Facing the situation of being trapped in a trade, don't worry, here are a few practical strategies to help you relieve your worries!
1. Adjust your strategy flexibly based on the depth of your position
1. For investors who are slightly trapped: You can take advantage of market rebound opportunities to quickly break free and exit, or moderately reduce your position at a high point to lower risk.
2. For investors who are deeply trapped: You may consider partially increasing your position or averaging down at a high point to lower your average holding cost. This way, when the market reverses, you will have a psychological advantage.
2. Formulate corresponding countermeasures based on the trend of the purchased cryptocurrency
1. If the purchased cryptocurrency is in a downtrend: Once the downtrend is confirmed and established, it is recommended that you decisively cut losses and avoid wishful thinking or hesitation. Remember, hesitation may lead you deeper into a trapped situation, making it hard to escape.
2. If the purchased cryptocurrency is in a balanced fluctuation trend: You can patiently wait until the cryptocurrency enters a high point in the fluctuation cycle. Once you break free or the loss is minimal, you should decisively exit to avoid unnecessary risks.
3. If the purchased cryptocurrency is in an uptrend: You can patiently hold on, waiting for the opportunity to break free or even profit. After all, in an uptrend, your position is likely to gradually break free as the market rises, or even achieve considerable profits.