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

[sunsilk]

I don't usually cut my losses if it's less than 15% but for the meantime I don't do it for the sake of effort.

When I'm on loss, I chose not to do anything with it and I prefer just to keep on holding no matter how big the loss is.

My investments on cryptocurrency aren't the only money that I need to survive so I'm letting it sit for awhile and waiting until it recovers well.

[GermanGiant]

When in a losing position, we will often rationalize that we still haven’t taken the loss as long as we haven’t sold while hoping the stock will come back. So very important to cut your losses while they’re still small because more difficult to recoup your money after a loss. Well given the fact that even the best of the best traders usually have a long-term win and loss ratio of 50:50.

[strtype]

I guess when you mention successful trader , I should have moved on, but I lurk in here just to see what others are sharing. Personally, I am far from successful trader, I get a good coin and then get a horrible coin which makes me lose my portfolio hard. So I am just doing pretty bad.

[bitcoinzen]

minimizing the losses is the first step towards the success of a successful trader they should sell high and buy low they should execute this step with at most control of emotions

[YCryptos]

The main thing when trading in the crypto-currency market is take profit and stop loss. I think that this is the most important thing to limit your losses in trading.

[poncik]

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

If I see that the price of a coin which I am holding is dropping, I don't panic and just wait. And also, if you want to stay relaxed, you should always trade with the amounts which can not give you a big loss.

[Primal6666]

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

Do not panic sell, hold, price will go up sooner or later. Do not buy all time high. Choose good projects, coins. And you will not need to cut losses. If price goes lower than your predicts, then you can buy same amount at bottom, to reduce loss.

[bitsdubai]

It is important to remain calm and not give in to emotions in the case of a losing trade. It is necessary to fix the result. a failed transaction, analyze the reasons that led to such a result. And in the future, such mistakes are not allowed. It is best to stick to your strategy, comply with money management, and enter the market on time. in no case should you try to recoup the moment .

[cahkalem]

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

a good trader will predict the market Thoroughly, this mean all possibilities that will happend with the markets,,
so, when the price is going down, a good traders already know when they must cut their loss,,
you can add an indicators or use fibonacci to predict the market if you didn't know yet, just learn more about that all,,
so, you will have a view for all possibilities

[EXtremeAEX]

Everything depends on the coin and the situation on the market. With different market conditions and different coins, the actions will be different. So, for example, if you have an ether, which you bought for $ 1000, and now it costs $ 500, you can proceed as follows:
1. Do nothing. The coin is excellent and later it will grow in price.
2. If there was a need to sell it, say $ 600, then, as soon as the price falls below this mark, you need to buy ether several parts. Let's admit on 550, 500, 450, 400 $ and so on. The largest purchase should be at the lowest possible level. And in order to make it easier to predict the price, you need to know the technical analysis and be aware of the main news in the world of crypto currencies. And when the price grows, then sell at the mark you need. This option is risky, but there are situations when it is possible in this way to reduce losses. In general, I use this option for profit, but sometimes they can be used for other purposes.
3. If the loss has taken place, then it can be minimized by selling other coins that are now profitable.

[pehatas]

First of all, to reduce your losses, you should always use "take profit" and "stop loss". Secondly, never give in to emotions that can lead to bad results.

[losiva]

As for me I normally exist the market when the market is making some profit and I normally enters the market when the market is dipping, this will allow me to get some good tokens at a cheaper rate, and I will wait for the next increase, i am more like a short term trader.

[Vampirepro]

Don't overtrade, don't trade on margin. The latter is gambling because, despite the claims of some people, those extreme moves up and down are almost unpredictable, and on margin, you're likely facing drastic consequences.

That's only true for people who do not know how to properly margin trade thro. If they can't cover their positions in the event of black swan events, then they shouldn't be trading at all!

[molla_corda]

The first rule of a trader (who has learned at least something) is to divide his financial portfolio. In this case, only part is lost, but not all. And not greedy.

[baduday1991]

The main thing when trading in the crypto-currency market is take profit and stop loss. I think that this is the most important thing to limit your losses in trading.

Yes you are really right with that but ofcourse it depends on your plan you could go with 8% or 10% stop loss just to make sure you can minimize the risk. For me those stop loss are really tight. Goodluck everyone.

[pixelvault]

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.

your stop loss is to tight. spread it out maybe 10-20% below

[bitekoin]

I don't usually cut my losses if it's less than 15% but for the meantime I don't do it for the sake of effort.

When I'm on loss, I chose not to do anything with it and I prefer just to keep on holding no matter how big the loss is.

My investments on cryptocurrency aren't the only money that I need to survive so I'm letting it sit for awhile and waiting until it recovers well.

Remember that the thing that makes crypto attractive is the thing that might hurt it the most: lack of a central authority that can be trusted, like a bank.
But, keep your chin up: what doesn't kill you makes you stronger, and learn from this experience to come out a stronger, more diligent investor.
For instance, investing with solid technologies and team and being skeptic of *every* claim that projects make.
The positive thing is that there are so many good and promising projects out there. If you are willing to weather the storms then placing your trust in a solid product like Gifts, Rentberry, and even the upcoming Eterbase you will sleep easy and have financed a great product with growth potential.

[Gururapyco]

You will never predict what and when will happen with the price, what you can do however is to plan your strategy so that you know when to sell, like set yourself some earning goals and alwayskeep on to this. And try to average your buying price by buying the dips.

[eddie13]

Sell immediately when it doesn't go as planned..

[aragom]

I don't usually cut my losses if it's less than 15% but for the meantime I don't do it for the sake of effort.

When I'm on loss, I chose not to do anything with it and I prefer just to keep on holding no matter how big the loss is.

My investments on cryptocurrency aren't the only money that I need to survive so I'm letting it sit for awhile and waiting until it recovers well.

as a succesful trader, i dont entere any coin for short. i am long trader and i am holding since dec 2017. i have a loss of 85% my invest in 6 months