Getting losses, Take a break and just focus on Bitcoin.

[justdimin]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

This is a great approach to bitcoin and crypto investments. I mean if you are not sure about what to do, just investing into bitcoin for long term should be good enough .I always have some bitcoin aside, never invest into anything and ignore bitcoin, no matter how much I invest into something else, I always have more invested into bitcoin, that is always number one and if I am going to invest into anything else, first I invest more of that into bitcoin and then invest into another thing.

Like let's say if I am going to invest 100 dollars into litecoin, then first I invest 200 dollars into bitcoin and then I invest 100 dollars into litecoin. Keep that going, at all times, never stop investing into bitcoin and always end up investing into bitcoin first. This doesn't mean that you can't invest into anything else, you can always invest into something else, but always keep the bitcoin one going strongly if you want to make sure it is going to do better in the long run.

[Mr. Magkaisa]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

       -   When you enter the trading sector, don't expect there to be no risk; instead, we should be cautious and prepared for the unexpected because money is involved because you will be purchasing crypto assets. So focusing solely on Bitcoin is insufficient for me.

There will be various crypto assets that have market potential and can enrich us in the future. You only need to select the ones ranked in the top 20 to ensure that we make a profit here.

[bluebit25]

Futures trading always has many potential risks because no matter which trading pair you choose or a place that is considered reputable, prices can easily be liquidated when the floor wants to manipulate the player's position.

I'm not sure what people who do careful chart analysis think about applying it to this market, sometimes I feel like those things are just sugarcoating the point of applying it to a place with low capitalization like crypto.

IMO, the trading floor always wins, just like the house always wins the gambler. So sometimes these things exist just as a way to lure investors into evaporating their money faster.

[Ruttoshi]

Your friend is gambling and not investing. This is because he chose to trade in altcoin that is very risky and was made to scam people. It is very hard to make profit in bitcoin trading, talk more of altcoins that they are pump and dump project. He will run at big loss if he doesn't stop trading on those shitcoins that within a twinkle of an eye it has become worthless.

Since your friend has funds to trade on altcoins, whey don't you tell him to invest in the real game which is bitcoin and hodli for long, so that he can make profit and enjoy his profit. It is not good to trade when you have low knowledge on bitcoin trading because you will definitely run at loss. It not good to trade on altcoins because they are centralized and easily manipulated by the dev.

[DabsPoorVersion]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

If your friend does really know how to trade in futures and set a stop loss, he won't end up from $150 down to $12. He should know how to do risk management, maybe your friend just continues to set a position without analyzing the market.

Futures trading is really risky, even if you advised your friend to focus only on Bitcoin. If he lacks the knowledge, experience, and capability to perform technical analysis, this scenario will only happen again. Futures come with a higher risk and are not for beginner traders. Better try to do spot trading and practice his trading skills with that or through demo trading.

[Fiatless]

Bitcoin trading is also very risky, although altcoins are more volatile and riskier. Just tell him to hold, that is the best for now. I have traded bitcoin and altcoins, they all have their own risks and they are all for experienced traders. I remember a time I was new to trading, I traded bitcoin with leverage and I lost so much.

Everybody will not be a long-term investor because they might aim at making short-term profits. Many people are not patient to wait for a long term to see their coins grow. Such people will choose to trade. However, engaging in trading without requisite knowledge will lead to unexpected losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

You can only suggest to your friend and let him make his decision. Some people can take the risk of investing in altcoins because of several reasons. Investing $150 in Bitcoin might not bring a large profit, so he might just want to gamble it with altcoins. You can advise him to consider using DCA to stack  bitcoin.

[cafter]

Your friend is obviously trading with very high leverage that the $150 became $12 after hitting stop losses.
Bitcoin is risky to trade with leverage but trading altcoins is more riskier than bitcoin, trading altcoins with high marketcap is safer than low marketcap altcoins and they follow bitcoin's footsteps, your point is good that stick to only bitcoin because it is less volatile and less likely to manipulated by a single person or group of people.

[Ale88]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

There are several missing information in this post: does your friend have any knowledge about the risks involved with trading? Are $150 a lot of money for him? Is he doing this in order to make money that he actually needs or is he just playing around? Every situation is different, the important thing is to know what you are doing.

[wallet4bitcoin]

Losses is part of the perks that the blockchain space presents. In investing generally, investors are expected to prepare for loses as its part of the possibilities that exists, although its may be addressed to be insignificant or possibly zero but if you consider the looses to be too much, it's time you take a break and just observe the trend and know when to get in again, for traders.

For investors, you might want to buy Bitcoin and just hold it as the loses are impartial until you sell at a loss.

