A volatility of six to seven thousand points in one night may leave many people facing trapped long positions. I have organized some methods for relieving positions here, hoping they are useful to everyone. You can also consult for free on how to relieve positions.
First: Based on the holding situation
1. If you are a trader with a shallow trapped position, you can use the rebound market to relieve and exit, or reduce your position on the highs.
2. If you are a trader with a deep trapped position, you can consider partially building positions at highs or averaging down, so that you can take psychological initiative before the market trend arrives.
Second: Based on the trend status of the purchased coin
1. If the coin you bought is in a downtrend, once the downtrend is confirmed and the trend has formed, it is recommended to stop loss immediately; do not entertain any illusions of profit and loss. Sometimes, any hesitation or doubt may lead to a deeper trap, ultimately making it difficult to extricate oneself.
2. If the coin you bought is in a balanced fluctuation trend, there is no need to stop loss immediately. Be patient and wait for the coin to enter a high point in the fluctuation cycle. Once the position is relieved or the loss is minimal, you should decisively exit the market.
3. If the coin you bought is in an uptrend, there is no need to stop loss; hold patiently for a while, and you will definitely relieve your position and may even have a significant profit potential.