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

[CryptoAssasin]

Did you bought those when the market is on a bull run? Based on my experience, it is not advisable to grab an altcoin when it is in upward movement if you are not a day trader or just planning to hold those for long term. In your case, try to set up a stop loss point where to sell those to minimize taking huge loss.

[mriansa]

in my opinion it's still very little if just lost only $ 150, there is also a loss of more than $ 1k because he was not too patient waiting for the price back up so it can not control the patience and fear that eventually melakuakn selling assets at cheap prices and I think it is very harmful you, you should be able to better control your patience for now.

[ausbit]

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.

When you come as a trader in this world, there are some extra responsibilities and traits that fall over you. The first and most important is you must have leant best of your capability about basics of trading and bitcoins. This one single trait could be enough for your win or loss. You may be taking your investment to the sky with this and likewise can get it buried under tons of mud.

[harizen]

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

With the amount loss involved, we can considered that it's not the end of the day for you. Even you are a beginner, a $150 loss is just a piece of cake. What you gained from that loss? EXPERIENCE which is most impartant as it will be your foundation in your trading activity in the long term.

From your statement it's clear that you didn't know well the risks of trading. Not all the time you will win and even professional traders today still experiencing a loss in their trades. Sometimes it's good that we loss on the way so that next time we will be used it and will now have a good approach on our future actions.

Now about your specific problem, it will depend on your guts as no one can tell here what will happened next. If you believed (of course you need some factors why you believed) that Storm will have a nice price in near future, then hodl. If not, then minimize the loss and dump. Don't ever be dominated by your emotions as it will destroy your strategy. Goodluck.

[btcyoda]

But don't worry about the loss you made because it is better for you to hold the coins until the price starts increasing again. Now the Bitcoin price is going down and this is effecting on all other altcoins but be patient until the coin price start increasing again.

[cheeseandcrackers]

Don't stress, just hold onto it for a while.  100 sats is nothing to stress over, it'll likely increase over time.  Relax.  Fear is your biggest enemy here, don't let it win.

[Kunlejoe0]

I bet your coin that has brought you some losses will still go lower in price. The price of altcoin is not straight there will always be serious up and down movement on the price of your coin. You must decide if you are going to sell or wait for better price.

[coinplus]

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.

Very obvious you are gambling the market and trying to do the buy low and sell high kind of thing which must have put you in that position which obviously also shows that you do not have any serious strategy at hand to know how to go about your trading. You should have at least had a stop loss in play or just know what to look out for to know whether to be patient or not.

By the way, a lot of the altcoins are having a short correction, so you may just want to wait a little and probably you may end up breaking even or seeing your profit.

[margert]

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

I believe the thing you should do now is to cut losses and stop trading, it can be seen that you are a clear and concrete commercial person. It is because your failure to plan a transaction has caused you to lose so much and lose so much. In a commercial plan there is always a cutloss point to be able to limit and zone the risk and you lack that.

[Rizky Aditya]

I think what you have to do is have patience and continue with your holding, if you believe the coin has the potential to go up in the nearest future. Or maybe it will be best to sell your coins and cut the loss, while you wait by the side monitoring the price to see when it starts going up.

Whenever it starts going up you can invest back your money and then wait for it to rise very high and you can regain back what you have lost. I think selling to cut loss is the best move to take now.

[shipon01683]

in my opinion it's still very little if just lost only $ 150, there is also a loss of more than $ 1k because he was not too patient waiting for the price back up so it can not control the patience and fear that eventually melakuakn selling assets at cheap prices and I think it is very harmful you, you should be able to better control your patience for now.

yes i need so patience . thanks for advice

[shipon01683]

I think what you have to do is have patience and continue with your holding, if you believe the coin has the potential to go up in the nearest future. Or maybe it will be best to sell your coins and cut the loss, while you wait by the side monitoring the price to see when it starts going up.

Whenever it starts going up you can invest back your money and then wait for it to rise very high and you can regain back what you have lost. I think selling to cut loss is the best move to take now.

yes now i am understand. and from now i will try to my best

[barbara44]

Did you bought those when the market is on a bull run? Based on my experience, it is not advisable to grab an altcoin when it is in upward movement if you are not a day trader or just planning to hold those for long term. In your case, try to set up a stop loss point where to sell those to minimize taking huge loss.

You’re right in a way, but not really. Yes it’s not quite good to buy when the price is on a bull run, but you can still buy at the early time when the bull run is about kicking off. Just like last year when the price reached close the $20,000 price rate, those that purchased at the price rate of $15,000 were still able to make extra profit of $4000 to $5000.

So it’s all about getting in at the right time when it’s still early. Those that happened to lose their money are those that invested at the price rate of $19000.

[BarbusseH]

It is necessary to evaluate all factors influencing the price of a coin in the long term without any self-deception. If the factors estimating future coin growth outweigh the coin, do not sell the coin now.

[devollito]

The mistake usualy beginer made is over confidence after they trade and get profit. The truth is you are just lucky if you beginer and make profit. Then you need to learn more from all aspect. Dont panic its part of trading you lose some you win some. Learn how to magae the risk is better then anything in trading.

[eaglewhite80]

The price of Storm down because the price of BTC going up, actually in rate USD you not loss, in fundamental analysis Storm has massive potential to keep growth because they has amillion active user, we can see it from their mobile app that downloaded by amillion user. In technical analysis Storm has big chance to going up because this token was going to to highest level $0.2 a few month ago and could be this token will go there again, just need more patient wait for that.

Yeah, it may be a coin with a very huge potential and could do great in the long term. However, in this context where the OP is trading, I do not think holding should be his best option and he should know better to when he would be stopping loss if he really knows what he is doing in the market and I guess that would be a hard thing to do without any knowledge, which leads me to why he should be trading in the first place as that is the only reason he would be getting emotional about his trading right now.

[BartS]

Did you bought those when the market is on a bull run? Based on my experience, it is not advisable to grab an altcoin when it is in upward movement if you are not a day trader or just planning to hold those for long term. In your case, try to set up a stop loss point where to sell those to minimize taking huge loss.

This is not only true in the market of cryptocurrencies, unless you're a very experimented trader it is a huge mistake to buy anything during a bull run, just look at what happened to all of those people that bought real estate before the bubble burst in 2008, they thought that if they did not bought a house they will be priced out of the market of real estate forever, and now they're paying mortgages that are way higher than the value of their properties so no matter what they do they have lost money and the same principles applies to cryptocurrencies.

[ajaymukund]

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

In my experience, you should look for a Crypto market expert and make friends with that person. He will help you a lot about the rules of the Crypto market and how to avoid FUD or Fomo. I am a newbie and a friend who leads me and teaches me how to operate the Crypto market.
I did not panic when the market went down and I saw it as an opportunity for me to get rich.

[YED]

Don't worry you need just to hold , take this golden advice don't sell if you haven't any profit , just hold and hold and the price of storm will back .

[Kambal2000]

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

In my experience, you should look for a Crypto market expert and make friends with that person. He will help you a lot about the rules of the Crypto market and how to avoid FUD or Fomo. I am a newbie and a friend who leads me and teaches me how to operate the Crypto market.
I did not panic when the market went down and I saw it as an opportunity for me to get rich.

You need to learn first from your mistakes, there is no assurance in trading but one way that would help us out and trading at some point if we are going to discipline ourselves by not making too greedy in having a profit you should focus for at least 2-5% profit at first since you are just starting.