Many got REKT :(

[CryptopreneurBrainboss]

Who did an exit strategy before the worst dip?

Those that saw the signs were the luckiest, First it was Elon tweeting negatively towards the market then the Chinese government saw it as an opportunity to carry on with their usual seasonal fud of them banning bitcoin related transaction so as to create fear in the market, cause a dump in the process and proceed to buy as much bag as their pocket can achieve.

The they proceed to clear the air on what their latest ban is all about and when you look closer it doesn't have any or that much effect on bitcoin operation in that region. But since the news came in a time of fear it'll definitely be viewed negatively and causes panic in the community.

This steps were chosen with intentions to manipulate the market, this isn't the first and obviously won't be the last therefore we should be familiar with this fud by now and use it to our advantage instead iofbeen at lose each time it does occur.

[Quidat]

Every large drawdown during a bull run is accompanied by many similar messages. Why? Because people go all in. They believe that once growth is going on, frantic growth, then it will not end, in any case now, they are greedy.
As a result, they get a click on the nose in the form of deep correction and the understanding that they have gone too deep into their pocket.

Bad practice, thinking that everything will push further ending it up losing the opportunities and losing their money,

they've got rekt due to their greediness most of the time, if they work accordingly and deal with further research

this kind of situation might avoided, getting rekt mostly due to lack of knowledge into something that you are unaware.

In my opinion, greed is the most influencing in situations like this. especially for beginners who have reduced their asset value, of course, they are in a dilemma between being held or sold. I think we have to have firm action to get through it, because every thing we do, of course, there are risks

Not only on noobs but also in other veterans or experienced as well because emotion is something that cant really be stopped when it triggers out.
This will vary on how someone is strong enough when it comes to will power and self discipline on things on where they are suppress out their emotions and able to decide well
on what would the things they should do on a specific situation and since this market is unpredictable then to think that even experience or pro's do still commit mistakes.
This will only just vary on how we do handle out on recovering our losses via means of good future trades.

[travwill]

The best strategy is to understand that the market is cyclical, and sooner or later there will be a recession after an increase or an increase after a recession.
In this case, the market stood still for a long time at very high levels, it was possible to assume a further fall, which means that it would not be superfluous to fix at least part of the profit in order to be able to survive this moment and buy at the right time.

[Hypnosis00]

The best strategy is to understand that the market is cyclical, and sooner or later there will be a recession after an increase or an increase after a recession.
In this case, the market stood still for a long time at very high levels, it was possible to assume a further fall, which means that it would not be superfluous to fix at least part of the profit in order to be able to survive this moment and buy at the right time.

Yeah, it is very important to understand the market situation and think about what will be the best thing to do. For so many people got rekt as they always in hypes, they forgot that any moment the market will fall. If they invest during the peak season, it is certainly imagining that they are in trouble now and losing. This gonna be the hardest time in our life and sometimes we think about selling in order not to lose it all.

[sheenshane]

This gonna be the hardest time in our life and sometimes we think about selling in order not to lose it all.

That's a big mistake if you have this mindset, it means that you already accept the potential REKT if you cut your loss.  In the first place, you should know that investing in crypto was include risk and when the hard correction will come, you aware that there might a chance the price will up or if we're in a bull trend, think it over that there's infinite growth of the market price, volatility will always occur in crypto no matter what.

The market now had shown a little price pump movement and even though I saw there's a struggle climbing the Bitcoin price of $40k up but at least we saw that there's a resistance in just a week.

[AakZaki]

That's a big mistake if you have this mindset, it means that you already accept the potential REKT if you cut your loss.  In the first place, you should know that investing in crypto was include risk and when the hard correction will come, you aware that there might a chance the price will up or if we're in a bull trend, think it over that there's infinite growth of the market price, volatility will always occur in crypto no matter what.

The market now had shown a little price pump movement and even though I saw there's a struggle climbing the Bitcoin price of $40k up but at least we saw that there's a resistance in just a week.

Someone who does Cut Loss is a person who is too panicked about the losses they have experienced. REKT potential in the crypto market especially in SPOT trading will occur if they do something stupid with Cut Loss. High volume is a risk that is already in crypto. prices will not continue to fall, there will be an increase for sure.

