Big Dump

[Travel Standard]

I started selling. I was confused is it good to exit and buy low later.


My buying price was also good and investment  not much.


I was in a loss of around 300$ almost


It started gaining i stopped. Selling and decided to wait for it to come back. I am in 300$ loss currently  Total  investment  was 689$ all in spots currently.



What do you all say?

[undeadbitcoiner]

First of all Be yourself clear what you are planning with your money?
You are trying to trade coin and make some extra cash every week or you want to grow your portfolio in time without trading and just investing smaller amount every week or every month.
If you are a trader than it 10-15 hours earlier was best time to sell but if you are a Hodler than its doesn't matter when you invest only thing it maters is where you invest. if you go for Bitcoin and other better project you will never loose. so now its upto you what you wanna do.
Good Luck
Happy Investing

[Evilish]

Let me ask you this. How did you lose $300 (43%) out of your total investment of $689 when BTC barely dipped 5% and then rebounded fairly quickly?

Also, an advice for future. Never panic sell, ever. It never ends well. Formulate an exit strategy at the time you make any investment and stick to it. It will do you well in the long run.

[mk4]

Let me ask you this. How did you lose $300 (43%) out of your total investment of $689 when BTC barely dipped 5% and then rebounded fairly quickly?

Might've been shitcoins. Come to think of it, almost every single decent altcoin is just going up(slightly in BTC, mostly in USD) that it would need to take spectacularly bad picks to lose money in this bull market lol. Heck, even the crappiest BSV is up in USD since the past month.

[Wexnident]

You might have started buying at a bad time? That or you panicked and basically just sold your coins for a lower price for some reason. Anyone would lose out when they start to panic sale so you might want to decide an exit strategy. Do some planning about what to do when you see a dump or a pump and stick to it. Don't over greed, and also don't panic. Just took a peek at the market, and judging that you lost almost 50% I'm seriously guessing that what you did was a panic sell. You bought at a probably good spot and once the price started going down you immediately sold. Might as well calm down for a few days and try out a demo wallet before returning.

[noormcs5]

I started selling. I was confused is it good to exit and buy low later.


My buying price was also good and investment  not much.


I was in a loss of around 300$ almost


It started gaining i stopped. Selling and decided to wait for it to come back. I am in 300$ loss currently  Total  investment  was 689$ all in spots currently.



What do you all say?

This is called panic selling. There is no bitcoin dump its a correction which will see every now and then. This does not mean that you sell everything seeing the market taking little correction. If coins can go up 20-30% in a day, also expect them to dump to the same extent on other days.

[GreatArkansas]

Part of trading. You lose and win. That's why risk management is very important on trading. You should have a plan before entering a trade, you have stoploss, and price target and you should stick with it. Stoploss is one of the important to set always, losing $10 is better than lossing $100.

[cryptoaddictchie]

Actually it is. I tend to do a stop limit for my asset too bad forget to install it last night. Even got some pretty huge loss. But I'm not selling though it below my average buy price cause I know there is a time that it will go high again and all we need is patience. Not all are always win on the market sometimes we need to lose and that's normal.

If you always win and that's means your so efficient. So having a loss is typically part of trading.

[Robertshon]

It will pump soon. don't worry. It's correction time in the crypto market. correction is good for when the market will pump. This is normal. so don't panic. Just wait and hodl.
Read this article you will understand about correction

Article: https://coinmarketcap.com/alexandria/glossary/correction

[maydna]

This day is a downtrend after yesterday's bitcoin price increase for a while. It is a good time to buy more bitcoin, and if you still have money, you can buy it now or wait for another lower price. But if you don't want to buy for more, you can hold your bitcoin and don't panic because it is a correction of the price as usual. You can analyze more to find a good price to buy bitcoin, but if you doubt that the price will be back to the high price, you don't have to force yourself to enter the market. The price will increase again, and you should not worry and only waiting for a while.

[electronicash]

you are at a loss already which i believe you have bought at high price, so why did you sell now. you said you are in the spot which means nothing is lost to you until you sell it. the only way you could earn it back if is you buy in time when the price hit the bottom. now we don't know its bottom price yet. you can just hope it would drop low to $40k because if not then you're burned.

[Oshosondy]

What do you all say?

You have just begin to trade, I guess that you are newbie to trading. Trading is a step by step process, not what you can just get into. Use low amount of money at first, learn and risky low. Learning risk management is another important thing, you need to learn how to manage risk, or you will lose more than you think.

There are times the market will fail you, but there are many times you do not need stop lose or selling the unstable coin that you bought, you will need to learn how to use trading indicators, reading news and also making use of your sentimental analysis. All these will help you to know how to trade.

Each losses we experienced is an experience that will make us know how to trade better.

[Hobo66]

You have bought at bad time Manipulation from the whales .shifted the market heavily!! And again you sold at bad time
Don’t panic when coins are in correction mode.tl That was expected in the market it will start to recover over the next 48 hours

[blockman]

If you don't want to be associated anymore with the market then just have your exit, no one will stop you from doing it. But if you don't want to exit and you see that there's more journey for you on this market then always take the profit and buy at the dips.
No extra strategies or specials, just buy low and sell high.

[davis196]

Do you mind telling us what shitcoin have you traded so far?Is this a secret?
Losing money is a big part of learning how to trade.If you are really motivated to become a day trader,then you will have lose even more money.If you can't afford to lose the rest of your trading capital,then just quit day trading,or buy BTC and just HODL.
If you want to continue day trading,maybe you should have a break and try to learn more theoretical stuff about trading.Read books,watch videos,etc.There is more than enough information about trading,that is available for free.

[ethereumhunter]

Just hold your bitcoin, and do not panic because the price will be back to the high price. You have your time to buy back bitcoin now, so you can have more bitcoin, which I am sure that can give you more profit when the price increases. I hope you can monitor the market, so you know when the price can start to grow, and I think the next day or this week can be another rally for bitcoin. You need to prepare yourself to act based on the situations, and I think you will see a chance to make a profit later.

[ashmodeus]

nah , i also quite shocked when i wake up this morning, but well ,what i can do ?, i mean , i do that on spot trading, i have no debt on margin,i have position open on lev trade. if i left some USDC on my portfolio, probably i will buy more on that morning, since basically bull still on control , still many many positive news comes , just patience and your portfolio will back for sure, or even getting bigger.

[Julien_Olynpic]

The author most likely meant that he had not a loss but a drawdown. That is, a temporary decrease in balance. Probably the best solution would be to wait out this situation and wait for the balance to grow.
    And this strategy is more like trying to jump from one train to another. Anyone who does such things will sooner or later break his legs.
    If you bought a good thing at the right time, then you need to sit and not twitch. Time is working for you.

[sujonali1819]

Yeah, after woking up today I surprised after seeing the dump. Also find a possible reason of the dump. Iy maybe for this: https://news.bitcoin.com/us-government-corporates-replacing-dollars-bitcoin/

But I don't sure it’s a valid news or just rumor. Probably rumor what I seen somewhere.

Btw if you did not exit your trade then keep it open and hope market will recover soon. (Already done though). Keep patience hope will recover your lose with profit. Good luck

[Furious 7]

Don't panic too much this is not a big dump you can see the price is still stable and it's just a little correction in my opinion, I don't know if it's a loss in altcoins or other top coins because in my opinion it's the safest and it can recover your losses so far.

This is in trading everything must be taken at risk, therefore I think you are too quick to be surprised and conclude by selling the whole thing and want to say out, why is that? enough to strengthen your mentality I'm sure all of it will pass well.