As I say in the video, I heard a good idea for trading in a bear market, while searching for the bottom. Minimizing risk, and maximizing possible gains by implementing "stop-loss orders".
If you are new to trading, or if you are looking to buy more crypto at the bottom, you might find this video helpful as a technique to find that bottom.
Play the Bounce:
How to Buy the Dip Wisely:
- Know the support and resistance on your favourite crypto chart.
- Set buy orders at a major support/resistance.
- If your buy order is filled, then…
- Set “stop-loss orders”, at some slightly lower level, which will liquidate your investment if the bears press right through that support/resistance line.
- Also, you will need to set sell-orders, at higher points, so you can close out profits (in case it bounces hard, and then falls back lower).
Again this is not my technique, and it may seem simplistic to you, but it was not to me, and so I thought I’d share my view and excitement about this approach to buying the dip, wisely.
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That's all for today, have an awesome afternoon and God bless. Take care and talk soon.
