-Altcoin pair, but the profit not worse than the profit I earned through Bitcoin-Altcoin trading. The first skill to become a trader is management your capital, it is very important to become a real trader instead of gambler.

If you can patiently wait for it to back up then hold but if not then cut lost but if I were you, I will sell it.