Have you ever tried this method to cut losses in trading?

[Brushless4500KV 4214]

Most traders have experienced the following situation in their trades. Suppose you buy a coin at a certain price and decide to hold it for some time to earn profit. You wait some days but suddenly the price starts going down and if you are a panic seller, you may sell your coins at a lower price and lose money. If you don't panic, you will hold them more until the price rises again but you may have to wait for a long time.

But there is another solution to save you time and money. When your coin's price is going down, you can convert it to another coin whose price is going up. By doing this you can save your investment and cut losses. For example, if bitcoin price is decreasing but Litecoin price is increasing, you can convert your BTC to LTC immediately to stop losing more money and even gain some profit.

Have you ever tried this method?

Edited December 24, 2019 by Brushless4500KV

[Sagor 500]

As i know when the price started going down then we should hold it . mainly if we become panic seller then we cant make profit.

[Akbor 1042]

Panic sellers cant make a profit they may loss their asset some times. if the price started going down after buying the coin then should wait patiently to avoid loss.

[nicolas1234789 2566]

Bitcoin movement always give impact into altcoin, if I use your strategy my fund will not survive. The right method is cut loss or keep buying use martiangle money management as basic calculation. I'm sorry if I not agree with your strategy, keep sharing and thank you.

[Maaz sultan 265]

For the panic seller they sell their currencies at low price quicker but If we hold long with patient we can make quite a good profit as compare to those how get panic and sell their currencies to less price.

[Opinder 1310]

But there is positive correlation between the price of most coins. For example when price of bitcoin falls, other coins price also falls or vice versa. So in this case this method is not useful properly.

[Jimmy 437]

That was good methode but it's depend on the market too i think, If the market was really for both coins we only get some loss too and i think some people already aware about this one, Very helpful anway thank you for sharing with us dude!

[neurolicious 462]

It may work and may not work. You never know when the opposing coin stops rising in price. It surely helps to reduce the losses in some cases but not always. Good tip for the newbs nevertheless.

[Rudro88 371]

I did not use this method to reduce the loss in trading, but from now on I will use this method because I have often lost trading.  As a result, I needed a correct method that I could find now.

[Brushless4500KV 4214]

On 12/27/2019 at 1:26 PM, Digicoin said:

If I get you clearly, you are talking about investing  in bitcoin and altcoin. The truth is the prices in the market can be a bit difference but if someone is losing in bitcoin it is possible the person can lose multiply by 2 in altcoin. What you said can not work. Have you tried it before?

No, I didn't refer to bitcoin and altcoin specifically. I was talking about all coins in general. You know well that anything can happen in crypto market and prices don't follow fixed patterns all the time. Sometimes you may buy ETH for example and its price may start going down but at the same time you may notice XRP price is going up slowly. So, what is the best decision in this situation? Surely, I will switch to XRP as fast as I can. In this example, XRP may not bring you considerable profit but at least it can save you from losing a fortune when ETH price is collapsing. This was just an example. This can happen for many other trading pairs. I have never lost big money so I didn't need to cut losses but if the same situation happens to me, I will definitely try this method.

[bentayebsalah 2280]

It is a good strategy to shorten time and avoid loss dramatically and I have tried it several times and it was hugely successful

[guatazoo 7150]

I think i should try that, at first i thought when traders lost a trade and got loss, they just recover it on the dice game, but obviously there is a better way.

[kazumina91 148]

I am thinking the opposite of you, if my currency is going down I will sell at a loss, but I will sell it in USD or USD but not in any other currency, so I think safe. safer

[Whydoyoucare 1094]

Long term trading is really a smart move and profitable, wise traders know this kind of tricks, when the market is low dont sell just hold. or in simple words when the price is low or going down dont do anything stupid.

[Crypto123 0]

Yes I have already tried this method and it worked for me, thank God, a few days ago I had bought a panda coin at 14 Satoshi but it started to decrease until it reached 7 Satoshi and at the same time I found that the GST coin is priced at 7 Satoshi but it has an abnormal movement so I decided to sell a panda and buy GST and i did, and shortly after, GST rose, then i sold it for high price and made some profits, and made up for my loss in Panda.

