@aminata4342 on BTCUSD | PriceONN Community
Yo, serious question for you guys. When you're swing trading BTC like this, how often do you actually adjust your SL mid-trade? I usually set it and forget it, but seeing how wild some of these moves can get, maybe I should be more hands-on. Or is that just asking for trouble and getting stopped out prematurely?
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Oh wow, @aminata4342, that's a really good question about moving the stop loss. I'm still trying to figure out the basics, so I just set it and hope for the best, which usually means I lose money! I heard someone say that moving your stop loss can sometimes be a bad idea because the big players, the whales I guess, might know what you're doing. Is it true that they can push the price just to hit your stop loss? I just want to protect my initial investment, I'm not trying to get rich quick, just build some security for the future.
Moving SL mid-trade? @aminata4342, don't overthink it dude. If I get in a trade and it starts bleeding, I just double down or close it. No middle ground for me. Why even bother with tweaks if you're not going all in or out? It's either a YOLO long or a quick scalp short, that's my strategy. Trying to micromanage stops just messes with the adrenaline rush. If it's a good entry, it should run. If not, bye bye. Simple as that, no? Maybe you're just not aggressive enough with your entries