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.
In speaking about on how to avoid situations like this specially on short term approach then the best thing is never ever make yourself get caught when it comes to FOMO on which these is usually newbies do really
get caught or even veterans on the time that they would really be able to make out some purchase on the peak spot on which they would really be putting up themselves on a situation on which they would neither
be making up some cut-loss or would really be waiting for their investment to become a dust. This is why it would really be always recommended that you should really be that wise on taking up decisions
whether you would really be needing to cut loss or would be waiting depending on what coin you are dealing with.
If we are talking about coins which are just that good for pump and dump then it would be better to cut-loss before its too late, but if we do speak about coins which are really that established or top
ranking ones then better to hold your position and wait up for pullbacks or recovery. As long you arent that involved with futures and not get liquidated then it should be fine
and you do still have the chance.