Let's say we already have everything when we open a trade, we already have a stop loss order, target price order or initial take profit price order, etc.
My question is do you consider closing your trade if those orders didn't trigger for some time?
Because for example, the trade you opened becomes sideways or stable, and no pumps or dumps happened that triggered your orders, so for some time, your trade is still open.
So, do you have a limit for your trades? Like 1 day, week, etc? If nothing happens, are you closing those trades manually?
Honestly I don't like to keep the trade open for longer time even few hours happens very rarely so I will just go with the current market price only if I am going to sell it but that is not the case while buying there is no regret in it, since the funds will be in possession so more the profits if we decide to wait more then there is no denial in that in my opinion.
Binance ftx these are the exchanges I use for cryptocurrency trading.
These have relatively less risk. If you want, you can use stop limit, then your loss will be less.
And also Browns has introduced trailing stop options for a new cryptocurrency business that will reduce your business losses and help you become more profitable.