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

[jamesvince 2389]

oh no this is useless strategy not professional traders do this because if one coin pumped and you invested on that may be soon other coin arr pumped and that coin will dumped. I think professional wait for correct time to buy and sell of their investment. 

[cryptoya11 479]

Yes, but i didn't enter trading but i have collecting many info before entering it, the method to cut loses in trading like the same method in gambling, what you do if you lost 1 usd in bet??? Play with 2 usd in 2x doubler, true???? And you get the 1 usd lost and +1usd won, so i have idea for trading, that you can make maths action to get it, if you bought at 1000$ and price still going down for long time! You should sell in the near time of downing! then wait for the time that bitcoin going to high then in the time you should multiple the first enter amount, and buy! Then wait for highing and the sell at you doubt the price will down. Thats my method that i think it will success.

[Honny143 13612]

Its really good strategy bro because its happen in crypto market some times, we analysis all when we buy any coin but unfortunately that coin prices goes down, but your strategy works because all coins not loss their prices at the same time,and some coins pump ups so this method we stop our loss, and chances to earn some profit.

[phizusiki 239]

On 2/16/2020 at 10:16 PM, Hendy1 said:

When I get a loss in bitcoin trading and the individual whale is pumping altcoin trading like Litecoin so I will convert into Litecoin trading. So the profit in litecoin trading can cover losses in bitcoin. I think they need to think quickly and to get the best moment.

I only trade when I see a currency and realize that I like it when I trade, I don't trade any kind, I understand the position of the business before trading. I think that almost all traders use the loss-saving method to save their capital from falling currencies.

[scorpiali 5626]

On 3/8/2020 at 11:03 PM, Beromnia said:

Welcome with me
An intelligent way to save investment like what you say in your topic, "Example, if bitcoin price is falling but Litecoin price is increasing, you can convert BTC to LTC immediately to stop losing more money and even make some profits."
However, what I do not agree with you is my remarks that alternative currencies do not know price independence except under the Bitcoin price movement in an up or down direction.

Good idea to switch to another coins if your coins is falling down, but in general when bitcoin fall all coins fall with it and we cant proceed like that all the time 

[jacker 1095]

I used the stop loss method to stop myself. I myself sometimes make a mistake and I really need a stop loss order, I use it in trading and I have never regretted it. The method you say sounds useful, but consider it because it depends on the market.

[Rickso 768]

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 think there a better options to reduce losses, like a simple stop-loss or DCA, this method you proposed is a bit risky since you can enter into another losing coin and so lose more money. this is definitely not a good strategy for a new trader

[Brushless4500KV 4214]

14 hours ago, Rickso said:

i think there a better options to reduce losses, like a simple stop-loss or DCA, this method you proposed is a bit risky since you can enter into another losing coin and so lose more money. this is definitely not a good strategy for a new trader

I didn't suggest this method for newbies. Stop-Loss strategies are effective in reducing the loss and prevent it from getting bigger but the negative side of it is that they cut profit too. By switching to another coin which is rising, we can not only stop losses but also make some profit during the process. I know this requires some skills but it is more reasonable for medium and advanced traders.

[Rendra808 92]

while i get a loss in bitcoin buying and selling and the man or woman whale is pumping altcoin trading like Litecoin so i will convert into Litecoin trading. So the income in litecoin buying and selling can cover losses in bitcoin. I suppose they need to assume fast and to get the satisfactory moment.

[Thekingcallme 1975]

Yes, I trade this way in some cases, but it is not possible to stop the loss like this because all currencies go down when bitcoin falls

[AkaCrafterCZ 1140]

I didn't know about this method before, but I'm sure it won't work every time. If we're trading with a popular coin, it should have pairs for other popular altcoins, but if it doesn't, we won't be able to exchange our invested coins to the other coin. Most of the less popular coins only have a pair of */BTC and */USD. 

 

If we're really panic and we have no other choice, we can exchange the coin to BTC at it's current price and buy the coin we want using it. We simply reinvest our coins and end our last investment.

[phizusiki 239]

On 2/17/2020 at 12:59 AM, Batoul al eman said:

It is a good way to stop losing but I never started trading Thank you for sharing your experience my friend

we have to have enough knowledge about cryptocurrencies and know how the market works because if we enter a trade without enough planning it is a waste and it is a waste of money. may lose cryptocurrency. The profit in litecoin trading can offset losses with bitcoin. I think they need to think fast and to get the best moment.

