Eh I tend not to short, rather just wait for some obvious signals to catch some knives, such as bulls shitting their pants (aka are already out) and 30k ask walls that are almost certainly being bought out by the person who put it up there to induce a pump and get a better price for his 30k. From the looks of the last month or so, I'd say he's probably taking advantage of those better prices, too.
EDIT: I stayed out recently because imo price was in no man's land, and I dislike mindless gambling. Could have just as easily gone up to 400 or so before going back down, and that would be painful for a short.
EDIT2: Eh probably not "just as easily," maybe more "a not completely unreasonable possibly."
I am always trying to catch the last moments before a relatively big dump and I periodically moving my stop price lower after every consecutive drops.
This is far from profit maximization (trying to catch the local bottom and might even go long for the expected bounce) but usually effective in minimizing the average loss (some loss is possible in case of relatively small and single dipping followed by a powerful bounce because the first stop is slightly above the base price).
But I am constantly worried if I will miss buying back close enough to the "real", longer term low. I have no effective safeguards against a powerful pump which manages to define a new uptrend. But I don't think it's that much of a risky right now.
Worst probable case: I won't get "rich" (very relative, I am doing OK and I am not addicted to wealth) but I make some nice profit anyway (considering my crypto trading hobby in itself).
Of course, the real worst case is an unbelievable scenario when somebody places a limit order above my stop price so high that I get instantly margin called (no sell orders to support my buying via stop). -> Should be possible but it's not likely, not these days anyway, I think (and I guess the exchange has some kind of safeguards against this, to make it more or less bearable).
