Lorokan (OP)
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April 17, 2021, 06:08:18 PM |
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Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor
What do you think about this circumstance ? am i overthinking this ? share your views.
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revilo
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April 17, 2021, 06:46:14 PM |
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Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor
What do you think about this circumstance ? am i overthinking this ? share your views.
This is easier said than done. Sometimes others know more than you and dump for a good reason. The right way to go about it would be to acquire as much quality information in the shortest amount of time possible to make a decent judgment. Coins can crash for very good reasons. Better be up to date about the assets you hold or otherwise you'll act without awareness of any fundamentals. Ignorance isn't just good advice when a coin dumps.
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Review Master
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April 17, 2021, 07:17:59 PM |
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What do you think about this circumstance ? am i overthinking this ? share your views.
It can be good for only those coins/tokens which have great fundamentals and strong support level on price chart. But it doesn't make sense to hodl any coins/tokens which is influenced by famous persons and novice are pumping by being into fomo. BTW, we need to control our emotion to be a successful in any situation whether it's bull market or bear. As always, DYOR first and don't invest into shitcoins even if those shitcoins pump a lot. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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izsara
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April 17, 2021, 07:21:33 PM |
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The first mistake of a beginner trader is when they start buying when the price is rising (pump) and buying it when it is at its peak and they start to panic when the price is dumped so they immediately sell their assets even though it can hurt them. This is my personal experience because I was like that before
advice for beginners, before we trade, we should first know about the ins and outs that we will work on when we started to like crypto, first learn what crypto is like because everything must have consequences
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jacafbiz
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April 17, 2021, 07:23:29 PM |
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The most important thing when investing or trading is to have entry and exit strategy, once you stick to this you will be fine, at time a coin pump and there is something in you telling you that it is likely it goes up more so leave a small portion for this portion. But when you have a sense that a coin is overvalued just sell and run because the dump is always mega dump and you can lose all your gains
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blockman
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April 17, 2021, 07:25:59 PM |
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You're not overthinking because that's the number 1 problem of most investors and newbie traders. The experienced traders won't panic sell if they've bought a coin that they really are familiar with. And the wrong strategy that they're buying at the pump should also be changed but you cannot take them for granted because that's how they started. In the end of it, they'll learn through their experiences and won't commit to panic sell.
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isaac_clarke22
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April 17, 2021, 07:41:17 PM |
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No you're not, OP. Actually it is common bad habit actually whenever their "hyped" coins or like whale dumps, they will do a panic sell along with everyone, but then whales would just hunt their sold coins turning it into their favor for future purposes.
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michellee
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April 17, 2021, 08:06:00 PM |
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If you are in that situation and conditions, I do not think you can stay calm and not panic because it is hard to accept the reality in front of us. Maybe we panic for a while but then we remember that we need to stop the panic and search for the other way to prevent the worst thing. That is why we need to have the experience to help us find the way out of that situation. It is not easy as it said but it needs more practice and more experience to remain calm.
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Joca97
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April 17, 2021, 08:23:09 PM |
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Sometimes you should sell.If you have seen it in last few months for example ETH it jumps and dumps and then jumps again Many times i could have bought the dip and earned more.But i was scared of not dumping on highs.I earned overall profit.But selling and buying could have earned me a lot more
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Ulven
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April 17, 2021, 08:25:43 PM |
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Yes, you should always focus on strong and top-ranked currencies in order to avoid panic during the dumping process, in fact trading needs discipline and emotional control. The stronger and more convincing you are that the currency will be profitable, the more likely you will be. So why panic?!!!
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Maslate
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April 17, 2021, 08:37:56 PM |
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Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor
What do you think about this circumstance ? am i overthinking this ? share your views.
You are not, that's just the reality in crypto, once the bear market comes, we will witness panic selling and now we are in bull market, we are seeing panic buying, it's just how the market cycle of crypto is happening, so it's just easy to predict if we are just patient enough. I've been using a simple strategy which is to buy during bear market and sell during bull run, like I said, it needs patience especially on waiting the bull run. This time is suppose to enjoy selling already while newbie are buying.
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Dewi Aries
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April 17, 2021, 08:40:59 PM |
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Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor
What do you think about this circumstance ? am i overthinking this ? share your views.
