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

[Faisal2202]

Managing emotions is the most difficult thing to do, because it takes experience. We will experience panic and disappointment when we lose, but we also have to trust our analysis to be more careful. do research and start deciding to invest properly, don't let there be bad emotions when investing.

I agree with you that controlling emotions takes time and great experience. Recent dumps and fud created in the market have almost made me sell my BTC holdings and I am pretty sure a lot of people already have sold their BTC holdings. The only thing that made me stick to the plan was education and the reality of the market.

We should not believe or trust what we read on small posts like Facebook, LinkedIn, or any other social media in which people post small posts with some image. We should search on our own about the whole market. For example in this dump from June 30th to now 500,000 BTC has been bought more by long-term BTC holders and people dumped their BTC due to Germany, and MT Gox distributions. People with no control on their emotions sold and people with control on their emotions bought. That's the difference.

[milewilda]

Managing emotions is the most difficult thing to do, because it takes experience. We will experience panic and disappointment when we lose, but we also have to trust our analysis to be more careful. do research and start deciding to invest properly, don't let there be bad emotions when investing.

I agree with you that controlling emotions takes time and great experience. Recent dumps and fud created in the market have almost made me sell my BTC holdings and I am pretty sure a lot of people already have sold their BTC holdings. The only thing that made me stick to the plan was education and the reality of the market.

We should not believe or trust what we read on small posts like Facebook, LinkedIn, or any other social media in which people post small posts with some image. We should search on our own about the whole market. For example in this dump from June 30th to now 500,000 BTC has been bought more by long-term BTC holders and people dumped their BTC due to Germany, and MT Gox distributions. People with no control on their emotions sold and people with control on their emotions bought. That's the difference.

Experience would really be the key and this is something that makes you do able to be wary on things on which on the time or moment that you've seen yourself having that kind of
experience then it would really be that an advantageous thing on your part. Loses would really be that inevitable on trading and this is why it would really be that something recommended
that you should really be that having those plans on how you would be able to control yourself because getting impulsive and highly reactive will really be causing up much
more negative things specially on the time that you cant be able to handle it well.

[Aanuoluwatofunmi]

One thing I like about trading is that you will not risk loosing your entire investment on doing it, even if the strategy used failed, you can't lose everything like you see with gambling, but for those who can't afford to lose big on trades, it's more better if they can embrace a long time investment by holding than going short to risk loses on their assets of investment each time they are on trades.

[|MINER|]

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.

One should always be mentally and practically prepared for anything in life.  Any disaster can happen anytime in life. Today you are making good income from crypto currency tomorrow it can crash. So in these cases plan B should always be prepared because in all situations one has to survive with family. Instead of leaving crypto currency as the only means of earning.  You can do any other job or business besides this.  So that when one avenue of earning is closed, another one is open. One should always be prepared for all situations because one has to sustain oneself in all situations. I would say to establish a good business along with crypto currency. And not to invest all money in crypto currency but some money.  It is wise to invest in that business.

[salad daging]

I don't always risk more in trading if I lose a big loss we have to find profits to recover but I know it's difficult and impossible to do in a short time, but I need to have a clear mind to return to trading and take a little profit but low risk.

What I do is not in futures trading but Spot trading so I will not lose all of it unless I wait until the buy point returns again.
If for example in futures trading then it could be possible to lose all of it especially with high leverage.

[Crypto Library]

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.

Don't make that kind of big amount trade which brings you on a big loss that you can't afford and that's make fall you in bad situation.

I will always suggest that stick to the fund for trading what you can afford to lose and after that when you will face the loss every time watch the mistake you done and try not to make the second time the mistake . And changing the idea I will say if you do short-term trading you can shift on the long-term trading.

[SamReomo]

Don't make that kind of big amount trade which brings you on a big loss that you can't afford and that's make fall you in bad situation.

It's always better to make a trade that doesn't affect you in anyway. Those who want to earn a lot from trading should understand that it's not a market where everyone can print free money as there are so many risks in trading.

If someone is aware of such risks then he/she never makes trades that cause him/her any losses. He/she always consider to make trades that can give him/her some profits instead of huge profits and similarly he/she wants to reduce losses as much as possible. That's how a good trader survives in market and makes some money out of it via trading.

