Altcoins are all down, so how do traders make their earnings?

[Strongkored]

I'm in the same situation as you, a bit annoyed and impatient to see this but I prefer to wait until the end of this month, because I believe the altcoin that I'm bought is a potential coin, this is just a normal situation the price will go up soon.

[jhenfelipe]

Both suggestion will be risky. It's either you wait if you believe that the coin you are holding has the potential to increase in price again or you can sell low and buy lower to load up your coins. Sometimes waiting is boring, so if you are a risk taker, you can sell your coins in a lower price and buy again in much lower than your sell price. This will help you collect more coins, so when the price go up, you'll have more profit. I've tried this method before and I gained profit BUT STILL, always check the market because there are times that you can't buy any lower and you might end up losing again.

[tiggytomb]

Depends on what coins you are holding.  If you believe the coins are decent then hold until they go back up, if you bought some coins looking for a quick profit and don't know anything about the coin then find out about it and decide if it's worth losing money over.

I would say hold tight for a bit.

[layoutph]

Thank you for the suggestions guys. The Big lesson I learn in this trading is: Never trade while Bitcoin is under retracement or correction, or you will find your self in a negative position due to altcoin dump. Wait for lowest dip, then buy. Sell once you reach the top. Play scalping until Bitcoin correction is done!

[Dudeperfect]

Even if investment in Bitcoin is considered as a risk due to price volatility, It is still the safest investment as compared to the investments in altcoins. I would advise you to hold your investments if you can bear some more loss for the short term, as it is a cyclical process and there will be investors who will buy the coins at that level so again the price will increase so as soon as you hit break even, start selling your holdings in small lots.

[Low Sigma]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

Responding straight to your question in order to make profit even when the market is falling, you have 2 possibilities:
1. you need to use short selling. So when the price is decreasing you are making money, but you will need to guess the direction(up is long; down si short)
2. or by using only long positions: even when the market is going down, there will be small rebounds upwards, but it is a very tricky approach, you kinda need to buy a falling knife and pick small profits.

What I said, it is from a trader point of view.

An investor would use this corrections to buy and also it is perfectly fine for them to average down the entry positions.
So be very careful from the beginning if you want to be a trader or an investor! If you are a trader, you need to cut your losses short.

The worst scenario would be to enter into a position as a trader, then you see that is going against you and then you will say "oh well, no problem, I will act as an investor from now on, I will keep the position open regardless what market will do". By doing that, you just became an irresponsible trader.

[Adbitco]

The very first lesson in cryptocurrency trading is to keep patience. The coins you may have bought might be in red but to say that all of them are in red is wrong there are still some coins which are in green and it's those coins which help traders make their earnings. I would advise you to keep aside a few of your btc for situations like these when most of your coins are going down but there are still ones which have an upward trend and you can make money with them. At least this is what I did past few days and made a few earnings.

[Hamphser]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

Short thing here is that you bought on those price which are still on the hype or on their new ATH. You did enter on the wrong timing which you would eventually suffer reds on this case when prices do make corrections. You should not let yourself affected on the hype and decide to buy and buy since you see prices do rally going up. Prices changes anytime and dumps anytime which would really gives us lose and the feeling of holding forever is there and i would really like to suggest that dont ever try to sell on loses. Better to wait than to sell on lose.

[Potato Chips]

A quote that has been said over and over again in this forum "if theres a pump there's a dump". don't panic this is normal. what you have to do right now is to wait. never sell your coins lower than their bought price because thats where you lose particularly if a coin has been rising  too quick, there will be a correction which is a decrease of its price.

your mistake here is when joining a pump you should have gotten out quickly. this is what they call short trade. there are many tips, strategies and guidelines in the internet, search and read it buddy,

[buwaytress]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

This is a great time to learn patience. The good news is, you're only about 15% in the red based on today's BTC price. As Bitcoin will surely return to the 2900 level, as will the price of alts.

More good news: it may feel like forever, but it's only been a matter of months. If you're a long-term trader, this is something you must expect. If you're not. then cut your losses now and learn a bit more about short-term trading before you re-enter. More good news: You've gained experience and should make note not to repeat the mistakes.

[xFiber]

I don't think wise traders don't trade a whole lot at this moment of time simply because the risk reward ratio is not worth it. Maybe some are going for quick and safe 2% profits but in the end it might not be worth it.

