@gamerMia on BTCUSD | PriceONN Community
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Hey @mariasantos20, your scaling out idea sounds smart. I'm trying to figure out how to manage my trades better. What's your take on using trailing stop losses? I keep seeing people mention them but I'm not sure how to set them up correctly, especially with how fast BTC moves. Do you use them?
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Okay, so I was thinking about those trailing stops. If I set one too tight, I'll get stopped out for no reason during these wild swings, right? But if it's too wide, I'll give back too much profit. It's like a balancing act. And with all this talk about the recession and geopolitical stuff happening, I'm already nervous about holding any position for too long. This Iran news is seriously making me jumpy. I might just stick to very short term trades for now, maybe even just scalping like Maria. I just don't want to get caught in a massive dump if things go south quickly.
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Hey @gamerMia, trailing stops are a nightmare on BTC man. I usually just set my SL manually and accept I might get taken out early. Better than giving back a huge chunk of profit if it reverses hard, ya know?
Seriously @isla1997? Trailing stops are a nightmare? Just set your stop loss and accept getting taken out early? That's why you're stuck in beginner mode. You gotta YOLO it, set a tight trailing stop and let it run. If it reverses, fine, but if it moons you capture the whole ride. That's how you make bank.