What should I do if I am stuck in the cryptocurrency market?
1. Take action based on the position:
1. Shallow quilt: If the quilt is not deep, wait for the market to rebound and get out, or reduce the position appropriately when the price rebounds to reduce losses.
2. Deep quilt: For deep quilt, you can consider partially closing the position when the price rebounds, or covering the position to reduce the average cost. Before the new market comes, you can take the initiative psychologically.
2. Adjust the strategy according to the trend status of the purchased currency:
1. Downward trend: If the purchased currency is in an obvious downward trend, once the trend is confirmed, stop loss immediately to avoid deeper lock-in due to indecision.
2. Oscillating trend: If the currency is in an oscillating state, there is no need to rush to stop loss, calm down and wait for the currency price to enter the high position of oscillation. Once there is an opportunity to get out of the trap or reduce losses, you should exit decisively.
3. Upward trend: If the purchased currency is in an upward trend, there is no need to rush to stop loss, you can hold it patiently. As the trend develops, you can not only get out of the trap, but also make a profit.
In any case, stop loss and position management are very important risk control methods.
According to your risk tolerance and market conditions, you should formulate a reasonable trading plan and strictly implement it. At the same time, keeping a calm mind and avoiding emotional trading are also the keys to successful unwinding.