How do you Panic?

[aardvark15]

Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.
How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?

With some of the old altcoins that were dying, I would wait too long to sell to cut my losses. For that reason, I stopped buying altcoins except for the main ones that have a lot of trading volume. Most of these coins and bitcoins will probably recover after a bad drop, so I tend to hold and ride it out.

[passionsurf]

Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.
How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?

With some of the old altcoins that were dying, I would wait too long to sell to cut my losses. For that reason, I stopped buying altcoins except for the main ones that have a lot of trading volume. Most of these coins and bitcoins will probably recover after a bad drop, so I tend to hold and ride it out.

It also partially depends on whether or not you invested in an altcoin that you actually believe has great potential. If you just casually buy any altcoin (that you don't necessarily believe in), then a good time to sell is when you've doubled your profit. I believe in Solarcoin, so even if the market crashes to 5000sat or even 1000sat, I'm in for the long haul. My recommendation is to buy an altcoin that shows significant potential, has developed some sense of stability over the course of a year or more and who has the founders actively working to continue to promote the coin.

[HeRetiK]

To be honest, I'm already sick of the panic in other users. I understand that everyone wants to make money and does not lose a drop, but you still need to firmly believe in what will happen in the future. If the forecasts are positive, then it will be so.

This, so much. Especially if there's like a 10% drop after gaining 1000% within just a few weeks. You should always be ready to cut your losses, but if a minor correction instantly kills your confidence in an asset you probably never trusted it in the first place. Don't invest in an asset in which you don't trust.

[clickerz]

I experienced this before when I am new to trading. While trading in Polo, when the price suddenly drops, I also hurriedly sell my coins.You cant explain the feeling  But now, I am used with the price movement and I do not mind if its up or down as long as I know, it can recover.

[Ucy]

I panic so bad as Newbie but improved alot recently. I learned that it's unnecessary to panic if you invested in valuable coins.
Just keep holding If the market unexpectedly goes against you. The stuff always end up reversing... exactly when, is not fully known.

[Mbokani]

It is never an encouraging sight to see my investment go down and everybody panics because you never know how long the market will bleed and how low the valuation goes,i had to sell off some coins at a huge loss once months back because i thought that it will never recover,but after five months it started another rally and surpassed the value in which i purchased.For top ten coins i will not panic like this,but that wont be the case with the rest of the coins.

[Zicadis]

Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.

I do agree crypto coins usually go through bad times and it is always tempting for one to panic but As far as i know in any given situation panicking usually just makes things worse as it clouds your judgment and should be avoided

How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?

I do not panic, I try to always stay calm to avoid making regrettable decisions in the long run .

[giveen]

I only panic for coins which have low market cap for coins like btc , doge , eth and xmr i don't really care much as one day the price will surely recover. Now for alts what i normally do is further dump by selling all mu coins at a minimal loss. And once the price stops falling and i see a bit positive increase in price i purchase with the loss money and later sell for profit.

[xFiber]

I don't panic really. When an altcoin I hold drops I know it will recover eventually because I always analyze my investment before investing in the first place. I think I will consider panicking once the internet shuts off for some reason.

This is a good thought process for when you make a good trade and it starts to get dumped on. I wrote about a similar experience I had back in February, where I doubled down multiple times and ended up coming away with a very large profit: http://www.demoinvestor.com/articles/00000000

That being said, in this situation it is foolish. You do not know that an alt coin is going to recover because your research on the investment bears nothing on the likelihood that its price reaches what you determined to be its value. The alt coin market is incredibly inefficient, to the point that trading them is 100% gambling. Trying to make money on an alt coin trade is luck based and no amount of research will change that. Your odds are just as good at a casino, maybe even better.

Comparing trading altcoins with gambling is just plain stupid. However you have to invest in an established and well developed altcoin in order to reap profits rather than hopping on just another sh*toin. The odds of litecoin gaining another 50% in the next year is 100 times more likely than you winning the lottery tomorrow.

[olubams]

Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.
How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?

Even the best of traders panic at some point. The only thing that does not panic is bots because its not his money but someone else. For me, I had fallen in the past for situations like that which I ended up regretting the fact that I should have waited a little bit so what I do now is just to ignore checking the board altogether and focus on something else and even avoid threads that talks about current price but after a while I check if I am doing fine, if not, the cycle begins again.

