Scared right now

Status
Archived
Joined
Jan 2018
From
Edmonton, Canada
So as I mentioned before I'm new at this whole thing and right now the majority of my crypto is in Eth. But seemingly because of some fake news and possibly other factors, its tanking and isn't recovering super quick. I know I shouldn't panic and just ride it out, but it hard. Eth will recover right?
 
Joined
Jan 2018
From
Michigan, USA
So as I mentioned before I'm new at this whole thing and right now the majority of my crypto is in Eth. But seemingly because of some fake news and possibly other factors, its tanking and isn't recovering super quick. I know I shouldn't panic and just ride it out, but it hard. Eth will recover right?
Just hold on this is a volital market. Eth not going anywhere. Hopefully you got in when was alittle lower, but I believe this will swing back around. I don't have much money with Eth except what I use to pick up smaller lesser known crypto currency that I think will give Bit coin a run for there money.

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Joined
Dec 2017
From
UK
I only have a couple of ETH, mainly for trading out on other exchanges for alt coins. If I had more cash I'd buy more ETH in a heartbeat, especially if the price dropped. I'd buy ETH before I'd buy BTC.

Cy
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
So as I mentioned before I'm new at this whole thing and right now the majority of my crypto is in Eth. But seemingly because of some fake news and possibly other factors, its tanking and isn't recovering super quick. I know I shouldn't panic and just ride it out, but it hard. Eth will recover right?
For those of us who have seen multiple cryptos drop by half their value in a matter of days, you should always take the long view of crypto. The best advice is this: if you start to see the market go down, log off and go do something else. Come back a few days to a week later and you’ll probably be back to where you were or higher.
 
Joined
Dec 2017
From
Belfast n. Ireland
i think alot of people like myself are trying to speed the process up you feel if you are doing something you have more chance of making money but ive started to learn from my little time at this that i get itchy feet and move when its not doing well and i look back a week later and the coin is up and if id left it alone id be alot better off
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
i think alot of people like myself are trying to speed the process up you feel if you are doing something you have more chance of making money but ive started to learn from my little time at this that i get itchy feet and move when its not doing well and i look back a week later and the coin is up and if id left it alone id be alot better off
Absolutely. I learned my lesson with NXT. I bought a bunch when it was way under a dollar. And sold at .08 thinking it wouldn’t go much higher. Then a few months later it went over $2. I’m done selling. Buy and hold = best strategy.
 
Joined
Jan 2018
From
Eu
I am not sure how to setup a stop loss on any of the exchanges I have accounts with. That said you can download any number of apps on your phone such as CMA CoinMarketApp (I have no financial interest in this app), there are done of them. In the app you can select your favorite cryptos to follow (like the ones you own) and you can set up alerts such as an alert when the crypto goes up or down a certain percentage or goes down to a certain price. If such happen you get an alert where you can then login to your account and trade the crypto or cash out (I use gdax/coinbase to get back to cash).

I have traded stocks for years so with my stock brokerage firms I can set this up to automatically happen, I just haven't taken the time to find out if I can set this up for any of my crypto accounts to happen automatically.

Check out IQ Option, very intuitive interface and App. No problem to set a stop loss limit, or rather a percentage loss limit.

https://iqoption.com/land/start-trading/en/
 
Joined
Jan 2018
From
Matrix
My friend too has some ETH and the same thing he asked me: What to do? Nothing, just to keep them... Many people are panicked in such situations and took out the money when they were under profit with the fear of not falling further. However, nothing is certain, I just hope you have not invested a huge amount but one that you can lose it. Good luck!
 
Joined
Jan 2018
From
usa
I am not sure how to setup a stop loss on any of the exchanges I have accounts with. That said you can download any number of apps on your phone such as CMA CoinMarketApp (I have no financial interest in this app), there are done of them. In the app you can select your favorite cryptos to follow (like the ones you own) and you can set up alerts such as an alert when the crypto goes up or down a certain percentage or goes down to a certain price. If such happen you get an alert where you can then login to your account and trade the crypto or cash out (I use gdax/coinbase to get back to cash).

I have traded stocks for years so with my stock brokerage firms I can set this up to automatically happen, I just haven't taken the time to find out if I can set this up for any of my crypto accounts to happen automatically.
thanks
 
Joined
Jan 2018
From
Austin, Texas
No need to worry, ETH is probably the most resilient cryptocurrency out there thanks to ERC20. ETH will definitely recover, so buy and hodl, until the price increases. Then sell it and buy something smaller, which, in turn, will bring you higher profits (for example, ICO). Some ICO's that I have bought in the past and am currently satisfied with are Monero, GatCoin, Cointed, Giftz, etc. All of them have an amazing team, nicely-written whitepaper and great ideas.
 
Joined
Jan 2018
From
USA
So as I mentioned before I'm new at this whole thing and right now the majority of my crypto is in Eth. But seemingly because of some fake news and possibly other factors, its tanking and isn't recovering super quick. I know I shouldn't panic and just ride it out, but it hard. Eth will recover right?

Yup, I guess so. But you need to stay focused and your fear will keep bringing more fear and you will become of scared. And you need to pay your respect all the time. Write Ethereum or ETH, not Eth. All the best.
 
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