I hit the jackpot

While everyone else was upset about the dip, I was celebrating because I scored some serious cash from it. I shorted during that time and now I’m stuck wondering if I should keep trading or just step back to avoid losing it all. Can anyone offer some advice? This was from an anonymous user, what do you think?

While others are crying, he was lucky enough to make good money from short positions, which is a good one; the purpose of going into trading in the first place is to make profit, which Trump has helped him achieve in the short run. The best for him to do now that the market is not in a stable state is to relax and use the earned profit wisely; he can never tell what the market has for him this time around.

That is life, and that is how life always works. The point is, not everyone has to be sad, even when almost everyone else is sad. And not everyone has to be happy, even when most people seem happy. So, I am not always surprised when I see this kind of news, because I know not everyone will always make the same decisions.So, even in the crypto industry. The fact is, I don't think anyone will ask you to stop trading, because that is what you have been doing, and it’s what has helped you make some money. And no one is going to advise you to stop what you've been doing either.I think that decision should be yours to make whether to retire from trading or not.All I can tell you is to use the money wisely. Invest some of it in different ways but don’t go for any too high risk investments.

You expect me to believe this lie? The only people that short the market on October 10 are all insiders, even professional traders didn't saw it coming, are you an insider? Because you people are the ones responsible for that manipulation.

The amount of losses that traders have suffered due to the recent market crash has never been seen in the history of crypto. However, in this short period of time, many have become destitute, while many have received their life-changing money. Although there are very few such people who have been able to make huge profits from this opportunity. However, I would advise those who have received such life-changing money to start a good physical business with that money instead of continuing trading. Which will give them a passive income and create a source of income for their future generations. People's luck is not good again and again and they do not get big opportunities again, so they should use this opportunity to create a security in their lives and create a ready source of income for their future generations.

It's hard to believe. I've heard people say they've placed buy orders beforehand or made various profits. That night, everyone's balances were depleted, and those with long futures positions were all gone. Everyone who didn't know what was going on was asleep, and in my opinion, there wasn't much they could do. Even then, if you were in front of a computer and had your money ready, there wasn't much you could do.

You are not the only first one who benefited from dip and i can say that those benefiting from dip are those who are suspected to manipulate the market considering you are an insider. When i see the last decline i can guess that it caused the loss for many investors which can explain that this wasn't expected to happen in this harsh way.

You were lucky to be able to make money during the dip. Actually I never expected the dip, and I was shocked when I checked my mobile phone and I was receiving notification from different exchanges. You were able to shot during the trade, and you were able to make some money. Future trading is just kind of risky, and any slight mistake you going to be losing money, thats the reason why I don’t involve myself in future trading, am not really ready for that, I only trade spot, and am satisfied with whatsoever I get from there. It’s better you stay away from the market for now, make sure you check if the market has balance, you just made some money, don’t be in rush to enter a trade back because you might end up losing what you have earned previously if you rush and enter the trade again.

Take out the original plus a bit extra and keep trading if they want to.. Someone was bound to make decent money from the huge dip but it's not a guaranteed thing to be repeated (most traders aren't profitable with leverage - only about 20% manage to avoid making a loss so it's definitely worth taking out a decent chunk).

LOL, I thought it's you OP. If I am in that person's shoe, I'll retire slowly but will continue to work on my things and activities. I will continue to get invested in the market and will just look at it once in a while. No pressure at all and that's the kind of life that I want to have, no need to think that much of how the market will go because I still have some holdings left that's good for long term holding and will cash out again if the market requires me to.

If it is a life fortune money like over $100 thousand or above $1 million, he should just stop trading because trading is very risky. Or he should only trade with the money that he can afford to lose. You posted this in altcoins discussion board, which means the person is trading those shit coins, he should avoid them.

