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

[doc]

^ 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.

Bitcoin is the safest coin to invest in, I agree with you. Ethereum is the second altcoin, it is also safe for long term holding. Luna is my mistake in the past investing in this coin. And I think altcoin is not safe for long term investment.

[alltalk]

Bitcoin is the safest coin to invest in, I agree with you.

Safe or not will depend on how we manage our investment. Even if we invest in Bitcoin, it can be not safe if we have lack of the knowledge about its investment. But I can agree that investing in Bitcoin is the most recommended one in crypto business. If we compare with altcoins, altcoins must be riskier.

Ethereum is the second altcoin, it is also safe for long term holding.

It is not the second altcoin but it is the first or number one altcoin. Sure, it is a good coin for holding a long time.

And I think altcoin is not safe for long term investment.

You just stated that Ethereum is safe for a long term holding. It is surprising that you conclude altcoin isn't safe for holding investment. Etheruem is one of altcoins, it is number 1 altcoin so far.

[doc]

Bitcoin is the safest coin to invest in, I agree with you.

Safe or not will depend on how we manage our investment. Even if we invest in Bitcoin, it can be not safe if we have lack of the knowledge about its investment. But I can agree that investing in Bitcoin is the most recommended one in crypto business. If we compare with altcoins, altcoins must be riskier.

right that is my reason why my bitcoin assets are bigger than altcoin, because I focus more on long term holding. Because my time to do daily trading is also limited sometimes because I don't monitor the market late exit.

Ethereum is the second altcoin, it is also safe for long term holding.

It is not the second altcoin but it is the first or number one altcoin. Sure, it is a good coin for holding a long time.

Upss sorry, it's typo. Ethereum is the number one of altcoin

And I think altcoin is not safe for long term investment.

You just stated that Ethereum is safe for a long term holding. It is surprising that you conclude altcoin isn't safe for holding investment. Etheruem is one of altcoins, it is number 1 altcoin so far.

Actually, ethereum is still safe, but because recently ethereum's price movement is not as good as BNB and Solana, I have doubts, whether ethereum is still safe to hold for the long term or will it be replaced by a new altcoin, but I don't have a good analysis for the altcoin for the long term, I am more confident with bitcoin.

[Gurujebs]

Bitcoin is the safest coin to invest in, I agree with you. Ethereum is the second altcoin, it is also safe for long term holding. Luna is my mistake in the past investing in this coin. And I think altcoin is not safe for long term investment.

FTX was the worst crypto that ever climbed to billions to died in just two days, Solana and Avalanche where also next in line but what help them was that they had a come back and strong buy as well as strong community. If not for their intervention, many of them would be as good as dead for long because the FTX loss was too real.

I just hope that such things don't continue in crypto because such things cause a big disability in crypto. It's because of the past events and things of such why we are yet to have a bull run like the previous ones, people are now skeptical about the trust in the market.

[bayu7adi]

Bitcoin is the safest coin to invest in, I agree with you. Ethereum is the second altcoin, it is also safe for long term holding. Luna is my mistake in the past investing in this coin. And I think altcoin is not safe for long term investment.

FTX was the worst crypto that ever climbed to billions to died in just two days, Solana and Avalanche where also next in line but what help them was that they had a come back and strong buy as well as strong community. If not for their intervention, many of them would be as good as dead for long because the FTX loss was too real.

I just hope that such things don't continue in crypto because such things cause a big disability in crypto. It's because of the past events and things of such why we are yet to have a bull run like the previous ones, people are now skeptical about the trust in the market.

That is one of the things that can make us lose overnight... some of these scams will cause the price of the related coins to fall to nothing.. and I also agree with you, this is what makes some big investors reluctant to enter the crypto space, because the potential for fraud is quite large....

The purpose of this topic is at least to reduce this too... if we can take the right steps when experiencing such an incident at least it can make some investors feel safe too, even though the percentage is small who are interested.... of course none of us want to experience losses, but bad days always come suddenly, so sometimes avoiding them is impossible. That's why I want to hear my friends' experiences, what they did after experiencing this.

[sagarmota10]

As per my experience and belief every trader need to take rest and go for vacation when get lose big in trading.

Reason: while loses in trading mind is uncontrollable and emotions are attached in next move so better to switch yourself to other activities and comeback with positive mindset and better focuse.

[nakmantu99]

[
That is one of the things that can make us lose overnight... some of these scams will cause the price of the related coins to fall to nothing.. and I also agree with you, this is what makes some big investors reluctant to enter the crypto space, because the potential for fraud is quite large....

