Topic: 3% loss 10% profit -> sell - page 6. (Read 2061 times)

In my opinion that stop loss too small, and can be in every trade will executed because too near from open potition, in personality i used stop loss 10% to 20% and take profit about 30% to 50%. The volatilty of crypto so high this target is good in this bullish trend just like now.

I think the level of stoploss that you set at this time is very reasonable, you can see that bitcoin prices in the past few days are fluctuating continuously and very complex, they have very fast discounts and only reduced from $ 200 to $ 300 but it has a huge impact on the market. Therefore, it is very reasonable to leave such a stoploss.

No, in general a 13% fluctuation does not occur that frequently, so it's unlikely you will be trading too frequently. That being said, I do not believe your numbers are optimal as I think it would actually lead to you trading too infrequently. I think a more reasonable goal is 2% loss, 5% profit, that's a 7% variance which should occur much more commonly than 13%. Try it out on two coins, and see which one trades more, and in overall gains more.

I dont think so. 10 percent is a high gain so you might be looking at days or maybe weeks of trading if the market doesnt move much.
But the loss though, 3 percent might happen really quickly. I suggest you get a larger capital for you to see a better profit even with just a little percentage of gain.
You might also want to frequently check the market for the instability might happen anytime.

Hitting those limits and gains would really be easily hit up a short period of time which do means you will able to make trades to often. We do know how volatile the market is but having that 10% gain target is quiet high if we do talk about day trades 5% is quiet reasonable and its always being suggested to have stop loss because just only on minimal because if you make it too deep you would really be stuck on waiting game. Price do make zigzag hitting up those ropes.Emotions would be the main concern on here.

With a market that is constantly changing and as fast as it is now, placing the toploss is very important. You can see that the price of bitcoin in the past days is fluctuating continuously and very difficult to guess, this has made many investors lose. I believe that when the market is going down, you should stop trading when you lose 3% -5%.

I agree with others that 3 and 10 percent triggers are too low.  Take today for instance, just in the top-10 on CoinMarketCap, three of the top ten coins are below a 3-percent loss... and that doesn't even include the intra day range.

I think you're asking for guidelines but in my experience each trade needs to be approached differently.  If you're just starting I'd recommend keeping a trading journal and write out your hypothesis (why you think it's a good trade) and before you purchase list out your stop-loss and sell targets.  And... none of these should be guessed, there should some logic behind your targets.

3% is kinda low for the downside, 10% is decent for the high side.   If you're a "set it and forget it" type, then this strategy will work just fine.  You can probably squeeze more out of the high end though, if you're readily paying attention.  Just don't get too greedy with it.  Getting out in profit should never be a difficult decision.

You can set a maximum loss of 1% and a minimum profit of 100%. So you'll be a millionaire soon.

I think a 3% stop loss and a 10% profit stop are too low margins for crypto investments.  A coin could drop 3% in a day and that would be considered completely normal and not out of the ordinary. I would bump the stop loss to 15% or more because these cryptos tend to swing a lot and you dont wanna have it liquidate your coins for such a small drop.

I just prefer to hold in long term and patiently wait  the good chance to sell my tokens in a good profit rather that buy and put in bot that you pay in high price and you just only do a  small amount of capital. I think that was good only for a rich man people.

But then you risk 40% to make 30%. Which means your success rate on trades needs to be over 50%. This dude explains the logic quite well on this actually. I have sort of been operating in that fashion and its given me much more consistent and overall green.

https://www.youtube.com/watch?v=bRCtBRsLPmk&t=2s

It would make your trades too often since 3% loss is easy to achieve in crypto. I suggest you set your stop loss to 40% and set your stop for selling as 30% for a better profit(if you wont do day trades). If you will, then your stop for selling is fine, but set your stop loss to 30% for better profits(since most markets doesn't drastically moves down all the time, which will lessen your trades. It will also help you save up on fees).

It all depends on what the charts say when you enter a trade imo. I'd suggest looking into these things to determine your stop loss. (Just based of my experience and lessons iv'e learned after taking a loss)

Volume
Make sure you have a few separate buy walls between your entry price and stop loss. I have taken a lot of losses due to flash dumps triggering my stop loss, then the price normalizes after one minute and continues to moon. These really suck to see the next morning. Make sure your stop loss accommodates for a small correction

Current trend in BTC price
I normally look for something that's gone into an upward trend and kept in it for about a few days at least. Because if it hasn't gone up too much yet, you are statistically more likely to see it go up a bit more than for it to dump.

Current BTC price vs ATH
I normally like trading something that is about 20-30% of its ATH in BTC and then ofc also in an upward trend. This means its still got some good room to grow.

When to exit?
Lets say I bought a coin at 700 sats and it's at 1000 sats. If it's still in an upward trend then there is no point in me selling right now since I could lose out on more profits. In a case like this I'd set a stop loss at 920 sats or so, I mean 220 sats per coin is still great. If it continues to pump I will keep moving that stop-loss up, about 7-10% below the current price. This was you are assured to sell it near the top and you are guaranteed your profits.
The only risk is really when you enter for those first few hours.  My entry stop loss is generally 1-2%.

I am actually doing the rolling stop-loss on EOS now for my exit. I sold near the top and re-entered quite luckily near todays bottom with more tokens. I have my stop loss about 5,5k sats below the price.  So I am already guaranteed profits, if it goes on to break its ATH I am still in it and can enjoy the gains

Hope these insights help you, I normally take the 1% loss in the face if my entry isn't perfect. This sometimes screws me and other times saves me.

I think you put such stoplos is absolutely correct. You can see that the market in recent days is constantly changing and difficult to predict, so trading at this time is very dangerous and high risk. Although the market is showing signs of recovery, I believe this is just a short-term rebound and bitcoin prices will likely continue to decline at any time as overall, bitcoin prices are in the down cycle.

It depends on what coin you are making the trades. This is just simple stop-loss algorithm and it will work once only and will end the trade. You will have to set it again and again once it ends with either 3% loss or 10% gain in theory! Now to make it happen over and over again you will need to have coin which id of quality having the swing trades all the time. If you manage to get such coin then you can trade multiple times in a week and thus can make good money out of it. Then it will work. For example, XVG, TRX etc.

That depends on what coin you were trading my friend. 10% profit is attainable in high caps if you are practicing day trading, but if you are busy enough to watch the market, I recommend that you purchase Gunbot and let him do the trades for you.

Are you doing a daily trading or not? From my experience getting 30%+ profit each day is hard to do. It makes me wonder how do you trade.

I agree with 10% profit sell, as long as you're trading only based on technical analysis, especially if you do a scalping. If you're doing a TA+FA then you should wait for more profits, around 30% and up. Set your cut loss around 5% or higher, 3% is too small.

From my experience you will loses more than you gain. 3% can easily be hit and you will have youself be push out of the trade more often than you ever think.  Trading is not just about setting stop loses but if you want to set stop loses you must do it in away that your position can accommodate the fluctuations in price.

Not a good idea, if you will cut your loss every time the cryptocurrency you trade fall down to 3% you would probably do this all the time and you will lose a lot of money, because it is very normal for any cryptocurrency to drop 3% due to their high volatility. Just think of this, if you will bought a cryptocurrency and the price went down, you can't say that it is already a loss unless you sell it to fiat currency, and giving up on a trade just because the price dropped a little bit is pointless for me because it can still recover at that price at the same day, depending on the situation of the market.