No matter what advice that any experienced trader will give you the decision on whether to stop or continue rests on you so you should think dip and know what you actually want. If you are a professional trader with experience I don't think that you should just stop because you made a life changing profit, you can always trade with what you can afford to loose until you are convinced that it is time for you to move on. If you are not greedy to be using significant amount to enter your trade you can still be trading without feeling that you will lose all the profits that you made.

It is difficult to suggest anything without knowing more but this sounds like a one time thing, a random bet that due to pure luck got you a "win". In which case you should take your lottery winnings and be happy you got lucky. Otherwise, it is up to you. Start thinking how many of your past decisions in this market had turned out to be correct and made you profit. If you can't find that many, then again my advice above is viable. But it this is a regular thing and you are regularly making good decisions based on your accurate read of the market, then you should continue. But the way you are asking this question is telling me the initial assumption (lucky bet) is correct. There is a third option as well. Take a portion of your "win" (it could be 50% or even more like 80%) and enjoy your profit. Then use the remainder to continue trading. That way even if you lose this amount, you won't be sad because you got a good chunk of your money out already. But if you manage to make more profit, then it is even better.

When the market goes down, many people panic and that is normal but at that time you have made a life changing amount of money by taking a short trade from here it is really great. But in this case I would say that you should definitely take a break. If you do not take a break then you can lose that money. There are some who continue trading for more profit after getting good reward. So in my opinion, hold the profit and take some time to understand the market trend and start trading again.

Congratulations on making something good from the market. In my opinion, the best thing you can do now is to use at least 80% of the money and buy bitcoin at the current price and forget about it for now. Don't continue with trading else you might lose the money back to the market and don't think about converting to fiat and saving in the bank because inflation is waiting for your there. Bitcoin is your best bet at the moment and the price is still relatively cheap. The 20% should be enough for you to settle some needs and even establish another form of business to diversify your income.

I have always said, if you have enough money to retire and never worry about money again, then always cash out and leave. The point of making money, is to live a life without worrying about it, and if you reach that level, whatever you do afterwards is a risk. Why take risk when you already achieved what you aim? The whole greed of humanity has caused way too many people to collapse and bankrupt after being rich, while we have seen and heard of great success stories, failures are the real trouble that you do not hear. A lot more people lost money and wealth than people who made it, that's why there are more money at the top but fewer numbers. So realize that you have already reached where you want to reach, and leave with the money and live a happy life.

Here is a fact that must be accepted, not everyone can be lucky enough to make money from the market. Each of us will inevitably experience losses and profits, depending on how you, as a trader, look for opportunities to find loopholes. As recently occurred, unexpected bad news caused the market to plummet significantly. The market reacted swiftly to this news, presenting traders with an opportunity to seek profits, though it is, of course, extremely high-risk. Personally, i prefer to wait and see, avoiding long/short positions due to the market's high volatility.

But as a user to crypto currency’s can be unlucky in all our journey in crypto currency. But what if the trader or users put in the hard work and keep moving way further and never stop learning will such a user experience loss and drawbacks. I am aware that hard works pays and when one keeps the commitment and consistency going through crypto currency then such person will come to see good results.

Lucky you. Anyways, it was quite a risky move you planned but still ended up making profit so I would recommend you to trust your instincts instead of going for others' suggestions as your instincts are the ones who made you gain profits. Mostly everyone here is already bullish and might have not supported your approach to go short. Yes, even I was thinking to go short for a meanwhile but I would still prefer being bullish until bitcoins are above $100k. Even in bullish markets, you can still have profits coming from short trades as there will always be minor pull backs and corrections. Markets never continue to go in one direction. Even if you see a daily solid green candle, it will still have a lot of red candles if we open shorter time frames which are the opportunities for short sellers like you.

Congrats to him!! that is a huge achievement! making life changing money from trading is not easy and many people lose instead of to win but the truth is the market will always be risky and if he is not careful! he might just end up giving it all back. my advice is that he secure a big part of the profit first maybe move it into safer investments or savings. if he still wants to trade he can use only a small portion of the profit and trade with less pressure!!! that way even if losses come then his life changing gains are already protected.