As you know, the market doesn’t always go up. However, professional traders always find a way to profit in a bull market or a bear market. Here’s how they do it.
Although spot trading usually caters to the bulls, CoinPanel’s new Sell Full Trade function enables investors to be able to sell high, then buy back lower. Essentially, in a spot market, traders can still make money in a downtrend if they sell high, then buy back the crypto asset at a lower price.
The conventional way of spot trading, also known as going long, is when traders purchase a cryptocurrency with the expectation that it will go up-buying low and selling high. For example, if an investor were to benefit from a market uptrend, an entry order would be placed ideally at a local bottom-at a low price. A Full Trade cycle would not be complete with a Take-Profit order-selling at a price point higher than the entry order, and a Stop-Loss order-selling at a price at which the trader is willing to sell at a loss.
In a Sell Full Trade, a trader can set an entry order at a swing high, expecting that the cryptocurrency will drop, then set a Take-Profit order, also known as a Target order, at which the investor will buy back the crypto at a lower price. Last but not least, the Full Trade function also includes a Stop-Loss order, set to purchase the asset again to minimize potential losses.
Before the next crypto bear market occurs, you can ensure that you can be ready to profit with CoinPanel’s Sell Full Trade feature. Try out the new revolutionary feature today!