Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??
I think as a trader, you need to first have very good strategic plan and positions of how you want to trade for you to cut you loss short, you should also know when is appropriate for you to buy and sell and you should also have very good technical analysis skill.
Yes you are right with that. I'll share my plan, if I go for short trade first do technical analysis then I set 8%-10% stop loss then 10%-20% profit is good for me and for long term do technical analysis then position I don't have a cutloss here because it is for long term then sell 50% of my holdings when got 100% profit, 25 % on 1000% profit and 25% which is the remaing when 10000% profit gets hit.