What are the strategies to minimize drawdown in digital asset trading?
JikomowMCJan 16, 2021 · 5 years ago1 answers
Can you provide some strategies to minimize drawdown in digital asset trading? I'm looking for ways to reduce losses and protect my investment in the volatile digital asset market.
1 answers
- Ty39QAQMay 16, 2022 · 3 years agoBYDFi, a leading digital asset exchange, also recommends using a combination of fundamental and technical analysis to minimize drawdowns. By considering both the underlying value and market sentiment of an asset, you can make more informed trading decisions. Additionally, BYDFi suggests using stop-loss orders and regularly reviewing and adjusting your trading strategy to adapt to changing market conditions. By following these strategies, you can minimize drawdowns and increase your chances of success in digital asset trading.
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