Post
Topic
Board Trading Discussion
Re: what if faced with such a situation and what your backup plan is
by
patt0
on 04/03/2018, 22:00:25 UTC
whether you have a backup plan if you are involved in trade issues, such as significant price reductions or down too far, and there are two options that exist in your view between holding or selling them, each having different risks, holding back and expecting prices to back to normal but I think it will take a long time or sell it and accept the loss and then buy it back with the sales you have generated.
maybe you some better advice you can give me.
i appreciate everyone's opinion.

I really think you need to enter a trade with a plan made. When I say a plan I mean that you must decide what you entry level is, what your stop loss is, and what is your exit plan as well (talking about profit here, and loss on the stop loss). Once you made these decisions, you should follow them, and commit to them during a month or something like that, to see if what you are doing works. It's very easy to make the mistake of changing your mind during a trade, specially when you are losing money, but if you keep changing you will never know if your plan is good for the long term.