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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 (https://coinmarketcap.com/currencies/storm/) 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.

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

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.

no i don't want to reffer this link i just share my afraid for peace from senior trader. and

i want to hold more time. if i do hold can i make profite ?

Thanks

The price of Storm down because the price of BTC going up, actually in rate USD you not loss, in fundamental analysis Storm has massive potential to keep growth because they has amillion active user, we can see it from their mobile app that downloaded by amillion user. In technical analysis Storm has big chance to going up because this token was going to to highest level $0.2 a few month ago and could be this token will go there again, just need more patient wait for that.

What's with the poll?  :D

There's a high chance that you can make some profits, but you gotta be patient, you might have to wait for the next uptrend or altcoin cycle.

I'd recommend you to keep calm and hold for the time being, market is going down at the moment so no reason to panic dump Storm. Also, friendly advice: don't give in to emotions, if you do you're going to make some poor decisions.

Looks like it has same answer and dunno what's "n" stands for? It might be "No".

Sorry but your words are contradict. You said you have made profit many times, but now when one of your investment goes down (STORM) you have become afraid and don't know what to do. You should be know about this and make up your own decision (either to hold it or sell for loss).
Don't say "Loss" when you didn't sell your token yet.

When you buy altcon, you should know at what price you will sell. If you don't know it, don't buy it.

Day trading should be with SOLID coins / tokens only so you don't get burned when the market " wanna " correct for some reason.
If this coin is solid enough & promising, then nothing to be afraid of, just keep holding it & like they say in crypto, you're not loosing unless you're selling.

If you have made profit in binance then you must accept that the coin may go down as well after you buy...even the most experienced ones are not always in profit..its part of the trading..As of storm it can go up again...you must decide if you can hold it or sell it for some loss

I see that you are a beginner like you said because most traders think like you are. Instead of panicking of selling it, why don't you just hold it until you get some profit. Take note that cryptocurrencies are volatile and now is the market correction day. Market correction is a challenge for newbies for their patience. Be patient, just hold your coins and wait for it to rise again. Instead of panicking and posting like this, why don't you just buy more since its down now. In the end you will get a greater profit as it shoots up its price.

P.S. Don't sell your storm coin until it rises or if you are impatient enough and you can take a loss then just sell it a loss. Don't regret after you see storm's price rise in a few days.

first : Don't worry , losing is a part of trading.
second You should have used stop loss if you are a day trader or swing trader .
Good thing is that you know it!
You could have lost more money to find that out , So be thankful and keep it on.

Loss in trading is very common and part of the making money you should not worry about it so much. I don't know storm coin but it probably decreased due to general market decrease so don't sell for loss!

u wont loss unless u sell ur coin/token
just be calm down and dont panic
be long term hold
or sell and move on another coin/token

but i can suggest hold urs then wait for the price go up

its called experience u can learn from now then

No senior trader would able to help you out regarding into your situation but we would able to give you some idea but the final decision would really be depending into your view on the coin which you had bought which is storm. Come to think of that not all days on trading would really give you a happy face or simply a profitable day which there are really times where you suffer loss. Panic is common but selling off on loss would always be a bad idea. Whats the reason by the way why you bought storm on the very first place? Its either would be for long term or just shorter ones.

You are the one that made that trade, you know why you made it, you should have a strategy of what to do when things go wrong since you are not going to win every trade, if you are a day trader or a short term trader then it could be a good idea to have a limit to the percentage that you are willing to lose in a single trade, by the looks of it you are losing about 14% on your trade, if that was me I would have cut my losses when I lost 10% but other traders may prefer a tighter margin and some others may prefer a larger margin but that is up to you.

Thank you very much all of trader for your important words. I will try to work with patience in the future.  :) :) :)

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!

