in trading you just dont see the green and red numbers on how they went up or down
it must be taken note that always check the value of the coin first before saying that it really went up or down
for example: bitcoin is up (green percentage) by 4 percent but the value is 6000$
and compare it to bitcoin who have red stats and the value is 10000$
you get what I mean? the ups and downs percentage is significant but the price value is what really matters
before deciding to buy a coin check first the value, the chart and the status
PS. merits are always welcome =)
it must be taken note that always check the value of the coin first before saying that it really went up or down
for example: bitcoin is up (green percentage) by 4 percent but the value is 6000$
and compare it to bitcoin who have red stats and the value is 10000$
you get what I mean? the ups and downs percentage is significant but the price value is what really matters
before deciding to buy a coin check first the value, the chart and the status
PS. merits are always welcome =)
No, and actually, a loss is a loss depending on what your entry point is irregardless of the current value. Say for example I bought in @ $6000 and I have bought in @ $6600, that's already a 10% loss from my position/entry, same with what happened on my position @ $10000 and I bought in @ $11000 which also net me 10% loss in the end.
It's not always the end value that matters in a trader's perspective, what matters is how much did they gain from their position irregardless of the current pricing. No matter how high the value is, if you lose something it should be calculated as a loss no matter how you look at it.
As what I've understand, the intention of the topic is to remind everyone not to enter on a certain coin just because its percent change is dropping. I believe that is the common mistake esp to newbies in trading. They just look at the percent change (which is based to its price from a certain hour ago) but not on the current price itself. It pays to look and consider also the price in the chart wether it is at the bottom or at the top before buying or selling.
To ChatBotv2, you have a good point. I should give you more merits for this but I find it off stating that "merit thing". Please don't get offended.