and stay away from bitmex if u want to use stop losses, they wont trigger becuse the system always gets overloaded so no orders trigger, just a warning guys happend to me 3 times that my stop losses did not trigger even if i had a range of 300 dollars and got liquidated.
You said it right. Stop loss is very significant in every trades but I experienced many times in bitmex that stop loss can't be triggered and just as I am confident and calm that my stop loss was triggered, I've got liquidated. Make sure your stop loss was hit before leaving your entry. Anyway, OP stated useful realizations about trading.
Stick to your guns, believe in your original trading plan, and let the market prove to you that you’re wrong by hitting your original stop loss if it moves against you.
We always do some mistakes in trading, I admit it but those mistakes makes me an experienced trader. I learned from it. Now, with the help of some technical analysis I've been using I am sticking with my own TA not with the others.
I think stop loss is just for short term traders, especially day traders, because there is nothing to apply stop loss to when you are a long term trader, there is no loss unless you decide to sell off the holding, and this is why I prefer to just be an holder, I invest, and then hold till I see substantial profit that is satisfactory in my investment before pulling out my profit.
Stop loss is a very great tool to minimize risk involved in day trading, although we have some professional traders that feels they have advance beyond stop loss and could control their trade as they like without it having any effect on them if they don’t trigger any of these trade tools available to help minimize loss or take profit, anyway that is their headache, I am strictly into long term holding business in crypto.