How to escape loss as an altcoin trader

[lienfaye]

For a trade for the loss is common, but we all have different ways of trading to make it more hope to get the profit and way you say the one that we often use, but sometimes we are also difficult to avoid loss because it is too lusting in trading, but if we can wait patiently then the profit we get from Bitcoin and Altcoin is huge.

Losing is part of trading and if a trader already experience it you will come up with a better plan to use the next time you trade.

We can minimize our chance to lose if we have a strategy. Converting in a stable coin is good but it depends on every trader.

Sometimes we prefer to hold in btc then take advantage the dip once it occur.

[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.

[Hippocrypto]

For a trade for the loss is common, but we all have different ways of trading to make it more hope to get the profit and way you say the one that we often use, but sometimes we are also difficult to avoid loss because it is too lusting in trading, but if we can wait patiently then the profit we get from Bitcoin and Altcoin is huge.

The patience is there at all times, but how long a trader will sustain while bitcoin and altcoin value has no assurance. While we didn't see more signs that there's a potential increase which contributes to the growing market. However, in avoiding your loss don't ever decide quickly but rather choose to hold your coins safely.

[bitcoinst]

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.

[royalfestus]

Putting your money to USDT should have been done when BTC price was still $20k but then anyway, you still can do that every time the chart says its the peak and overbought. Somehow I was able to minimize my loss after holding some altcoins I thought would spike up since last year. Try day trading to get few bucks if you can, sadly it didn;t worked for me but for some I guess it works.

I hope he understand the position of staying in BTC at this time, the worst possible dump is $1000 and highest possible pump is over $100k, the price of bitcoin is just above $7000. It depends on the capacity for risk but it looks like the wise decision is to stay in bitcoin until the bull run. You cant be too careful but can be smart to stay long,try stable coin in  small percentage of your holdings but for now I dont hold any stable coin, am even scared to hold any while I see those pump and not benefit.

[fullhdpixel]

Traders cannot escape from losses but only holders may get the chances to avoid losses with their altcoin investments. It means if you choose your altcoins with care then you may get chances to avoid losses. If you notice, only holders will be making more profit compared to traders. So if you are more concerned about escaping from losses then you should not go for trading altcoins. Instead of trading frequently, you must choose few altcoins for long term holding.

Instead of trading frequently, you must choose few altcoins for long-term holding. Please note only few. If you go for investing with a random coins then the chances for facing losses will be more. Some years back, I have tried day trading bitcoins against fiats and altcoins against bitcoins, but none of them were beneficial to me. Then I decided to invest only with bitcoin and a few other altcoins like ethereum, ada and waves and I'm still holding them.

[Kodaman]

The only way to escape loss of your altcoin is by hodling. As long as you don't sell, the price is nothing but a number on the paper.

[memed97]

The only way to escape loss of your altcoin is by hodling. As long as you don't sell, the price is nothing but a number on the paper.

Avoid what? because usually losing altcoin is synonymous with hacking our wallet by someone we don't know, but you say this with just a word without a more complete explanation for it.

[Emilyp]

Most times when we close our trades in Btc or Eth, we expect to swing some profits in both currency before converting to with fiat or stable coins. This does not go in our favour always. I will advice people to trade against stable coins like USDT it saves the stress of sudden loss in Btc price and it also removes any sudden gain in Btc price either way a trader should decide their trades we cannot have it all.

[ethereumhunter]

Even the altcoin you are traded is not have any pair to USDT yiu can still  able to convert it to usdt but you need to use other market.

For example token - ETH pair then after having ETH you are now able to use the ETH-USDT pair it will have the same result, you are only need to add another trading fees for this convertion but its only a little amount you will waste doing that.

Yes, you are right. But we can select which pair that we feel comfortable with to trade so we can know how to minimize the trading fee, and of course, for the withdrawal fee too.

In token - ETH pair, it needs time before we can be able to convert that token into ETH because the price will not move in a short time. So, in this case, we need to choose the right tokens so we can get the ETH in not too long.

