Follow-up reminder on the PIPPIN altcoin strategy laid out yesterday: →♥

For this altcoin, our approach was to short at the top, and so far, the entry points have perfectly matched the planned levels. We entered at around 0.249, and the highest so far has been 0.2495. The main goal with this type of coin is to bet on a sharp drop—or even a crash to zero—after a potential peak. However, after the price drops a certain distance, you also need to trail your stop-loss to lock in profits. If the trade works out, great; if not, cut your losses. Also, be aware that the funding rate for these coins at high levels is extremely elevated during this round. If the price hasn’t reached your entry target and funding rates are very high, it’s best to wait patiently. If it’s getting close to your target, consider the timing of the funding fee and make a comprehensive decision, since major drops usually only happen after big players open large short positions. Funding rates will then drop back to normal.

When it comes to taking profits, it depends on your own greed, but no matter what, you need to trail your stop-loss to protect profits. Since the leverage is up to 9x, I’m handling it by lowering my trailing stop-loss.