Who can hold back and not become weak hand, then he will get the benefits. Weak hand will only make REKT faster

[Lakai01]

Someone who does Cut Loss is a person who is too panicked about the losses they have experienced.
-snip-

There is actually no such thing as "cut losses". A "loss" only takes place when you sell, before that it's all just book money that has been lost (but of course also gained). Only when you actually realize the loss, you talk about a loss.

Getting into the predicament of having to sell at a high loss only happens when you have either invested far too much money in the market or suddenly need the money urgently, for both of which crypto is unfortunately, as you rightly say, the wrong investment path.

[affandi]

Someone who does Cut Loss is a person who is too panicked about the losses they have experienced.
-snip-

There is actually no such thing as "cut losses". A "loss" only takes place when you sell, before that it's all just book money that has been lost (but of course also gained). Only when you actually realize the loss, you talk about a loss.

Getting into the predicament of having to sell at a high loss only happens when you have either invested far too much money in the market or suddenly need the money urgently, for both of which crypto is unfortunately, as you rightly say, the wrong investment path.

Determining a profit-taking position usually depends on whether you are a trader or an investor, as it relates to the time frame. A trader can enter / buy crypto in the morning, and sell it in the afternoon before the exchange closes, so the profit target is usually lower than that of investors.

while the cutloss itself is to avoid bigger losses, which are caused by price movements that are opposite to those expected.

This is one of the risk management avoids of a more serious loss, although for the trader / investor this action is not very pleasant.

[kram31]

Many got rekt because they are lack of knowledge in doing trade in the exchange site platform mate.
But if you are full of idea and wisdom about in crypto trading or bitcoin trading I am sure that none of the
community here will not gonna rekt in the end for sure. Instead, they're gonna get a nice profit in the end,

[cryptoaddictchie]

Who did an exit strategy before the worst dip?

I didn't but what else I could do, there are lots of altcoins I hold that are down beyond 40% and I could accept selling it a loss. You would only loss once you start selling it during panic crash. Remember that if you sold during it then that's a tragic loss for us.

We can't deny that market is not always good but it can rebound anytime so why you are going to sell it and accept your loss? Just hold and don't mind the negative value on it. Its just paper loss.

[maxreish]

Who did an exit strategy before the worst dip?

I did not. And it wont makes me worry that much as Ive seen this market situation before. And what makes me confident about crypto volatility is that it tends to recover after few months and will go bullish again. If youre a long term holder and you have experienced many dips before, this wont affect your belief of acquiring profits.

[CryptopreneurBrainboss]

The best strategy is to understand that the market is cyclical, and sooner or later there will be a recession after an increase or an increase after a recession.

If you understand the market in this manner then it should be obvious to you that holding has to be the most effective strategy against all market condition. Not always outing smarting the market plays out as expected. The market sentiment can change any moment, living you stranded if you had just hope on the market playing out as you have imagined.

As the industry continue progressing we'll be having newbie falling to this same trap of bearish seasons after a rally of upward movement from the market. These uncertainties are what makes the industry very attractive to investors as it create opportunity to become financial stable.

[JooBra]

Who did an exit strategy before the worst dip?

I did not. And it wont makes me worry that much as Ive seen this market situation before. And what makes me confident about crypto volatility is that it tends to recover after few months and will go bullish again. If youre a long term holder and you have experienced many dips before, this wont affect your belief of acquiring profits.

Exit strategy is made with a goal that token will reach some price point. I look that in that way. The dips doesn't affect that. Also there are ways to make exit strategies in bull run and that is other thing in general.

[boyptc]

Many got rekt because they are lack of knowledge in doing trade in the exchange site platform mate.
But if you are full of idea and wisdom about in crypto trading or bitcoin trading I am sure that none of the
community here will not gonna rekt in the end for sure. Instead, they're gonna get a nice profit in the end,

There are those who got wisdom yet they still get rekt. Experience helps a lot in this market and that's what most are lack of especially those who have been rekt.

The time used to become familiarized with this market helps those who have been rekt before to avoid what has been experiencing by most of the newbies today. Just like me, I've been there and just continued and didn't become discouraged when I've lost a lot.

