The Art Of Cutting Losers And Letting Winners Run In Crypto Trading (coindesk.com)
Here’s the best tl;dr summary we could make of the latest crypto trading advice from CoinDesk:
One of the most important rules for trading financial markets is cutting losses quickly and letting winners run.
This fundamental rule set for trading winners and losers is widely known, but it is often forgotten by both novice and professional retail investors alike, as emotions tend to take charge.
The toxicity of emotions in trading cannot be overstated, so cut those losses and let your winners ride a little while longer, especially if you see no reason to end the trade then and there.
Trading is the opposite of investing: Both trading and investing involve seeking profit, but they pursue that goal in different ways.
Revenge trading is a big no: Revenge trading is that irrational desire to win back losses in the shortest possible time and usually from the same market that you lost money in.
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Related story: Bitcoin Price Weekly Analysis: BTC Rebound Approaching Crucial Resistance (newsbtc.com)
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