#WOO HITTING OUR STOP LOSS BEFORE TAKING ANOTHER 13% DOWN
There are times when the market hits your stop loss before moving down and that's okay. A totally normal market process that takes more liquidities before moving to a certain direction.
What can we do better when we're at risk of hitting these stop losses?
There are several strategies that would work such as turning your stop loss into an entry point, doing DCA to move your average entry price and as well as potentially moving your stop loss and other strategies available. Although, what works the best would be to... just accept the loss and move on to your other trades.
By doing this, you can allow yourself to take a breath and create better plans for your next trades. This is not a gamble but a business. There are many who trade using more than 10% of their total capital without considering that they can earn more with 0.25%-2% for every trade rather than doing bulk percentages on a single trade.
This formula would allow you to take losing trades without worrying and move on to attain more winning trades.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
