I have to double my money to break even

I have to double my money to break even.

If you're not making any gains, cash out at a loss, wait for the bottom, buy back in. Hodling can be just as dumb and emotional as panic selling.

help

Question 1 - Did you only put in what you can afford to lose?

I can afford it.
I still don't want to lose it.

>Buy high sell low

No thanks mister Goldstein

Question 2 - What are you holding?

Mistakes

Hmm. Which of those do you think will be around in 3 years?

You realize that even if you haven't sold, you've still lost, right? The only reason not to sell is if you're certain that the time it will take for a full recovery hodling is less than the time it would take to make back the loss buying at the bottom.

In the OP's case, he obviously didn't go full BTC to lose half of his investment, even if he bought at the absolute top. However, think about where we are right now. Let's say he bought near the top of some other coin. Let's say that coin's peak was 2000% higher than its early April price. For a 50% loss, that means the peak is now 1000% higher. Assuming it never dips below the April price, that means he could still lose as much as 95% of his initial. Maybe it bottoms at 200% higher, so he loses 90%.

Alternatively, he could cash out now. All he has to do is wait for it to dip to 500% of its April price; and buy back. If it goes back to 1000%, he's officially breakeven instead of waiting for it to go all the way back to 2000%. If it continues to drop, hey, at least he didn't hodl for the 1000% --> 500% dip.

Btc and tether.
Everything else was a gamble I lost.

So while not pile into BTC and sit on it for a few years? I'm assuming that was somewhat along the lines of what you were thinking you'd do when you first got into this, right?

I basically did the same thing. That's the learning curve for ya, we'll get back eventually. Riding the dips alternating BTC/USDT has been reliable though, gotta accumulate that BTC on the way down to make future gains.

>I'm back to almost exactly where I started a few months ago
>excited to see it drop even more
Who else here has cash ready to scoop up some cheap magic meme money?

>I'm back to almost exactly where I started a few months ago
What in the hell did you invest in in order to be lower than what you were at in mid-April? I started near the top in early June and I'm down only 20%-ish.

Probably bought high, sold low.

Hint: It rhymes with Bigidytes.

I set sell orders at my buy in price.
I still want to gamble a little with ANS before the rebranding and the first amount of money I actually made with this was on LTC so I might pick up some of that.
But yea that was basically my best plan, I just hate to sell at such a huge loss.
Yea the learning curve is a bitch, I just jumped in to this shit like 3 weeks ago. I know more now than I did when I started but it cost a lot.

Started in May, and mostly memes with logos I liked.

>I set sell orders at my buy in price.
How are you down then?

Bitch that's fucking nothing I need 6x to get back.


RIP in piece me

I set the sell orders, now they have to rebound for me to get back to where I was when I bought this garbage.
I just followed my gut and took some risky chances and they pretty much all backfired.

is there a story behind how you lost that much? because that's incredible

Well haven't you learned that you aren't a great trader by now? Look into the people who have done really well in this game. I'm not talking about the last few months either. I mean long term. Most of them are actually holders. Sure there are some really good traders who kill but there are way less of them. My advice for you is to pick the ones you think have a real future, move into them and start holding.

I was ahead by 1k and then set a 5k buy order for LTC at $50 right before the dip.
I made a few bucks riding waves on MTL when it was coming up so I had some confidence. Then when the LTC came in I was already 1k down on that purchase so I cashed out a bunch and bought some shit I can't even remember what it was now thinking i was gonna ride the moon and ended up holding too long and it halved in about an hour.
Then I sold and spread my remaining money out among this bullshit and it all tanked in this last dip.
And now I'm here.
At one point I had 1100 ANS and 180 LTC
Should have held that then losses wouldn't be so bad, but I got greedy and impulsive.
Yes I realize I'm not a good trader. Thanks.

>put $400 in
>Diversify
>Realize diversifying sucks
>Go all in on strat and gnt
>realize those suck
>go all in on xvg and bat
>pull out of bat at the right time, have $760
>Tell myself I could expect to get to $1200 if I play my cards right and cash out my initial
>See how bitbean mooned and how I could moon hard at porcfest if they brought their PoS
>See all the memeability and how it's a family oriented coin, through in another $200
> Both xvg and bitb stabilize at 230
>slowly bleed out
>everyone on here says HODL
>get the fuck out of bitb before its too late
>made some money riding pumps of nmr and didn't get stuck bagholding that.
>reinvest in verge because of giant july roadmap (they haven't met any project yet btw_
>'Moons' to 180
>Gonna make it
>goes to 150
>goes to 130
>goes to 100 overnight
>desperately trying to accumilate
>get fucked by monetary unit last night

;_;

Holders =/= traders. Skill at trading is potentially very independent to skill at predicting which altcoins will be maincoins in a year or three. History shows that 95% of alts from 2013-14 were shit and that their investors never recovered. History will repeat itself, and many of these whitepaper all-theoretical no-product shiny-logo-having Ethereum-powered scamcoins will collapse.

Also, those long-term hodlers that profited did so because they bought after the crash, not at the peak. If you bought $1000 BTC around the peak of Mt Gox, then holding for 4 years only netted you 270% gains best-case scenario.

>holding for 4 years only netted you 270% gains best-case scenario.
This is still way better than any other investment. Buy the lows and hold should be what most people do. Not everyone can be a good trader. And low does not mean $270 ETH.

Just shut the fuck up and keep holding
Keep it up and I'll come back when you're drowning in lambos and kick you in the dick

But that same person could have sold at a loss at, say, $700 after a couple months of waiting to recoup their losses, then bought back around the $400 dip (6 months after the crash), and then hodl'd to $2700. And I guarantee you, many traders did. Percentage losses are greater than percentage gains.

I'm not arguing that trading can result in way better gains. My point is that most people are pretty bad at it.