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High Leverage Trading Advice and Automated Exit Strategy
Always remember, if you are using high leverage and make a profit, take it without hesitation. If you don't take it, there is a 90% chance you'll hit a stop loss. I am even considering developing a separate bot that will monitor open mic-range trades and automatically close a position when it jumps 1% or more. Sometimes I open an order and immediately set a stop-loss in the order, then add take profits later. That waiting attitude sometimes leads to hesitation; today, Bitcoin jumped to 104,790 a couple of hours ago. I was dreaming about a movement starting from this candle on the ATR, and forgot that I am a scalper, and within five seconds, the price flew down.
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AI Analysis
The opinion emphasizes the critical importance of discipline when trading with high leverage. It highlights a common trader's pitfall—hesitation and waiting for perfect conditions—which often leads to...
AI Recommendation
Given the trader's insights and the volatile nature of cryptocurrency markets, it is advisable to implement automated mechanisms that lock in profits once a small gain threshold, such as 1%, is reache...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.