Tduty (OP)
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Merit: 21
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August 14, 2018, 08:20:29 PM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
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Azima85
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August 14, 2018, 08:45:54 PM |
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If you're not able to profit from trading in a bear market. You shouldn't be trading clearly. You're simply adding more losses to your losses from the way the market is behaving. So, either sell all and stay in fiat until market recovers or hold the coins you really believe in and forget about them.
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Kurokyy
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Merit: 100
LETS GO ADAB
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August 14, 2018, 09:19:15 PM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
It does not matter if the bear market will be very long because you can always hold your coins and wait for the price to pump so all you need is patience. |
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BitMaxz
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Activity: 2842
Merit: 2450
Bull market is coming?
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I think it's better if you check the other coins because many coins right now have been raising its price. Look at this list of gainers https://coinmarketcap.com/gainers-losers/So, don't focus on a single coin because not all coins are always the same price movement. Since bitcoin is supported and has strong resistance at $6k price that I think it's a good opportunity to buy bitcoin and wait for bitcoin price to rise again to make a profit. Don't focus to USD-BTC or USD-Altcoin try to multiple gains by BTC/altcoin or Altcoin to BTC to maximize your profit. |
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CryptYeah
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Activity: 140
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August 14, 2018, 09:29:17 PM |
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royalfestus
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August 14, 2018, 09:36:10 PM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
Just try not to trade with ethereum as exchange unit now, I dont seem to have enough confidence with the coin right now. The community around bitcoin staying above $6000 looks stronger than ethereum. If you check the coin decline lately,it is far deeper than bitcoin , and it is not attempting to revive at all at those slumps. This makes the coin not a smart move and not good to keep now. |
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Maymun_lavigne
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August 14, 2018, 09:40:05 PM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
do not assume that trading is like addiction, assuming trading is like a paid hobby. indeed, if you look at the bear market conditions it will be long enough, but you have to be patient and make sure you always hold your coin for longer until the market goes up again, if you don't want to lose your money too deeply. all you have to do now, if you have free money, doing it like this back trade is the time for you to buy a coin that you are interested in, because in my opinion all the coins have fallen too deep and it's time to buy. |
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valheru
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August 14, 2018, 10:17:58 PM |
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You are too late to stop your daily trading. As far as I understand, you've already had some losses. I suggest you stand back from the daily trade until the markets improve. Do not touch the coins that you have, hold for until the last 3 months of 2018, So do hodl for a short period of time. This action will at least prevent you from to make losses in the market during that unbalanced period.
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R.R.L.
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akosipepot
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August 14, 2018, 10:25:02 PM |
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You are too late to stop your daily trading. As far as I understand, you've already had some losses. I suggest you stand back from the daily trade until the markets improve. Do not touch the coins that you have, hold for until the last 3 months of 2018, So do hodl for a short period of time. This action will at least prevent you from to make losses in the market during that unbalanced period.
I agree with the above statement. For now the best course of action for you to take, in my opinion is to resist trading until the market becomes less volatile and more predictable, now its just too risky. |
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logan16j
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Activity: 252
Merit: 10
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August 14, 2018, 10:39:13 PM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
I think you should not continue to invest at this point, you can see that the market is fluctuating continuously and very hard to guess, bitcoin prices are constantly adjusting and falling very strong, which made the price of altcoin fell very deep. Therefore, I believe that at this point you should not trade to minimize the risk. |
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BitHodler
Legendary
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Activity: 1526
Merit: 1179
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August 14, 2018, 10:39:39 PM |
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do not assume that trading is like addiction, assuming trading is like a paid hobby.
Didn't you read about how more and more specialized professionals are now focusing on people being addicted to crypto trading? It's a real thing and shouldn't be underestimated. I can't agree with anyone considering trading to be something similar to a hobby, because it really isn't. If you are exposing your hard earned money to this level of risk, you can't do anything other than taking it seriously. Trading in a bear market is like suicide for the majority of the people. The only thing you should be doing is buying the market down or temporarily wait for the market conditions to improve. In other words, OP is better off just taking a break. |
BSV is not the real Bcash. Bcash is the real Bcash.
