Dollar cost average on Altcoins

[WiND33]

It is better not for an ordinary person to trade on stock exchanges without knowledge of analytics. In the long term, such trading will lead to losses and loss of money. Most altcoins are already unlikely to rise in price, so you should not invest in short-term coins that you are not sure about. There is little chance that they will make a profit.

[bjmpoker001]

I think you were taking wrong move. You should sell your coins when the price of the coin falling too much.
As a trader, we must sell our coins either if the price rising or falling too much in the market.
The purpose of this move is to cut our loss when the price fall, and to get our gain when the price rise.

[articlecity]

Trading cryptocurrency has always been hectic for some users, instead of going through trading tutorials and courses, they chose the simplest and the most popular method of buying and selling which is dollar cost average. Very easy, effective but one need the mind to take the little loss at the initial stage.
The problem I have encountered with this method is when Altcoins drop by 50% - 70%, its always difficult to make profits as most of take eternity before they make such huge recovery again.
How do you deal with this situations of huge loss on Altcoins?

Dollar cost averaging thing suits only either big investors or funds that have a comprehensive strategy and expose only small percentage of funds per trade.
For average small investor it does not work because he has purchased with all available money and he is trapped untill price recovers.

[Dragonfund]

Trading cryptocurrency has always been hectic for some users, instead of going through trading tutorials and courses, they chose the simplest and the most popular method of buying and selling which is dollar cost average. Very easy, effective but one need the mind to take the little loss at the initial stage.
The problem I have encountered with this method is when Altcoins drop by 50% - 70%, its always difficult to make profits as most of take eternity before they make such huge recovery again.
How do you deal with this situations of huge loss on Altcoins?

Dollar cost averaging thing suits only either big investors or funds that have a comprehensive strategy and expose only small percentage of funds per trade.
For average small investor it does not work because he has purchased with all available money and he is trapped untill price recovers.

some alt are just disaster when you go this way with dollar cost average on them. Alternatively, i will go with Bitcoin as many has suggested ealier.

[hwtee]

Tokens choice depends on reliability and practical value of each concrete idea. But what makes much sense - some aspects that stay for new trends. For example, I am pretty disappointed by more bots attacks on website and low level of security, only captcha helps a bit on the field

[hwtee]

Are there any alternatives right now? I mean is there any particular strategy you are switching to?

From my point of view, the alternative is usage of technically advanced solutions. But in here, of course, you should be choosing the most advanced solutions only

[hwtee]

Yes, agreed. At least I cannot think of something more rational. But you know, I tried to find unique solutions several times and what I have noticed - it is not very simple to find impressing ones. They are all more or less similar

I also thought so and that's why I conducted researches. Basically, the most advanced and attractive solution I have found is hCaptcha. hCaptcha is designed to solve the most labor intensive problem in machine learning: labeling massive amounts of data in a timely, affordable, and reliable way. hCaptcha allows websites to make money serving this demand while blocking bots and other forms of abuse.

[xiboothrezi]

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How do you deal with this situations of huge loss on Altcoins?

first, we must be prepared to face losses, this is part of the risk when trading or investing. second, we must understand that not all investment strategies can be applied in all products, after all we have to be selective and really do in-depth analysis. third, we must understand that the crypto ecosystem is full of surprises, there are bulls and bears, we should not get too carried away with emotions and must focus on strategy. The strategy mentioned by op, I think is more suitable to be applied to coins that have a strong market position, such as BTC, ETH, BNB. even if there is a decline, it should be with the DCA strategy, investors will be happy because they can get more coins. the key is to be patient and understand the strategy well.