If you still have the capital, you can buy back the coin twice as much, but if you do not have enough capital you hodl so the price goes back up. Patience in trading

When you do trading, you should always expect every possible scenarios because not every time you trade you can easily make profit and it is normal to lose as cryptocurrencies are not stable and the price is not predictable. This is why you should always have a plan/strategy before you trade, like when will you take your profit or when will you cut your loss if the market drops. But for me, you shouldn't be worried about this 100 satoshi dropped in price it is not that huge, because it can be easily recover within a day or two. I don't normally recommend what to do in this, but in this kind of situation it is easy to make a decision, just hold it until it recovers. And lastly, if you will trade with emotion, then better to just stop what you are doing.

Now it is below 585 sats.
so if you have some btc you can buy more .
For instance you bought 1000 storm with 707 and now you can buy 1000 more from 585
and then your average is now 646. so you can put your 2000 to 649 to sell it without any loss or more to have some small profit

Even the professional and experienced traders don't have the success rate of 100$ so you no need to worry about for that 100 satoshi loss,you have two options now either hold it until the price recover for your profits or just sell that coin and invest on other coin which is currently bumping then you can make some quick money which can help to equalize that loss from other coin.

Both highs and lows are part of the trading. You will experience this moment (or I would say "feeling") lots of times in the future. There are two ways to approach it. Either set up a stop loss, for example sell if your current coin holding decreases for 10%. Or sit the loss out, just wait until it goes up again. The latter requires more fundamental knowledge about the coin you trade.

If the coin you bought has the potential for future growth then hold it and wait for its price to bounce back. Falling prices is a part of every cryptocurrency and this will followed by price uptrend later. According to some report, storm has the potential for profitable long term earningso don't lose hope if its price goes down because it is only temporary.

Don't be so afraid!
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

You mentioned that you are new to trading and to be honest i do not know if that coin is actually good. Anyway if i were you i will cut my losses and seek other coins to buy. It seems that you are afraid of losing more and you might sell that coin when it hit bottom which will lead to losing more money.

it all depends on you, if you think the storm has good potential for long term then you should hold the storm. but if it does not have good potential then you should sell the storm and reinvest in a more potent coin. let you suffer losses because a little loss is a common thing in trading.

For me and others loosing is very normal. because without loosing you can't say that you've become a trader and don't feel bad if you loose it's just part of the learning process.

All the coins are little down in current scenario so you should hold for one more week again this will raise but if you are a beginner don't try the unknown altcoins because this is not a perfect platform in Beginners. In future you must check the future possibilities of the coin then invest to trading otherwise you are not survive in trading platform.

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.

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.

If you take time reading what OP's said its not his first time, he already dealing with trade though he's a beginner but he already manage to earn from his trading venture I think what he's afraid right now is losing he's investment due to this current dumped of the coin that he's holding, for OP better to stay calm and observant don't react too fast, check first the project if there's ongoing progress or updates then decide if you can wait or you need to cut your loses and start all over again.

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.

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.

;D 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.

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.

Ok thanks for suggetion

I agree with this thing where when i was still a newbie seeing the price actively would really be a stressful thing which would result into a mistake when you do such habit.Losing money cant really be avoided because this is really very a unpredictable market which each decision would really even be a losing or wining trade.Just remember on learning up on the things when you commit mistakes so that on next time you would really able to be aware.

I am sure his idea was not to hold for the long term since he mentioned he has been trying to trade the market for a while and that simply means he has just been lucky in the uptrend which makes it pretty easy for anyone to trade in and now during correction, he must have ended up buying while thinking it has hit the low part.

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.

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.

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.

When you come as a trader in this world, there are some extra responsibilities and traits that fall over you. The first and most important is you must have leant best of your capability about basics of trading and bitcoins. This one single trait could be enough for your win or loss. You may be taking your investment to the sky with this and likewise can get it buried under tons of mud.

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.

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.

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.

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.

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.

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.

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.

yes i need so patience . thanks for advice

yes now i am understand. and from now i will try to my best

You’re right in a way, but not really. Yes it’s not quite good to buy when the price is on a bull run, but you can still buy at the early time when the bull run is about kicking off. Just like last year when the price reached close the $20,000 price rate, those that purchased at the price rate of $15,000 were still able to make extra profit of $4000 to $5000.

So it’s all about getting in at the right time when it’s still early. Those that happened to lose their money are those that invested at the price rate of $19000.

