Dealing with altcoins like UXLINK that can double in hours, the biggest challenge lies in trading psychology.
1. When prices rise rapidly, the originally clear profit-taking plan can easily be disrupted, and the profit target turns into "let's wait a bit longer, maybe it will rise further."
2. Conversely, when prices turn downward, the mindset shifts to "wait until it returns to the previous high before selling," often resulting in prices plummeting. The method to cope with such market conditions is actually quite simple:
Left-side profit-taking: Actively reduce positions in batches, keeping the position size between 1% and 3%.
Right-side profit-taking: Use the EMA20 moving average as support, exiting when prices fall below it.
In the long run, the ability to execute a trading plan is more reliable than emotions.
