As a successful trader, how do you cut your loss short?

[showbiz111]

Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??

[TwSeventh]

i can not be considered as a successfull trader but i know a few thing that you need to do to cut your losses.
first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.

[aintnopassincraze]

i can not be considered as a successfull trader but i know a few thing that you need to do to cut your losses.
first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.

Disagree with using stop loss order. Too many times my stop loss has been hit and then rebounds and as an adjustment I stopped doing that. Now I manually view the markets and don't carry more than 20 coins. If you have more coins than this perhaps you should use stop loss because it will be tough to keep track. If you have less than 20 coins, I feel like you can track them manually everyday and see which ones need cutting.

[berrygood]

i can not be considered as a successfull trader but i know a few thing that you need to do to cut your losses.
first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.

Stop loss order is very risky, you can end up with a bigger loss. For me the best way to cut losses is not selling or not doing panic selling. You should know the price you will sell if things go bad.

[mahoni2100]

you need to make mistakes in order to succeed and to get rid of the lessons in this way you will take the first step towards becoming a regular investor.

[tycsols]

I think the only way out is to average out, just buy when the coin value hits the previous all time low or major support and average your investment and then it is upto you to close both positions at breakeven or wait for some profit.

[sigtmerchant]

I always set a drop level at which I cancel my orders and sell at current market price (unless apart from short term signal coin also shows min-term growth).

[adroitful_one]

I think holding long term will help cut your losses. Coins will drop down -50% or so sometimes, but eventually bounce back up. Key is to hold them for longer than a year or more. Eventually they'll get you into profit. That's when you sell. But, you can't buy into coins that aren't worth anything and expect to do well. You can't polish a turd into gold.

[Seetheummerallyeah]

Don't stop loss unless you know what you're doing and have all the risks factored in. Just earlier today, some whale dumped 21 million in BTC which filled a ton of stop losses and he rebought 60 million in BTC right after for cheap.

This caused BTC to go from $9500 to $8750 and back to $9500 in under a minute.

Read more: https://www.reddit.com/r/CryptoCurrency/comments/8fiskc/btc_1minute_candle_8750_low_9500_high_1_minute/

[sigtmerchant]

I think holding long term will help cut your losses. Coins will drop down -50% or so sometimes, but eventually bounce back up. Key is to hold them for longer than a year or more. Eventually they'll get you into profit. That's when you sell. But, you can't buy into coins that aren't worth anything and expect to do well. You can't polish a turd into gold.

This is right, but if we're talking about the amount dedicated for trading - allowing it to be stuck in positions for long term isn't always an option as you may end up with no free BTC to trade with.

[taktik]

I think holding long term will help cut your losses. Coins will drop down -50% or so sometimes, but eventually bounce back up. Key is to hold them for longer than a year or more. Eventually they'll get you into profit. That's when you sell. But, you can't buy into coins that aren't worth anything and expect to do well. You can't polish a turd into gold.

This is right, but if we're talking about the amount dedicated for trading - allowing it to be stuck in positions for long term isn't always an option as you may end up with no free BTC to trade with.

if you think that you can not cope with the crypto currency or with your losses, it is better to invest your money in a real business or where you have more experience.

[Wipro]

Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??

Why you need a advice mate. There will be positive and negative reply you may get for it. If you make your locked that you want to become as trader means you need to check the successful stories as a trader on various platform.
Then you can go with Youtube videos which can help you to learn more about the trading site and how can make more money on it.
You can always look at the potential coins which is cheap at that time mate. Hope that will give more profit in some days.

[sigtmerchant]

I think holding long term will help cut your losses. Coins will drop down -50% or so sometimes, but eventually bounce back up. Key is to hold them for longer than a year or more. Eventually they'll get you into profit. That's when you sell. But, you can't buy into coins that aren't worth anything and expect to do well. You can't polish a turd into gold.

This is right, but if we're talking about the amount dedicated for trading - allowing it to be stuck in positions for long term isn't always an option as you may end up with no free BTC to trade with.

if you think that you can not cope with the crypto currency or with your losses, it is better to invest your money in a real business or where you have more experience.

Try to read my message again. Than again, until you fully understand it. This is not about losses or gains, this is about my trading strategy. I use a fixed deposit amount on exchanges which I use for trades and withdraw all profits.

[rayk]

I do not use stop loss, it depends on the market how I cut my losses, if I think it will decrease more, I will sell it to buy at lower price, I know that is not always good way but it depends on the situation.

[jmlona]

My strategy is not to consider what price I bought a coin at, because that is in the past and does not matter. I simply always ask myself if it's a good time to sell or not, sometimes that means selling at a loss, often times at a profit. The price you paid for a coin is irrelevant.

[arjuna BTC]

Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??

a technical analysis can show you, the point when you should cut your loss
basicly every traders must know about technical analysis,
and this will reduce the risk on their trading activity

[Yuuto]

Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??

You obviously don't want to end up in a situation where you have to close a position while still in a loss, to begin with.

To me, when you're trading altcoins you want to be extremely disciplined. The altcoin market itself is ever volatile, however, as a trader you need to have clear goals in mind before you even open a new position, or buy a new coin/ICO.

Have a clear sell target in mind where you will sell half of your stash, and another target where you will sell all of your stash.

Same for stop loss, set a target where you will sell half of your position to avoid further losses, and another one where you will sell off all of your position to cut losses. And all of this should be done before you even buy into anything.

But in this current market, I think that holding onto your coins may actually be more profitable in the long run, since crypto is still growing. Don't set the stop loss targets too high, otherwise you'll end up losing money unnecessarily.

[rysea2]

only patience will be able to change everything, for example if you suffer losses because prices arrive pity fall then keep holding until the price recover or you can sell your coins and then buy other coins that have a higher potential increase to overcome the previous losses.

[Wallflower28]

https://bitcointalk.org/index.php?topic=2983108.msg30660106#msg30660106
I believe that this thread will help you if you want to cut your loss in trading.
There are many ways to stop your loss in trading, one of this is what we called the stop-loss order but I don't think it is helpful anytime specialy if we can manage all of our coins. We can also hold our coins and wait until the price will bounce back.

[modmalaney]

sell when the circumstances have not been a huge loss and hold for the long term. both of these solutions is the way that it could be done however with the respective risks as well. If selling is certainly a loss but not a lot. If hold necessarily takes time to recover.