We learned in the pinned post how to board the train at the right time, and we identified in the analysis of currency $ALLO the resistance area at 0.1045. But professional trading is not just about buying; it is about having a clear exit plan before you hit the execute button.
The problem many face is emotional attachment to the currency, waiting for a rise that never comes or watching their profits evaporate. The solution lies in defining two essential points: taking profits and stopping losses.
Referring back to chart $ALLO , if your entry is close to the support area of 0.0717, then your emergency exit (stop loss) should be just below this number. Why? Because breaking this wall means that the analysis is no longer valid and the market has changed direction. Always remember that losing a small part of your capital is much better than being stuck in a losing trade for months.
As for taking profits, a professional does not wait for miracles. When the price reaches the resistance we defined earlier, it is always advisable to secure part of the profits. The knowledge here is not in knowing where the price will go, but in protecting your portfolio from sudden market fluctuations.
Trading based on predetermined numbers keeps you calm and away from stress. If you are still confused about how to determine these points, I advise you to return to the pinned post on my page and compare the numbers we mentioned there with the current chart movement.
Share your experience in the comments:
Have you ever turned your profit into a loss because you didn't set an exit point? Or are you from the 'patience until the explosion' school, regardless of the results? Share your situation with us so we can extract lessons together.
Warning: The cryptocurrency market is very volatile, and this information is educational to help you build your own strategy, and is not direct financial advice.
