how control my emotion??

[hridoyb]

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ?

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[RoommateAgreement]

sometimes a loss is better than a big loss. in technical terms use a stop loss order which is practically doing this for you. it triggers when price falls lower than your "tolerance" so you automatically dump the coin and prevent further losses.
it doesn't have to be a stop loss and automatic either. you can do it manually too. you just have to plan for these things ahead of time. for example you buy ETH at 0.07BTC and decide that you don't want to lose more than 5% of your money so you dump it as soon as ETH got dumped hard down to 0.0665BTC and prevent losing more money when it was really dumped hard down to 0.046BTC and then buy back at the bottom.

[player514]

sometimes a loss is better than a big loss. in technical terms use a stop loss order which is practically doing this for you. it triggers when price falls lower than your "tolerance" so you automatically dump the coin and prevent further losses.
it doesn't have to be a stop loss and automatic either. you can do it manually too. you just have to plan for these things ahead of time. for example you buy ETH at 0.07BTC and decide that you don't want to lose more than 5% of your money so you dump it as soon as ETH got dumped hard down to 0.0665BTC and prevent losing more money when it was really dumped hard down to 0.046BTC and then buy back at the bottom.

This is good advice. OP, if you're reading this, do take this advice in hand.

Also, you shouldn't necessarily panic -- altcoins and everything in general has a chance to go back up in the future unless it's dropping very very low. Another thing you can do is make sure you don't put all of your money into investments. Make sure you keep some of it out so that you can keep investing even if you don't do well on your current investments.

[h0lybyte]

Yeah the advice above has all the tips you should take in consideration while getting involved in trading.
Trading in cryptocurrency always require patience because we know cryptocirrencies are rendering volatility.
In order to maintain profits, It is necessary to read and understand all aspects of trading before getting into it.

[quochuan29]

Use stop lost . I can't control your emotion.

[daKotajayl@12]

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ?

hello friend you are new to this trading so first you have to learn few things about trading. because once enter in trading we never take our step back. so you are choosen flatform is good for earning profit. and you are invested in alt coins that idea also amazing but your sadness is not good. alt coins never to go down once it gone come back and growing up. so nothing to worry about that. in trading these all are common. you should keep your mind strong. in trading loss profit common things so don't feel sad about this. next don't sell your alt coins next it may grows up.

[Pursuer]

using stop loss is a good suggestion but unfortunately most of the exchanges out there don't have this option for you to use and some of them that have it don't have a proper option with enough flexibility for you to be satisfied with it.

but the good news is that you can always use a bot if you find it hard to manage your trades and using stop losses and also if you are trading large enough and making good amount of money, it would be worth it to find a bot and set it up.

[MissionPhailed]

Also, realize that you're now facing a potential loss at this moment. If you proceed to sell, you'll have an actual loss. Btw, most alts have lost in the past month or so due to a major bullrun of Bitcoin. Chances are the majority of alts will recover somewhat as the inevitable sell-off after the current peak of BTC occurs. In the (near) future you could try to maintain some sort of balance (50/50?) between BTC and alts. Makes you less prone to the several fluctuations of the altcoin-market!

[shursight]

It has been replied a lot of times in the forum, why dont you try to search a little bit more in this board? there is a lot of information and threads like this that are probably going to help you with this. If i am not wrong, there is a book that you can download for free from an user who create a guide of how to control your emotions while you are trading.
Just search a little bit more.. it will help you in a future when you want to know something more, so you would not have to create another useless thread.

[mk4]

Relax, get a pack of beer, some pizza, and watch a movie or something. Altcoins are just in the process of going back up soon in my opinion. You just need a little bit of patience. Remember. This is an investment. Most of the time things won't go good for you in months. The winners are going to be the people who held their coins the longest.

Also, use stop losses. Most if not all exchanges have this feature. How to set Stop Losses on Bittrex, cleared up FOR GOOD!

[gabbie2010]

Well it is often said always trade with the amount of money you can afford to lose, if it is just 10% of your total investment then there is nothing to fear but investing your total fund in trading and the trade was not doing well or  going against you definitely emotions will set-in.
Anyway just relax, the trade may be profit in few days to come.