[momagic]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

Keep holding and buying. After this time, they will all grow up so don't need to worry too much, everything's gonna be alright.

[layoutph]

Thank you for the straight forward answer sir, can you teach me how to do that average down technique? I heard it already but never tried it. Cause I do not know how to apply it properly.

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

Responding straight to your question in order to make profit even when the market is falling, you have 2 possibilities:
1. you need to use short selling. So when the price is decreasing you are making money, but you will need to guess the direction(up is long; down si short)
2. or by using only long positions: even when the market is going down, there will be small rebounds upwards, but it is a very tricky approach, you kinda need to buy a falling knife and pick small profits.

What I said, it is from a trader point of view.

An investor would use this corrections to buy and also it is perfectly fine for them to average down the entry positions.
So be very careful from the beginning if you want to be a trader or an investor! If you are a trader, you need to cut your losses short.

The worst scenario would be to enter into a position as a trader, then you see that is going against you and then you will say "oh well, no problem, I will act as an investor from now on, I will keep the position open regardless what market will do". By doing that, you just became an irresponsible trader.

[pinggoki]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

[btc_angela]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

I guess casual investors like us becomes very emotional and panic upon seeing red on our investment portfolio. So its really hard not to get disappointed in it. But the option we got is to hold on and be wise on our decision. Because we may regret if we sell today when we see tomorrow that the price has rise up. So its better to hold and not panic and of course be patient.

[Vaskiy]

This has been quite common that the price increase and decreasing. Here this time a price drop has got initiated along with the majority of the altcoins. There is nothing to get panic about the price drop happening today, causing it to reach less than $2400. Be happy and try to make others happy.

[bitcoinisbest]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

The best option for now is to hold your altcoins because if you panic and sell it now I'm assure that you'll only lose your money. It just temporarily so you don't need to panic and be patient because patient is virtue. In this situation you must be wise on what will do upon your coins.

Coins which are good and which will add value in future will gain and move ahead rest all of them will be dumped by majority of users and it will not rise in future . This is common among altcoins . Only in boom they rises rest once they fall difficult for them to again rise . Such times actually helps us to know which are coins where you need to invest and have future as well.

[goinmerry]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

During corrections, it's obvious that you are waiting for the dip to buy another more and not to look for profit since the market is on bearish.

How long you are holding now? If you trade on coins that always pump and dump then consider that now as a loss and let it idle. Make way again to recover the loss. In this way, you are treating those coins as loss eventhough in reality they are just idle. Losing money is always at stake when one choose to do altcoin trades. JHere is my example based on own experience, remember NEM when back at below 1,00 satoshis? I considered them as loss because I bought it at around 1,000 satoshis and the price just sleep around that level for almost a year. I continue my usual method to earn bitcoin so that somehow I can recover the loss. Then after a year, the price of it grows. See? All my considered loss are now gaining. That's my strategy when Im losing, I will considered them as loss an move on to recover the amount.

[klf]

Thank you for the suggestions guys. The Big lesson I learn in this trading is: Never trade while Bitcoin is under retracement or correction, or you will find your self in a negative position due to altcoin dump. Wait for lowest dip, then buy. Sell once you reach the top. Play scalping until Bitcoin correction is done!

You never know which is the lowest dip because if anyone knows that, then they will be the richest person in this world. I think once we see that alt-coins has corrected a big way and if you believe that altcoin is good then we should start buying in small quantities on a regular basis to get a best average price. Otherwise, we may just wait and watch prices going up and down but never actually buy anything.

[moviebuff777]

Hi still a newbie trader here. Just want to know. If All altcoins are down since last few weeks. How do traders maker their earnings during this bitcoin correction / retracement. All my polo coins are bought while Bitcoin is 2900usd in the past few months. Now I am HODLing like forever All my coins are in bloody red, I have negative -20%  to -30% profit. Please suggest something.

If everything is down relative to the US dollar, then you can sell for US dollars (if you think it will drop further) and let the price drop and buy back in at a lower price. If you think the price of an altcoin will drop relative to bitcoin, then you can sell for bitcoin and then buy that altcoin back after it drops.

If you bought your bitcoins at $2900 and the price is now under $2400, I suggest that you just hold for now because the price will eventually get back above $3000.