Loss almost 40%, should stop trading or not ?

[gabmen]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

before you enter of trading first of all you have a long patience strategy and knowledge to trade..dont stop study first because  more invest in trading big income you earn....

I think op's mistake is pretty common for new traders. Once you bought an alt coin, it eould be advisable to just let it be for a while and don't focus on the movement especially if it's just minutes or hours past the time of entry. Beginners would be anxious in seeing the drops in price and they would find a very strong urge to sell, where in fact, it's part of the fluctuations of alt coins.

[1715031691]

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[1715031691]

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[South Park]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

before you enter of trading first of all you have a long patience strategy and knowledge to trade..dont stop study first because  more invest in trading big income you earn....

I think op's mistake is pretty common for new traders. Once you bought an alt coin, it eould be advisable to just let it be for a while and don't focus on the movement especially if it's just minutes or hours past the time of entry. Beginners would be anxious in seeing the drops in price and they would find a very strong urge to sell, where in fact, it's part of the fluctuations of alt coins.

The issue is that most don’t enter with the mentality of holding for a period of time, they expect that as soon as they buy the coin will skyrocket and make instant wins, but since they don’t have the knowledge to choose a coin in the right moment, and they see the coin is going lower they begin to doubt their judgment they did an by doing that, they are sabotaging themselves.

[StarofBTC]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

I think you are buying too high because you don't want to miss out on the action. This is panic buying. Then the price drops and you realize you may have made a mistake so you panic sell for a loss.

You don't need to quit trading. You just have to discipline yourself to buy on dips or price corrections and try to always sell for profit. Just start over and count those losses as lessons learned.

Panic buying ? A new thing I just come to know. When do not want to miss out opportunities we may go for buying earlier even at higher prices that may the situation OP now facing, but I could not find is it right to call this situation as panic buying. We may put this aside, when considering the OP situations, I too will suggest to buy now itself.

Because bitcoin prices are believed to be moving toward $10k price levels. If that speculations are right then hurrying yo buy now itself must be a right option.

Yeah, the terminology of the panic buying is quite new for me as well, as we heard panic selling before and also know and understand the concept of panic selling.

The panic buying may be sort of buying for which you are anxious and can’t wait anymore but want to just go through it in any case or at any price. So, if it is about the Bitcoin then you are right, the prices are going to hit the sky in the future, so better to invest.

[Ethan_Locke]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

you stop. you've already broken all the rules, as you're trading with emotion. Neither Rome nor fortunes were built in a day.

I couldnt agree with this more, the most important aspect of trading is the psychology which lies behind. Due to you losses you'll most likely be trading very aggressively. Many people make the mistake of thinking that they can trade without any market research and learning different techniques to trade. I personally make maybe 3/4 trades per month and I trade only based upon news that I know will have an effect on the price of whichever assett im using.

Be smart, do your research, dont chase trends.

[sujonali1819]

Always you should invest 20% of your money in one place.if you did that you can buy again in dip and easilly you can recover your money.And i think you did mistake to sell your Eth.because it will up it is an potential coin.if you hold that coin now you get good profit.now price is. 019 btc?/eth

[radjie]

In trading things we should be able to do is be patient if you trade in a hurry like you do at that time means you are not suitable to do business trade, If you insist on continuing what you are doing now then it will always make a loss and will continue to lose your money so little that only bankruptcy is obtained in the trade.

[nemagia]

In trading things we should be able to do is be patient if you trade in a hurry like you do at that time means you are not suitable to do business trade, If you insist on continuing what you are doing now then it will always make a loss and will continue to lose your money so little that only bankruptcy is obtained in the trade.

Yes, in a hurry, it's better not to start trading, because there you can rely only on luck and as a rule in most cases you can only lose all the money. You need to be patient and knowledgeable.

[TastyChillySauce00]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

before you enter of trading first of all you have a long patience strategy and knowledge to trade..dont stop study first because  more invest in trading big income you earn....