[Aanuoluwatofunmi]

What else should one do whenever the gridlock occurs on the trades we made than to take heart, take time and relearn our mistakes then comeback better on it in other to make it right again, if we didn't learn from our mistakes, reoccurrence may remain in evitable on us, and i don't think that it is proper for us to wait till that time comes whereby we lose big before learning or to do the right and appropriate thing concerning trading.

[Vision pro]

Below is a brief analysis of your post.  Investing in an uncertain market like cryptocurrency should always have a backup plan.  Here are some important steps and strategies that can be applied when faced with huge losses.  Investment in other assets.  Limitation of damages.  Keep money for emergencies.  Small investments from time to time.  Avoid panic selling.  Stay updated and make necessary changes.

[Crypto Library]

It's always better to make a trade that doesn't affect you in anyway. Those who want to earn a lot from trading should understand that it's not a market where everyone can print free money as there are so many risks in trading.

If someone is aware of such risks then he/she never makes trades that cause him/her any losses. He/she always consider to make trades that can give him/her some profits instead of huge profits and similarly he/she wants to reduce losses as much as possible. That's how a good trader survives in market and makes some money out of it via trading.

Well said buddy, The think most of the people about trading is the quick rich scheme and that is the reason most them are facing loss.

They should know that trading is also a site like where to be successful it's need the knowledge and skills like we do in web development, Digital marketing and as well as the physical works. And obviously trading is an investment so here we should also follow the risk factor because even one a skilled and knowledgeable person on the trading he can face loss we see this incident when Luna Crashed. So invest as much as you can afford to lose.

[SamReomo]

And obviously trading is an investment so here we should also follow the risk factor because even one a skilled and knowledgeable person on the trading he can face loss we see this incident when Luna Crashed. So invest as much as you can afford to lose.

Yes, very true, trading is also a type of investment because money is involved in it and a trader should understand that there are some risks involved in trading and even professional traders also face some losses in some of their trades but they know the art of minimizing those losses and recover the money from new trades while newbies quit when they see losses. '

Luna's crash is a good example for the traders to understand that those who were trading Luna got shocked when it's value dropped 99.9% within 2-3 days. Smart traders made money from Luna's crash as well but majority of traders have lost money with it.

[kai]

For example, I trade bitcoin and buy bitcoin at a price of 63,000 USD and then the price drops up to 53,000 USD with a minus calculation to -10,000 USD and this value is very expensive.
The decline in bitcoin lasts a long time, perhaps between 4 to 8 weeks. During this decline I was only looking for real jobs to find daily funds used at home sweet home.
Maybe in conclusion, I have to refresh when the market is down and the market has gone up I should take profit and withdrawl to a local bank account.

[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?

Cryptocurrency prices never stop, if you invest in a coin and its price falls, you can patiently hold it and it will recover, at which point you can sell it at your target price. But in this case you must invest in potential coins. But if you invest in a new coin you need to do a lot of analysis to see if it will recover in the future.  If it is not possible to do better in the future then we have to sell at a loss there is nothing we can do. there is no guarantee that you will be able to profit from each coin.  So one must be careful while investing. That's exactly what I do.  But most of the time investing in top coins I always prefer to hold because they will recover.

[Crypto Library]

Cryptocurrency prices never stop, if you invest in a coin and its price falls, you can patiently hold it and it will recover, at which point you can sell it at your target price. But in this case you must invest in potential coins. But if you invest in a new coin you need to do a lot of analysis to see if it will recover in the future.  If it is not possible to do better in the future then we have to sell at a loss there is nothing we can do. there is no guarantee that you will be able to profit from each coin.  So one must be careful while investing. That's exactly what I do.  But most of the time investing in top coins I always prefer to hold because they will recover.

In case of this I will say that not the potential coins it should be bitcoin and the rest have the high risks and to recover some time I will say most of the times those recovery is very slow and some times those failed as the luna incidents and FTX crash.
I don't want to disencouraged the people to investment on the altcoins because even there is some good coins like the Ethereum, Solana, Polygon, BNB, TON etc these can bring good profit in long-term but I will even say that the Luna Incident I have also invested on the altcoins for the long-term but it is on affordable amount of mine which I can lose and will not affect me and my familiy.

[libert19]

^ I also used to consider prominent altcoins safe bet until Luna incident happened, now these days I only consider Bitcoin to be a safe investment, and to a lesser extent Ethereum, while in everything else with the mindset that it can go to zero.