I am sure that you all have seen how the DeFi coins have been pumping the past weeks’ Absolutely madness. How you do guys protect your gains in order to avoid Fomo?
I personally found the way that works for me is to first screen for 24 hour losers with biggest losses to the beginning to start positive with at least a 1 million in volume. I observe the MACD for shrinking volatility, RSI for oversold, time frame baseline 1 day, zoom in 4-6 hours, and zoom out at 1 week to observe trend/pattern. Also make note of areas of support or resistance to gauge where to potentially pull out or put in a stop limit sell order. Also learn to read candlesticks and maybe some patterns to gauge general trend and potential entry point/exit point. I scale back to day to week time frame so I don’t have to constantly be watching and can still catch most of the gains. It is important not to go in big, start with a smaller amount to measure your rate of success. You want to make sure all criteria is meet before following thru in order to ensure the best percentage for success. I found this way has worked for me while also keeping peace of mind in tact. And of course make note of anything notable news regarding the coin that may affect the trend.
Thx, for the taking time in answering my question. Yes, I agree with all the technical analysis parameters, but it seems that they don’t apply when a bull market is on fire. For example Band has been oversold for days and weeks, and still the price is keep on going up and up.