[skeleto88]

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.

[Ifemini]

The only way to escape loss of your altcoin is by hodling. As long as you don't sell, the price is nothing but a number on the paper.

This is a very wrong way to go about it.
The price is something and a slight dump in price usually rekts so many capitals. So you need to relearn your strategies to fit in with the realities in crypto currency trading today.

Hodling aimlessly is not rewarding, there must be strategical news, rumors, updates that you are expecting before you just hodl for the longer time

[Finestream]

Hodling aimlessly is not rewarding, there must be strategical news, rumors, updates that you are expecting before you just hodl for the longer time

Definitely not reward because it's investing blindly.

Holding is always good if you believe on the developers and at the same time you follow their updates and development.
it's a gamble, and you have to put some target so you'll be able to sell it at the right timing.

For me, following the update would only give me a chance to cut loses, because if I feel the project is going down, I will have to sell right away.

[ttcsalam]

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.

[Nesbee2]

Although you may not completely escape  loss as an altcoin trader or crypto trader in general ,  but if you study the market well and get familiar with FA and TA  you can trade with profits.  One more thing you have to avoid greed,  take your profit while you can.

[passwordnow]

Although you may not completely escape  loss as an altcoin trader or crypto trader in general ,  but if you study the market well and get familiar with FA and TA  you can trade with profits.  One more thing you have to avoid greed,  take your profit while you can.

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.

[Eclipse26]

In order to overcome a loss in trading, one should continue. If you lossed an amount due to a mistake then learn from it, continue. You won't always win in such msrket wherein consistency is lacking. What wotks is deep analysis and luck most of the time. Predicting the best coins to trade is not possible. Selection of coins would depend on the trader's speculations of the market making it normal to sometimes lose.

Although you may not completely escape  loss as an altcoin trader or crypto trader in general ,  but if you study the market well and get familiar with FA and TA  you can trade with profits.  One more thing you have to avoid greed,  take your profit while you can.

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.

The only way to escape loss of your altcoin is by hodling. As long as you don't sell, the price is nothing but a number on the paper.

Holding won't be effective always. There is a chance for the loss to bloat if you will still hold and wait for things to recover because there are times that coins remain on the "dip".

[fullhdpixel]

Losing is part of a traders life, you will have losses and that will be normal in any day because that is how being a trader works, you make profits and you get losses and hope that in the end profits are larger than the losses and that way you could be in profit over a longer term.

I have a friend who makes trades almost everyday, even on bad days when things go down dude is trading, he does manual trading and also works with a bot as well (different accounts on different exchanges) and dude had the biggest loss I have ever seen in trading once but also had the biggest profit as well, overall he is doing alright, he is not super rich but doing quite well considering he has huge swings between ups and downs. If you want to be a trader, learn from your losses and move on.

[Firefoxx]

This fact is really inevitable and I do tell people no matter how careful one seem to be he or she must one day face loss but curtailing it is by removing greediness and be contented with what you have earned, learn to monitor market before one buys and also learn to be confident, you don't trade with panic.

[SolarWindMiningCompany]

Hodling aimlessly is not rewarding, there must be strategical news, rumors, updates that you are expecting before you just hodl for the longer time

Definitely not reward because it's investing blindly.

Holding is always good if you believe on the developers and at the same time you follow their updates and development.
it's a gamble, and you have to put some target so you'll be able to sell it at the right timing.

For me, following the update would only give me a chance to cut loses, because if I feel the project is going down, I will have to sell right away.

I hold only tokens/coins I extremely believe in. Usually for 6 months to 2 years while I monitor development. This used to be a major habit for me till I understood that I most cases, you can't really tell the trajectory of a project just by a beautiful whitepaper and busy roadmap. In some cases, developers may have some mental or moral twist and then, there goes the project. So in the end, always put in some money you can afford to loose and don't forget to take profits whenever you are in position to do so. Crypto is really unpredictable