How can I minimize risk when implementing a covered short strangle strategy in the world of digital currencies?

1 answers

• Dilpreet SinghJul 04, 2023 · 2 years ago
  At BYDFi, we recommend implementing a covered short strangle strategy in the world of digital currencies by carefully selecting the underlying assets and strike prices. It's important to choose digital currencies with high liquidity and stable price movements to reduce the risk of sudden price fluctuations. Additionally, setting realistic profit targets and stop-loss levels can help you manage risk effectively. Regularly reviewing and adjusting your positions based on market conditions is also crucial. Finally, consider using advanced trading tools and platforms that offer risk management features to automate and streamline your trading process.
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