Quote from: Deku on September 11, 2018, 07:01:14 AM

Quote from: andrei56 on September 10, 2018, 04:27:31 PM

Quote from: showbiz111 on April 28, 2018, 03:47:54 PM

Hello guys please can we share our view as a successful crypto trader how do you cut your loss short??

When it comes to trading you should always have an exit strategy even before you make a trade, you need to set an amount of money that you are willing to tolerate to lose during that trade and once you lose more money than that you need to cut your losses and move on, I know that a lot of people do not like to think about this but if you do not think about the worst case scenario then you will not be prepared for it.

indeed a strategy is very necessary to play trading,
because if you make a wrong move your money will definitely get stuck and you have to play cut lose

A strategy is a must especially in this market that is so volatile, if you make the right trade you can easily earn a lot of money like what happened with ripple during this day but if you are in the wrong end of a trade you can be destroyed with just one trade and you do not want that, so you will need to set a limit to the amount of money that you are willing to lose.