[iqlimasyadiqa]

Whether its bitcoin trading or altcoin trading, there is bound to come a time when your investment is getting dumped badly, and its panic time.
How do you panic? Does that really make you panic and do you take decisions that you actually regretted later? Or do you keep calm and HODL?
What makes you panic and how do you react to it?

Declining bitcoin prices drastically makes us all panic, everyone would think to sell their bitcoin / altcoin to avoid bigger losses. I usually see the movement for 24 hours, when the price is still not stable and the rise and fall then I will do the holding. But when prices continue to fall then the best way is to sell them.

[iamTom123]

Getting into the Panic Zone is one of the best guaranteed way to lose one's investment when you are doing trading. This is one area a person has to manage well inorder to survive in trading. As to cryptocurrency trading, you must do your own due diligence by knowing what you are "investing" with so that you know the fundamentals and you can be sure that even if there would be some dump, the coin can easily recover...just like what is happening now with Bitcoin and Ethereum.

Successful traders are people who have already deleted the word panic in their own vocabulary as it can really be damaging if not controlled. The best thing to do when the market is turning into a sea of red tide is actually to buy more coins as they can be in heavily discounted state. Of course, I am assuming that you have more capital under your sleeves.

"Panicers"are actually the ones who are putting more burden on the market as they can sway the direction of a certain crypto but then we are hoping that they can gradually learned the big fact that this trading and there is no straight line here...there would be ups and downs and so many bumps along the way.

[frowsiter]

I have lost money when I panicked during trades. So I have stopped trading as well as panicking. To be honest I can't control my emotions while trading the money. I use to put more stakes to get my investment back but it never happened with me. Whatever I got while panicking was loss and loss. I tried to keep it calm but I was impatient always so I better left it before I can get bankrupt.

[Taskford]

Panicking when you reach around 800% profit, then it goes to 650%, then 700%, and you sell at 600% when you see it reach 500% afterwhile and take a break before investing back again when you see a calmer market.

Yes, you'll get panic when this happens to you.
Getting panicked won't help you in deciding things. You can't think right and your emotions took over you.
Yes better to take a break and pick up your thoughts.
Well as for me, when I feel that there's something wrong, before I get panic I'll calm myself before anything else.

[xuan87]

When I was a beginner I tend to panic when the price is falling down eventhough it's only a little and I often do panic sell, and after few moments the price going up again, from that experience I learned that we need to be patience in trading and it is safer to trade famous alt coin so the price can bounce back and I can evade panic sell

[Bitcoinsummoner]

For me i am not panic easily i just monitor the background and what actually the cause of the price dump..
Because there are still possibility that this altcoin can be increase more after the dump happen and if you sell it you will be lose so better to hold them and monitor if it still in good condition just hold but if you seen a bad news about the coin better to sell ..

[icecube45]

Yes, when I first started trading I often do panic selling and it makes me regret in the next. At that point the price dropped around 10% and many people said prices would continue to fall and I panic for fear of losing more so I sell it, but the price went up several times. It makes me regret for doing panic selling. But that is a lesson for me and now I never do panic selling and always have a trade target.

[Andrew1337]

First time i want to say we should not panic when something is going bad .
I trade a lot but when a coin or a token is going down  , i keep my calm and keep that coin , for example btc price was 2700 usd and went back to 2200 , i was thinking that is going more less than 2200 and i could get a worst proft
I kept my calm and the btc went back to 2800 so i am happy

So finally dont worry be happy !

[mrfreezeh]

First time i want to say we should not panic when something is going bad .
I trade a lot but when a coin or a token is going down  , i keep my calm and keep that coin , for example btc price was 2700 usd and went back to 2200 , i was thinking that is going more less than 2200 and i could get a worst proft
I kept my calm and the btc went back to 2800 so i am happy

So finally dont worry be happy !

Example the price can't comeback $2800 and continue down to $1500, do you have calm to still hold it and waiting? In market everything is possible and you need have a stop loss point before starting trading, it can help you make small loss and high profit

[xFiber]

First time i want to say we should not panic when something is going bad .
I trade a lot but when a coin or a token is going down  , i keep my calm and keep that coin , for example btc price was 2700 usd and went back to 2200 , i was thinking that is going more less than 2200 and i could get a worst proft
I kept my calm and the btc went back to 2800 so i am happy

So finally dont worry be happy !

I don't think a lot of people worry too much about the bitcoin price if they're already actively trading bitcoin for altcoins. But of course the vast majority of people who have bitcoin can panic when the price of bitcoin drops a couple 100 dollars.