sometimes it's better to accept loss then let the hole go deeper if you are not sure about the outcome to be positive then close the position on minimal loss and try stoploss next
From100toMillion
·
--
Trading Day Update: Holding Positions & Market Uncertainty
It's been two days since I opened a short position on $BROCCOLIF3B, but I haven't been able to close it in profit yet. After closing my $LAYER short, I opened a short position on $GRASS, but unfortunately, I misread the market direction and I'm currently in a losing position on this trade as well.
The market isn't always predictable, and sometimes patience is key. Let's see how things play out. What’s your strategy when facing uncertain positions?
The post I made last night went viral, and many people questioned it while many asked for the method. So, I will share my insights on event contracts that I researched without charge. Currently, I have nine consecutive wins, with seven long positions and two short positions. When a V-shape or W-shape upward trend appears at the bottom, and the outflow in 15 minutes is less than that in 30 minutes, you can go long. Similarly, you can short at the top. This method has been tested and proven effective; however, the market carries risks, and investments should be made rationally. Don't get carried away; small funds are sufficient. This method is not suitable for frequent trading, so remember not to get carried away!
$SOL 125 is a long standing strong support get your entries according to the analysis because there are signs of a strong market reversal if the support breaks avoid the trade .
Trading is never 100% conviction the best traders just know how to manage risk to reward ratio the better the risk to reward ratio the better the trader
BTC just broke out of a resistance zone at 5m timeframe upon successful testing and a long position if there is a rebound than it will continue its sideways trend or upon successful resistance breakage and rebound price could fall massively keep an eye on it
As you can see, $NOT is in the first place, which indicates that the GameFi sector is currently leading. And this quarter, Q3 2024, will be filled with listings of new projects in this sector. At the very least, we expect listings for Hamster Kombat, Pixelverse, Tapswap, Memefi and many other projects.
Stop loss is a mechanism for traders to minimize their losses if the trade goes against them. You can think of it like insurance to avoid you from losing much bigger size later on.
There are multiple stop loss method that you can implement.
1) Hard stop-loss
Setting a specific amount you willing to lose at certain percentage. Set using stop-limit order
Doing nothing and just wait to take profits or your hard stop loss is hit.
This method is strict and perfect to keep you consistent throughout the game. It removes certain variables that might affect your trading in psychological level.
2) Mental Stop Loss
Similar to hard stop loss but you didn’t set any limit orders and just watching the level where you might cut your position if the trade goes against you.
This is a highly trained skill, not recommended for those who are not used to using Stop loss in the first place.
It can make you involved in your trades emotionally which is bad for your trading.
3) Trailing Stop Loss
You can trail your stop loss either automatically(Depend on platform features) or manually by monitoring price changes over time.
Sometimes price trends higher and you want to maximise your profit but at the same time taking care of your downside. This is the perfect solution for it.
Need to learn how to trail properly by try and error in each coin that you enter. Every coin have different volatility, especially memecoin.
There are other types of stop losses but this are the main ones that every traders have used previously.
There is no one size fits all, it depends on your trading strategy, profit-taking strategy and your Trading System as a whole.
Make sure you develop your own trading style first then implement everything one by one.
Bitcoin is rebounding from the support trendline after being rejected by the horizontal supply zone level. The 200MA is acting as resistance above the current price action.
We need to wait for a breakout or breakdown. A breakout would confirm a bullish trend, while a breakdown below the trendline would indicate further correction.
• How stupid can you be to buy coins because someone is giving positive remarks about them , remember do your own research and due diligence so you can't be dumped on .
#BinanceTurns7 : "I am writing to express my sincere appreciation for Binance, a leading cryptocurrency exchange that has revolutionized my engagement with the crypto market. Prior to discovering Binance, I found the concept of cryptocurrency trading daunting and inaccessible. However, Binance's user-friendly interface and comprehensive resources made it easy for me to navigate the crypto world.
Log in to explore more content
Join global crypto users on Binance Square
⚡️ Get latest and useful information about crypto.