It is necessary to evaluate all factors influencing the price of a coin in the long term without any self-deception. If the factors estimating future coin growth outweigh the coin, do not sell the coin now.

The mistake usualy beginer made is over confidence after they trade and get profit. The truth is you are just lucky if you beginer and make profit. Then you need to learn more from all aspect. Dont panic its part of trading you lose some you win some. Learn how to magae the risk is better then anything in trading.

Yeah, it may be a coin with a very huge potential and could do great in the long term. However, in this context where the OP is trading, I do not think holding should be his best option and he should know better to when he would be stopping loss if he really knows what he is doing in the market and I guess that would be a hard thing to do without any knowledge, which leads me to why he should be trading in the first place as that is the only reason he would be getting emotional about his trading right now.

This is not only true in the market of cryptocurrencies, unless you're a very experimented trader it is a huge mistake to buy anything during a bull run, just look at what happened to all of those people that bought real estate before the bubble burst in 2008, they thought that if they did not bought a house they will be priced out of the market of real estate forever, and now they're paying mortgages that are way higher than the value of their properties so no matter what they do they have lost money and the same principles applies to cryptocurrencies.

In my experience, you should look for a Crypto market expert and make friends with that person. He will help you a lot about the rules of the Crypto market and how to avoid FUD or Fomo. I am a newbie and a friend who leads me and teaches me how to operate the Crypto market.
I did not panic when the market went down and I saw it as an opportunity for me to get rich.

Don't worry you need just to hold , take this golden advice don't sell if you haven't any profit , just hold and hold and the price of storm will back .

You need to learn first from your mistakes, there is no assurance in trading but one way that would help us out and trading at some point if we are going to discipline ourselves by not making too greedy in having a profit you should focus for at least 2-5% profit at first since you are just starting.

you need to make a portfolio, then there is no need to cry about losing 10-15%

Today Bitcoin price dipped which affect the altcoins. If you believe in the coin, you can hold on to it until market recover. Trading is an activity with high risk. I suggest you to reconsider to continue trading if you cannot take the risk.

Its indeed high risk but somehow the level of it would really vary into your knowledge and skills towards the market.If you do have already the experience then most likely you wont really be affected into these kind of loss which you will treat this as a normal thing instead.As being said above if you cannot take the risk on the very first place then trading thing wont really be for you.

I guess now that you sold your tokens because you're so affected and your a newbie without any information on what are you doing that you may thinl yiou will lose all that money you have. You should learn and educate yourself on the subject of your own business or investment which is trading. Don't get rush or believe on someone who says buys this coin without bearing with you what you are going to buy and how this or that coin will make you earn or lose.

All you have to know is that market rise and fall I know looking at your money dropping gradually you will feel like let me quickly sell in other not to loss all. But I will tell if it a coin that you make research on read their whitepaper see their road map and it also promising and also look at the number of buyer and the volume of the coin, if it high, it better you should still hold on on such coin. 

I'm a storm holder too,I bought at 650 and price went down. As long as you didnt sell it yet,you cant call it a loss. I suggest,if you have extra btc to buy more at this rate 485,and make calculations to retrieve the price  of the first batch you have bought. So at this rate if you'll gonna cut loss, you'll just gonna waste your money. Better hold till market is stable.

ok i am holding

from now first i will do technical analysis after i will invest.

In you begginer in crypto trading for the better only trade in pair USDT because this is will be more easy because rate of USDT does not have volatility, so we only make analysis in 1 digital asset, and we can avoid big loss when all crypto drop cause bad news by turn as soon as possible all crypto asset to USDT.

Ok Thanks for your suggetion

10% to 20% fluctuation in crypto trading is common during unstable markets. The worst thing you can do is to panic sell.

It is either you hold on to the coin till it rise or buy more of the coin at a lower price to lower the average buying price.

