How to escape loss as an altcoin trader

[Maackayon1]

People are kind of more statisfied if they lose when in BTC than losing to an altcoin. Even if BTC is on downtrend they won't mind. But if it goes up, then they will be in massive profit.

[1714953507]

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[1714953507]

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[1714953507]

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[imoet]

I want to assume that there are few people, who make several profits from trading altcoins, but sell their profit to bitcoin, and then over time while holding bitcoin, it dumps and their profits dips alongside bitcoin.

Why not do it this way ?
Since you trade mostly in altcoins, as soon as your make your profits, sell them to stable coins or fiats, close that trade chapter.

If you are passionate about hodling bitcoin, always convert to usdt or other stable coins and be patient for a fair entry point. Because the market isn't running away

What do you think everyone ? is there a better pattern that can be practiced?

I am open to more suggestions.

When we are holding,  we should be careful and wise in decide it anything that we want to do to our coin. We should be careful because we want to sell it in the right time.  It will be better to lose in the real fight rather than just dream about it.

[cytpoway121]

The simplest way to escape loss as a trader that i know is.
1. Always do your research and be on top on your trades.
2. Always take profits, don't hesitate when it comes to taking profit

[TopT3ns]

The simplest way to escape loss as a trader that i know is.
1. Always do your research and be on top on your trades.
2. Always take profits, don't hesitate when it comes to taking profit

I think only in a more simple way you will be able to avoid the name of the loss, the way is you must be able to control your patience when you are stuck at a high price then you should not sell it at cheap prices in any way do not sell at low prices because when the estimated value of your assets can return when prices have risen again and make sure you trade in the top 10 best altcoins..

[passwordnow]

Greediness will make you avoid the profit. If you wait further more for a greater profit because you are greedy, this will not allow you to take the profit while you can.
Avoiding the greediness and setting an accepted profit shall be enough as a trader.

Wanting for more is not a bad thing, there are times wherein waiting is suitable and times wherein it would be more risky to hold for a little longer. But I do get the point, trading do work more often on short term and investments do work more on longterm. But it still depends.

It is bad if that's really too much and causing you to be greedy. That's how it goes and if you are very contented to the profit that you are earning with your trades, you will not commit further unless you want to take risk and you know the consequence of it.
You can always set how much you want to achieve but make it reliable and close to the reality to avoid further losses.

[math2020]

A good trader can minimize his losses by trading in stable coins not in shit coins. Some time A Trade goes against  so best step is to use stop loss and do research on coin before taking trade. Profit loss is the part of trading.

[matchi2011]

The simplest way to escape loss as a trader that i know is.
1. Always do your research and be on top on your trades.
2. Always take profits, don't hesitate when it comes to taking profit

I think only in a more simple way you will be able to avoid the name of the loss, the way is you must be able to control your patience when you are stuck at a high price then you should not sell it at cheap prices in any way do not sell at low prices because when the estimated value of your assets can return when prices have risen again and make sure you trade in the top 10 best altcoins..

There's always knowledge that should accompanied by your actions, if you wanted to have a much higher success rates when you are into this business you need to work with your proper understanding. There are lots of works that you needed to take it's shouldn't be rushed out since you are dealing with your hard earned money, invest when you are ready and keep in mind that you have to keep adjusting until you learned the proper ways of trading.

[joshua123]

This is possible by launching a single stop loss.But not all exchanges have a stop loss system.As far as I know, there is no other option without it.Turns on the trade.There is no option but to wait.

Is this stop loss automatic? Cause when I am using Binance in order to execute it you need to click the stop possible gains or loss in order to stop it. Most trader probably using margin and future trading cause its simply have a good chance of earning bigger. I only use spot trading when I needed to dump my tokens from bounty but for important one such as bitcoin, eth or xrp I am using the feature of marginalized trading for better leverage of coin's gain and profits.

[sifonE]

People are not focussing to the bitcoin only. Im also an altcoin trader but im also using bitcoin and USDT as the main pair to trade every day. Sometimes they are trying to bet on the rumour that comes for bitcoin and that's why they were still converting their profit to the bitcoin. There were a hundred reasons for that. I was also doing it too but that doesn't mean if they are always converting all of their profit to the bitcoin.

you know wen the market is going down, if you have USDT and BTC market is dropping you can convert to them to earn more btc, so in this aspect you have gain more. secondly you will keep track on the market as it's going up then you convert it USDT. but trading other currencies rather this is also good but for safe trading i will advised people on this, i most used that too

[rodskee]

I want to assume that there are few people, who make several profits from trading altcoins, but sell their profit to bitcoin, and then over time while holding bitcoin, it dumps and their profits dips alongside bitcoin.

Why not do it this way ?
Since you trade mostly in altcoins, as soon as your make your profits, sell them to stable coins or fiats, close that trade chapter.

If you are passionate about hodling bitcoin, always convert to usdt or other stable coins and be patient for a fair entry point. Because the market isn't running away

What do you think everyone ? is there a better pattern that can be practiced?

I am open to more suggestions.

