How to overcome the fear of holding?

[squatz1]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

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[goodoboy]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

Hello squatz1,

Been there many times!! I am planning to start intra-day trading the crypto markets once I figure out a safe and reliable broker to use with MT4.

I understand the feeling. You take a take trade, making money, now should I exit, but what if it keep going, what if turn around on me, what about the next trade, i will feel like an idot if I miss this trade.

Questions:

1. What is your rule for profit taking?

2. Why is that your rule for profit taking? Do you have any statistically or proven evidence for this profit taking rule?

3. If you have evidence that taking profit early will overall keeping you making money consistently, why be upset when take profit? For example, if I had some type of proof from a back test or some guru trader saying "goodoboy, every trade you take 100 pts and you will make $40K in a year" i will definitely take 100 pts per trade.

You see what I mean. It's not about 1 or 2 trade, it's about consistently doing what's in your rule book for 1000 trades tha will earn you $XX,XXX per year. The rule book can be a gut feeling, dog whisper, paid service, etc. Your job is a trader is to be an unemotional money maker.

I hope that make sense.

[Twinscoin2017]

Well holding is just like saving maybe yo overcome fear of holding is quite different from investing saving is really nothing to be fear about because it has a big possibility that we  can earn through holding specially in bitcoin .maybe people who fear in holding had doesnt much experience on crypto curency and  maybe they dont have enoughf experience on it .

[LeGaulois]

Simply forget about your coins. Stop to read any news related and stop to check the price daily or 2-3 times a day. You will have less stress and so less fear of your coins. Do it at least 1 month and you will see. 1 month is nothing in a life. After a month just do your usual stuff once a week, check the rate, read some news, ect, close everything and keep rolling the life.

[aardvark15]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

One way to avoid this problem is hold half of your Bitcoins and altcoins long term and don’t sell them at all for 5 years. Then use the other half for trading.

One thing I have done when trading is when you sell, don’t sell all at once. Place a sell order for part of your investment and then wait to see what happens before you make a decision on the rest. I do the same for buying. I buy with part of my fiat, then wait to see if the price drops before buying more. This way you leave yourself some leverage to react to the next market move.

[JungleOnion]

What really helps me is to understand the length of the cycle I got in. Imagine A cycle having a pump and dump just to make it simple. I get in the dump and keeps dumping on me, I would try to understand a larger time frame because usually what would freak me out would be a smaller time frame because of things not looking good for the short term. But then I realise that there has to be lots of ups and downs within the cycle to make that big ONE UP and ONE DOWN movement that defines the cycle.

So always try to understand the bigger move the market is trying to make because that will define if it's reasonable for you to exit your position considering the potential losses or profits you have. Lots of time, a lot of FUD is needed to get FOMO later on, and viceversa. So if technically you feel obscured, question yourself about the fundamentals of the coin and the argument coming from both sides (technicals and fundamentals) would confirm you the best decision to take with your position.

[richminded]

If you hold bitcoin and planning sold in after years then there’s no reason to be afraid because we all know bitcoin is powerful and it will surely soaring higher in the coming years. If you don’t have much knowledge on trading then you should try to hold so you can secure profit in the future.

[goaldigger]

You already know the answer. Before panic selling, just keep in mind what youve experienced on your past transactions. If you make your mindset focusing on how big the interest your coins will be on future if youre not going to sell it, im sure you can controll yourself and be rewarded when the price increases. Always be patient

[peter0425]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

Some traders have this so called exit strategy as well, If the goals has been reached in their exit strategy then they sold of all if not some of their coins. Others I think will just simply bought huge amounts and then will will just let it sit on their hardware wallet like 5 years or so. Those are investors who are willing to wait and they can afford to wait that long and never bother to check the price. But when the 5 years is up, they revisit then sold entirely and realizing their profits in years.

[DaMut]

there're no way you can overcome it if you can not handle your emotion,
the only thing that i know is by preventing it,
what i mean is whenever your portfolio goes down,that time you need to take vacation or stop doing trading.
if you can not contol your emotion,you will never can overcome it.
just put your your orders and then leave it alone.
but before doing all of this make sure to make your strategy,
where is your sell order and in what level it would be,do not use this strategy to place your order based on your speculation not your strategy.
no matter how good we are in trading daily,the profit that we got will never can surpass the holders.

[katiecbell]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

Price of bitcoin is not as such predictable therefore I do not think that one can 100% over the fear of holding bitcoin. In fact we can expect anything from bitcoin. Bitcoin price can drop too much in a single day and can also rise more than 1000$ in few hours.

