Panic loss me 10800$ , so patient is the key

[MNDan]

 

Dear Members
Recently I faced a bad luck. here the story
I got IOTX from GATE .io 28th of may 196000 @ .00004600 ETH.  Then after one or two hour i sold it to @ .00004800.
After 3 days means June 1st , one IOTX went to .00014ETH.  
if i sell June 1st  196000 * .00014 *590 = 16189$
Investment is = 5300$
so i have lost = 10800$
so in this story if i could wait 3 days , i have profit of 10000 USD. so in this case i am saying please be patient. wait wait. good coins always give a good reward to you

Wow! This is a costly lesson that you experienced, usually for me my experience cost me a bit less amount of money, but what is rich for me is poor for somebody else, and the opposite what I consider as poor can be as rich for somebody else.

[ethereumhunter]

and if you still cannot manage your emotion, you cannot make a profit at all because emotion is take the important part of the trading. sometimes, we can see the price is up to high and we want bigger profit and it makes us still hold the coins. but in the next few hours, the situations change because the price suddenly drops and you cannot make any profit and even you are getting the loss. having patience is the key in the trading and you need to have this if you want to be a successful trader.

[xdtiagonzhar]

as investors say the best lesson that the financial market can teach you is when you lose your money at this point you realize whether you should do it or not. if after losing money you start to study literature and try to get your money back using new knowledge, then you can become a good investor in the future

[chenhaonan]

This is something that every investor will experience. You don't have to blame yourself. When you're still a novice, making mistakes is inevitable. You just need to learn from your failures. I believe the next time you will do it better.

[ElenaN]

A sad story, but it proves once again that you need to keep coins, a good crypt will always grow in value!

[Wall_Streeet]

good coins have a chance of good growth, even if they fall in the short term. this is an important rule of the investor

[IlfarIldarovich]

it is very hard to lose money when you invest and cryptocurrency. but the financial market is too unstable to always be sure only of profit. indeed, you need to be patient to wait and wait for the price recovery.

[lavapits]

if you have too much patience with some projects you can lose everything though. Don't let the patience blind you, sometimes it is good to sell early than to regret your decision later. The fact is that you always need to follow the market in order to make a smart decision.

[giannigre]

This is the life,cryptos pump and dump , you must accept it!
 

[volcanofetusK]

Dear Members


Recently I faced a bad luck. here the story

I got IOTX from GATE .io 28th of may 196000 @ .00004600 ETH.  Then after one or two hour i sold it to @ .00004800.

After 3 days means June 1st , one IOTX went to .00014ETH. 

if i sell June 1st  196000 * .00014 *590 = 16189$
Investment is = 5300$
so i have lost = 10800$

so in this story if i could wait 3 days , i have profit of 10000 USD. so in this case i am saying please be patient. wait wait. good coins always give a good reward to you

I totally agree with you, I also understand your regret, but what is past should not be remembered, in my opinion, you should choose the best coin and only sell it when the target enough It's high up too because you're done, it's better to swallow than to shed tears

[wayaneka]

In this bearish trend, i think more than 50% of trader is in loss, and trader who can recover that loss is trader who patient wait for up trend. The market is not all the times high and also not all the times on bearish, this two different way will change and that mean downtrend will change to uptrend later, wait patient and learn from mistake is only this we can do now to recover loss.

[Barbarian]

and if you still cannot manage your emotion, you cannot make a profit at all because emotion is take the important part of the trading. sometimes, we can see the price is up to high and we want bigger profit and it makes us still hold the coins. but in the next few hours, the situations change because the price suddenly drops and you cannot make any profit and even you are getting the loss. having patience is the key in the trading and you need to have this if you want to be a successful trader.

Many people focus too much on the technical aspect of trading and while that is without a doubt important very few books talk about the management of your emotions, and if you are incapable of doing that then it does not matter what strategy you use you will lose your money to the market.

[arunakiran]

Always keep patience is also danger. Because in bearish trend we cannot analyze how much the market falls. Especially in this kind of situation better use stop loss. It may avoid some risk.

[SmartHorek]

yeah, i already know about it. For newbies i'm suggesting to be really patient no matter what. It'll pay off, just don't panic in situations like that

[ethereumhunter]

and if you still cannot manage your emotion, you cannot make a profit at all because emotion is take the important part of the trading. sometimes, we can see the price is up to high and we want bigger profit and it makes us still hold the coins. but in the next few hours, the situations change because the price suddenly drops and you cannot make any profit and even you are getting the loss. having patience is the key in the trading and you need to have this if you want to be a successful trader.

Many people focus too much on the technical aspect of trading and while that is without a doubt important very few books talk about the management of your emotions, and if you are incapable of doing that then it does not matter what strategy you use you will lose your money to the market.

I think reading a book about management of your emotions will better to know how to control your emotion and the best thing that we can do is keep practice to control the emotion. still, controlling the emotion is the one things that really difficult and it needs a time before we can easily to stay calm. maybe one of the ways to control the emotion is by leaving the market for a while and don't think about the trading and come back to the market if we are not in high tension.

[Emilyp]

if you have too much patience with some projects you can lose everything though. Don't let the patience blind you, sometimes it is good to sell early than to regret your decision later. The fact is that you always need to follow the market in order to make a smart decision.

This is what many investors tend to forget, everybody keep saying hodl, be patient but forgetting that all these are mere hopes and there is no guarantee that the coin will go up. They are a lot of coins that are have been below their ICO price with no sign of them ever reaching the ICO price not to talk of getting higher than that.

[Barbarian]

and if you still cannot manage your emotion, you cannot make a profit at all because emotion is take the important part of the trading. sometimes, we can see the price is up to high and we want bigger profit and it makes us still hold the coins. but in the next few hours, the situations change because the price suddenly drops and you cannot make any profit and even you are getting the loss. having patience is the key in the trading and you need to have this if you want to be a successful trader.

Many people focus too much on the technical aspect of trading and while that is without a doubt important very few books talk about the management of your emotions, and if you are incapable of doing that then it does not matter what strategy you use you will lose your money to the market.

I think reading a book about management of your emotions will better to know how to control your emotion and the best thing that we can do is keep practice to control the emotion. still, controlling the emotion is the one things that really difficult and it needs a time before we can easily to stay calm. maybe one of the ways to control the emotion is by leaving the market for a while and don't think about the trading and come back to the market if we are not in high tension.

After a bad trade it is important to relax and to stop trading until you are able to recover from the loss, some recover quite quickly but if you need to take a few days to recover do so, because if you do not and you trade before it you are only going to lose even more money by trading in that state.

[Turkish88]

This is not lost. You have profit small but profit.
No one do not know whats happen in 3 days, you can lost really 10k.

[Crytptomeniac]

As Benjamin Graham says "Holding assets for a few hours at a time -- is one of the best weapons ever invented for committing financial suicide."

You should always research everything you invest in. Through research, determine what an asset's market cap can realistically reach in the future and be patient. Keep in mind that a long-term investor is the ONLY kind of investor there is. Someone who is impatient and can't hold assets for a long period of time will eventually become a victim.

[RoftheN]

I cannot count the number of times that I have heard people talk about this. Before you invest you should always understand that waiting is part of investing in cryptos. You have to make sure that you are willing to be patient. I am sorry that you lost so much money,hopefully this serves as a lesson to others that if they are not patient then there is no way that they would be making money.