Everyone who has ever traded for more than a couple of hours have had episodes where their trades are wrecked because of bitcoin volatility reflecting on the whole market.
What tips do you guys have regarding protecting yourself from bitcoin sudden moves?
There are few tips to handle it, one of them is to do an action whenever it starts moving. For example, you sell Bitcoin whenever the price starts to move down and Buy when it starts to move up. It's gonna be hard though since you don't know how far it's gonna move and you may need to pay more attention and be aware of every move, but try to apply this to be safe.
That's basically what a day trader have been doing and it's really hard though specially if the market is not that too unstable. Less volatility movement meaning less profit for a day and that is so stressful if you'd ask me. Best is to hold it until you see some huge movement in the market.
Patience could have a big role in that position but somehow, some never think.it was helpful and insisted that they are right. I understand how stressful for us with the market like this but if you can manage it perfectly, it all be fine and run smoothly.
Theres no such thing about perfect management specially we are dealing or fighting with price volatility.Patience would really be mainly test out yet we wont know on what would be the next price on next minute.
Decisions will depend on certain situation and sometimes intuitions do really also play a role in this investment or trading activity of ours.Handling wont be easy but due to experience and long time
engaging with volatile price then you would somewhat get used to it as further as it goes.All takes time and you should be smart.