About Taking Profit and Stop Loss
First of all, taking profit and stop loss must be predetermined before triggering a trade action. In plain terms, this is something you should think about before buying or opening a position.
About Altcoin Stop Loss:
The cryptocurrency market is highly cyclical, and in this market, Bitcoin generally has the longest cycle, while altcoins often have faster rise and fall cycles, and most altcoins only have one cycle. Therefore, compared to Bitcoin, altcoins must 'frequently stop loss' because you don't know if the altcoin you choose will always follow Bitcoin during a complete bullish-bearish cycle, or if it will be a fleeting moment.
About Contract Stop Loss:
Better to stop loss 10 times than to blow up once.
Stop loss is a form of resilience towards the market, a form of self-restraint; it is the external expression of internal self-control. You may defeat me, but as long as you can't kill me, I will always come back.
Blowing up a position is a form of indulgence, an extremism, a foolishness of going down one road to the end, with a collapsed mentality. Either die, or die more completely.
Since I started engaging in contract trading, I have stopped loss countless times but have never blown up a position; this is the trading discipline I set for myself, and I have developed this muscle memory.
Have I ever been on the top? Of course! Frequent short-term trading makes being on top a norm, and controlling the frequency is also a skill.
If you like contracts, enjoy studying market trends, and researching techniques, click on the avatar. With many years of experience and skills in the cryptocurrency circle, I share freely. I am waiting for you in the circle, always online, welcome to discuss and progress together.
