Quote from: Herbert2020 on May 25, 2018, 06:25:50 AM

Quote from: payjoe93 on May 25, 2018, 05:33:44 AM

Panic for what?

Since i trade on exchange, panic will be friend everyday. If price going low, and we think will going up again but price going down more, it will make you to sell you coin immediately. It is called PANIC SELLING.

If i in condition panic, i decide to hold around 2 week, and sell it whatever will be.

you are not panic selling, that part is right but what you do is not right either! you are panic holding!
when price goes down every experience trader knows that they have to sell and you have to do it as fast as possible.
you should not confuse "panic selling" with "stop loss". these are two very different things. a panic sell is when the dump is already over and price is at the bottom and you sell so that you miss out on the recovery. but a stop loss is when you sell a long time before the dump has ended to prevent a big loss and protect your investment.
also the "panic holding" is when a newbie thinks if he holds that altcoin that is getting dumped he is being right and he will make a profit. but what happens in reality is that the newbie loses a lot of money, locks his funds in some shitcoin that got dumped and because he will wait a very long time for the recovery and finally he will panic sell eventually at a much bigger loss.

Hahahah yeah he is right, you are panic holding. The panic sell is totally different than holding 2 weeks a dropping down asset..

Panic is something everyone lives in their trading lives. This taste must be tasted once. Everyone do this mistake, but sometimes panic sell actually prevents you losing more money. So don't panic, use stop loss Wink

That's the key.