Quote from: jamids on May 21, 2018, 03:58:36 AM

Quote from: showbiz111 on April 28, 2018, 03:47:54 PM

Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??

I am not yet a successful trader but I aim to be one. One thing I do so that I can prevent further losses is to have a trading plan always. I cut my loss when it reach 10%. I don't want to wait for long and I saw some coins dip as much as 90% so to avoid further losses, I would just cut it when it reach that price. I have a risk reward ratio so even if I cut my losses, I would just wait for it to settle in a possible support and go in range and then find a good entry price. I know that others may advise not to sell because it is just unrealized loss but I don't intend to wait that long. I am not just a long term hodler.

Nice input mate, Thanks for sharing. I will try to follow your strategy as I'm also learning how to do day trading but I'm afraid to take a risk as losses will always there considering the market situation and I hope that I can master this and gain profits soon.