Hello Folks,
The dynamics of trading the market change after a specific period. My concern is the spike that usually occurs especially when you are in one direction and the market moves in the opposite direction. Have you experienced such before, what is the best approach a person can take to salvage the situation?
I have had a few suggestions like opt-out, some have said canter trade so you can recover. Do well also to share how one can avoid this possible scenario.
You have to be specific with the type of coin you have in a position. If it is Bitcoin and your leverage is below 5x, I will say you should live it and don't close the position because such spikes are temporal and later reverse since they happen when news comes out. I think the one that has affected you particularly was due to the interest rate and CPI that was announced, and when the rate is relaxed, stock and crypto use to react to it, and every trade becomes nullified especially when the chart is so accurate but if its an altcoin you had in open leverage, I will say you should follow what your intuition tells you as I believe you would have done some technical and fundamental analysis before you open the trade, I can only say for bitcoin and not altcoins.