I think op's mistake is pretty common for new traders. Once you bought an alt coin, it eould be advisable to just let it be for a while and don't focus on the movement especially if it's just minutes or hours past the time of entry. Beginners would be anxious in seeing the drops in price and they would find a very strong urge to sell, where in fact, it's part of the fluctuations of alt coins.

The issue is that most don’t enter with the mentality of holding for a period of time, they expect that as soon as they buy the coin will skyrocket and make instant wins, but since they don’t have the knowledge to choose a coin in the right moment, and they see the coin is going lower they begin to doubt their judgment they did an by doing that, they are sabotaging themselves.

Same goes when another coin is starting to skyrocket, a beginner often falls for this that even do some sort of cut lose to move their money to this coin but unfortunately, the train is gone, and the result is lost.
Though, when price is skyrocketing even a little bit, some people will feel that if they don't sell their coins right now, they'll lose, it's like, they're having a hard time to make a decision.

[itsallpc]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

You have done almost the same mistakes which most newbies do.Even i too did the same thing like you when i entered trading.But don't worry.Even if you have suffered loss,you nhave gained valuable experience which would be helpful for the rest of your trading life.Many have lost even all of their investments.That way,you are lucky little bit.Now don't repeat the same mistake.Do your own research and find the most under valued coin.Invest in it.Also follow the rule "Don't put all eggs in the same basket".Diversify your investment.Invest in two or more good coins so that your loss will be less if coin price drops.

[tigerwood0432]

you are trading emotionally . put your buy orders / sell orders = then close the platform and come back few hours later to see how it goes

[Zicadis]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish.

Great to see other users doing day trading and loss is part of any business but you need to learn to get your timing right and exercise some patience to minimize on such losses and It is not a must that you need to sell your crypto.

I have loss almost 40% from my money, my question is simple ................. stop or continue?

to be honest, if you want to make profits most of the time and do not have the patience then trading is not for you,STOP!

[Low Sigma]

As others were saying, yes, please stop gambling.

I remember when I did my first real trade(it was on spot fx, many years ago when bitcoin was not yet invented)... I couldn't believe that I was down about 30% in a matter of a few minutes.

To make a long story short, focus in building a systematic strategy(begin with some models from derivatives pricing) and then use some very well known models for risk management(hint: Value at Risk), trust me, I come from banking sector.

Keep in mind that a very good risk management plan is useless if your strategy does not have a positive edge, it will just bleed money in the long term.
The risk management plan will help you to tell what is your current risk given the historical volatility(calculated from time series prices) and you can adjust the exposure to fit your risk level.

Those who know how to program have a massive advantage because doing algorithmic trading will eliminate the emotional factor and simply put they can analyze a lot more factors than a manual trader.

On the other hand there is the discretionary trader, but here the discussion is very long.

[wuvdoll]

you are trading emotionally . put your buy orders / sell orders = then close the platform and come back few hours later to see how it goes

Not a so good recommendation to overcome losses, I mean to say you are not including technical analysis to safeguard capital while buying and selling. Staying away for not closely watching trading must be a good idea but it work only when our technical analysis will be backing us. Otherwise big losses are easily available when we are not watching market fluctuations.

[--DarkSecrets--]

you are trading emotionally . put your buy orders / sell orders = then close the platform and come back few hours later to see how it goes

I think it is a good idea especially for the newbies who keep on watching every fluctuation because there is a big chanve there that they drive on pump and get their emotion to sell or buy . Always treat the losses into challenges and the correction of your mistakes so the next time you can recover 40% lose and watch up for coins that have highervolume.

[socks435]

you are trading emotionally . put your buy orders / sell orders = then close the platform and come back few hours later to see how it goes

I think it is a good idea especially for the newbies who keep on watching every fluctuation because there is a big chanve there that they drive on pump and get their emotion to sell or buy . Always treat the losses into challenges and the correction of your mistakes so the next time you can recover 40% lose and watch up for coins that have highervolume.

