🤔I often hesitate when entering a trade from the top of the cryptocurrency price, especially when there are strong indicators of growth, such as positive news or high trading volume and momentum. The question here is: Do I wait for a correction and risk missing the opportunity, or enter now?
🤠I found that the best solution for me is to enter with a spot system and place a stop loss at the entry point with a slight increase to cover the fees. If the price rises, I gradually raise the stop loss to book profits and protect capital. If a correction occurs, I can adjust my position by the same entry value or increase it to benefit from the better price.
😱 But the other problem that I sometimes face is the drawbacks of exiting early due to momentary volatility or repeated fees costs when adjusting positions. Therefore, I always make sure to set the stop loss wisely and monitor the market carefully to avoid these obstacles.
🧐This tactic provides flexibility and investment protection with the possibility of achieving continuous profits without fear of fluctuations, provided commitment and discipline in implementation 🫡