What to do if your contract long position is trapped? This is the psychology of all of you, without exception!

Commonly used methods to get out of the trap are that simple: Get a grip!

Cut the mess with a quick knife: If the coins in your hands keep falling and there’s no sign of reversal, don’t hesitate, stop loss and get out quickly, and even consider shorting. Never hold on stubbornly, or you’ll just fall deeper.

Sell high and buy low: If the market is volatile, with the coin price rising and falling, you can take the opportunity of a rebound to sell a little at a high point and buy it back at a low point, which can reduce costs.

Lower the cost: When the coin price drops to about the bottom, you can add a bit more to lower the cost, and when it rebounds, hurry to withdraw.

Short hedging: If you are already deeply trapped and although it’s still falling, you think there will be a chance to recover later, then go short, and the short position should be larger than the long position to earn back some losses.

When trading contracts, set your take profit and stop loss well, don’t be too greedy, and don’t procrastinate.