What to do if you're stuck in a trade?
What to do if you're stuck in a trade? To get out means waiting for the coin price to rise back to the buying price vicinity, and then quickly selling to recover your money. Learning to buy coins is just the beginning; truly learning to get out is what makes you a master trader. Here are two strategies for getting out.
First strategy, proactive exit:
Cut loss: If you realize that you bought incorrectly, especially at the peak after a sharp rise, then you must be decisive and sell quickly to preserve your capital. The crypto market has many opportunities, and capital safety is the most important; you can earn it back later.
Switch coins: If the coin you hold is stuck and you're worried it will continue to drop, then look at other coins. Switch to the one that is expected to rise more and has a strong trend, and use the profits from the new coin to offset the losses from the old coin.
Short selling: If you are deeply stuck and cannot cut loss, but the market or a certain coin may continue to drop, then short sell. Sell the stuck coins first, and wait for the price to drop further before buying them back to lower your cost.
Second strategy, passive exit:
Averaging down: If the buying price is not high, or you believe the market will still rise, then average down by buying more. However, with limited funds, the timing for averaging down is crucial.
Waiting it out: If your entire position is stuck, and you can't sell or don't want to add more, then just wait. As long as the money is yours and not borrowed, you can afford to be patient. Don't act impulsively or recklessly.
In fact, being stuck isn't necessarily a bad thing; sometimes, if you weren't stuck, you wouldn't make big money. So, don't view being stuck as a disaster; it might turn into an opportunity.
In the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, especially those with great potential, with an expected growth space of more than 10 times being no problem. If you want to make big money in a bull market, like and comment, and I'll take you to layout the entire bull market!