Actually you're right, but maybe for some people it is hard to resist panic or fomo when we see a coin pumped/dumped hard. I until now still can't control my emotion although trade in spot trading which make us can hold the coin as long as we can and no liquid or margin call, etc like in other style of trading.
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S4VV4S
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April 17, 2021, 09:01:01 PM |
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it's a tough thing in an emotional trading system always rely on shouldn't be careless in buying or selling tokens because it can make us hesitate, most beginners they see coins that are going up then buy them once the price goes down they sell back my view can hold a token or coins that have good potential continue to hold when the price drops in this situation, we can adjust the chart in trading on each token that we trade patiently that's the key
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7788bitcoin
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April 17, 2021, 09:11:16 PM |
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Sometimes when a coin pumps hard and starts to dump, novice will panic sell due to fear or other reasons, while the whales will buy up the dump and mop it all and then pump it even harder.... So don't always panic sell, be in control of your emotions, although it isn't easy, but with practice you will perfect and master it.......Every new trade is a journey and a new destination...... Always dyor It depends upon multiple situation, the coin you invested expecting a pump and if you invested to ride the pump then you need to get out as soon as possible as it will be hard to predict when the next pump would be and you do not want your assets to be stuck for a long time, you can always book your profit or level your capital and wait for the bottom and then plan on reinvesting again.
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jahepahit
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April 17, 2021, 09:28:00 PM |
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its not so easy especially when the profit is kind of huge to the eye. the thought that comes to your mind is to cut lose and not lose it all because it can keep on going down which will be more painful. but with determination and believe in the project you are holding, you will always find reasons to hold even if there is dump at any point.
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crzy
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April 17, 2021, 09:33:40 PM |
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This is how volatile the cryptomarket is, in just one snap all the pump will fade a way and we’ll back into a big pullback, now its happening and I’m sure even if we tell not to panic people will still do the things that is out of their plan because of their week emotion.
I just want to put DOGE as my example, after hitting its new all time high the price went back for almost 50% dump, and I saw a lot of people on social media panicking which is not good at all simple because they don’t have any stop loss price and they are just joining the hype, we tend to panic if we don’t have a plan at all.
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Rengga Jati
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April 17, 2021, 09:36:08 PM |
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A newbie, may not know how to get the right choice and decision because mostly, they only follow what their friends or public figures that they are following. Buying a coin without any DYOR, moreover at the top price will always make someone new in the crypto world to be panic once that price is going down. although it is actually a very usual condition in the market where the price will be a market correction after the pump, for them, they may be not ready. That is why it is always said that whenever we are going to enter the crypto world, we must be ready for the risks, have good management of risks and emotions, also funds.
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asriloni
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April 17, 2021, 09:57:13 PM |
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A good mentality can be built when someone was facing so many problems and in crypto case, someone will have a very good mentality when he already faced so many difficult situations. That circumstances are always happening in crypto. So many old - pro traders were also starting from the newbies and this newbie was getting so many experienced and started to be professional traders or even whales. It's always started from nothing to something. You are not overthinking about that and don't worry
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Little Mouse
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April 17, 2021, 10:32:28 PM |
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Well, this is true and I would only agree with this statement in a bear market. See for example, last year when BTC dumped to $3800 or so, people had panic sale but they are the loser now. On the other hand, look at DOGE. It has pumped to $0.45 or higher, now it’s getting dumped. It's very possible that we soon will have the end of the bull cycle. Don't you think DOGE will not recover till the next bull market? That's why I think panic sell is so bad for bear market but in a bull market, if you are in good profit, sell and enjoy the profit.
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Ridwan Fauzi
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April 17, 2021, 11:06:08 PM |
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Each investors will certainly have their own strategy, we don't know the exact whales strategy as you have mentioned. When some retail investor is punic buying then the whales will try to pump and otherwise when whales is selling the coin then retail investor will start buying. And I guess that situation is not always right because pump and dump will be based on the situation.
I mean, whales will pump a coin when there is something good (good information) come to the coin itself. So as they will confident to buy the coin in order to make many profit. Take a look when the bearish season come, how many altcoin that getting pump? I guess there is nothing altcoin that getting pump.
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