If your long or short orders are trapped, the first task is to get rid of them first, instead of thinking about making big profits, because getting rid of them is equivalent to making profits, which can not only recover your costs, but also make your mentality recover well.
This friend had a long and short double-traded order when he first came in yesterday, but he was most worried about being deeply trapped in the short order yesterday, because I asked him that if he did not hedge, the long order liquidation price was BTC30,000 US dollars, so the long position was well controlled.
Yesterday, BTC rose slightly to around 66,400, and he was in a hurry to get rid of the trap. Brother Sanma directly gave him the profit and loss plan for the short order, that is, breaking through the stop loss of 66,500, and the profit stop was placed on the cost price of the short order at 65,268. As a result, he got rid of the trap when he woke up today.
He knew that the general trend would still go up, so he was not nervous about opening a long position at a high position. However, Sanma Ge’s idea was that although your liquidation price was far away, you should never take it lightly. The most important thing was not to add positions randomly. Even if you could not control your hands and added positions randomly, you must set up stop-profit and stop-loss, so as not to affect your original cost price.
Experience: Don’t panic and operate randomly because you shorted when the price soared or you went long when the price plummeted. This is not a good emotional side. You must bring stop-profit and stop-loss when you place orders, especially when it is beyond your short-term controllable range. Yesterday, he was informed that BTC did not break through 66,500, so his short position was relieved. Stop-profit and stop-loss should depend on the cycle you want to plan. $ETH