Post
Topic
Board Altcoin Discussion
Re: How to escape loss as an altcoin trader
by
Wingo
on 26/08/2020, 17:32:03 UTC
I want to assume that there are few people, who make several profits from trading altcoins, but sell their profit to bitcoin, and then over time while holding bitcoin, it dumps and their profits dips alongside bitcoin.

Why not do it this way ?
Since you trade mostly in altcoins, as soon as your make your profits, sell them to stable coins or fiats, close that trade chapter.

If you are passionate about hodling bitcoin, always convert to usdt or other stable coins and be patient for a fair entry point. Because the market isn't running away

What do you think everyone ? is there a better pattern that can be practiced?

I am open to more suggestions.

You'll most likely to experience losses in trading. One out of five of my trades are usually just the successful trade I make, but I make sure that one successful trade recovers all my losses on other trades plus the profit.

I advise that you always stick with a plan when trading and don't go on buying some coin just because someone recommends you to buy it or just because the hype is great. Don't speculate, make your own analysis and stick with your strategy. When you experience loss, you will always learn. And the strategy for every trade will just continue to improve.