[Renampun]

Many got rekt because they are lack of knowledge in doing trade in the exchange site platform mate.
But if you are full of idea and wisdom about in crypto trading or bitcoin trading I am sure that none of the
community here will not gonna rekt in the end for sure. Instead, they're gonna get a nice profit in the end,

knowledge and experience is the best shield not to get rekt...

The bearish market really makes a mental decline and surely many will panic and sell, those who hold will definitely not rectify because they understand that the market is only temporarily correcting, there is nothing to be afraid of.

[TravelMug]

Many got rekt because they are lack of knowledge in doing trade in the exchange site platform mate.
But if you are full of idea and wisdom about in crypto trading or bitcoin trading I am sure that none of the
community here will not gonna rekt in the end for sure. Instead, they're gonna get a nice profit in the end,

knowledge and experience is the best shield not to get rekt...

The bearish market really makes a mental decline and surely many will panic and sell, those who hold will definitely not rectify because they understand that the market is only temporarily correcting, there is nothing to be afraid of.

Exactly, if you have enough knowledge or at least have the experience, then definitely, you should have at least mitigate during the sign of a looming bearish market.

But we really don't know that this is coming, so I doubt that many hedge their bitcoin. Maybe we still hold and hope that the bull run will resume, because that's what we wanted to see. So we really need to be very careful now, hard to predict where the market is going. We don't know if we have reach the top or not.

[andriarto]

Many got rekt because they are lack of knowledge in doing trade in the exchange site platform mate.
But if you are full of idea and wisdom about in crypto trading or bitcoin trading I am sure that none of the
community here will not gonna rekt in the end for sure. Instead, they're gonna get a nice profit in the end,

knowledge and experience is the best shield not to get rekt...

The bearish market really makes a mental decline and surely many will panic and sell, those who hold will definitely not rectify because they understand that the market is only temporarily correcting, there is nothing to be afraid of.

Exactly, if you have enough knowledge or at least have the experience, then definitely, you should have at least mitigate during the sign of a looming bearish market.

But we really don't know that this is coming, so I doubt that many hedge their bitcoin. Maybe we still hold and hope that the bull run will resume, because that's what we wanted to see. So we really need to be very careful now, hard to predict where the market is going. We don't know if we have reach the top or not.

for investors this may not be a problem. but for swing traders, maybe you still have to anticipate if the decline continues, because no one really knows where the market will run. therefore for me securing capital is the most important, because there are still tomorrows to look for profit opportunities

[Natalim]

Who did an exit strategy before the worst dip?

I did, and in fact, I'm still not buying now as I believe we will see more dip.

Bitcoin is recovering but it could be another bull trap, so I'll just watch and relax while waiting for another dip.

I don't use charts a lot, I follow the news and speculation, it's been so effective for me.
Maybe I could be wrong, but this is the game, we are in a big guessing game.

[Kittygalore]

I wouldn't say that it is the worst dip, the prices are still going high and 30k is still a lot of money, unless you bought above 30k then you have the right to be sad that the prices are going down and if you hodl long enough, you might be able to get a profit because the prices are going to go up.

[Mpamaegbu]

Fortunately for my I trade futures strictly. Whenever I notice a change in the trend or a slow-down in the uptrend. I switch from trading Inverse perpetual futures contracts to USDT perpetual futures contracts.

So no matter how deep the market goes, my initial margin never gets affected whether I am shorting or not. I also usually use reasonably tight stop losses

You must be really vast in trading cryptos, the way you explained it makes it look easy. I just stick to trading spot and don't do margin trading. It surprises me when people say dey got rekt trading. The only thing that can explain this situation happening within a short time is if traders trigger trades without stoploss and then allow the trades run with the belief it will revert to profit. I think as traders, caution should be exercised knowing well that trading is a profession and should be handled as a serious business. It's just the way we believe now that Bitcoin will rebound and head north, and then someone throws in all their life savings into buying it. This is a speculative business. Nothing is certain that it must happen the way we think it. Bitcoin could dip even from here for days before going up again. If that begins to happen that's where panic sets in for the trader and massive loss could ensue. The simple thing is that all should trade with caution, at all time.