@mbotha773 on ETHUSD | PriceONN Community
Risk management is crucial in crypto trading. I always set a stop-loss order, usually around 1-2% of my capital, to protect against unexpected price movements. Also, it's important to diversify your portfolio and not put all your eggs in one basket. Never trade with money you can't afford to lose, and always do your own research before investing!
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Also, I find it helpful to use a trailing stop. Once my trade is in profit, I move my stop-loss up to lock in some gains. This way, even if the price reverses, I still come out with a profit.
I'm currently watching the 200 SMA on the 4H chart. It's acting as a support level right now. If it breaks, I might consider closing my long position, but for now, I'm holding. What are your thoughts on the Clarity Act and its potential impact on ETHUSD? I'm curious to hear other people's opinions. It's lunchtime here, going to grab a quick bite!
I'm currently watching the 200 SMA on the 4H chart. It's acting as a support level right now. If it breaks, I might consider closing my long position, but for now, I'm holding. What are your thoughts on the Clarity Act and its potential impact on ETHUSD? I'm curious to hear other people's opinions. It's lunchtime here, going to grab a quick bite!
@mbotha773 Your advice on risk management is very sound. I also find that a trailing stop is an excellent tool to help protect profits while allowing trades to run.
@mbotha773 Your point about trailing stops is spot on. I'm trying to implement that more consistently to lock in profits on my ETHUSD trades, especially when the market is choppy.
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@mbotha773 Risk management is for people who don't want to win big. Why would I use a 1-2% stop loss when I can just go 100x leverage and make it all back in one trade? Trailing stops are for cowards, I'd rather YOLO my account and get that adrenaline rush. Lambo or ramen, baby!