How to escape loss as an altcoin trader

[maxreish]

Oh yeah, I remembered doing this before. When i bought IOST and the price started to fall, i converted it to stable coin as USDT. At least, it saved me from big losses. Somehow, it's kinda effective. Especially when you can spot when will it dump before selling or looking at indicators before the market dumps. However, i dont do it now since I focused on bitcoin trading as swing trader.

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[DevilSlayer]

It seems that there are many altcoin traders that are keep experiencing losses due to the risks, I also trade some altcoins but the altcoins that I trade are the ones that have the highest market capitalization and also volume. I also love to trade altcoins that have good liquidity where I can exit and enter easily with good volume. For those experiencing losses due to trading altcoins, it is better if you will find the problem first. If you trading shitcoins then it us your problem it is better if you will trade altcoins that have high volume.

[Meowth05]

My suggestion is to think of trading altcoins as the same as forex, you will not get dividends if you hold for too long and sometimes trust your gut when you want to exchange.

[Rosilito]

I'm not totally certain with their motives on selling their profit over bitcoin but it seems that it is a form of investment, on the other hand. Maybe it would be much better if they would sell it when bitcoin price is in its poor condition. I agree to your idea but trying different stuff would bring you more profit. And it is not bad though risky, nevertheless, you will just have to wait again or much better buy some btc once again then wait till market pumps up. In addition, buddy you always have to risk if you want to get better profit, so don't think that it is bad practice but a challenge for a new amazing feats.

[ballerin and giroud]

Why do you criticize other people's strategies? I think there is no rule that oblige other people to just trade in altcoin and bitcoin only. If they thing to move their profit to bitcoin then you have to allow them and if you think that this wasy is profitable you can follow the strategy. Remember you came to invest or to trade on cryptocurrency only for gaining profit, not only for to spread the good think about the altcoin and they should love the altcoin that you love. Find some way for you to gain more profit as you can.

[poodle63]

Many lost even their profits and capital out of greed, u do the people if which I was a victim to always sell thier profits and close the trading then use initial capital for another trading but hopefully a new coin not already traded. Most second entries of same coins do end up dumping on you. Let's learn to take profits

The players that enter in the late game will always be a looser. We must be careful with anything especially when the market is really volatile caused by there was a lot of possibilities for us to take the wrong position and we will be dumped by those dumpers. I never try to enter the market when it was getting the bullish trend. That's a bad time to trade.

[Lhaine]

My suggestion is to think of trading altcoins as the same as forex, you will not get dividends if you hold for too long and sometimes trust your gut when you want to exchange.

If they want to lessen the lost if they trade into altcoin they should set cutloss everytime they make an order . Many trader's lost big amount because they dont know how to use it, which is actually the most important thing you need to know before starting to trade.

[ElmedoRator]

You need to always set stop loss when trading altcoin. Do not rely on it and hope for it because if altcoin collapses, its price will surely fall deeply and it is difficult to recover in a short time. I always set a stop loss 5-10% depending on the altcoins I buy

[pragna]

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.

Very true that if anybody gain profit from any business or any project he can convert it into USDT so that price may be stable as the entry level. Actually cleaver men must did it and that's why when market make dump they are keep free from tension. Finally investment is a strategic game and men who made it successfully he can win.

[TheICE007]

Well losses cannot be over ruled as an altcoin trader, in as much as you want to be conservative and you follow the price action,there are times when a fundamental analysis news could disrupt the game plan or the movement of BTC,that being said,most times people convert their profit to usdt but some prefer to hold BTC because no matter how it falls,it will still bounce back up and it has the tendency to grow in dollar value

[Firefoxx]

Trading loss cant never be avoided but once can curtail though which is by trading and keeping your profits aside, even if you misses target you can recover back through your saved usdt but as for totally escaping loss i.am not sure it's possible in Crypto.

[Finestream]

You need to always set stop loss when trading altcoin. Do not rely on it and hope for it because if altcoin collapses, its price will surely fall deeply and it is difficult to recover in a short time. I always set a stop loss 5-10% depending on the altcoins I buy

I experience that  in the past, I don't do stop loss as I was too confident that altcoins will still recover easily after the bull run, so now, I have some small regret of doing that but we are just traders, we are playing the big guessing game, we never know what will happen tomorrow, so experience is really important as we learn from it.

[litepool.ru]

My suggestion is to think of trading altcoins as the same as forex, you will not get dividends if you hold for too long and sometimes trust your gut when you want to exchange.

If they want to lessen the lost if they trade into altcoin they should set cutloss everytime they make an order . Many trader's lost big amount because they dont know how to use it, which is actually the most important thing you need to know before starting to trade.

If they are big traders, then I think they must know how to set a cut loss for their altcoins. The reason they lose so much every time the market collapses is because they use margin, it will easily make them more profitable but it will also easily make them lose a lot in this market.

[LuciferMorningstar]

Shallow up your loss and move on. Don't clinch on it and let is stuck at your mind, affect the later decision. Sometimes, we have to know when to give up as you can't save a sinking ship of altcoin.

[someone703]

You need to always set stop loss when trading altcoin. Do not rely on it and hope for it because if altcoin collapses, its price will surely fall deeply and it is difficult to recover in a short time. I always set a stop loss 5-10% depending on the altcoins I buy

Absolutely agree with you, if the altcoin we buy collapses then we should sell them as soon as possible and wait for the better opportunity to make a profit. Never try to hold it because its price will go down even lower, I've had this case a few times in the past and it helped me gain more experience in this market.

[trauchot]

There are a lot of options to get a stable profit using altcoin trading, but not all of course the options will suit everyone, for example, I’ve been successful in selling a lot of altcoins before the entire cryptocurrency market has fallen and invested all the profit received from the sale of many altcoins in bitcoin and already made it x2 profit, so everything is possible, just everyone has their own ideas and goals.

[Vishnu.Reang]

There is only one way to escape from loss while trading. Stop trading altogether. Even the best of the day traders have a strike rate of only 55% to 60%. They are able to make profit, because of their adherence to strict profit-booking and stop-loss targets. And if you want to become a successful trader, more than anything the stop-loss target is important. Never ignore that level while trading.

[South Park]

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.

There is no standard answer for this since everything will depend on how the market is moving at the moment, when altcoins begin to outperform bitcoin and we see a reversal of this pattern this could be for two different reasons, if the whole market is going down then the correct thing to do is to get stable coins, but if altcoins begin to go down only against bitcoin but they are still going up against fiat then that is the moment to get bitcoin so you can still keep getting profits and grow your capital.

[gundala]

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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.

Every trader has their own strategy. Nobody wants a loss, it's just a risk. I have a friend who prefers saving profits during trading in BTC, he said: for long-term investment. He doesn't care when it dumps, he just holds, be patient, and sells it when it's up again. Of course, he didn't put all his profits there, because I also knew he had a small business.
For me, preferring to immediately take the profit into fresh money, I save in a bank account. That's a safe way, my version. Yes, everyone has their own way, we cannot force it, because surely the decision has been considered and adjusted to their needs. There is nothing wrong, with a record of understanding this ecosystem well.

[Iyanu14]

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.

It is almost impossible to avoid loss totally in trading, loss is part of risks taken in trading.  What I could have said is mitigating loss as a trader.  Loss can definitely be reduced to the nearest minimum by taken some precautions and through experience.
1.  Don't be greedy: once you get some gain from that investment, it's OK. Don't wait until everything is forfeited
2.  Don't put your whole eggs in one basket.  Spread your potential loss or risks across investments and not just one.