Waiting for your altcoin to return to grow trend :-)
I guess almost every trader knows that feeling - you do your homework on studying the coin and its upcoming milestones. When everything seems right, you hit that buy button on your exchange and the next day the coin is XY % down and next day another % down and so on. And you are repeating to yourself the holy words of investors " Never sell your coins with a loss".
Sticking to the golden rule leaves you with no other option than just wait.. :-)
Happened to you as well? Or am I the only one? :-)
Leave your comments below
Cheers and have a great day
has not happened to me yet..(not invested at all ) but i can still understand how frustrating that must be.. good luck
It means that you are a really good trader (or you don't trade at all). But I think it's the first option. Fingers crossed to not experience this soon.
oh man.... I've been sitting on doge and LTC for over a year before I could sell them with a profit again... BUT... yes... I did make a profit with those.
But this time around I am again sitting on a few LTC (that were on BTCe) and it looks like I'll have to hold these for a while yet again.
Also... I had a bunch of alts that I eventually didn't have enough patience to hodl... some would have been a loss either way, others I've sold too early and missed the return...
It's all kind of a gamble after all.
Exactly, long time waiting and hoping for it to return.
LTC is in my portfolio as well. Really stable one comparing to the others so I am sticking to it and playing the Pump & Dump game with other altcoins.
Hi @jammer2k I have a strict 10% stoploss for all my investments and my upcoming altcoin purchases will be no different. Sometimes you get your timing wrong and it doesn't work out but instead of letting that loss increase get the money out and invest it in something that's going up. Being able to let go and not get emotional about your trades will help you execute better. Nice post and good luck.
Thanks @dukexox So you have open positions with 10 % stoploss? where do you trade? Bittrex just buying altcoins? I guess there is no option for margin trading.
Yes @jammer2k that's the idea once I get going in the altcoin space. It's a strategy that has always worked well on the stock market. This however is a different beast, you don't want to be holding on an exchange so I guess buy with a stop loss and if it pulls clear by say 20% pull the coins out and put them in a hardware wallet for a later time. Something like that