We bought this coin when it was more expensive. We lost about 6% so far.
So why don’t we use a stop loss? Why don’t we sell?
Crypto moves so fast that if you use a stop loss, the price can drop causing you to sell, then jump way higher before you have a chance to buy back. Especially if you like to sleep.
So you lose going down and you lose going up.
Also, in this case, we are so close to the supporting trend line in red that even if we do fall more, the bounce should be fast and big.
Or we start going back up without ever hitting the red line. So we measure risk and play a multiday to multi week trading game.
Sometimes we make profits minutes after we open a trade too. But you’ve got to be able to handle multiple time frames to capture maximum opportunity.