Topic: Newbies and even pro traders making the same mistake but here is how to do it - page 2. (Read 168 times)

You instruct DCA from this point, and it concludes that your first buying was a wasted move. Why not just jump to step 2 from the start instead?
A price drop doesn't always signal the start of a prolonged downtrend, it can mean the price is retesting at varying times (mostly only a short time) then bouncing. With this condition, you don't have much opportunity to buy lower than the last SL price.

I have been doing trading and investing for a while with my long experience, I have discovered secrets and tricks. trading is like driving a car with slippery road conditions where panic and human instincts will make you to act wrong ways.
How to act if you have entered a position, i.e. accidentally bought from the top, my instructions:
1. if you see that the price is starting to fall and you are already at a loss, sell 80-90% of the coin immediately with this action, you will have money reserves, if the remaining 10%-20% falls, you will be able to buy it again with your 80-90% money reserves. (It work like magic - allmost)

 2.start buying with 1%-2% of your total money allocated for this operation, just make daily purchases of 1%-2% for this coin even if the coin is in an uptrend.
I know that people sell all their coins quickly out of fear and panic when they see that there is a big loss but this is wrong you only have to sell 80%-90% and the rest you can already control with your money reserves it is like driving a car where you you must not panic but control the situation with a cool head by acting correctly with the steering wheel and gas pedal following what you have been told or the same as self-defense where you have to not follow your emotions but act with a cool head according to the instructions in order to achieve maximum control over the situation.

For me, there is no difficult situation when trading the spot market, because using the technique I described, it is not possible for the situation to get out of control.