i invest all in different coinss, suddenly market crash at night, my portfolio 1900 usdt,now become only 800$ remaining,,, now at 1055 usdt,, what can i do now to recover my loss
Horain Baloch
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š” The Best Trading Advice I Ever Received (And Why It Changed Everything) š
When I first started trading, I was thrilledābuilding my portfolio, buying coins, and dreaming of huge returns. Everything seemed great until a conversation with a successful, experienced trader changed my perspective.
He asked me, āWhatās your profit-taking strategy?ā I replied, āI donāt have one yet.ā He looked at me in disbelief and said, āThen youāll fail. You canāt just buy and hope. Whatās your planā2x, 3x? Whatās your exit strategy? If you donāt have one, thatās a problem.ā
His words stung, but they were spot-on.
š„ What I Learned the Hard Way š° 1. Always Set a Profit Goal šÆ If you donāt know when to take profits, youāll end up making emotional decisions. ā For instance, when I bought Ethereum ($ETH), I set a target to sell part of my position at 2x. This kept me from second-guessing during dips.
š 2. Scale Out Gradually, Donāt Wait for the Peak ā¬ļø No one sells at the absolute top, so itās better to take profits in chunks. š” Tip: Take out 25-30% of your position when you hit 1.5x or 2x gains. I used this strategy with Cardano ($ADA), which helped me lock in profits even during market fluctuations.
š§ 3. Have a Plan for Every Scenario š What if the coin doubles? What if it drops 50%? Write down your plan and stick to it. ā I hold Chainlink ($LINK) long-term but still set profit targets in case of sudden spikes.
š Key Takeaway: My friendās blunt advice saved me from a lot of bad decisions. Trading isnāt just about buyingāitās about knowing when and how to take profits.
š„ Whatās the best (or harshest) trading advice youāve ever received? Share below! š
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
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