How To Protect Yourself In This Situation

[Inspiron14]

The current market situation is still in a bullish state, however everything can change direction to bearish,
and of course the strategy if a bearish situation occurs, the thing to do is sell and wait at the support to buy it,
because you will recover, don't hold too long if the bears take over, just experience a few percent loss and it's not a big problem I think.

[tvplus006]

...What is the best approach to guard against this?

The correct stop loss setting is a very important task for a trader, otherwise your orders will be constantly closed, and you will record a loss. Therefore, it is necessary to set it behind the support line or behind the resistance. But we must remember that the exchange sees where the stop loss is set, so it will definitely strive to ensure that these stop losses are closed before further price movement.

[GelatikKembar]

...What is the best approach to guard against this?

The correct stop loss setting is a very important task for a trader, otherwise your orders will be constantly closed, and you will record a loss. Therefore, it is necessary to set it behind the support line or behind the resistance. But we must remember that the exchange sees where the stop loss is set, so it will definitely strive to ensure that these stop losses are closed before further price movement.

I feel that stop lose is not the best way to avoid this situation, there are still other determinants so that we can survive a bear market or dump, usually after reaching a stop lose the price will return to a reversal and bounce in resistance, even back to a bullish path as long as i trade, the stop loss should be at -10% of the support because for me that is the determination and wait for the candle to finish, usually 4 hours or 1 day.

[rokon1234]

Sometimes it is not possible to make the right decision about trading, but if we fall into such a situation, we must first try to hold on and wait for the next market upward.if the market goes down further, it would be wise to buy and hold some coins again.Later, if the market rises, reduce the rate of loss by selling and take some profit.

[saffira]

Considering same situation, stop loss is the best way to secure your coins. Each of us have different approach in handling this case. We cannot predict the price of the bitcoin. But if you are patient with your investment, it is also better to just hold and wait for higher value.

[Shasha80]

Using stop-loss when trading is a must, because it can protect our funds when a massive dump occurs. If the price goes down and is successfully sold
at the stop-loss price that we set, we can buy Bitcoin again when the price drops even lower. After successfully buying back Bitcoin, if the price goes up
a little do not rush to sell the Bitcoin that we have. We have to determine a high enough sell target, because Bitcoin usually recovers very quickly
when there is a correction and can be pumped much higher.

[dotcoin.info]

You are saved by a stop-loss that will sell BTC at a price of 35,500, then you cannot be 100% sure that after the buy-off at 34,900 the fall will not continue. That is, you need one more stop loss after buying at 34900.
However, during this time, you may or may not have access to the exchange. Therefore, I recommend that you install the tab trader application and put notifications in it so as not to miss a crucial moment.

[Rengga Jati]

-snip-

Many people use stop loss to prevent higher loss and to get back again the funds.
However, please consider carefully when to stop loss, consider and analyze whether the price in the market is really going down or only a short market correction.
If we are a daily trader, stop loss is very good for us.
But if we are not, we can still hold them, moreover, a coin like Bitcoin. This coin is very valuable both for short or long-term holding.

[Oilacris]

-snip-

Many people use stop loss to prevent higher loss and to get back again the funds.
However, please consider carefully when to stop loss, consider and analyze whether the price in the market is really going down or only a short market correction.
If we are a daily trader, stop loss is very good for us.
But if we are not, we can still hold them, moreover, a coin like Bitcoin. This coin is very valuable both for short or long-term holding.

Stop loss does have its own pro's and con's and if you are a day trader then you will find this to be beneficial but of course you should be setting it on more deep percentage because
casual volatility could easily eat it up.

For those who do aim for long term then stop losses wont really be much off needed because they are relying purely on recovery when the market tends to make out
some u-turn.

Protecting yourself in potential loss will be depending on how you do find out ways to minimize it.

[LUCKMCFLY]

-snip-

Many people use stop loss to prevent higher loss and to get back again the funds.
However, please consider carefully when to stop loss, consider and analyze whether the price in the market is really going down or only a short market correction.
If we are a daily trader, stop loss is very good for us.
But if we are not, we can still hold them, moreover, a coin like Bitcoin. This coin is very valuable both for short or long-term holding.

You are right, many times it is better to be inside the market without Stop Loss, but being protected with a leveraged short, the bad thing is that to make this maneuver it is necessary to be stuck all day to the chart so that the movement is not lost, although always It will be inside the market has great risks.

The loss of stop is good, it should always be used when there are doubts, but it is a primordial tool to reduce losses, and even to get profits, because if the profits are lengthened, you should only move the stop loss.

[Rehan Zakir]

I suggest you to hold coins only in spot account. Don't take a trade in future market. Just buy coins for long term. And hold it for 6 months , your investment becomes double. There is a huge fluctuation in the market. So, trading in future market is very risky. But choice is yours.

[gatti]

I suggest you to hold coins only in spot account. Don't take a trade in future market. Just buy coins for long term. And hold it for 6 months , your investment becomes double. There is a huge fluctuation in the market. So, trading in future market is very risky. But choice is yours.

