Don't panic if you're stuck! Try these four self-rescue methods
Many brothers panic after being stuck, either holding on until they break mentally or cutting losses chaotically and losing even more—actually, there's no need to rush. I've compiled four practical self-rescue strategies that you can use based on your situation:
1. Cut losses first, protect your principal: If you're stuck at a high level and the market keeps falling, cut the positions with particularly heavy losses first, and don't let the risk spread further. Remember, as long as your principal is still there, there will always be a chance to make it back, don't lose everything on the table.
2. Hedge to reduce losses: If you really can't bear to cut losses but are afraid of further declines, consider opening a small short position or a reverse ETF. If the market continues to drop, take the profits from the hedge first, then decide whether to keep the original position; if the market rebounds, close the hedge, at least you can reduce your losses a bit.
3. Reduce costs by trading during fluctuations: If the market is oscillating without clear upward or downward trends, use your base positions for intraday high selling and low buying to gradually lower your costs. But I must remind you, this tactic requires enough monitoring time and strong skills; if you're not confident, don't force it, to avoid losing more.
4. Add positions after the decline stabilizes: Wait until you're sure the market won't drop further and valuations are at low levels before adding positions gradually. The key is to only add those high-quality coins that have been oversold, and don't go all in at once; leave yourself some room, so you don't exhaust all your bullets at once.
If you're still unsure about how to operate, contact Xiao Wai, and I'll help you look at the specific situation and clarify your thoughts.
