Post
Topic
Board Trading Discussion
Re: what if faced with such a situation and what your backup plan is
by
Virtual miner
on 04/03/2018, 16:26:10 UTC
whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.
Trading is associated with such kind of risks. One must understand that these risks are sure to accompany any kind of trading. So it's always advised to embrace *patience* while trading.
So coming to your question, it really is a subjective decision. Because it varies from person to person and situation to situation. There are some traders who can wait till they get sufficient profits in terms of price rise. And then there are certain others who are quite impatient and start selling off their holdings as and when they see a minimal price reduction because they are not willing to take up the risks.
So if you have some fixed source of income, i would suggest the first optiom that is waiting for the price hike. But if you are short of funds you cannot manage to block your funds, you ultimately have to sell the holdings and bear losses.