How To Protect Yourself In This Situation

[ncbeachdude]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

[mk4]

Good capital allocation through proper bankroll management; basically, not going full YOLO and setting offers using 50%+ of your total bank roll. Just so if you lose the trade, you'll have enough funds to potentially bounce back in your subsequent trades. There's just so much you can do to control your risk through your exchange offers.

[kram31]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

Using the method of stop loss I think is one of the safe things in doing trade in the exchange.
However, the price of Bitcoin so far was around 36, 000 plus something. It bounce back again to 38, 000 to 40, 000$
each for sure this coming a couple of days for sure.

[traderethereum]

Using stop-loss will be the best thing you can do to prevent the big loss because we do not know where and when the market will moves.
If the price is down from $37,000 to $35,500, your order sell will fill, and you only need to wait for the next order buys at $34,900 will fill.
If that can be fill in the next minute or hour, you will have your bitcoin and if the price can bounce up to $35,000 while you place an order sell at $35,000, it will fill your order sell.
After that, you can repeat the process like that, but you need to analyze more to find a good price to buy or sell.
But you need to remember that the market will not always follow what you want because many traders in the market that will have their own purpose.

[XZERO1]

Good capital allocation through proper bankroll management; basically, not going full YOLO

^This, dollar cost averaging works great in minimizing risk and giving you a better entry price and less exposure, my suggestion is to always start buying with 10% of your capital even when you think it's a perfect opportunity, that way you will be able to layer more buys if it drops more.

For example: You buy a token/coin with 10% of your capital and if it goes up you can set take profit or let it ride with tight stop-loss, but if it happens to go down even more you add another 20% and so on, unless we're in bear market if you choose your coin/token right and it has a great fundamental it has to bounce at some point at give you a decent profit at least or at the worst case scenario you should be able to get out of that trade in break even.

[stomachgrowls]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

When my SL got triggered or being touched then i dont really make out some buy orders below it.I do tend to  wait up a little bit more on where i do see for it to settle down and would have some
price pullback.This is the hardest thing to be done on where you should determine on whats the buying point, neither you do enter to early or late it doesnt matter because
once it do pullbacks then you would definitely make out some profits.

Protecting yourself will be depending on how you do handle out risk management and every each one of us do have their own decisions on when to and not to get in.
Sometimes intuition and self instincts would get involved into this one.

Losses are inevitable but you should know on when to take action to regain those losses and profit in the end of the day.

[boyptc]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

Stop loss or convert into a stable coin. That's all you've got to do to protect yourself from further loss.

And if you've done it, you're genius because bitcoin's price now is $31,400 and might drop some more and we'll actually get to see $20k-$29k again.

[Kitaiev]

When starting a deal, consider all the risks and learn to insure yourself against large losses. Use the option so as not to lose money if the market is not going in your direction.

[Ucy]

I will avoid selling and hope it goes back up, but if it doesn't, and instead goes down significantly, I will look for more fund (fund I can afford to risk/lose) and buy the dip in anticipation of recovering my lose with this last fund when there is significant rise in price again.
Will probably set my first fund to sell anytime price rises above the 37000 or above the level that'll be profitable for the fund.

[Silberman]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

There is no way to protect yourself against that, that is a very common phenomenon that is called a whipsaw and every single strategy in the market suffer losses when that happens, the only way to deal with it is to have a very strong money management skills and to not let those losses get into your mind to the point that you make a reckless trade and then you lose a significant amount of money because of it, I know that is probably not what you want to hear but it is the truth.

[kapalmabur]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

This strategy is always used by traders, I often trade, and have used the stop lose feature for years, and stop lose is certainly very helpful for me,
there is no more prevention than to buy back at lower prices, and accumulate until you really reach the target that you have decided,
if you don't buy back anymore, the losses you will certainly increase, but if you have a lot of capital, I'm sure your emotions should be controlled.

[crzy]

You have to create plans and avoid the FUD, you just have to focus on your trading settings and you’ll be fine. Beside, you should anticipate the corrections because it is inevitable so set up your cut loss level. Don’t panic, and keep on monitoring the market if you’re a trader, buy again at the bottom.

[cyriljundos]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

i think you must convert those btc of yours to other alternative coins so that you can avoid those losses. In that way you can possibly gain profit when you choose the right coin you invested in. losses is also part of the risk in this trading crypto industry. research more about techniques in trading so that you gain high profit.

[disconnectme]

The thing  you need is patience, let the market dictate what it want to do and don't force trade, this day crash has been on the horizon for sometime because the price will always come back to the mean, once a trend line is broken you need to change to get out of the market at the earliest possible time because there will always be another trade to profit from

[Husires]

The best solution is to have ready cash money in the form of dollar or USDT.
When the market is down you start buying and when the market upside you start selling and so on.
On average, you will get higher profits than Dollar average cost.

current bottom 30000 you can buy more BTC and sell it when 35000 and 40000

[AicecreaME]

Given these parameters:

Bitcoin is at 37,000 and you have a stop loss at 35,500 and then a buy at 34,900 to replenish what you sold and the market rebounds back to 35,000 before crashing again to 34,900 and taking with it your last buy.

What is the best approach to guard against this?

The most basic and effective measure is to always make Technical Analysis before proceeding to a Trade, to see more accurate price setting of Stop Loss and Take profit entry than randomly guessing up based on your instincts. I'll just make this short, study a lot of strategies first before entering the Trading World to avoid huge money losses in the long run. Don't trade because it's a trend, trade because you're confident with your knowledge about it.

[Ucy]

The best solution is to have ready cash money in the form of dollar or USDT.
When the market is down you start buying and when the market upside you start selling and so on.
On average, you will get higher profits than Dollar average cost.

current bottom 30000 you can buy more BTC and sell it when 35000 and 40000

Ofcourse. Traders could always have extra funds reserved in stablecoin for buying up the significant dips. I think if many traders make this as a habit, they will indirectly be helping to keep the market somewhat balanced. You keep buying the dips more and sell the highs less with reserved funds from stablecoin (you can afford to risk). They market will move healthier if much of traders funds are used in this manner

[Coin_trader]

Setup your position as well as stop loss in different price range. You can use 25% allocation in each position in different price level so that the risk of loss will diminished. You can used fibonacci to determine the right price level for opening positions in both buying and selling.

Study how to use fibonacci because it will help you a lot in trading. There's a lot of free pdf and youtube video for the tutorial.

[bitgolden]

Do not have that close levels? I mean if you do 35k and then 34.9 that would be way too close, I would say make it a bit lower, like 34k for example. I personally do not use rebuy options that easily, I want to do it myself, I can use stop loss but if I am going to get back in I want to do it myself. For example, I once again have a stop loss at 26k right now, I know that it could reach to 25k levels but I am not going to buy until that happens, but if it goes over 26k again that means a big bull is coming and I will buy, if it goes even lower that means it is a crash.

So, basically I want to watch and see what is going to happen and decide accordingly, not on an automatic response. Selling automatically is possible and understandable but buying automatically is not my forte, I just dislike it because I want to be able to see everything before I buy.

[JooBra]

Before trading you should put some rules what are you expecting to do. For example if you day trade put 2% profit limit and stop loss 1.8% and with that in mind work it around. It' much better if you do something like that since then you will known what to do in given situation.