[_BlackStar]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Big losses are not only obtained from altcoin trading - but also on bitcoin especially because your friend took advantage of future trading to make a profit. High leverage can increase the risk of liquidation for anyone so you are always advised to consider the risks and manage them well.

You can suggest him long term investment instead of trading futures with bitcoin. Bitcoin price volatility tends to be high so far which can also increase the risk of liquidation for it - but it is possible to make commensurate profits from futures trading if it is able to manage the risks well. Tell him not to be greedy - it will be very possible for him to get a total loss.

[Silberman]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Stories like that are a dime a dozen, people like your friend see some traders posting great results by trading altcoins and by using leverage and immediately they assume they can get the same results, they do not stop to think if the information that is being posted is real at all, if the trader in question was just lucky or if they are simply that good and it took them years to reach that level, but in any case it should have been obvious it was impossible for them to achieve those kind of results on their own and yet by trying to emulate them they are setting themselves up for failure.

[Wakhid Mukti]

Futures trading is really risky, even if you advised your friend to focus only on Bitcoin. If he lacks the knowledge, experience, and capability to perform technical analysis, this scenario will only happen again. Futures come with a higher risk and are not for beginner traders. Better try to do spot trading and practice his trading skills with that or through demo trading.

You could say my friend is experienced, he has been trading for a long time, forex and cryptocurrency. However, his Money Management is not perfect, I am sometimes surprised by the Margin used.

And the bad news, yesterday he was liquidated 🤦‍♂️.

At least I suggested Bitcoin futures for him to focus on just that one pair, I'm worried if this continues and he is still determined to trade altcoin futures. We know that altcoins do not always follow Bitcoin. However, if Bitcoin experiences a decline, it is certain that altcoins will experience a sharp decline.

There are several missing information in this post: does your friend have any knowledge about the risks involved with trading? Are $150 a lot of money for him? Is he doing this in order to make money that he actually needs or is he just playing around? Every situation is different, the important thing is to know what you are doing.

You could say he has experience, he has analytical skills but is still inconsequential in Money Management. He's a businessman. Sometimes he trades and he uses any profits he makes to pay off the bank debt he has to build his business. I know the business is running smoothly and has good profits. However, I sometimes feel annoyed with his haphazard trading style, where if he was serious and disciplined he might be able to get stable profits.

[Fundamentals Of]

At least he used stop loss. Had he not, everything he has would have been liquidated. But he probably used too wide margins or too much leverage that what he had left was only $12. Leverage trading is to be avoided if possible. It's more or less like gambling. It's highly risky.

But your trader friend sounds like a beginner. What's he even thinking of taking a long position in several altcoins when he avoided playing with Bitcoin in the first place because it is increasing in value? Has he not noticed that Bitcoin is bullish right now? It's almost common sense not to bet on altcoins when Bitcoin is bullish.

[Mauser]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Sounds like your friend got lucky with his stop loss order and only lost 138 USD which is not really a lot for futures trading. The future market is much more volatile than the spot market and with large price movements this can quickly lead to bigger losses. Especially when trading illiquid alt coins, it could happen that the stop order doesn't get filled immediately and the losses will even be much higher. A stop loss order is no guarantee that we will get out of the market at that particular price. It also depends how much profit your friend made before is loss. If he was up 1,000 USD, then a loss of 13% isn't that bad. Another issue with your recommendation of switching to the Bitcoin market for trading is that there is no guarantee he is going to make more money with it. In the last month Bitcoin went up 30% and entering the market now means we following the herd. With the world economy slowly cooling down the risk of a correction in stock markets is still high and could spill over to the crypto markets as well. Having a good risk management with stop loss orders is important in any trades we are doing.

[GigaBit]

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Most of the investors in altcoins are greedy. They give more concentration than bitcoins and invest in altcoins. In one stage they lose their money. There are also investors who blindly hold on some alt coins for years but at some point the coin does not improve and they lose their investment. So no risk should be taken on any such platform for the purpose of temporary profit. If someone does something like that, he should take time to think again. I believe when he can control his greed he can come back to the right place again.

[bbigtart]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

The advice you gave to his friend was very good, you indirectly saved him from greed and made him able to control his emotions so as not to cause further losses. Not a few people choose altcoins because they want to chase big profits but they don't understand the risks. It's true, all investments have risks without Bitcoin. Such risks would not occur if we did not sell bitcoin. In contrast to altcoins, if the price has fallen then it is very difficult to rise.

In the past I also invested in altcoins because I remember my capital was small, but now after hearing strategies from friends here that we have to use the DCA strategy in buying Bitcoin. In my opinion, small funds are not an obstacle to investing in BTC, because the important thing is that we continue to be consistent in being able to buy it. With dca we can collect btc little by little until the amount is large which will provide big profits in the future.

