How to escape loss as an altcoin trader

[Ifemini]

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.

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[Psynthax]

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.

[kceekcee]

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.

I do not think it is possible to escape loss as a trader, there will always be losses.
The core importance is to ensure that, there are more profits than loss.

[Winscosinally]

There is no way to escape loss while trading  , even experts who know how to read coins charts do lose most times too, sometimes chart shows huge recovery incoming and once you followed this things takes an unexpected turn, that's crypto for you, always unpredictable

[BitcoinTurk]

Many traders usually evaluate on Bitcoin basis and accept Bitcoin as base currency. For this reason, when many people make alternative crypto transactions, the money they usually switch to is Bitcoin, and their purpose is usually to increase the amount of Bitcoin. To be honest, I think this behavior is a novice investor movement, although it makes sense, because I was doing this in my amateur times. I am not saying to boast, but I do transactions on our day with stable cryptocurrencies and I think this is the right professional move. Why do I think this way? The answer is actually quite simple, the goal here is to make money by trading. Although Bitcoin is perceived as the base currency, in fact, our first investment move is usually in cash and this currency is very dense in USD. For this reason, it is necessary to evaluate the investment made by looking at it from a wide frame, and in the blind spot of this framework, our main investment is the USD currency. Therefore, I have been making all my trading transactions with stable crypto pairs or PERP trading pairs in the last 6 months. My main goal is not to increase Bitcoin, but to increase my main capital as USD, which is my base investment value. In short, although it is a point of view, I think this way and assume that this is true.

[blockman]

It's a very much known strategy but you can't just tell everybody what to do. We are confident of holding bitcoin and let it move sideways or pump it on its own. We don't mind about using stable coins but if you're very delicate and sensitive with the value, you can do this again and again.
But, what if bitcoin rushes to increase and you missed it? there are circumstances that this happens.

[semobo]

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.

Holding stable coins have risks so they choose to better decentralized cryptos which is trusted by most of the crypto community is bitcoin.

If you want to cash out the profits made then just move to fiat than stable coin unless you will trade them too often.

And you can't find a perfect entry point,so just make a decision when you enter into bitcoin about at what price they are going to sell at.

[enhu]

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.

[travwill]

What you are talking about is called profit-taking, but it is only indirectly associated with reduced losses in trading.
After all, in addition to taking profits, you may have unprofitable transactions and this is the very thing that will take the most money from you, more than market fluctuations.

[Teawhalee]

Different people with different trading pattern. But I can tell you that majority of people trade altcoins to grow their bitcoins holding. I believe any good trade will have a reserve in Fiat to buy more position if there is dip for good profit.

[crypto595]

There is no way to avoid loss occasionally when trading, if there was then it would be guaranteed profit and everybody would be doing it.
Although if you DYOR and pick projects with real potential then despite the risks you can make  serios money.
For example TemTum is going to be announcing it's partnership with multiple nations to provide them with their blockchain as a backbone for their own stable national currencies.
once the announcements are made to the press, post-corona panic, I can see TEM going $1+

[adzino]

Lol, that's not a very "smart" way to "escape" from losses catching up to you. Just trading your altcoin to a stable coin like USDT when you have reached your profit goal isn't the solution. Why would you even trade it to USDT in the first place? Wouldn't it be better if you convert it to fiat instead? Anyway, the solution you put forward is good only if you decide to never trade at all after reaching your profit goal. If you start trading again, you will have to invest your back back to altcoins and there will always be a chance to lose your investment.

[Mianae]

Staying in USDT is not safe likewise staying in cryptocurrency when you're not actively trading. It's best you're an active trader, closing each trade on a daily basis on a pre-determined trade set up. Some exchange has option for fiat you can stay in fiat.

[Perfect35]

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.

If you are bullish on a particular coin, most especially bitcoin, you do not need to run away or be afraid of holding your bitcoin. Yes, you have to be careful, but a good trader will only use USDT temporarily and not as a way of running away from loss. Bitcoin is the surest of all coins. I am never afraid of a continual trade with it. I am a proud holder of BTC any day at any time because most altcoins cannot be trusted.

[doctor877]

My utmost goal is to increase my Bitcoin as much as I can and I do it with trading if alts. It's easier especially when there are some crazy increase that brings big profit in a little while. I always have reserve funds to guide my trades if it's not favoring me.

[kindbtc]

Your point is valid and i will add that if someone is just looking for daily profit in terms of usd then he/she should trade in usdt or other fiat backed coin pairs only, btc or eth pairs are my favourite just because i like to accumulate more and more btc and eth.

[jacafbiz]

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 are reasons why traders prefer Bitcoin as their main denominator when trading and calculating their profit:

1. They believe the price of Bitcoin would go up against so why convert it to Dollar
2. Most Altcoins do not have liquidity in their USDT pairs.
3. The exchange fees of moving it to and fro from BTC to USDT erode the trades profit so prefer to keep it in BTC

[Finestream]

Escape means you'll stop? I guess most traders will just use stable coins to make to their safe when they are uncertain with their strategy in trading, but this applies to coins with good trading volume only or coins that are trading in good exchanges.

For short term traders, they usually do this, but for those who like long term, they just hold their coins and wait on the right timing of selling.
That's also my strategy so I can share it here.

[bttmember]

Profit and loss are part and parcel of trading but the thing is you should be in profit by the end of the month, the world will never end if you make a loss or we can say that no one can be right always in the market it is just that average outcome should be positive.

[lobo13hf]

Staying in USDT is not safe likewise staying in cryptocurrency when you're not actively trading. It's best you're an active trader, closing each trade on a daily basis on a pre-determined trade set up. Some exchange has option for fiat you can stay in fiat.

Why is it possible? The fact that staying in USDT is much more safe rather than staying in cryptocurrency as it can be affected by the volatility of the coin itself. The only exchange sites that has fiat option are big exchange sites. I think that you must understand about the regulation that already applied when an exchange site tried to create fiat pair.