One thing i have learned in trading is that you always need a backup plan. Markets are unpredictable, you can be up big one week and then watch it all disappear the next. Having a clear plan for what to do when things do not go your way makes a huge difference in staying consistent.
For example, i have had times where i took heavy losses on one trade, but because i had a strategy in place, i was able to recover and even make better decisions moving forward. On the flip side, sticking to my plan also helped me ride winners like $XCX, which gave me huge gains because i did not panic sell too early.
Recently i have been paying more attention to challenges and activities that keep me disciplined. The Bitget Onchain Challenge Phase 19 is one of those things that helps me stay active while also testing how consistent i can be in different market conditions.
At the end of the day, no trader wins every single time. But having a backup plan, whether it is setting stop losses, securing profits, or simply knowing when to step away, is what keeps you in the game long term.
How do you guys set your backup plans when trades do not go as expected?
submitted by /u/Then_Helicopter4243
[link] [comments]
Join The SmashBotAI Telegram Community Now! Get trade alerts, smashable token trade ideas, and more!
https://t.me/smashbotcommunity
Start Trading Now:
SmashBotAI Telegram Bot
