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Defending low leveraged long positions - best strategy?

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by COINS NEWS 96 Views

Suppose I have USD$17K, I take out a 4x leveraged long position at current price so that my open position is 2BTC entry at ~$34K. My trading platform suggests that the estimated liquidation price is around $24K to $25K.

Suppose I also have an additional USD$8K to defend the position if it moves against me.

What is the best strategy to defend the position and get the liquidation price as low as possible?

Should I

A) buy more if the price goes down to my liquidation price

or,

B) add the extra $8K as additional margin to lower the liquidation price

or,

C) use a combination of A and B .

submitted by /u/GiverTakerMaker
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