If you are currently at a loss and want to treat trading cryptocurrencies as a second career in the future, please read carefully; there will definitely be gains, and it's recommended to bookmark this!
About the methods of getting out of a loss:
First: Based on your current position:
1. If you are a trader with a slight loss, you can use the rebound market to exit or reduce your position at a high point.
2. If you are a trader with a significant loss, you can consider building a position at a high point or averaging down to lower the average cost, which will give you psychological leverage before the market moves.
Second: Based on the trend status of the cryptocurrency bought:
1. If the cryptocurrency you purchased is in a downtrend, once the downward trend is confirmed and established, it is advisable to stop loss immediately; you must not harbor unrealistic hopes. Because sometimes, any hesitation may lead to significant losses, making it difficult to extricate yourself in the end.
2. If the cryptocurrency you purchased is in a balanced oscillation trend, there is no need to stop loss immediately; patiently wait for the cryptocurrency to enter a high point of the oscillation cycle. Once you can break even or the loss is minimal, you should decisively exit the market.
3. If the cryptocurrency you purchased is in an upward trend, there is no need to stop loss; patiently hold for a while, and you will definitely break even or even potentially make significant profits!
4. Sharing an operation from a follower since June!