[teminalibug 309]

On 4/18/2020 at 3:00 PM, dshuy20 said:

I have never used this method. I use the best method of analysis because when I am at a loss, the most important thing is to analyze the currency market and decide whether to sell or persist in waiting for the price to rise again.

The reason for cut loss is good, because it reduces the loss making it easy for you to  recover your loses.

[phizusiki 239]

On 2/18/2020 at 1:23 AM, Imran jameel said:

I think this is not the good solution of save the loss by just swaping our one coin to other. When coin price is dumped already our investmemt decreses so if we exchange it to other crypto then which coinwe get we get the small quantity of that coin as we get before investing. 

The profit in litecoin trading can offset losses with bitcoin. I think they need to think fast and to get the best moment. can minimize our loss. I have lots of losses due to neither setting a stop loss nor having a stop loss method.

[Saboor 511]

I like converting to a more profitable coins that I knew they will bring me more profits, I have not seen where bitcoin price is falling and other coin will be rising, This is too rare in the cryptocurrency market

[phizusiki 239]

On 3/2/2020 at 12:19 AM, Billalmia12 said:

Nor did I try to use this method as a business loss. Because I am new here, I hope I will try this method. This method I think is very good thank you for sharing the video with me

If we exchange it with another cryptocurrency, whichever coin we receive, we will receive a small amount of that amount when we receive it before investing. This is not good and can make you lose more, keeping and patience is the best way to cut losses.

[blackdead 32]

On 12/24/2019 at 3:14 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 have not used that method but it is a very good idea so I will not have to wait so 
long for the currency I bought to rise again and it does not go up as I thought. for 
those who have not read this do not be scared by the post xD will help you

[lolok 60]

Selling Bitcoin at a loss if it drops to buy Litecoin if is in a good trend can indeed be a good strategy. This is called arbitrage between 2 assets to switch from one asset to another more efficient asset.
It is an arbitrage technique that is often used in the world of equities and is very effective whether the asset we are selling is losing or gaining as long as we move to a more performing asset.

Edited October 13, 2020 by lolok

[arqjairoc 112]

no, I have never tried but I find this method very interesting, I have always said it, within this group you learn every day, this method will reduce all my losses to later, I am very grateful

[KHALED ADWANI 1216]

In fact, most of my trading operations are for different pairs of cryptocurrencies between each other, this helps to constantly increase my balance of cryptocurrencies.

Very rarely do I trade against the dollar

[Arslan Ch 2163]

We shouldn't be panic in such situation and should hold the coins if its price going down and wait for it rise may be it take a long time but surely you will earn a good profit.We can take the example of BTC as the people who trusted it are now the happiest of all by seeing its current rise as it has crossed almost 28k$.That's why we say that trader should have patience in the otherwise they can't be successful in trading.

[Brushless4500KV 4214]

  

1 hour ago, M Ahtisham said:

Great suggestions you have given. I really appreciated your help. Fluctuations in rates is a very common thing in trading business so if you see you are losing then you have only two ways one is that you have said in your post and the 2nd is to wait for a good time. 

To choose a second coin for cutting losses, you have to be very careful because it should have higher or at least the same volume as your main coin. A stronger coin can cut and compensate your losses but a weaker coin will just add to your loss. As an example, if you have lost money in Doge, you can switch to bitcoin for cutting because it is stronger than Doge but if you have lost with ETH you can't switch to BCH because it is a weaker coin. Therefore, pay attention to the ranking of coins before making your decision.

[Flash009 345]

Bitcoin movements always have an effect on altcoin, my funds will not last if I use your strategy. The correct method is to reduce or keep purchasing using Martingale Money as a basic calculation. I'm sorry if I don't agree with your strategy, I'm sharing and thank you. 

[teebasas 3018]

When the price was falling, a whale would pump a small coin in Binance. Through this, the coin did not continue to rise. I believe the team behind these coins is most likely trading them to make them seem unrelated to Bitcoin and to promote them. Never tried jumping into one, however, since they normally start going down after the pump.

[Sumon21 151]

On 12/25/2019 at 1:14 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?

@Brushless4500KV You have given a great intellect.  I have never thought like this before. I was really worried about my investment.  Now I think I can make a profit by using your technique in my bad times.  Thank you.