Previous few month we see all altcoin price is decrease.So at this time how I recover my loss.I decided one think,I want to sell my all altcoin now.And try to start trade and recovery again.It's possible? Can I do this.Tell me your opinion, can do or not?
I don't think this is the best strategy that you can do in trading. Its better if you average out in order to regain your money. If you don't know average here is the short and simple way of explanation. Credits to the one who taught this to me.
For example: You bought BTC at 8k and it dipped and it reaches the 7k mark. Buy again at the 7k mark and wait for it to rise. Average it (8k + 7k = 15k and then 15k / 2 = 7.5k). This means that if you sell your BTC at 7.5k, you are now break even and selling it at higher price will give you profit now.
I've tried what your thinking of doing and it didnt really workout for me. I ended up loosing more than what i initially had and it created a sense of desperation in me which made me want trade even more in an attempt to recover my profits. If i were you i would just hodl which is what im doing right now.
I also tried that strategy one time when I was a newbie and can't control my emotions. I ended up losing my money too but gladly I didn't lose all. Now I am recovering my loss and now I am have much more knowledge now and I can control my emotions.
Trying to revenge from markets only can lead to one final: Trader will lose all balance/investment sooner or later. Recovering loss is kinda to keep falling knife while you act emotionally. Market is always right and trading mistakes will make you wise person.. I always turn off computer in case of losing money in market.
One of the worst thing to do if you sold it a loss is thru revenge trading. This happens when you can't control your emotions and you let your emotions take the way. This must not be done and you must control your emotions even you are at a loss. First think when you sell at a loss what will you do or feel?
When I trade, I always ask myself "When I do this, what will I feel or what will I do?". In this way you can control your emotions.
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