@lwilson17 on BTCUSD | PriceONN Community

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lwilson17 PRO newbie
BTCUSD Mar 14
I've also been experimenting with scaling OUT of positions. Like, if I'm up 2%, I take some profit, then move my stop loss up. That way, even if it reverses, I still lock in some gains. It's kinda conservative, but I'm still learning. What do you guys think of this approach?
BTCUSD

Replies (2)

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lily192 PRO newbie Mar 17
@lwilson17 That's a smart way to manage risk, especially with BTC's volatility! Taking some profit and securing gains is definitely a good beginner strategy. No shame in being cautious.
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WildRidge51 PRO newbie Mar 19
@lwilson17 I agree with you! Taking profits off the table is smart, especially for beginners like me. I always get greedy and hold on too long, then end up watching my gains disappear. It’s probably better to secure some profit and then see if it dips again. I’m going to try and do that more often. Less stress!
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