The purpose of this topic is at least to reduce this too... if we can take the right steps when experiencing such an incident at least it can make some investors feel safe too, even though the percentage is small who are interested.... of course none of us want to experience losses, but bad days always come suddenly, so sometimes avoiding them is impossible. That's why I want to hear my friends' experiences, what they did after experiencing this.

scammers are always there wherever we invest not only in crypto, so I don't think this is a reason for investors to be reluctant to enter crypto. because investing in the real world is also full of fraud. why should we be afraid of fraud if we can be careful in every transaction and learn the strategies and tricks of scammers.

[Rubel007]

^ 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.

Bitcoin is the safest coin to invest in, I agree with you. Ethereum is the second altcoin, it is also safe for long term holding. Luna is my mistake in the past investing in this coin. And I think altcoin is not safe for long term investment.

I think that was not mistake they cheated with investors. Luna which was definitely good project and it's position was the top in coinmarketcap. By scamming it affects in the impact drastically. I also had a small investment in this platform. I would agree with you that Altcoins are not suitable for long term investment where only Bitcoin is best for investment but according to the market I think Ether is still suitable for investment.

[libert19]

^ Luna wasn't a scam, it was just flaw in algorithm on how it was linked with $UST, the users were blinded by 20% interest rate and most of them couldn't wrap their heads up around the fact that it could fail, I said 'most' because I did read on Twitter before disaster happened that be cautious with $UST and their 20% interest rate.

[satpol_PP]

^ Luna wasn't a scam, it was just flaw in algorithm on how it was linked with $UST, the users were blinded by 20% interest rate and most of them couldn't wrap their heads up around the fact that it could fail, I said 'most' because I did read on Twitter before disaster happened that be cautious with $UST and their 20% interest rate.

I also see Lunan is not a scam, it's just an excessive emotion from users to get 20% interest, but in my opinion forget about luna and we don't need to repeat the same mistake. I also lost a lot of time at that time. It's better for us to choose coins with a good reputation like bitcoin and ethereum, those two coins are the safest in my opinion.

[LUCKMCFLY]

^ Luna wasn't a scam, it was just flaw in algorithm on how it was linked with $UST, the users were blinded by 20% interest rate and most of them couldn't wrap their heads up around the fact that it could fail, I said 'most' because I did read on Twitter before disaster happened that be cautious with $UST and their 20% interest rate.

I also see Lunan is not a scam, it's just an excessive emotion from users to get 20% interest, but in my opinion forget about luna and we don't need to repeat the same mistake. I also lost a lot of time at that time. It's better for us to choose coins with a good reputation like bitcoin and ethereum, those two coins are the safest in my opinion.

Still, when you invest in altcoins you will always be in danger, a lot of risk, that is why before making any investment we must be sure and assume what happens, which is very different from when you invest in bitcoin, in bitcoin it is another story, therefore when we are looking for an alternative to invest what I always recommend is good, when I was looking at the reasons for Luna's fall, it didn't matter anymore, logic led to that, and that is the danger of all altcoins, and in fact one magician made a lot of money with that fall, but why? because he saw it as an opportunity and not as an investment.

[PX-Z]

Still, when you invest in altcoins you will always be in danger, a lot of risk, that is why before making any investment we must be sure and assume what happens...

I don't know if it just me, but when it comes to altcoins/tokens i always use an exchange to invest set stop-loss order to avoid getting rekt too much if ever it goes dump. I don't hold it on any custodial wallet. I know the risk of storing coins in exchange for so long but i will take it for grain of salt when it comes to alts/tokens.

[Agbe]

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.

Crypto traders should always have a backup investment just Incase your trade goes sideways, we have heard stories of people blowing their trading accounts worth thousands of dollars and having nothing to fall back to because they lack proper planning. When you are stacking up your profits do not spend on Mondane or irrelevant things, focus on investing in other assets both online and physical that can serve as a backup when you lose big in trading. Preparing for it is better than having no plans at all. Always withdraw the profits you make on every trade so you can put it into other things

[sonaa]

Be it crypto currency or life, if we invest and we don't see any benefit in it, we should know that we are going to lose.  And if we have to prepare for it in advance, we will be able to move forward.
 Holding is more important than trading.  But sometimes you have to follow the market conditions,

[Legion]

Be it crypto currency or life, if we invest and we don't see any benefit in it, we should know that we are going to lose.  And if we have to prepare for it in advance, we will be able to move forward.
 Holding is more important than trading.  But sometimes you have to follow the market conditions,

That is true, when investing as well as in the day to day business, the goal is not only to make money but also be prepared for the possibility of losing some. When we fail to record the benefits or outcomes that are expected from an investment we need to assess the position and plan for the next action. Evaluating how ready and capable a company is to cope with changeability and variability in the market is the concepts’ sum and substance. At times, it is actually important not to be aggressive in the markets and merely observe the actual trend of things. Impatience and changes in the strategies of investing depend on the market conditions constitute the key factor in patience.