You must have been trading with some strategy why did you bought storm was it based on any TA or just some gut feeling? If it was merely a gut feeling then my dear friend you must have sold already while instead if the trade was based on some TA then you might be knowing the correct stop loss for your trade sell at that point. In both cases I think you might have already missed the stop loss so now the best thing being a noob trader you can do is hold. Its obviously not the end. Storm is a good coin and will surely recover back. However if you are a bit confident you might choose otherwise to make back your money in some other crypto too.

You just have to exercise patience and hold on to your coins till the coin goes back to the top. You have not lost your $150 until you sell for less than you bought. It won't take storm a long time to  recover.

Best luck in your subsequent trades.

how many people went bankrupt on such things. Your initial success is called "beginner's luck". A new trader comes and he is usually very lucky in trading. After some time, the novice begins to think, that he knows, how to make money on the stock exchange, although often it is not. And the result is always the same - money lost.

Man, here you are right  100%. When the newbie starts to panic, he can make even more mistakes. It is better to take a small pause and estimate the situation. 150 dollars is not even a loss, especially if he did not sell the cryptocurrency.

When the coins get dumped, either you buy more when its fully down or you hold until it gets back up. These are the only ways my friend, if you sell when it got dumped then you will be in loss so be patient and hold. Most of the coins get pumped with bitcoin and will be trade able.

The best thing you should do is to hold them until it increases back again then you can sell them and buy another cheaper coin then repeat the cycle all over again.

This is completely true in other markets a fluctuation of 10% or even 20% could be a disaster, and the media will be covering that huge crash and people will be very nervous about their investments, but when you invest in the market of cryptocurrencies you need to leave that kind of panic behind you I know it is not easy but such movements are very common in this market it is not rare to see a drop of 10% and then the next day we see a rise of 10%, so people need to adapt to the way this market moves if they don't they will lose money.

Ouch, one hundred fifty dollars is a huge amount already but we should not feel devastated and upset about that since it will not help your situation and will make your situation even worst.

The current trend in overall negative and most coins are losing their value every day.
I would recommend refraining from daily trading with altcoins for the next couple of weeks, at least till the moment when BTC and ETH go back to $7,500 and $650, respectively.

Sell this coin and never again open an order without a clear trading strategy, which you will adhere to. Learn to first trade on small amounts and as soon as you begin to make a profit on an ongoing basis, then increase the balance.

if you still hold storm coin until now it's mean you make a right decision to hold it because this week the market begin to increase again, you not totally loss your money when the price down but you just need the time to see the price increase again. become as a trader it's mean you should have patient.

Don't be so irritated by that because it is a normal thing between all of us traders, I had some situations when I last even more, even 10 times more than this so it is like the process you cannot avoid that

That’s sad to be heard and heart breaking that you loss 150 US dollars from storm coin from binance 
but just let this as a lesson that you must learn to be able a better investor in this business.

no need to panic like that, because Cryptocurrency is true its up and down its price every time, just we do not know when Altcoins will go down or up.

I hope HodL alone Storm Coin for some time, see its roadmap on the Storm Coin website, if the next month there is a good project from Storm Coin then it could be going up its price.

My suggestion for you is to stop trading. As I see on your statement, you lack the most important thing in trading and that is controlling your emotions and bringing discipline to all of your trading. You also shouldn't also rant you losses here.

I think you would not pay so much attention to that because it is a common thing to lose while you are trading on this market. So you should better start to be more careful and continue to do what you have been doing before.

You should either hold it until it recovers or create a sell order for the amount you paid so you can quickly recover your investment when the coin returns to your buy price.

well, I think you should read something about this coin in order to find out a suitable way to do with it. There are many news on the internet which can help you in this situation. If the coin is bad, I believe that there is nothing we can do but to sell it immediately. If news proves that it is a sleeping giant, why not risk our money for a better profit in the future :D

Before you start to do trading activity make sure you make risk management,  how many % you set for loss and how much for take profit . On every trade always will be 2 scenario,  that is wrong prediction and right prediction,  So very important to use stop loss whenever make open potition so if you prediction wrong you will loss as stop loss level.

Well he's already lost 150 so that probably would be applicable to his next trades. Now, recollect yourself after than loss and don't take it too hard. People are losing a lot more than you so you're not alone. Take it and learn from it.