I think for now for beginners better they are stay in bitcoin since bitcoin is one of the good source of profit and stay trading  with bitcoin.. just like today we are seeing large dump today and the present price is $2,487 and i think its a good price to buy bitcoin again.. and make a profit after few days or weeks if the price goes increase back and hit $2,900 value you can make a good profit..

[Rahar02]

Trading with btc - eth, I buy too high ( 0,082 ) and today I sell all on 0,077. Before that trade btc - ripple ( xrp ), make mistake buy 0,0002150 so today I sell with price 0,0001200. I decide to sell all because my patience is finish. I have loss almost 40% from my money, my question is simple ................. stop or continue?

I'm sorry for your loss, but it seems funny story about your patience.
You definitely buy and sell at the wrong time as timing is one of important factor for traders to get profits.
What do you need is learn from your loss and let it go, quit trading if I may suggest because if you don't have any clue about trading and don't have patience to wait, than you can't get into it.

[Low Sigma]

you are trading emotionally . put your buy orders / sell orders = then close the platform and come back few hours later to see how it goes

I think it is a good idea especially for the newbies who keep on watching every fluctuation because there is a big chanve there that they drive on pump and get their emotion to sell or buy . Always treat the losses into challenges and the correction of your mistakes so the next time you can recover 40% lose and watch up for coins that have highervolume.

I think for now for beginners better they are stay in bitcoin since bitcoin is one of the good source of profit and stay trading  with bitcoin.. just like today we are seeing large dump today and the present price is $2,487 and i think its a good price to buy bitcoin again.. and make a profit after few days or weeks if the price goes increase back and hit $2,900 value you can make a good profit..

Unfortunately is not that simple over the long term-ish. We can see it by just asking one simple question: So I sold my bitcoin and now I'm cash and wait for a correction to enter at a lower price. But what is actually that "lower" price? And the moment you started to put that question, the Universe starts to make fun of you:)

You could be lucky a few times, but then if the price start to skyrocket and you are still cash because now although the price has risen you still want to catch a little pullback to enter at a "good price"...

My advice for beginners: buy and hold. Forget about trading and start reading/learning and then come back just to test ideas. Becoming a successful trader requires quite a few years of really hard work not a few nights spent studying.

[Monnt]

you are trading emotionally . put your buy orders / sell orders = then close the platform and come back few hours later to see how it goes

I think it is a good idea especially for the newbies who keep on watching every fluctuation because there is a big chanve there that they drive on pump and get their emotion to sell or buy . Always treat the losses into challenges and the correction of your mistakes so the next time you can recover 40% lose and watch up for coins that have highervolume.

I think for now for beginners better they are stay in bitcoin since bitcoin is one of the good source of profit and stay trading  with bitcoin.. just like today we are seeing large dump today and the present price is $2,487 and i think its a good price to buy bitcoin again.. and make a profit after few days or weeks if the price goes increase back and hit $2,900 value you can make a good profit..

Yes, it is indeed a very good idea. The bitcoin is the core of the cryptocurrency and one you understand the bitcoin you will easily understand the Alts as well. The mechanism of trading is almost the same of both the Alts and the Bitcoin. So, once you understand the market it will be easy for you to trade the alts.

But everything needs time no one can get success before the right time so you need to assure that you are gradually going towards the success.

[KingdomHearts]

In trading things we should be able to do is be patient if you trade in a hurry like you do at that time means you are not suitable to do business trade, If you insist on continuing what you are doing now then it will always make a loss and will continue to lose your money so little that only bankruptcy is obtained in the trade.

Yes one have to be careful and be patient. I keep on saying it most of the time that those people who are short tempered are not suitable for the trading and even for any kind of business because they don’t have the ability to wait be relax at calm at a situation.

What essential is to observe and for observing you need to be patient and not aggressive. Otherwise it is good for you to work for others only.

[lemipawa]

One thing that I learned about trading is "patience" you need a lot of that and you need to have the "balls" to keep going, you may have lost 40% of your capital today but you can gain that back eventually. It may not take a day or two to gain it back but focus your self on gaining it back because if you quit you just lose your chance to at least get even.