[posi]

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Most of the investors in altcoins are greedy. They give more concentration than bitcoins and invest in altcoins. In one stage they lose their money. There are also investors who blindly hold on some alt coins for years but at some point the coin does not improve and they lose their investment. So no risk should be taken on any such platform for the purpose of temporary profit. If someone does something like that, he should take time to think again. I believe when he can control his greed he can come back to the right place again.

But OP's friend lost money trading futures, so whether he used bitcoin or altcoins, there would be risks and the possibility of big losses. If talking about investment, of course bitcoin will be much safer but the profits will not be comparable to altcoins. Everything is proportional, low risk means low profit and high risk means high profit.

Investing in altcoin or bitcoin, the important thing is knowledge, experience and skills. If you have no experience investing in altcoins then you should stick with bitcoin, but if you are willing to take the risk and are confident in your knowledge. Why not try altcoins for more opportunities?

[SmartCharpa]

Recently I was contacted by a trader friend, who told me that his trading position in futures was hit by Stop Loss. He played in altcoins, because Bitcoin has recently increased in value. My friend dared to take a long position in several altcoins with capital of $150, and after hitting a stop loss the remaining funds were $12.
I told him to stop and close the entire position he had just made. I want my friend to stop for a moment to calm his mind and emotions so as not to add to the existing losses.

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Investing in bitcoin carries risk as well, but I refer to the risk in bitcoin rather than altcoins because, no matter how long my money takes, I won't lose it. With certain altcoins, however, we cannot ensure that their price will rise when it falls. Using the $150 that your friend used to purchase altcoins. Even though the price of bitcoin is high, it's still not bad for him to use the money and invest in it. We can buy what we can afford to buy, not the entire bitcoin. Since then, if he decided to take the risk and invest his money in bitcoin, he wouldn't have lost it because the risk associated with altcoins is greater than that of bitcoin. What will he do with the $12 that remains? You should keep trying as best you can and advise him to stop investing in altcoins for the time being. He should try bitcoin and see how it turns out; I think he'll like it.

[taufik123]

Most of the investors in altcoins are greedy. They give more concentration than bitcoins and invest in altcoins. In one stage they lose their money. There are also investors who blindly hold on some alt coins for years but at some point the coin does not improve and they lose their investment. So no risk should be taken on any such platform for the purpose of temporary profit. If someone does something like that, he should take time to think again. I believe when he can control his greed he can come back to the right place again.

It's the result of greed to make a big profit in a short period of time.
Seeing how the performance of new altcoins or memecoins that have just emerged and hype,
experiencing hundreds to thousands of percent increases in just a short period of time.

Even though the performance of altcoins or meme coins like this will only last a short time,
and will be abandoned when there is nothing else to develop or the developer withdraws all liquidity to enrich himself.
It happens very often, many altcoins and memecoins end up with tragic stories and harm many people.

Rethinking and seeing how the main potential in Bitcoin will be more profitable in the long run,
requires patience to wait for the annual cycle that continues to occur, this cycle may have some similarities.

But it's not that Altcoin doesn't have potential, but Altcoin is quite risky for those who can't do research,
for old altcoins like ETH it must be the second investment after Bitcoin.

[LesterD]

And I suggest that if it starts again, it's best to just play Bitcoin and don't play with too many different types or play too many altcoins. I know that sometimes altcoins are able to provide greater profits than bitcoin when bitcoin experiences a 10 percent increase, but altcoins are also able to provide greater losses.

Most of the investors in altcoins are greedy. They give more concentration than bitcoins and invest in altcoins. In one stage they lose their money. There are also investors who blindly hold on some alt coins for years but at some point the coin does not improve and they lose their investment. So no risk should be taken on any such platform for the purpose of temporary profit. If someone does something like that, he should take time to think again. I believe when he can control his greed he can come back to the right place again.

But OP's friend lost money trading futures, so whether he used bitcoin or altcoins, there would be risks and the possibility of big losses. If talking about investment, of course bitcoin will be much safer but the profits will not be comparable to altcoins. Everything is proportional, low risk means low profit and high risk means high profit.

Investing in altcoin or bitcoin, the important thing is knowledge, experience and skills. If you have no experience investing in altcoins then you should stick with bitcoin, but if you are willing to take the risk and are confident in your knowledge. Why not try altcoins for more opportunities?

That's why it's better if he would try to learn more first before he proceeds back on trading. Even if he focuses on trading only in Bitcoin, there is no guarantee of making a profit unless he learns more about trading. On investing, focusing on Bitcoin is really better. Investing in altcoins needs more research and it's too risky but yes, there are more opportunities in altcoins with higher multipliers if you trade altcoins with low value.