I think you lost money if you buy and sell at the wrong price and patience is the keys in the market.  A 100 satoshi lose is not a mush concerned to me if you are ready to hold for some time.  I will said in this market it is very difficult for us to have our ways always!

You will do,try and try until you success!failure will teach you how to become successful trader.so if you failed or loser don't be scared it's normal..nobody come successful  immediately..

First and foremost don't trade in fear in this game. Have it at the back of your mind that loss is inevitable, so all you need to do is trying not to acquire loss rather than aiming for profit. Now your trade have already gone bad, there are several things you can do. Either you cut your loss and restrategise or you need to wait it out. But in this current bear waiting it will be bad because the market is really dipping anyhow these days. Since you are trading with Binance, learn to use stop loss and that way you will always minimize your loss.

I think that at this time you should not invest and trade altcoin, you can see that the market is fluctuating continuously and hard to kick, bitcoin prices are constantly adjusting and falling sharply in the past days and drag The price of altcoin is going down dramatically. The market is in a downtrend stage, so I believe that at this point you should only invest in bitcoin trading.

You have to prepare your self on this kind of market behavior. Sometimes your investment will be cut down to 50% but there are times your investment can double up to 100% but in times when your investment is slashed down to almost half, try to sell a portion of your invested funds in another coin with potential or better yet, keep holding till the price recovers.

No offence to many on here, but I think a lot of the guys on here don't know what the F*** they are talking about or are just full of C***


This post shows exactly why you should not take advice of some internet mugs.  

The correct answer woud have been to have a stop at maximum of between 3/10% of the position value.

Look at the price now!! its a seventh of what it was then, its absolutley tanked.

When you start trading, you feel scared and confused when your money evaporates. But market fluctuations are normal when it go up or go down. You need to keep calm, losing control will make you lost money.

Actually it is the usual price reduction because this is only a matter of time. Up and down prices always occur every day and the decision you must take will be in your own hands because it will determine your money.

Trading is a two side game, you cannot Always win, you have to learn to take also losses. The main rule here is "the trend is your friend" so if the overall market has been tanking for months, it probably will go on tanking.

I think the loss is very little, many people have lost thousand of dollars since the january, if you can't make it rise you can't do anything for me. Just wait

Holding them for some time may give you back your investments. Though it is not easy, it is highly recommended. Another suggestion would be, dont trade if you cant bear the loss.

Until you stepped out of the asset, you did not lose anything! But, I think you will soon lose most of your money, because at the first loss you run to the forum and ask for help, so you're a hamster in trade, and we all know what they go through when they sink into the crypto currency without knowledge of technical and fundamental analysis.

We must accept when we lose in trading because we are really lucky to beat us when the price falls with the experience.

I think that at this point you should only invest in bitcoin and should not invest in altcoin, you can see that bitcoin prices are constantly fluctuating and adjusting very strongly, the market is in a bearish long Because altcoin prices are falling sharply, so with no market, I believe you should not invest in altcoin and invest only in bitcoin.

Actually, the market is in downtrend and most tokens with great projects are dipping. Trying to trade in these times is very risky as the tokens you bought have a big chance of going down. You should in my opinion hold your coin if you truely believe in the coin.

Well, such things usually happen with traders. Just be ready to compensate such losses with other better trades, that's the only thing a trader can actually do. Now you'd better hold storm because it will probably grow in nearest months.

Storm token was back to bottomed price, and in the long run this token has possibility to going up more because they has live product. We have to patient wait for bull market. If this token going up back to the highest price we can make profit 20 times.

Before trading make sure you have risk management , how to reduce the risk by use stop loss, Binance have stop limit feature and you can use it for stop loss. And after you cut loss it, you can buy others coin that look will going up. All crypto too high volatilitas , so you should be use stop loss whenever make trade.

Thousands of dollars is still a small amount, people have lost millions in the crypto crash.  Hell, even being a millionaire these days isn't much of an accomplishment.  To be truly wealthy and powerful in todays world you need to be a billionaire.