Being trapped is a common problem. Here are some strategies to get out of the trap. I hope they will help you. But first, remember: set a stop loss when trading. Although this may lead to a small loss, it is better than being trapped in a larger risk.
Locking positions should be used as a last resort and is not recommended unless there is no other choice. The first priority of investment is to control risks so that profits can be ensured. Here are three strategies to get out of the trap:
1. According to the position:
- Those who are slightly trapped can use the market rebound to get out of the trap or reduce their positions.
- Those who are trapped at high positions can consider partially reducing their positions to gain psychological and financial advantages.
2. According to the technical status of the currency purchased:
- Stop loss should be stopped immediately when buying at high positions.
- You can wait and see when buying at medium positions, waiting for the trap to be untied or reducing positions.
- There is no need to rush to stop loss when buying at low positions, and you can cover your position at the support level to reduce costs.
3. According to the trend status of the currency:
- There is no need to stop loss in an upward trend, and wait patiently for the trap to be untied.
- There is no need to stop loss immediately in a balanced oscillating trend, and wait for the oscillation high position to be untied.
- In a downward trend, once the trend is confirmed, stop loss immediately to avoid further losses.