Limit Sell or Delete Binance? Seeking Experienced Traders’ Guidance

[Ocham]

Crypto is really taking a toll on me; I’m down nearly $500 and I don’t know what to do . I’m very panicked and confused. Most of my losses happened because of over-trading buying and selling too much. When the market goes up a little, I buy, thinking it will continue rising, and then when it goes down again, I panic-sell. Then when it rises a bit, I buy again. I’ve been losing a lot this way, and I don’t even know if I’ll ever recover  .

Now I’m thinking of using a limit sell and deleting my Binance account. Will that cause any problem? If the price hits $75, will it auto-sell, or will deleting the account cause issues? I’m seeking advice from experienced traders.

[Hatchy]

What you are doing right now isn't trading, you are gambling your money on the market. Why don't you get the right knowledge first before trading to make profits from the market? It doesn't make sense to jump in on price when you see the market buying or selling..there are certain criterias you have to agree with from your knowledge and expertise before your click on the buy or sell button. You are wasting capital, which can be used to pay for mentorship or get a good crypto trading course that you can study even in the smallest.. my advice for you is to for now avoid trading the market and take enough time to study.. the market is not a place for guess work..

[Odusko]

Now I’m thinking of using a limit sell and deleting my Binance account. Will that cause any problem? If the price hits $75, will it auto-sell, or will deleting the account cause issues? I’m seeking advice from experienced traders.

Placing a limit sell order of $75,000 BTC and deleting your binance account won't work the way you expect it the order will be cancelled at point of request for account closure, but the best thing to do is to place your order wait for it to be executed withdraw your money and then walk away.
Your experience with trading selling at wrong time and buying the at fomo is not so much different from the experiences of other cryptocurrency traders,  most especially the newbies who still allow emotions to control their trading decisions without taking into account the volatility nature of cryptocurrency market.

[NotATether]

What was your original position? You said you were down $500, so I am suspecting it might have been over half of your position.

If you really don't want to do crypto any more and just want to take your money out, just do a market sell. A few hundred (what it sounds like to me) isn't going to make a dent in the market price. Then you can delete your account.

[michellee]

You don't learns much about trading and just buying when the price starts go up a little and you don't analyzing the coin moving and just buy randomly.

We don't know the right solution. Maybe we can suggest you to calm down for a while and not panic selling while you can monitor the market moves and wait for the price reach $77k or even higher so you can sell it.

[Oshosondy]

Now I’m thinking of using a limit sell and deleting my Binance account. Will that cause any problem? If the price hits $75, will it auto-sell, or will deleting the account cause issues? I’m seeking advice from experienced traders.

You do not want to trade again? Is that the reason you want to delete your Binance account? Do not do that, you do not need to delete your Binance account. Just place your limit order and if bitcoin get there, go to Binance to withdraw the coin to a noncustodial wallet.

Or you mean you want to delete the Binance app and not your Binance account? Delete the Binance app and not your Binance account will not affect the order that you placed.