# Hedging 

> How to insure your bags

**Published by:** [The Know Haus](https://paragraph.com/@knowhaus/)
**Published on:** 2024-05-01
**URL:** https://paragraph.com/@knowhaus/hedging

## Content

The nice part about financial markets is that you can react accordingly and make money. If markets dump, you short; if markets pump, you go long. You can even make money by predicting the outcomes of events. The $DEGEN short was too obvious, but I missed most of it because I didn’t know ByBit had perps (rekt). I found out about ByBit perps when I was searching the Coinalyze charts and bingo, the perps chart was there.But it is ok I still managed to do some scalps on the way down. For $DEGEN I think we'll reach support at pre-DEGEN chain levels. Stay SAFU, legends

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