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Jop Tuat
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Bullish
This is one way to avoid getting caught up in the whale's price game.
Take coin $XRP as an example.
Currently, its price fluctuates around 2.2 ~ 2.4. If someone buys it at this price and thinks it will go up further, then your stop-loss threshold should be set at 1.5 or 1.
At this threshold, selling will definitely result in a loss, but there's a reason for it, because if you set a sell price at 2 or 1.9, then if it goes up to 2.5 and then 3, and then 4 or 10, you won't know if you bought at the peak of the price or not. Therefore, you should accept a certain amount of loss for the investment that you think will go up when the price drops to a certain level.
If you buy at the range of 2.2 ~ 2.5 and the price starts to rise to 2.9, then 3, then 4, then 6, or even 10, you won't know whether to sell to make a profit or continue waiting for a higher price to sell. The best thing to do is to gradually sell in proportions of 10%, then 20% or 30%, because this way, if the price drops quickly and you can't react in time, you won't have to worry about losing your capital. And if the price goes up even more, you still have some assets left to convert into USD.
In general, the fluctuations of XRP within the range of 1.9 are acceptable. If it drops further, you should start thinking about selling it or holding it for the future.
Take coin $XRP as an example.
Currently, its price fluctuates around 2.2 ~ 2.4. If someone buys it at this price and thinks it will go up further, then your stop-loss threshold should be set at 1.5 or 1.
At this threshold, selling will definitely result in a loss, but there's a reason for it, because if you set a sell price at 2 or 1.9, then if it goes up to 2.5 and then 3, and then 4 or 10, you won't know if you bought at the peak of the price or not. Therefore, you should accept a certain amount of loss for the investment that you think will go up when the price drops to a certain level.
If you buy at the range of 2.2 ~ 2.5 and the price starts to rise to 2.9, then 3, then 4, then 6, or even 10, you won't know whether to sell to make a profit or continue waiting for a higher price to sell. The best thing to do is to gradually sell in proportions of 10%, then 20% or 30%, because this way, if the price drops quickly and you can't react in time, you won't have to worry about losing your capital. And if the price goes up even more, you still have some assets left to convert into USD.
In general, the fluctuations of XRP within the range of 1.9 are acceptable. If it drops further, you should start thinking about selling it or holding it for the future.
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