Here are your **risk management** strategies for your current position in NEIRO/USDT futures, based on your entry price of **0.00095** and liquidation level of **0.00165**:
### **1. Adjust the deal size**
**Strategy:** If the market continues to move against you, consider reducing the trade size to reduce exposure and minimize losses.
- **Example:** If you reduce your contract size by 50%, you can extend your stop loss further, giving you more room for the price to potentially decline.
### **2. Setting Stop Loss Orders**
- **Strategy:** Due to the volatility, it is necessary to set a **Stop Loss**. You can place your stop loss just above a critical resistance level (such as **0.00117**) to avoid further losses.
- **Stop Loss Suggestion:** Place it at **0.00118**, after the critical resistance level. If this level is broken, the price is likely to continue rising.
### **3. Use Hedging**
- **Strategy:** To protect your position, consider opening a **small buy position** in NEIRO/USDT to hedge against further price increases. If the price continues to rise, the buy position can cover some of your losses from the short trade.
- **Example:** You can enter a buy position at **0.00112** or slightly below the current price.
### **4. Monitor market conditions and adjust**
- **Strategy:** Stay informed of market conditions and technical indicators. If volume starts to decline or bearish patterns appear, this may indicate a reversal, allowing you to hold the sell position.
- **Action:** If you notice the bullish momentum fading, you can confidently hold your position. But if the volume continues to rise and the price breaks through the resistance levels, **consider cutting your losses** early.
### **5. Use a Trailing Stop Loss**
- **Strategy:** If the price pulls back in your favor, use a **trailing stop loss** to lock in profits or minimize future losses. A trailing stop loss moves with the price, ensuring that you don't lose more if the price bounces back after a decline.
### **6. Develop a re-entry plan**
**Strategy:** If you get stopped, have a **Strategy for re-entry**:
- **Re-entry 1:** If the price drops below **0.00089** (support), consider re-entering a sell trade for a new opportunity.
- **Re-entry 2:** If the price fails to hold the **0.00117** level, wait for confirmation of the trend reversal before re-entry.
### **7. Diversify risk across other assets**
**Strategy:** To balance the risks in this trade, consider diversifying into other less volatile assets. This reduces the risk of relying on a single asset.
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### **Plan A - If the price drops**
- If the price drops below **0.00100**, you can start gradually increasing sell positions, aiming to profit from the downward movement.
### **Plan B - If the price goes up further**
- If the price breaks the **0.00117** level, consider exiting the trade and waiting for another opportunity. You can also hedge to cover potential losses.
### **Plan C - Cut Losses Early**
- If the price approaches **0.00150**, consider cutting losses before the liquidation level to avoid losing your entire position.
### **Plan D - Hedging with a small long position with little leverage**
- Open a **small buy position** with low leverage to mitigate the risk of further upward moves, minimizing losses on the sell trade.
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By implementing these strategies, you will be able to better manage your risk while dealing with the current market. This way, you can reduce the possibility of liquidation and be prepared for any scenario that may occur in the market.
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