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RE: STEEMIT COMMUNITY...I NEED HELP. Bleeding Red in the Trades.

in #money8 years ago (edited)

What you should do depends on your reason for holding X crypto(s). If you're in as an investment, hopefully you put in what you can afford to lose, and, if you did, it would probably be best to hold onto your positions, because it'll be about the time you sell that the markets will turn again and it'll likely be bitcoin bleeding at that point.

If you entered as a trade without a stop loss, well, what can I say? I guess, consider this your lesson (I've been there and it sucks, but you'll grow from it if you make it a point to).

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Considering the foreign exchange market is a trillion dollar a day market, holding for the long haul won't be too bad an idea. I think I can afford some loss, haven't experienced this but I can't imagine losing much more than $1k short term with a long term appreciation to an eventual gain. Thanks for the input! Lacking confidence in my finance knowledge right now.@jamesbrown - I really appreciate it. Have been following the market, but thought the BTC would stop by now. It's starting to lose its steem (lol) as the night rolls on, I hope! Thinking I'm going to hold. Most of the coins seem to have decent contracts and technology based on the infantile stage of the crypto industry.