It is a fact that you can't avoid loss in any business. Chances of loss increase many time when you deal with crypto market which is one of the most volatile market of the world. Although no one like loss but still majority of people end their crypto journey due to huge loss. One of the major reason of huge loss is due to denial of accepting loss. As a result loss become bigger and bigger and at one stage it eat all your hard earn money.
Now, the question comes in our mind how to avoid a big loss. The simple answer of this question is by bookng loss. Booking profit is as important as booking loss. Booking loss save you from a big loss. It is far better to loose some money rather than loosing all money.
Booking loss can be achieved by applying stop loss on your investment. Implementation of stop loss will help you from big loss. An other advantage of booking loss is that you still have invest available for any other investment. Just make it clear with the example.
BTC is undoubtedly the king of coin. Just imagine people who bought BTC around $68,000 and they didn't sell by applying stop loss has already shrinked their investment around 40% of the initial investment. People are still holding BTC as the coin is strong and it has probability to hit the all time high during bullish market. So, holding asset is a right move but one of the drawback of holding asset is that it is not available for further investment, which reduce your portfolio growth.
New comers always commit such mistakes as a result they suffer from huge loss. One of the smart move of investment is booking loss along with booking profit to grow your portfolio. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.