[CyberKuro]

Trading is a risky business, whenever you jump in, be prepare to lose.
I consider trading as a gambling activity, you put money on the line and it may gone for good, right? Which many traders have experienced it.
In this case, if the coins are shitcoins, I prefer to sell in order to cut loss. But, if it is a famous or potential coin, I prefer to keep it until the best time to sell it.
How to control emotion? Treat trading as a risky business and be ready to lose at anytime, put some money that you can afford to lose.

[no0dlepunk]

Just follow the logic of buying low and selling high. If you have a bag of altcoins and suddenly the price went down, do not sell in panic because it will bounce eventually. Now, regarding how to control your emotions - that is something that cannot be taught to you by anybody else rather than yourself... but I have a tip, why don't you purchase GUNBOT from gunthar and let the bot do the trading for you.

[Mpamaegbu]

sometimes a loss is better than a big loss. in technical terms use a stop loss order which is practically doing this for you. it triggers when price falls lower than your "tolerance" so you automatically dump the coin and prevent further losses.
it doesn't have to be a stop loss and automatic either. you can do it manually too. you just have to plan for these things ahead of time. for example you buy ETH at 0.07BTC and decide that you don't want to lose more than 5% of your money so you dump it as soon as ETH got dumped hard down to 0.0665BTC and prevent losing more money when it was really dumped hard down to 0.046BTC and then buy back at the bottom.

While you made an undeniably good suggestion, your last sentence is a difficult call. It isn't really easy knowing when price hits a bottom. We only get to know this from hindsight and after the event has passed. Sometimes, what you think should be Support turns Resistance.

Well, OP, emotional trading is the major Devil every trader battles with. It is this that sets a professional apart from an amateur. Get a grip on yourself. Determine your loss and profit before getting into a trade and then relax. Always remember that trading is about profit or loss and that you are bound to get one once you trigger a trade.

[SushiMonster]

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ?

Just take a deep breath and try to relax, don't get too emotional and don't stress out.
Trading is always like this. Its very unpredictable and everytime we trade we are making a huge risk.
I feel your situation right now.
All my alt coins right now are so low and I'm all losses.
But I just keep on holding my bitcoins and try to forget about it in a few months.
Eventually the price of the altcoins will go higher than today.

[Milonsa]

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ?

everyday increase and decrease alt coin prices.so tell you need waiting for increase her price. if you want to trade first you find good coin that perfect for long run.

[Fuhre]

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ?

Relax buddy, because basically if there is a decrease then there will be a rise later, you should hold it so it will not disappear, never waver or panic selling because it's an emotion. I also hold some altcoin and the price goes down continuously, but I do not sell it because I'm sure the price will return to normal and go up. it just takes time, we never know when the price can go back up.

[affandi]

using stop loss is a good suggestion but unfortunately most of the exchanges out there don't have this option for you to use and some of them that have it don't have a proper option with enough flexibility for you to be satisfied with it.

but the good news is that you can always use a bot if you find it hard to manage your trades and using stop losses and also if you are trading large enough and making good amount of money, it would be worth it to find a bot and set it up.

Good advice, if we can not control emotions better use bot to help us in trading, because "stop loss" needs to be done to anticipate. But I personally prefer to trade by using three stages: first purchase order 20%, second 30%, third 50% (count 100% of total capital we have)

[tundexijim]

Use stop loss when necessary and don't be too greedy.

[Wind_FURY]

I am starting trading some month ago.Bought some alta coin but now all alta coin are down and i donot understad what can i do?I get a big lose if i sell this.So how control my mind ?

Relax buddy, because basically if there is a decrease then there will be a rise later, you should hold it so it will not disappear, never waver or panic selling because it's an emotion. I also hold some altcoin and the price goes down continuously, but I do not sell it because I'm sure the price will return to normal and go up. it just takes time, we never know when the price can go back up.

This is now the only advice applicable for the OP. I also suggest not to keep looking at the price and forget about Altacoin for now. You are what we call a "bag holder".

Why did you invest in Altacoin in the first place?