If you lusted for green, chased a pump and got caught out then here's what to do...
It's so much better to have implemented a stop loss at a predetermined percentage before taking on any trade.
That could be 3, 5,10,15 or 20% depending what kind of trader you are and the level of risk/reward you go for as well as your trading profile such as conservative, moderate or aggressive.
When you cut your losses you don't lose time holding your units and are able to free up those funds for other more profitable trades.
Don't become a long term bag holder unless you really commit to long term investing and you believe in the project, regardless of whether it pumps again in a week or a year.
Why are so many traders unwilling to implement this?
Whatever your goal is this is a best practice you can employ and profit from.
This is how you can approach many market conditions and sentiment without getting punished with losses.
All it takes is the right action at the right time.
Thank you for reading this post because I hope it is helpful for you should you wish to cut losses quick to save time, and free up your funds for other more profitable trades.
If you think this is a helpful post for beginners to the crypto currency space, would you please upvote this because it will help me share more insights to success and profit with digital currencies.😋
All my hopes and dreams.