Therefore the element of fear from holding bitcoin cannot separate. Still have good experience in trading we can handle the situations in a good way and can minimize the risk of losing money.

[cluit]

Simply forget about your coins. Stop to read any news related and stop to check the price daily or 2-3 times a day. You will have less stress and so less fear of your coins. Do it at least 1 month and you will see. 1 month is nothing in a life. After a month just do your usual stuff once a week, check the rate, read some news, ect, close everything and keep rolling the life.

I do not think that this is the right solution for that. How can person ignore his investment and specially if he is a short term trader, he need to check the price from time to time and take a right decision in a right time. I think best option can be to invest such amount of money that we can easily bare to lose. Through this way I think we can minimize the fear of holding bitcoin or any other altocin.

[TheCoinFinder]

First you should remember that trading with cryptocurrency isn't something that will make you rich over night.
If you want good profits out of your investment, you need to learn how to deal with ups and downs.
Bitcoin is a high volatility currency, you must have patience and wait longer for higher profits.

[Slow death]

if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

you could also lose 10-50x, see: December last year many altcoins had a very cheap price, lisk, neo, waves, siacoin, eth, monero ... if you had invested in December and if you hold until July this year, you would have made big profits but if you had bought in July, you would be crying because you lost a lot of money today.

in July many people bought siacoin for 600 satoshi to 700 satoshi, there is a guy who according to him, he invested 2 btc in siacoin when the price of siacoin was 700 satoshi, see now the price of siacoin is 52 satoshi

Neo was 0.006 btc and many people bought at this price and now see that the price of neo is struggling to reach 0.005 btc

you do not know when low is low and when high is high, set a percentage of profit and loss.

[bitgolden]

If you hold bitcoin and planning sold in after years then there’s no reason to be afraid because we all know bitcoin is powerful and it will surely soaring higher in the coming years. If you don’t have much knowledge on trading then you should try to hold so you can secure profit in the future.

Although bitcoin investment is a good investment and we do not need to fear about our investment in bitcoin. Although the price can come down a little but for not a long time.

Because still bitcoin has too much potential and it is expected that the price of bitcoin is going to cross 10000 before the ending of 2017, therefore still we have some good opportunities to invest money in bitcoin and get some good profit and there is no need to worry about investment in bitcoin.

[wantjokull]

Don’t know how you fall for that one. I mean you know every well that bitcoin will rise in the future then why one should go for selling out of the fake fear that occurs in our body. Im holding more than 6 coins and they have been up and down many times but I will just sip my cup of coffee every other morning looking at the dancing like a wave. Its no fear at all, just have faith in them and think technically that they are just making some upgrades or may be the company is on holiday, I don’t know but I just think something thoughtful which makes it easy to think positive and let the wealth grow automatically. Thats the way one should always work.

[no0dlepunk]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

Tell me, you had sold your bitcoins when the BCH scammed our community, hadn't you? Well, you are not alone. I'll be honest with you, dude - I was holding my bitcoins for the longest time and I had overcome all the previous FUDs - but Roger Ver and McAfee's FUD hit me so damn hard that I had lost my faith in bitcoin. So to your question, my answer is "don't watch the graph, don't read the news, don't browse on twitter". If you want to HODL big time, then just buy your coin, keep it intact, and forget about it. I guess that's the biggest lesson that I had learned the HARDEST way.

By the way, I really wanna give McAfee and Roger Ver an all time high middle finger. That's all a poor man like me can do.

[terrific]

I've always been one who sells to earlier, either to minimize my losses or to realize my earnings ASAP and leave. I've seen in most of my investments, if not all that if I would've just left the coins there they would've been worth 10-50x what I put in before. This is upsetting as a person and trader, as I see how much money I'm missing out on.

How do you traders do it, hold and hold and hold. Waiting around for more and more money?

I've been there and it really makes me feel worst if I'm riding those hype makers and just suddenly sold the bitcoins that I hold out of the thinking that it won't go up again. I know it's really upsetting and makes you feel bad but charge to experience. How many times do you think you've done that? In my case, I did that for so many times and by mid year of this year when I saw potential growth of bitcoin, what I do now is I just keep on holding and holding.

[martin1221]

When you are holding a coin, try to control your emotions,because it is the main reason why we sell early, and for addition, make sure you are following that website of that coin, or their telegram to have some update to that coin, it is very important in trading

[jahziellazaro]

Best before long-term investment you should consider carefully and create your stance, if you do not do so you can sell all your assets and you certainly will not make much profit.