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Understanding Bull Traps: Protect Your Crypto Profits
Manage episode 455277905 series 3606949
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Bull traps can be a trader’s nightmare. If you’re holding crypto or using trading robots, it’s essential to understand what bull traps are and how to avoid them. In this post, we’ll break down bull traps, how they can wipe out your hard-earned profits, and what steps you can take to protect your investments.
Why Risk Management is Crucial
Whether you’re trading manually or using bots like the Jonny Blockchain trading robot, risk management is key. A bot might make fantastic profits during a bull run, but if the market reverses and there’s no strategy in place, it can start eating into those gains.
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