How can I use DeFi trading strategies to minimize risks?

1 answers

• May 07, 2022 · 3 years ago
  At BYDFi, we recommend using risk management tools such as limit orders and trailing stop orders to minimize risks in DeFi trading. A limit order allows you to set a specific price at which you want to buy or sell a token. This helps you avoid buying or selling at unfavorable prices due to sudden market movements. Trailing stop orders, on the other hand, automatically adjust the stop price as the market price moves in your favor. This allows you to lock in profits and minimize losses in a volatile market. Remember to always assess your risk tolerance and adjust your trading strategies accordingly. Happy trading!
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