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

[Ricardo11]

I would always say to trade with money you can afford to lose. If you follow this and trade then you will not face big loss. I have no such experience. But if one takes a loss like this then he has to get out of trading, because you will want to trade more to cover your loss, but then your emotions will work more than your head, only you will feel that you lost your losses Being thats money will bring it back anyway. Then you will not be able to make the right decision and will face bigger losses by trading on emotions.

So at that time you have to come out of trading and move towards holding. You have to hold and accumulate that amount until your losses are covered by staying away from trading for a long time. That's the only way.

[taufik123]

-snip-
But indeed, maybe it only works for some traders who already have experience who can analyze but use trading signals as just one guideline. Because in the group, there are also many claims of success for the signal. It's just that I personally, honestly really didn't understand and only waste money. wkkwkwk

Those who say it works may be following signals on sideways markets and not on bear markets.
And also those who say they always succeed are their own team that pretends to give positive feedback, in fact it is just a lure for more new members to come in and old members to increase their purchases.

All of that is just manipulation and now these kinds of grubs are banned and are also not visible any more today.

[ajiz138]

Yes, it's not just one or two groups that I've seen that they give a trading signal, they even promote it on social media. Their followers are usually beginners, because they don't know anything and are easier to influence.

Not infrequently, they also open paid VIP signals, they are looking for profit for themselves. I hope we can be more careful when we see groups like that, it's better for us to do our own analysis.

If it is easy for them to make profit through trading with the signals that they are giving, why are they not rich by now and focus more on trading to make huge profit instead of selling fake signals that will lead people to more losses. If you don't know how to trade, forget about it and learn till you have the knowledge and have your own strategy which will favor you. You can be practicing with a little amount of money that you can afford to lose. Think more of the future than the present which made me quit trading because it made me run at loss anytime I try it.

This is a very good logic, when they can get a lot of profit from the trading they do, then why do they create a VIP group to make money? Isn't that not bigger than what they can get?

I think 2 things about people who are indeed experts, the first is they are not known as someone who is an expert in trading and the second is they will share it for free because they can already make a profit from trading.

[Jamal Aezaz]

If they can guarantee the signals, it must be paid, they won't share the signals for free. They won't share something who can easily make money for free. No people in the world who are really kind to share something to make us be rich with no fees. It is just a bit strange that there are social media groups sharing good signals. 

Yes, just focus more in learning if we still can't trade properly. We don't force our selves to trade with lack of knowledge. Crypto trading is high risk, it is stupid to trade crypto coins with lack knowledge.

Actually those who understand trading and have the ability to know about the market movement are taking advantage of their ability so they are helping others due to which not only others but they are also making good profit. Nobody in this world is  ready to help others without any payment as jobs are limited so they are adopting new ways to earn cash.

Very little percentage of people who know about signals are sharing their knowledge without any payment but currently some people are also here who don't know anything but are getting money due to spreading the wrong signals so I think if a person understands trading and signals by himself then he will not need anyone for his success.

[Captain Corporate]

Thats true, after a certain while you end up getting to know all of this easily and you do not end up getting anything marginal out of it, and just accept that its part of it. Thats what I tried to convey as much as I can, its time and learning about it. I get that it may not be easy at the very first time, but its going to be something easy to deal with with time, so it should be quite good eventually. I try to do as well as I can, and it wasn't really that easy to handle but with time it became easier and easier, its just the way it should be. This of course isn't a solution to newbies, but they just need to wait.

[Mr. Magkaisa]

    -      As traders, we should really expect to lose there, especially if our knowledge of trading in the cryptocurrency business is not that extensive. If those are the experts, they still can't prevent us from losing; can they not be experts?

If we lose, we should know where we made a mistake in strategy and why we lost in trading. As long as possible, we should not repeat the mistake we made that made us lose in our trading activity.

[Fivestar4everMVP]

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.

Well, I honestly dont have, and can't even think of what could possibly be or act as a backup plan against crypto loss, aside just picking yourself up and moving on, specially with the fact that there are several other opportunities to make money from in crypto.

And besides, huge losses can be avoid in the first place, and that is by we making sure not to invest more than we can't afford to lose.
And another thing is, making sure we know the risk involved with every cryptocurrency we decide to invest in, this helps us prepare ourselves well incase of unforseen circumstances, and like I said before, when ever such a thing as a loss occurs, there is no other thing to do aside picking one self up and moving on to other opportunities available.

[pieppiep]

    -      As traders, we should really expect to lose there, especially if our knowledge of trading in the cryptocurrency business is not that extensive. If those are the experts, they still can't prevent us from losing; can they not be experts?

If we lose, we should know where we made a mistake in strategy and why we lost in trading. As long as possible, we should not repeat the mistake we made that made us lose in our trading activity.

Exactly, no trader always succeeds in getting a win, every trader must have experienced a loss that eventually made them have to learn their mistakes so that they are not repeated. Those who have become expert traders make failure a very important lesson. We must always learn something new and be able to control our patience well so that we can set the right strategy.

[LUCKMCFLY]

    -      As traders, we should really expect to lose there, especially if our knowledge of trading in the cryptocurrency business is not that extensive. If those are the experts, they still can't prevent us from losing; can they not be experts?

