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

[WaffleMaster]

Successful traders have many techniques to limit losses. One such way is just the trading discipline to set orders to sell if it goes below say 1% or a set price they have in mind that then they would think about reevaluating their next trade. If they can make 5 good trades and 1 bad one, each with 1%, well then they'll be far ahead.

Another is dollar cost averaging if they still feel like their position is right but the market is moving against them.

[TheGOLDskull]

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

Loss is a part of a trader life and we have to accept it anyhow that its inevitable.
One of the ways to secure profits or at least minimize losses in this volatile market is to use STOP-LOSS functionality given on various exchanges.
Since crypto market dumps out of nowhere ,stop-loss make sure to get out of a position and buy the coins at lower price to break-even.

[kimjenglot]

can't  I am not a succesful trader, but I can as a bad trader tell you lots of stories how I make loss. Since most coins are now very cheap compared to 2017 I scare to trade.

it seems that the trapped buy at the end of 2017 not just me, because I also suffered losses because the current price is not also up, and it makes my capital stuck until now. and I will never sell it as long as it still makes me lose

[allohha]

can't  I am not a succesful trader, but I can as a bad trader tell you lots of stories how I make loss. Since most coins are now very cheap compared to 2017 I scare to trade.

it seems that the trapped buy at the end of 2017 not just me, because I also suffered losses because the current price is not also up, and it makes my capital stuck until now. and I will never sell it as long as it still makes me lose

It seems to me that even a professional and successful trader may not have time to react to real market changes. But nevertheless, you should not give your coins for cheap, because this will no longer be professionalism. It is better to wait out the whole situation.

[KalaiBTC]

If you are a trader you want to cut short holes, then you should invest in different areas and spread them out, while the condition you apply short-term strategy and the contrary depending on tactics. so you will make cut your loss short

I do trade in different area. I won’t wait for the lowest point to buy, I always buy several times at different price. Then sell them at different price.

Without analyzing the previous statistics and performance of an asset, it is impossible to understand its future by just looking at the present. This is what is not only significant for traders but holders too. Traders are supposed to be more active than simple investors as they must have a good idea of fluctuations. This will help them in making right decision at right time. They understand market in a much deep way.

[unusualfacts30]

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

In order to be successful at anything not just crypto, you have to have a discipline and follow the market rather than going against it as some people do. Always use stop loss function when trading short term that is the best way to make sure you don't lose too much of what you have. Follow the market not your personal reaction to it. Look at yourself as the mirror and market is the person who is looking at the mirror. Reflect what it does.

[cryptojac17]

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

In order to be successful at anything not just crypto, you have to have a discipline and follow the market rather than going against it as some people do. Always use stop loss function when trading short term that is the best way to make sure you don't lose too much of what you have. Follow the market not your personal reaction to it. Look at yourself as the mirror and market is the person who is looking at the mirror. Reflect what it does.

Monitoring is the key you should always monitor what ever the price movement because you can make decisions what coins you should cut to avoid too much losses. Discipline of your self in decision making not too much aggressive, and not be carried by emotions be vigilant and resourceful.

[kicauklaten]

I am not an expert in trade or such. However many cryptos I have for investment. in anticipation of losses then I always hold the crypto in a long time in order to avoid fluctuations. up to this point with the system then I am satisfied with the achievements that I got. for beginners might not withstand a great option because of course want to get results quickly.

[AntoCokbun]

actual losses can not be avoided, all traders must make a mistake with tipping losses. but it can be minimized by doing trade more thoroughly and not easily hooked by some wind news in circulation.

[badykvik]

For me to cut my loss, what I do is to buy when the market is very low and then hold on a long term at least a year or two. Though the market price will fall at some point but I know it will definitely rise and by the time I decide to sell, it would have multiplied and then I will be able to sell at a price higher than the initial and then make profit.

[AlenDel]

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[saganpav]

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

I have been here not so long ago, but I have already learned some rules that will facilitate successful trade. In order to reduce your losses, you need to clearly follow your investment strategy and not panic. Just be careful not to make hasty decisions!

[South Park]

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

I'm not too much of a trader but whenever you make a trade you need to have two numbers in your head, the price at which you are willing to take your profits and the price at which you will take your losses, set your trade and then forget about it for sometime, if you got your prediction right and the price went up you could readjust those numbers based on what you see on the market, but if you were wrong then sell immediately once it reaches the price at which you were going to sell.

[NorihiroName]

I do a very little number of trades, only alts>eth/alts>btc etc. I can't say about losses in trading, but sometimes I feed upset that I sold something cheaper than I could or sold just a part of my tokens(instead of all) by a good price.

[kejot]

Well, in my opinion how to cut our loss is wait again till the price going up eventhough need more times, it is better than daily short term. But that also depend on market situation. Longterm is the wise way to minimize the risk and loss. If you don't want to have loss, then don't trade in cryptocurrency, because loss is part of trading.

[mxmunk]

My approach is to continue to lose money. Then look for other investments. If both sides lose money, they can only wait. Or you can invest in other.

[mastadonballs]

I think almost traders often cut their loss after price dumping about 10%. For me, I'll not cut the loss if I'm holding a good cryptocurrency, I'll try to become a holder as long as possible till price of these cryptocurrencies rise back to price that I want to . But seem like I'll have to hold till the end of this year at least

[MGBloomz]

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

I am not yet a successful trader but I aim to be one. One thing I do so that I can prevent further losses is to have a trading plan always. I cut my loss when  it reach 10%. I don't want to wait for long and I saw some coins dip as much as 90% so to avoid further losses, I would just cut it when it reach that price. I have a risk reward ratio so even if I cut my losses, I would just wait for it to settle in a possible support and go in range and then find a good entry price. I know that others may advise not to sell because it is just unrealized loss but I don't intend to wait that long. I am not just a long term hodler.

Nice input mate, Thanks for sharing. I will try to follow your strategy as I'm also learning how to do day trading but I'm afraid to take a risk as losses will always there considering the market situation and I hope that I can master this and gain profits soon.

[Coinseeker22]

though there are strategies out there, What really works for me is the basics. Buy low and Sell high. Plus set your stop loss. It will always be wise to buy at a low value and set a specific amount where you exit, Best apply when taking your profit and when the market falls. but before it all read news and forecast about the currency your investing on.

[cryptosyss]

To reduce their losses when trading crypto currency, you can only in two ways.
1) Actively use stop loss and take profit.
2) Never deviate from your own trading strategy.