Today $150 loss from storm coin in binance , now what i will do? please help

[VitKoyn]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.

When you do trading, you should always expect every possible scenarios because not every time you trade you can easily make profit and it is normal to lose as cryptocurrencies are not stable and the price is not predictable. This is why you should always have a plan/strategy before you trade, like when will you take your profit or when will you cut your loss if the market drops. But for me, you shouldn't be worried about this 100 satoshi dropped in price it is not that huge, because it can be easily recover within a day or two. I don't normally recommend what to do in this, but in this kind of situation it is easy to make a decision, just hold it until it recovers. And lastly, if you will trade with emotion, then better to just stop what you are doing.

[mrproblem]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Now it is below 585 sats.
so if you have some btc you can buy more .
For instance you bought 1000 storm with 707 and now you can buy 1000 more from 585
and then your average is now 646. so you can put your 2000 to 649 to sell it without any loss or more to have some small profit

[St4yInTh3D4rk]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Even the professional and experienced traders don't have the success rate of 100$ so you no need to worry about for that 100 satoshi loss,you have two options now either hold it until the price recover for your profits or just sell that coin and invest on other coin which is currently bumping then you can make some quick money which can help to equalize that loss from other coin.

[eloqant]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Both highs and lows are part of the trading. You will experience this moment (or I would say "feeling") lots of times in the future. There are two ways to approach it. Either set up a stop loss, for example sell if your current coin holding decreases for 10%. Or sit the loss out, just wait until it goes up again. The latter requires more fundamental knowledge about the coin you trade.

[Seeker#9]

If the coin you bought has the potential for future growth then hold it and wait for its price to bounce back. Falling prices is a part of every cryptocurrency and this will followed by price uptrend later. According to some report, storm has the potential for profitable long term earningso don't lose hope if its price goes down because it is only temporary.

[cashberycoin.com]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Don't be so afraid!
All traders lost their deposits first time!
Now you will be more carefully, but if you really want to trade, you can't stop right now

[Nerman]

You mentioned that you are new to trading and to be honest i do not know if that coin is actually good. Anyway if i were you i will cut my losses and seek other coins to buy. It seems that you are afraid of losing more and you might sell that coin when it hit bottom which will lead to losing more money.

[riaruhs09]

it all depends on you, if you think the storm has good potential for long term then you should hold the storm. but if it does not have good potential then you should sell the storm and reinvest in a more potent coin. let you suffer losses because a little loss is a common thing in trading.

[Jake2134]

For me and others loosing is very normal. because without loosing you can't say that you've become a trader and don't feel bad if you loose it's just part of the learning process.

[bozo333]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

All the coins are little down in current scenario so you should hold for one more week again this will raise but if you are a beginner don't try the unknown altcoins because this is not a perfect platform in Beginners. In future you must check the future possibilities of the coin then invest to trading otherwise you are not survive in trading platform.

[nl247]

When you buy altcon, you should know at what price you will sell. If you don't know it, don't buy it.

Simple as ABC. Asides that, before entering a market, there are three things he should have put in mind first. When to buy, when to sell and when to stop loss or exit the market quickly if things is about turning awry. However, for someone with little experience and knowledge about trading, that would be difficult decision to make and in that case, I would advice him to stop loss and go back to see how he can do it better next time by studying.

[darewaller]

Coins go up and down all the time. Never heard of storm so can't give any advice there. Take a look at the trading volumes and compare the number of buyers and sellers. If buy numbers are low then get out and switch to another coin. Also check the road map to see if there is anything that will raise the demand in the near future

That is just one basic fact and most times, some people think they are buying low when a market is correcting and then they see further low only to get confused and not know what to do.

Best thing is to always be very careful in this market and to always have a strategy in place so as not to end up being a victim of losses which I am sure he is getting emotional all about and the last thing any trader want to do is get emotional at times like this which is something that is obvious for someone without proper trading knowledge.

[joshy23]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Don't be so afraid!
All traders lost their deposits first time!
Now you will be more carefully, but if you really want to trade, you can't stop right now

If you take time reading what OP's said its not his first time, he already dealing with trade though he's a beginner but he already manage to earn from his trading venture I think what he's afraid right now is losing he's investment due to this current dumped of the coin that he's holding, for OP better to stay calm and observant don't react too fast, check first the project if there's ongoing progress or updates then decide if you can wait or you need to cut your loses and start all over again.

[OMGyasuo]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

You can see whether the amount of money invested in the Storm is reduced or not. If it drops too much I think you should take the losses and sell the coins you have to invest in another altcoin.

[TTITA]

When a market correction happens when the price starts to fall, it may take up to a week for market recovery. I think a good decision for you right now is to keep your coin storm, wait until a week later, then make a decision after.

[beerlover]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

This is what called as panic attack! What you suffering from is the situation which you must avoid now to stop your loss. I mean you might just think that you should sell all the storms that you have got but its wrong. You should not go that way and must hold your coins. I would suggest you to wait at least for weeks or so and thus you will see the storm rising too. I mean most of the coins are just getting little glitches and nothing else. 100 satoshi is not a big deal so you dont have to worry about it.

that is one thing every noob trader with some little knowledge about trading or no knowledge at all and no strategy will always end up experiencing. He is making a huge mistake right now by trying to trade the market without always having an exit strategy in play with even some little loss.

He should relax a bit, if the market has broken a particular support, then he should try to break even on that support which would have turned resistance and may likely be tested again, or he can just stop loss now and buy back lower, or just simply hold till eternity no matter what which for a trader would be the last option.

[emberbekas]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Frankly, as a beginner trader, it will better not to watch the price movement regularly. After you make a buy order, I suggest you to make a sell order at higher price which will satisfy you. Panic will mostly occur to newbie if they keep watching the price movement and it can change the whole plan.

[shipon01683]

I`m not a senior tradeer, but I would suggest to not panic, and be patient. There is always a chance that price will again go up!

Ok thanks for suggetion

[Quidat]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.


Thanks

Frankly, as a beginner trader, it will better not to watch the price movement regularly. After you make a buy order, I suggest you to make a sell order at higher price which will satisfy you. Panic will mostly occur to newbie if they keep watching the price movement and it can change the whole plan.

I agree with this thing where when i was still a newbie seeing the price actively would really be a stressful thing which would result into a mistake when you do such habit.Losing money cant really be avoided because this is really very a unpredictable market which each decision would really even be a losing or wining trade.Just remember on learning up on the things when you commit mistakes so that on next time you would really able to be aware.

[el kaka22]

i am beginner trader in binance. many  time i make profite from binance. i trade basicly iost, storm, ncash and some other small rate coin. but 2 days ago i buy storm coin 0.00000707 this rate. and now storm price 0.00000602. per coin 100 shatoshi loss. now i am so afraid. now i see many coin going dump. now what i will do? now i will do sell my storm or i will do hold storm. i request all senior trader  please help my subject.
Thanks

Are you referring to this coin? If you want, you can cut losses now by selling but that won't do you any good. You should continue holding it, IMO storm still have potential in it for growth(if you are referring to the coin in the link), Don't panic sell just yet. It is normal that a coin dumps once in a while, so get used to it if you are gonna continue trading.You can just sell it instantly though the moment you got decent profit out of it to relieve your fear.

I am sure his idea was not to hold for the long term since he mentioned he has been trying to trade the market for a while and that simply means he has just been lucky in the uptrend which makes it pretty easy for anyone to trade in and now during correction, he must have ended up buying while thinking it has hit the low part.

Best is to just go back to the books and learn rather than getting emotional and asking us questions like this because this situation will repeat itself again and not knowing what to do in every situation that is not going as planned is pretty bad.