I think this works mostly for good tokens. Impatience has made me lose out from making good money. Another issue is not knowing when to sell. Some tokens rise hard only to dump again.
Panic sell can make you lose big money
- Thread starter hani20980
- Start date
I wonder why some trader feel panic and sell their coins knowing fully well that the market is volatile, it will rise and fall but you have to be patient to wait for the coin to rise again
Almost very often time than not, it is when we close the trade in our panic mood that these trades do come back to our initial direction of intent. This lose will usually get us very unhappy as it always does because it was just a close call
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That is true because that is what really happen to some traders a lot of traders feels panic and decided of selling their coins when them see that the price is felling.
Exactly, that is why the long term traders(risk takers) benefit more in trading because of their ability to wait for as long as it takes the coins to mature and bring in huge profit. This action is usually taken among those who are so anxious to make quick profit with each coin they buy.
As a matter of fact this has not happened to me and I plan on keeping it that way. Anytime I buy a coin ,most times it's usually for long term so when I see a huge fall in price I'm not bothered by it .I guess it's newbies that easily panic and sell due to a dip.
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There is a wise saying that you should invest only money you can afford to lose in Bitcoin because if you do so it will prevent you from ever closing a trade at a loss.
Panic sell is dangerous for every trader that is why you need to have patience in the market.
I once sold of my ripple coins during a little market correction last year and I regretted my actions, I was still new in the market that time
I once sold of my ripple coins during a little market correction last year and I regretted my actions, I was still new in the market that time
Panic selling has made alot of people loose their hard earned money and then they begin to feel forex market is not a good investment.
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Yes, this is what I always tell anyone around me who is interested in going into any form of investment, yes you can Invest on what ever you want but never make the mistake of putting all that you have to the point that you have Notting to fall back to, then make sure what you have invested is something that if the investment goes bad, you can cope with it.
Anybody who is investing in cryptocurrency should always have proper knowledge of it. That way you will not always sell at panic because it can make you lose a lot of your money.
Everyone should know that when you panic sell you will lose your fund. There's no two ways to it because you don't have to sell your coin very quickly because the price has dropped. Studies showed that cryptocurrency can arise at any time and so you must wait for it to move in the upward direction.
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I think at some certain points many people have been victims of panic sell with the mindset of; it is better I get something than losing everything to deflation. I had been a victim of such.
Panic traders makes this type mistakes, because they have not control in their emotional, so before enter in crypto first prepare yourself, this is crypto price up and down common, one more think don't need to sell when coins price goes down, just convert those coins in stable coins, in this way we escape from big loss.
It is always advisable that you have a defined entry and exit points with places of invalidation. This is so that you know where to take profit or to cut your losses accordingly.
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Even though this is true, but we also have to acknowledge the fact that panic sell has some potentials of making it possible for you to save and not lose much money too.
With the economy in general, there are always risks, you must have vision before selling, be confident and wait. usually it goes back up, I know many people who do not sell, take advantage of the moment to buy from nervous people and make a lot of profit.
Panic sell is two way. It can either benefit you or make you loss. Recently, a friend mine had to quickly sold some his coins when he realized that the price of coins are falling in the market. Though, he didn't make much profit as he wanted, he still make little profit from the coins he sold. If he has wait with the hope that the coins will rise again, he would still be hoping now. And, sometimes after you do panic sell at that moment, the coins will begin to rise.
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One of the things I have come to discover in cryptocurrency trading is that if you do not understand how the market dynamic works you will just be agitated uneccesirily.
everyday people are thinking to sell their coins because its not stable now and going down again and again. many friends are telling me that it will go down again and may be will reach 15000% soon
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