Investing in cryptocurrency can yield large sums of money. I have personally benefited greatly from my investments in Bitcoin, Ethereum, Ripple and other coins that I became an early adopter, when they first entered the market. It has given me greater income and allowed me to spend more time doing what I enjoy. There are many benefits if you choose to invest in cryptocurrency.In the past few months alone, prices for these assets have soared. There are now countless coins to learn more about and bet on

[Kelvinid]

Well, I think you can't protect yourself in this situation. BTC price volatility is jumping through thousands. Maybe you will have more grains if you will make bigger interval between buy/sell orders but no one can guarantee you that price will go down and down instead of up and vice versa.

SECURITY is a big challenge for us especially when we are buying Bitcoin during the Bullrun and even holding couldn't guarantee that it keeps our fund safely, unless if we are buying during the bear season that most likely the price will move high than during this time.

In the current situation and the high volatility risk of the market, we need not emotionally affected by a few market corrections. We need to stand for what we believe but for me, I'll take every opportunity I saw and I don't hesitate to sell then if there is a chance. We have to play the market wisely.

[isaac_clarke22]

~

I would just simply wait for it to touch the floor.
Just trade because of you. Take responsibility if you make the mistake. Don't just depend on other's decision.
I would just keep holding if I was holding BTC regardless.

[Johnyz]

~

I would just simply wait for it to touch the floor.
Just trade because of you. Take responsibility if you make the mistake. Don't just depend on other's decision.
I would just keep holding if I was holding BTC regardless.

The market will not always go according to the plan, so if the price didn’t hit your buying level, then you have to decided either to wait for the price to go down, or to buy because its recovering again, or you just look for other altcoins that is right on your buying price. We always have to diversify, and stop chasing Bitcoin everyday because there’s a right time for that and you have to wait patiently.

[seoincorporation]

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 only way I find to avoid this is to put the stop loss on the right range, you need to see where are the walls on the markets, so, let's say the wall on the buy-side is on 34,950 and the wall on the other side is on 36,200, then you should put you stop lost after the first wall, on 35,000 and the sell order on 36,000. That way your move doesn't get stuck by the wall.

[Ryker1]

It's easy to protect at this situation.Many traders will face such situation in his life time of trading.You should learn to hold at such situation,instead of making some noise. When the price is back to high value,you can easily sell that at that point .Then get your profit for sure.No need to worry for this situation.

Well, you have a point because not all the time that day trading is profitable, --it will always depend on the market movement and all you have to do is perfect timing of execution when is the perfect time of selling your coin. I also prefer upon holding your crypto asset than having a day trading which is very risky, just perhaps having a play safe and less risk. Hold until you will see that your profit was there. Having a quick profit is not just easy, you need to patiently wait and must include the fundamental^[FA] and technical analysis ^[TA].
However, there are too many factors to consider in protecting yourself and asset in trading, we should be wise in time of making a decision because anytime we experienced failure if we will always follow our greed.

[nelson4lov]

Well, I think you can't protect yourself in this situation. BTC price volatility is jumping through thousands. Maybe you will have more grains if you will make bigger interval between buy/sell orders but no one can guarantee you that price will go down and down instead of up and vice versa.

I don't think its even about putting distanced buy/sell orders. Except he knows what he's doing . I mean, instead of randomly placing orders, OP would be in a more better position to take most of those trades if those orders are placed at strategic areas of values like the various support and resistance price levels. This way, he can take out a lot of the guesswork as price tends to be on a free fall after it confidently breaks through a level. It's better to prevent catching a knife.

[Questat]

Well, I think you can't protect yourself in this situation. BTC price volatility is jumping through thousands. Maybe you will have more grains if you will make bigger interval between buy/sell orders but no one can guarantee you that price will go down and down instead of up and vice versa.

I don't think its even about putting distanced buy/sell orders. Except he knows what he's doing . I mean, instead of randomly placing orders, OP would be in a more better position to take most of those trades if those orders are placed at strategic areas of values like the various support and resistance price levels. This way, he can take out a lot of the guesswork as price tends to be on a free fall after it confidently breaks through a level. It's better to prevent catching a knife.

And aside from that, OP must have to be strong on his decision and never be negative coz that was the case that he might bring him to losses. If he can able to hold for a while, the better it go.

What I see to OP is that he is bothered too much after seeing the declining trend and he becomes negative thinking this will be the end of the bullish season and he can no longer get profit. If that a thing we always put in our minds the more it drives us to be negative all the time.

[SquallLeonhart]

SECURITY is a big challenge for us especially when we are buying Bitcoin during the Bullrun and even holding couldn't guarantee that it keeps our fund safely, unless if we are buying during the bear season that most likely the price will move high than during this time.

In the current situation and the high volatility risk of the market, we need not emotionally affected by a few market corrections. We need to stand for what we believe but for me, I'll take every opportunity I saw and I don't hesitate to sell then if there is a chance. We have to play the market wisely.

I would say keep your money in binance and have a stop loss and you are done with both of them. If you keep your money in binance and if you have decent password and a 2FA that means you will most probably will not get hacked, and binance does get hacked but they never let anyone's money go to waste, they always pay people, so with putting your money into bitcoin you have guaranteed that you will end up with a good security and your money will be safe.

So, let's go towards the "what can we do if our money becomes zero" type of problems, well use stop loss at a good place and you will basically always be profiting from it, there is no problem with buying more and dropping the DCA in the future but if you want to get out and not sure about the project, just put a stop loss and you will not lose too much money. That is how things work in long term financial companies.