What is your plan when you lose big in crypto trading?

[bayu7adi]

We know that not all plans can go smoothly as we wish...A backup plan for the possibility of something worst happening must be there... so what is your plan when you experience a huge loss in cryptocurrency?

Here we can exchange ideas for preparation if the worst comes to us.... considering it I think it's not a bad idea.

[Charles-Tim]

I will say that you should not expect the worst. Just use the amount of money that you can afford to lose to trade. Trading is not going as plan for most traders. The less they should not see it as a way of making money. If the risk is small, the better it is.

[bee]

I agree with Charles-Tim, actually big losses do not need to be experienced if we prepare a risk management plan. Because what you will risk in trading is only a small amount of money that you can afford to lose.
But we can't deny that many people risk a lot of money in their trading. If a big loss occurs, the only way is to get out of trading for a long time.

[target]

A prevention is much better plan than executing plan B after losing, this I guess traders are not really trading with huge capital. But if it happens to me though I will move to shorter term investment. Just watching coins several coins for short term trades.

Its not recommended to chase a pumping coin but when it hasn't yet reach its ATH, risking could be an option. I would do the same just keep accumulatiing sats.

[MrSpasybo]

I agree with Charles-Tim, actually big losses do not need to be experienced if we prepare a risk management plan. Because what you will risk in trading is only a small amount of money that you can afford to lose.
But we can't deny that many people risk a lot of money in their trading. If a big loss occurs, the only way is to get out of trading for a long time.

I think capital management and stop-loss orders will help us avoid suffering huge losses in our trading careers. Not going all-in and always setting a stop-loss means traders will always have capital and opportunities in this market.

As a holder, I've also experienced significant losses, but my decisions vary depending on the market phase. In bullrun, temporary losses are always overlooked, and I focus solely on DCA, which means I hold-to-target. When the market enters a bull-sleep, I'm ready to sell my tokens at any price to get stablecoins so I can accumulate at the bottom during the crypto winter.

[bitterguy28]

We know that not all plans can go smoothly as we wish...A backup plan for the possibility of something worst happening must be there... so what is your plan when you experience a huge loss in cryptocurrency?

obviously know when is the best possible exit to minimize your losses this is something that should have been planned a long time ago before you had even invested

after you should learn what you can do differently next time and next time make sure thwt you have enough money outside of your investment to keep you surviving

[Manna]

I pretty much agree with you because when we invest not all investments will always be profitable.  Once in a while you may face loss.  So I would suggest if you want to become a real trader then invest some of your money.  By doing this you will be able to train slowly and eventually benefit.

[bayu7adi]

I will say that you should not expect the worst. Just use the amount of money that you can afford to lose to trade. Trading is not going as plan for most traders. The less they should not see it as a way of making money. If the risk is small, the better it is.

It's like a choice, whether to leave cryptocurrency... or start from zero again, or do another more optimal plan... I understand that so far many people have recommended trading with free money and we will never regret it if it is lost... but if the money is really lost, for example the related project is indicated to be committing a crime or other major problems that cause it to collapse... our assets drop in price by 98%... that's a heavy blow too...

We know that in total crypto assets + real assets that we store elsewhere, it does not have a major damaging impact... but our psychology always asks, do we deposit again in cryptocurrency with other money... or end it all because the allocation money that we "can afford to lose" has run out.

The possibility is still there, even if we don't think about it, at least preventive measures are also needed, my brother.

[akeemqaz]

I rarely expect big losses because I usually trade with funds I can afford to lose. This is because trading isn't my primary source of income. However, I think the best plan is this as well. Having a substantial amount of extra cash set aside, in addition to the funds you're using for trading.

[bhadz]

I prepare myself for such most especially with the emotional attack. I've dealt with so much loss in the market and as well as in real life and that's why I have learned a lot from it. The newbies need to watch their own emotions because losses can cause you to panic more. So, while having some losses, you'll be more pond to do more panic selling because that's what you think is gonna be the best thing to do when you're experiencing it but it's a wrong reaction.

[milewilda]

We know that not all plans can go smoothly as we wish...A backup plan for the possibility of something worst happening must be there... so what is your plan when you experience a huge loss in cryptocurrency?

Here we can exchange ideas for preparation if the worst comes to us.... considering it I think it's not a bad idea.

All of us surely had experienced that big loss on the time or moment that we do engage in trading due to lack of experience and knowledge on which its really just that normal.
The issue on here is on how you would really be handling it on the moment it happens? Mostly people would become that impulsive on the moment that they do have such huge loss
and the others would really be having some pause and trying to figure out on what happened and on next time they would really be learning up and make use it on next
situations that they might be able to face on. So it would really be just that depending on such situation.

[Rubel007]

We know that not all plans can go smoothly as we wish...A backup plan for the possibility of something worst happening must be there... so what is your plan when you experience a huge loss in cryptocurrency?

There is a high risk of loss in trading, which is why a trader should be prepared in advance. Personally I give more importance to holding than trading but sometimes I take one or two trade according to the market conditon. I always try to set stop loss in trading to reduce big risk and I also try to free some money so that I can use that money if needed. But since I focus more on BTC holdings it is a good strategy for me to go long in DCA. This strategy is the best strategy to recover losses even during the negative situation of the market.

[hugeblack]

You will not face a loss if you do not sell, so you must prepare yourself to have enough money and money allocated for emergencies, so the possibility of being forced to sell will be very low, and as long as this possibility is low and you are not forced to sell, all you have to do is to wait until you make a profit.

[bayu7adi]

You will not face a loss if you do not sell, so you must prepare yourself to have enough money and money allocated for emergencies, so the possibility of being forced to sell will be very low, and as long as this possibility is low and you are not forced to sell, all you have to do is to wait until you make a profit.

It is true, but your psychology will still be haunted by the loss... for those who only invest with small money, they may not feel stressed, because when we have assets, the only way out is to sell and it is certain to be a loss for some time to come (at least before bouncing)... but in reality people who have been involved in the cryptocurrency world for a long time are not satisfied with just a small amount, because the profit is a percentage based on the money spent,,,

In some cases, there are indeed those who do not care about the reduction in their assets, but basically they still think about their assets too. Emotions and panic will remain a shadow for those who are experiencing losses, especially for those who only have income from cryptocurrency.

[libert19]

Diversification in real estate, metals, stocks but I ask why would you create such situation in first place that you have to prepare for it?

Better don't create problems, that you have to seek solutions for and importantly when you are aware that doing particular thing is creating a problem.