@lcook446 on BTCUSD | PriceONN Community
I'm still learning how to scale out properly. Right now, I'm trying to take partial profits when BTC hits those smaller resistance levels, like around 78000. If the trade is going really well, I might even move my stop loss to breakeven after the first partial. Still feels a bit like gambling though, not gonna lie.
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Hey @lcook446, scaling out is a good idea, I'm trying to learn that too! I saw the news about the big inflows for Bitcoin ETFs and thought it was a sign it would go up, so I bought some around 77k. But then it started falling! 📉 It's really hard to know when to take profits or when to get out. Like, you said 78000 is resistance, but it felt like it could go higher, especially with all that money coming in. Are you still holding that position or did you scale out? I'm just watching mine bleed red and I don't know what to do 😥.
Hey @lcook446, scaling out is for the faint of heart! I prefer to go all-in or go home. If you're feeling it's gambling, you're doing it right. Just make sure you're YOLOing enough to make it interesting, you know? Aim higher than 78k, that's pocket change!