I have a different view from some people.
That is, they think that there is no need to be afraid of spot, and it will pay back sooner or later.
Personally, I think that spot should also stop loss in time.
A friend asked me the day before yesterday whether to clear the PEOPLE position held at 92-93. My advice to him was to clear the position, because I wanted to take the short order of 10500 but didn’t take it, and I was expecting it to fall to 76.
At that time, it was not expected to fall as far as 51. Because it was still a falling box at that time, the 76 area was the lower boundary of the box, and there was a 76 area on the left side against the trend to bet on the opportunity of rebounding from the lower boundary of the box.
So at that time he listened to my advice and directly cleared half of the position, but subsequent facts proved that the price directly fell below the falling box, and there was no chance of rebounding at 76, and reached the next stage of support: 51 area. If my friend did not clear the position, his PEOPLE would have fallen by almost half now.
In fact, I am not willing to answer the question of whether to stop loss or not, because I will definitely stop loss in time, but if I suggest others to stop loss, I will be scolded if the price goes back up.
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