At first, let me ask you, what are your plans when you enter this market a month ago? If you are trading stock market in past, you should have atleast some plan in mind before purchasing those coins. Do you have any exit plan or any price point where you'll be cutting your loses?
Those questions are very important ones especially now. You don't want to be affected by your emotions if you want to make a wise decision in this kind of market that we are having right now. You have some good coins out there (some of them are included in the top 10 markecap) and should be a good buy if only we are in a different trend of this market cycle. What's happening right now is inevitable as we are experiencing correction from the last bull run that we had. Together with the market makers wanting to enter at a much lower price, you shouldn't be surprised that we are having blood bath today.
If you have any trading plans, stick to it. And if you don't have any, I think it is best to cashout whatever's left in your portfolio and never come back again in cryptosphere. I'm not scaring you or making some FUD here. It is the truth and you should know it by now. This market is so harsh for the uninitiated ones.
Thank you for your detailed insight, I appreciate it a lot! Yes, I have a plan, and it doesn't include total liquidation of crypto coins. I specifically purchased different currencies to diversify as much as I can, as I did in past with stocks. I never experienced such a big downtrend in stocks, usually some goes down, some other goes up and I was fine most of the time, what was important was the entry price in the market, having a good entry point usually brought me good profits. Here it is different, if it goes down they all go down.
Outside crypto world, a correction is everything <40% Fibonacci in value decrease, so what we see now BTC going from 20.000$ to 8000$ is a 250% decrease! This is not a correction, in my opinion, this is a crash and where is the bottom I don't know.
That's my dilemma - I don't want to exit crypto world at the same time I want to have profit, I can afford to lose this investment, but that would be a shame for me.
I understand that the crypto currency market is unpredictable, but still, when the price of our old man falls, the best time is to buy tokens, and not sell them. You need to sell tokens when the currency rises.
Yes, good thing I left some money to buy more in case of decrease, however it is painful to see the portfolio decreasing day by day.
I greet you, members of this forum. I closed most of the orders I had on stock market and purchased crypto a month ago. Right now I am down 40%, I don't remember having such a big loss on any investment I had before (portfolio speaking).
Usually, my stop losses come in before seeing such pictures. Should I close positions and reenter later or should I hold? I really don't know how to handle this crypto investment.
I purchased BTC, BCH, ETH, NEO, XMR, BTX, ARK and KMD.
Almost all of your portfolio is a good coin, I think you just had a bad entry just like in stocks. better wait for green market. I believe you can recover your losses soon because the bear is tired already and the bull is ready to make his move.
My entry was nice in my opinion, as BTC broke above 10500$ with good volumes, giving a strong buy signal. Now I see that was a bull trap.
