Guys, I am not a good trader, however, I can tell you one trading rule I learned in the past from a successfull trading strategy on betfair:
When you buy at X, and X goes down to X/2, or any other down value, so you are on loss, not only do not sell (even not think about this!), BUY DOUBLE AMOUNT OF THE FIRST AMOUNT AT THE LOWER PRICE!!! This way if it goes up again you will very fast recvoer the first loss! If it goes down again... it should happen really rarely and you still need to account your risk and never trade with 100% of your money. But if it starts to go just a bit downer than the second buy, exit quickly with a small loss from the second buy. But rememebr, generally after big drop a pump is coming, regardless of its size. It's all on swings....
When you buy at X, and X goes down to X/2, or any other down value, so you are on loss, not only do not sell (even not think about this!), BUY DOUBLE AMOUNT OF THE FIRST AMOUNT AT THE LOWER PRICE!!! This way if it goes up again you will very fast recvoer the first loss! If it goes down again... it should happen really rarely and you still need to account your risk and never trade with 100% of your money. But if it starts to go just a bit downer than the second buy, exit quickly with a small loss from the second buy. But rememebr, generally after big drop a pump is coming, regardless of its size. It's all on swings....
You sound like a better trader than me and most people out here. Keep it up!! We need more thinkers like you.
Stop the ironic, I am just trying to help and I am looking for proffesionals like you for cooperation. Please, check PM.
It's a pity I don't have more to invest at this prices