How long do you hold your bags

[beer-k0in]

Hey,

when the GUNBOT buys coins and you have bad luck and the price falls by 20% to 40%.
Than in this lower price area the price goes up and down as always, but you still holding this bag - how long till you sell with a loss to be able to trade with that pair again?

BK

[Snowman418]

Hold. To avoid this, spread your investments across multiple coins. I've found 10% works well, so you can do 10 coins with 0.1 BTC each. If one coin suffers a loss, and you're holding the bags, it's only 10% of your holdings. Just shut the bot off and set a manual sell trade for 15% over the buy price (don't worry, at some point it'll spike back up).

I've kept a few bags and dropped them this way.

[dj31]

I ask myself the same question.    Lost opportunities might be worth more than hanging on to one trade for dear life.   I don't know....

[Snowman418]

I've been hold a 0.15 BTC bag of SC for about a week and a half. Just sold it for a 20% profit.

[XferSX]

The recent dump left me with too many bags for my liking. So the ones that were down 30% plus, i decided to buy into again at that then new low price to create a new lower sell price. Yes its risky but i was out of my bags alot quicker than just holding on. Turn that pair off, set the order, and maybe start another pair etc. I always run a surplus now....Good luck!!!

[docta]

No one ever listens to me when I say this. But the best thing to do with bags is just...SELL THEM!  Don't even wait for the price to go up!  They're already only worth whatever they're currently trading for. Unless ur actually investing in altcoins (hodling) then sell off ur bags at predetermined intervals. Once a week. Once a day. Whatever ur trading cycle is. I sell them off every night. Trust me. This will free up ur holdings into liquid bitcoins that you can immediately use to ride some other coin that's actually trending!

Compare that to waiting for 3 days or 2 weeks for your bags to grow back to whatever u originally bought them for. That's lost time. Wasted. You could have been actually making money trading other coins instead of having them tied up indefinitely doing nothing. Bags serve no purpose.

They are quite literally an invention of your mind. They seem real because you want to hold on to your original decision to buy them at whatever cost you got them for. Just realize u were wrong and get out!  Think about it for a while. Bags are an illusion that we hang onto because we don't like admitting when we're wrong. Much much better to just accept mistakes and move on!  I never started making money in crypto until I realized this.

I make tons and tons of mistakes every day. So does every successful trader. The key is mitigating the losses from those mistakes and FREEING UP YOUR CAPITAL to try try again. Bags kept me locked into mistakes & prevented me from being able to even out the losses with big wins.

[magictrade]

very interesting how your handle this !

i had made the same topic, as feature request:

https://gunthy.org/index.php?topic=409.0

what do you think ?

and they are some other request:

https://gunthy.org/index.php?topic=426.0


i hope in the next version gunbot can handle this and kraken will work with fiats (:
the night version is optical fantastic ! (:

[Snowman418]

No one ever listens to me when I say this. But the best thing to do with bags is just...SELL THEM!  Don't even wait for the price to go up!  They're already only worth whatever they're currently trading for. Unless ur actually investing in altcoins (hodling) then sell off ur bags at predetermined intervals. Once a week. Once a day. Whatever ur trading cycle is. I sell them off every night. Trust me. This will free up ur holdings into liquid bitcoins that you can immediately use to ride some other coin that's actually trending!

This is literally the exact opposite of what gunthy prescribes for the bot...