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I believe everyone in the crypto circle is often troubled by being trapped in positions, unsure of how to respond. Here are some tips shared by Zhong Ling:
💡 Quick Tips for Getting Out of a Trap:
1️⃣ Be decisive with stop-loss: If you judge that the trend has reversed and the subsequent decline has significant room, don't hesitate—cut losses and exit promptly to avoid deepening the trap.
2️⃣ Strategize on adding positions: When the price is at a stage bottom and shows a rebound trend, you can add to your position in batches to lower the average cost. But control the pace and amount of funds, avoid blind operations.
3️⃣ Use Tactics to Lower Cost: Take advantage of short-term fluctuations by selling high and buying low. For example, sell some when the price surges quickly, and buy back during pullbacks. This requires strong market judgment and operational skills.
4️⃣ Mindset is crucial: After being trapped, don't panic or get anxious. Stay calm, analyze the market objectively. For coins with good fundamentals and long-term potential, consider them from a long-term investment perspective and patiently wait for the market to warm up.
✨ Remember, the crypto market is volatile. Getting out of a trap requires strategy and patience. Don't let short-term fluctuations throw you off course.
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