[Zeyazan 204]

First of all, you have to have a lot of experience. And this experience will give you self-confidence. So you're going to enter your deals, and you're confident, and you know why you got into this deal.

 

 So you won't get out of it until what you want.

[Balegi 112]

On 12/24/2019 at 8:14 PM, Brushless4500KV said:

Most traders have experienced the following situation in their trades. Suppose you buy a coin at a certain price and decide to hold it for some time to earn profit. You wait some days but suddenly the price starts going down and if you are a panic seller, you may sell your coins at a lower price and lose money. If you don't panic, you will hold them more until the price rises again but you may have to wait for a long time.

But there is another solution to save you time and money. When your coin's price is going down, you can convert it to another coin whose price is going up. By doing this you can save your investment and cut losses. For example, if bitcoin price is decreasing but Litecoin price is increasing, you can convert your BTC to LTC immediately to stop losing more money and even gain some profit.

Have you ever tried this method?

I don't know but this look common within most traders. It is only a beginner that will panic and sell their coin so cheap.

[febriyana 934]

On 12/25/2019 at 2:14 AM, Brushless4500KV said:

Most traders have experienced the following situation in their trades. Suppose you buy a coin at a certain price and decide to hold it for some time to earn profit. You wait some days but suddenly the price starts going down and if you are a panic seller, you may sell your coins at a lower price and lose money. If you don't panic, you will hold them more until the price rises again but you may have to wait for a long time.

But there is another solution to save you time and money. When your coin's price is going down, you can convert it to another coin whose price is going up. By doing this you can save your investment and cut losses. For example, if bitcoin price is decreasing but Litecoin price is increasing, you can convert your BTC to LTC immediately to stop losing more money and even gain some profit.

Have you ever tried this method?

Until now i never doing like that. Because basicly we need convert our coin to BTC first. That is same way like you sell your coin to cut loss. So after get Bitcoin you buy again on coin where still on bullish season. That is bad idea i think.

First you will cut loss first, then buy other coin. Where i think that is double fees. Also very risky when bullish season is ended when you buying that coin.

[Gunhoo 91]

That is a good method to cut out losses. I think I will give it a try later. There's also a stop-loss feature, if you want to use them. Do use them, because that feature is very helpful

[iloveyobit 6599]

No, I did not try it, and the reason is that this method rarely works, because when the market reverses, then all currencies in it are lowered in large proportions to that exchange between these currencies will not benefit.

[Casinoval 330]

This is what I do on the market I always short another coin for a better want to reduce my loses when things start to go bad, this can help in most cases cause not all coins prices can start falling together, some fall and some increasing, this method is very helpful.

[Jhadhasan 872]

As for me, before entering into any buying or selling process, I have put all possibilities in front of me, so I have set a stop-loss order in advance, which leads to exit from the deal automatically, so this strategy is inconsistent with the general rule that I follow.

[Goody28 259]

I don't think I have gone through this process  or method before I only sell my coins when I see that the market price has increased if it's low I don't sell for any reason or I hold for long term

[Brushless4500KV 4214]

On 2/6/2020 at 4:40 AM, yupi84goro said:

In my opinion almost all traders use the method of cut losses to save their capital from coins whose prices continue to decline. If left unchecked, the capital we have can become zero.So the cut loss method is needed, but not too often using it can result in our capital depleting.

There are many ways to cut losses but all of them are not effective. I think the most effective one is coin switching (or shifting). I tried this method myself and managed to save my investment when LTC was going down. I immediately sold and shifted to BTC. A few hours later BTC went up and I recovered all the money that I had lost in LTC. In some occasions in trading, you need to forget about profit and only focus on rescuing your money because missing profit is not as hurtful as losing your hard-earned money.

[Shaza Ahmad 1682]

I have not tried it before, but I wish I had tried it before, I think it is an effective way to compensate for some losses, but also choosing the currency that qualifies for the increase is not an easy thing.