If we lose, we should know where we made a mistake in strategy and why we lost in trading. As long as possible, we should not repeat the mistake we made that made us lose in our trading activity.

Exactly, no trader always succeeds in getting a win, every trader must have experienced a loss that eventually made them have to learn their mistakes so that they are not repeated. Those who have become expert traders make failure a very important lesson. We must always learn something new and be able to control our patience well so that we can set the right strategy.

In trading, losses can always become great lessons and that helps us to apply them in any other operation, but we always have to do an analysis. I consider that losses in trading are normal, but here what we must be very careful about is that the losses must be minimal , or at least the losses must be less than the profits, the profits must always be greater, if the opposite happens it is likely that we are seeing the market wrong and it is necessary to stop and see what is Happening.

[Hyphen(-)]

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.

Loss is part of trading, and you can never exempt it completely because no one is perfect, especially in trading. There is a very huge risk involved, and if you have learned so well, you will know that you need to be very observant and know exactly what you are doing whenever you are trading to avoid the huge loss you are making reference to.
Stop loss is very important in trading, it will limit your loss; likewise, learning about trading before you start trading will equally help you to control your losses.

[EluguHcman]

so what is your plan when you experience a huge loss in cryptocurrency?

My investment on cryptocurrency is my holding with Bitcoin.
The term "lost in cryptocurrency" is one doubt I have to be a subject about because before I invested in Bitcoin, I am aware that it is a volatile currency which I also know that it is lucrative if held on long term goal.

So, when the value of my value depreciates which may be the lost you mean OP, I would have to keep holding because downward is not the right phase of Bitcoin but upwards ness despites its fluctuations.

And even when it deep depreciating as the price of Bitcoin keep to befall, I take it as opportunity to buy and accumulate more while it reschedules to appreciate valuably again where  my holding values is multiplied after some losses.

[Kemarit]

so what is your plan when you experience a huge loss in cryptocurrency?

My investment on cryptocurrency is my holding with Bitcoin.
The term "lost in cryptocurrency" is one doubt I have to be a subject about because before I invested in Bitcoin, I am aware that it is a volatile currency which I also know that it is lucrative if held on long term goal.

So, when the value of my value depreciates which may be the lost you mean OP, I would have to keep holding because downward is not the right phase of Bitcoin but upwards ness despites its fluctuations.

And even when it deep depreciating as the price of Bitcoin keep to befall, I take it as opportunity to buy and accumulate more while it reschedules to appreciate valuably again where  my holding values is multiplied after some losses.

Everyone has it's own plan here, others really take it very hard when they lost in crypto although if you look at your wallet it might be in the negative but it doesn't mean you have you lost that money right now. So it's better that your goal is for long term here, so that when your portfolio goes down, you won't be affected that much. I remember way back when the pandemic happens, everyone is definitely at lost because there was a huge decrease in price and everyone really don't know what is happening around that time. But I didn't sell and panic and just HODL or even continue to accumulate and I'm glad that I make that decision not to sell or trade my Bitcoin.

[milewilda]

so what is your plan when you experience a huge loss in cryptocurrency?

My investment on cryptocurrency is my holding with Bitcoin.
The term "lost in cryptocurrency" is one doubt I have to be a subject about because before I invested in Bitcoin, I am aware that it is a volatile currency which I also know that it is lucrative if held on long term goal.

So, when the value of my value depreciates which may be the lost you mean OP, I would have to keep holding because downward is not the right phase of Bitcoin but upwards ness despites its fluctuations.

And even when it deep depreciating as the price of Bitcoin keep to befall, I take it as opportunity to buy and accumulate more while it reschedules to appreciate valuably again where  my holding values is multiplied after some losses.

Everyone has it's own plan here, others really take it very hard when they lost in crypto although if you look at your wallet it might be in the negative but it doesn't mean you have you lost that money right now. So it's better that your goal is for long term here, so that when your portfolio goes down, you won't be affected that much. I remember way back when the pandemic happens, everyone is definitely at lost because there was a huge decrease in price and everyone really don't know what is happening around that time. But I didn't sell and panic and just HODL or even continue to accumulate and I'm glad that I make that decision not to sell or trade my Bitcoin.

We do have our plans basing up into the conditions or situations that we are really that facing on. We do know that when we on verge of huge loses then we would really be definitely be thinking on quitting up and on the time that we would be seeing that its pointless for you to continue then its most likely you would really be definitely doing that. Plan on whether you would really be
continuing to deal up trading or investment will really be your risks management thing on which there are individuals who are really that not easily giving up on the time that they are really  that doing something.

[JISAN]

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?

Trading is not for everyone.  Trading is a very difficult thing and only those who spend time on it become successful.  Again, no matter how much an expert is in trading, he will never be able to guarantee profit.  So everyone should have a backup plan.  I am not much expert in trading. So my experience in this matter is less.  When I lose be it in gambling or trading I forget it and stop trying to recover the lost amount and start again later.  I think that the more I think about previous losses, the more volatile they become, causing me to make bad decisions on subsequent moves with volatility and experience more losses.

[Findingnemo]

Not losing big sounds like a plan cause if we realise the loss is huge then it's pretty much it, we can't do really much about it unless move on to next trade.

So what we need to not losing big, like stop loss that can limit our capital from busted or opting out not sell until the market trend reverse cause we didn't lose anything as long as we are holding our cryptos.