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CodyAlfaridzi
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August 14, 2018, 11:52:23 PM Merited by TimeTeller (2) |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
Sure it's hard if you're looking to make profit by capital gain in a bear market. Bear market is the time when you should accumulate cheap coins to sell it later. But you still can make profit by shorting the market in leveraged trading. That's what I've been doing since Q1 this year. Leveraged trading give you the opportunity to make profit wherever the market is going, as long as there's price movement, there's money to be made there. Learn how to margin trade, go to Bitmex, and short it  |
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TimeTeller
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August 14, 2018, 11:59:34 PM |
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I think it's better if you check the other coins because many coins right now have been raising its price. Look at this list of gainers https://coinmarketcap.com/gainers-losers/So, don't focus on a single coin because not all coins are always the same price movement. Since bitcoin is supported and has strong resistance at $6k price that I think it's a good opportunity to buy bitcoin and wait for bitcoin price to rise again to make a profit. Don't focus to USD-BTC or USD-Altcoin try to multiple gains by BTC/altcoin or Altcoin to BTC to maximize your profit. That's very correct. If you are really a trader, you have so many options to look at. You can always go back to bitcoin anyway. And do what is necessary to gain at least a lil bit of profit even if the market is not so nice. Sometimes, checking other altcoins or tokens might help you in your trading. Just the right move and you can get your profit easily. Not to wait too long to get something. |
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herurist
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August 15, 2018, 01:19:03 AM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
Most people will decides to cut loss and replace their money into another financial instrument, some of them will keep to hold. See again your technical strategy if you see this condition will running on long time period cut loss is the right answer. But if not just keep hold it or buy another potential coins as your asset. Decisions is yours and good luck to you. |
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manggis97
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Activity: 476
Merit: 10
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August 15, 2018, 01:19:16 AM |
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Wait for market rebound and trade some money in other platform that possible to make profit from bearish market, like Bitmex or MT4 platform. We dont know when the bullish run will coming so trade on the others platform is good idea to make some profit on the bearish market. We should be always make money although the market on the down trend.
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metribitcoin
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August 15, 2018, 01:33:21 AM |
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When you know and have prediction the crypto market will bearish, that mean you will have small opportunity to make profit, and my idea is to turn all money in to others asset like stocks market, and then if any sign the crypto market back to bullish again bring back the money in to crypto again. By this strategy we can make profit in consistent but we have to learn more in 2 different market.
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Lhaine
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Merit: 128
Coinbene.com - Experience Fast Crypto Trading
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August 15, 2018, 04:01:51 AM |
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Trading is like an addiction, but this bear market seems will be very long. Bitcoin is going to under 6k USD, ETH is now 262 USD, Almost 80% coin fell down. I can't make profits at this moment in trading, Because after getting a little bit of profit, the market again goes under, then another coin eats my profit too. What should I do now?
It is depends on you if you think it's hard to get profit on this time then stop doing trading but if you can earn profit even in the middle of situation on the market right now then continue doing that. |
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darthmaul
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August 15, 2018, 04:21:05 AM |
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I think it's better if you check the other coins because many coins right now have been raising its price. Look at this list of gainers https://coinmarketcap.com/gainers-losers/So, don't focus on a single coin because not all coins are always the same price movement. Since bitcoin is supported and has strong resistance at $6k price that I think it's a good opportunity to buy bitcoin and wait for bitcoin price to rise again to make a profit. Don't focus to USD-BTC or USD-Altcoin try to multiple gains by BTC/altcoin or Altcoin to BTC to maximize your profit. This is a very good strategy and I guess everyone must be following the positive market rather than negative one because that one will bring only thoughts which are not worth anything. We can trade in the bear market too. Recently I have read a great article on the forum only where I came to know different mistakes that people do and how that can be overcome with our own techniques and thus make things look better. This article states that in the bear market also you can have the same swing trades as you would in the bull market because in any of those you always get to see little ups and downs. |
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ukboss
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August 15, 2018, 03:29:00 PM |
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Of course trading as like an addiction because if you start trading and you can't control your trading. Most of the people can't control his emotions so they are lost his money in trading. At the moment cryptocurrency market is not good for trading so I think you should stop trading in this broken market. When you can see cryptocurrency going to pump then you can start trading.
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thesmallgod
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August 15, 2018, 04:08:53 PM |
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I should not think you need to ask the question. you have clearly stated that your profit turn to lost which to me it is very normal especially during this period when the rate at which crypto is droping is unpredictable. I think you need a break to do more research and analysis. you will need to relax and watch the market. this is not the first time this is happening and like they say, experience is the best teacher therefore learn from the past experience. I wish you all the best
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