Methods to Resolve Cryptocurrency Trading Positions!
1: Based on the current holding position
1. If you are a trader with a shallow 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 deep loss, you can make partial purchases at a high point or buy more to lower the average price, so that you can take psychological control before the market movement occurs.
2: Based on the trend status of the purchased cryptocurrency
1. If the purchased cryptocurrency is in a downtrend, once the downtrend is confirmed and the trend is established, it is advisable to stop-loss immediately. Do not harbor illusions of hope.
Hesitation and indecision may lead to deeper losses, ultimately making it difficult to extricate yourself.
2. If the purchased cryptocurrency is in a balanced fluctuation trend, there is no need to stop-loss immediately. Patiently wait for the cryptocurrency to reach a high point in the fluctuation cycle. Once you can exit with minimal loss or break even, you should decisively exit the position.
3. If the purchased cryptocurrency is in an uptrend, there is no need to stop-loss. Hold on patiently for a while, and you will inevitably recover your position and may even have a significant profit potential.
