Here are some of my personal ideas for getting out of a position, hoping to help fellow crypto enthusiasts:
First: Based on your current holdings:
1. If you are a trader with a minor loss, you can take advantage of a rebound to exit the position or reduce your holdings at a high point.
2. If you are a trader with a significant loss, you can make partial purchases at high points or buy more to lower the average cost, thus gaining a psychological advantage before the market moves in your favor.
Second: Based on the trend status of the purchased coins:
1. If the purchased coin is in a downtrend, once the downtrend is confirmed and the trend is established, it is advisable to cut losses immediately, without any wishful thinking. Because sometimes any hesitation or doubt may lead to deeper losses, making it harder to recover.
2. If the purchased coin is in a balanced consolidation trend, there is no need to cut losses immediately. Patiently wait for the coin to enter a high point in the consolidation cycle. Once you are out of the loss or it is minimal, you should decisively exit.
3. If the purchased coin is in an uptrend, there is no need to cut losses. Hold on patiently for a while, and you will definitely recover and may even have significant profit potential.
The bull market has started, but if you've been trapped, follow me closely to recover your losses!
Daily trading, continuous profits!
