🚀 Profit-Taking Strategy: Lock in Your Gains
Once your $2,000 investment grows to $2,500 (a $500 profit), you can de-risk the trade with two great option .
Option A: The Risk-Free Ride 🆓
Sell the equivalent of your initial $2,000 investment to secure your principal capital.
Let the $500 profit ride. This is now a free position—any future gains are pure bonus!
Option B: Book and Lock 🔒
Book the $500 profit (sell only the portion that represents the gain).
Set a Stop Loss (SL) on your remaining $2,000 position at your original break-even entry price.
By following this method, you significantly reduce the chances of loss in crypto spot trading.Synthetix (SNX)
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