You don't understand why People choose Bitcoin to Hold compared to stable coins or fiat,Because most Of Us(Including me)
 are trying to make profit sometimes in Trading altcoins but converter to Bitcoin after because we trust the number Currency
and we have seen how this grows over the years and we are very certain that even if it dumps tomorrow Pump will
follow so that is why we are very consistent in our Holding though we also have some Good altcoins as diversifying is safer way to have Holdings here.

[lobo13hf]

The simplest way to escape loss as a trader that i know is.
1. Always do your research and be on top on your trades.
2. Always take profits, don't hesitate when it comes to taking profit

Research is a common thing but you must think an alternative way to trade just like use stable coin pair to make sure you can avoid the nature lose caused by the volatility.
Just try to take the profit whatever how much it is. Some times people wanna bet more and more without try to do a good for the fund management. This is why fund management is an important thing.

[shoreno]

A good trader can minimize his losses by trading in stable coins not in shit coins. Some time A Trade goes against  so best step is to use stop loss and do research on coin before taking trade. Profit loss is the part of trading.

indeed we need to trade our coins to stable coins if we feel that market is collapsing but people just trade thier coins for fiat which is also a good idea but the only problem is that you might spend the money accidentally which the purpose of that money is supposed to be for trading .  
sh8tcoins is not a good coin to invest but people still pick them because they are cheap and they expect huge return  . other than that i agree on the last part of your sentence

[miningguru]

The simplest way to escape loss as a trader that i know is.
1. Always do your research and be on top on your trades.
2. Always take profits, don't hesitate when it comes to taking profit

Research is a common thing but you must think an alternative way to trade just like use stable coin pair to make sure you can avoid the nature lose caused by the volatility.
Just try to take the profit whatever how much it is. Some times people wanna bet more and more without try to do a good for the fund management. This is why fund management is an important thing.

The major factor we need to consider in trading is fund management, without fund management, it is impossible to make profits in trading, even though we have very good experience but failed to do maths will always lead to losing money. So it is always good to convert our profits into stable and also we need to the altcoin with the stable coins only instead of BTC and ETH.

[leea-1334]

That is what I have been talking a about, when Bitcoin or any other major coins are going dip, instead of lossing any profits why don't switch to stable coins since they don't make any changes in their prices wether it is bearish or bullish then like what you said switch back to your bitcoin or any of your desired coins to invest with when the market is turning into bullish to gain profits.

Well, of course that is the best idea IF you knew when they dip was happening,,, but this is like trading in a way, if you keep trying to sell for stablecoin during a dip and back to crypto before the bull. People lose money this way. UNLESS you want to store $ value, in which case you do not want to have crypto.

[panganib999]

It is difficult to escape or get away from loss in doing Altcoin trading because there is no perfect trading. It is because the volatility of cryptocurrencies in terms of their prices is always present and it is really hard to predict whether the price will go up or down. It is just a matter of instinct or gut feel whenever a trade becomes successful to the extent we expect it to happen. Experiencing great loss on trading can be lessen if you will just know the appropriate limit you can foresee on doing trades to lessen the risk of experiencing loss. Experiencing loss on trading is just a normal scenario because volatility is one of the features cryptocurrencies do possess so it is unpredictable to say if the trade you will do is insured to succeed.

[Slingshot]

This is absolutely the best, it affected me and still affecting me but I chose this pattern not to be greedy, once I sell a coin I will let go of that coin for that moment and move to another trade, second missionary journey hardly favour me but must people are in same shoes with me, they sell and use both their profits for second journey and everything would dip together if which thus ends of loosing both capital and profits. We need to be more wise.

[bussybuddy]

Trading altcoin requires a lot of experience, and you have a lot of time to track the altcoins you are investing. If you are not sure about the trends of those altcoins, you need to set a stop loss to ensure your assets are safe. That's the way I am in this market to the present

[TheGreatPython]

Well, you’re right about that, though this is not a new idea, it’s really old and many people have said it here and also many people are already doing it. Anyone that wants to save their money from being lost from the wild price movement of Bitcoin and other volatile cryptocurrencies should be using stable coins such as Dai, USDT, TUSD, and other stable coins there is in the market.

If you’re trading with Luno exchange (my favorite platform), you can exchange it to real USD and that way you will be safe and the money will still be in your wallet. One simple way to escape from altcoin trading is, choosing only 3 or more years old coins only for trading and that type of coins are always good for holding too (holding will not let traders to face losses).

[terrific]

The point is there are many traders that don't trust USDT and other stable coins.
Escaping losses is like you're avoiding the whole market's devastation. You can avoid this by getting out completely.
But as long you stay, don't expect you will be free from it.

I believe the author is interested in how to reduce losses during the trading itself and not how to avoid trading itself.
As mentioned above, you need to close all transactions in plus. Even if this plus is small. This is the key to your mental health.
It is extremely difficult to come to this, but this is what every trader should strive for.
Only with experience can you identify risk points, by lowering which your profit will rise.

I'm with you with that answer, a trader with experience can easily determine those points that are low or high risk.
But if the mental aspect is affected, we can't determine how a trader will react on this.
We have differences with this matter.

[Baimovic]

if you want to trade using altcoin then I recommend like BNB, ETH and USDT. some of the top altcoins have decent selling prices, both for the long and short term. especially when the market situation is starting to improve, of course you can trade the top altcoin to get a decent profit.