Do we need to have a stop loss if we are 100% positive about a trade? - page 5.

Gladitorcomeback

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Quote from: SamReomo on November 28, 2023, 04:14:12 PM

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

Stop loss is generally used to save fund from big loss when any bad incident happen in crypto. I was also against Stop loss and never used before 2021. If you remember BTC crash due to china fud , I was holding many coins that time and suddenly BTC dump from 43k to straight 30k and you can imagine what would be happened with altcoins. My portfolio had fallen very low that time and then I felt the need of stop loss.

Stoploss is one feature and it's positive or negative impact depends upon the trader strategy. If we 100% sure about about any token and also if token dump then we could hold it (we have extra fund to trade other comfortably) then no need to use stop loss. Traders usually trading in volatile coins and this why stop loss is necessary.

joniboini

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Quote from: SamReomo on November 28, 2023, 05:14:34 PM

Now, my main focus is on Bitcoin and a few other altcoins that aren't highly volatile as those useless shit-coins which exist for pumping and dumping.

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

But if you use high leverage, that doesn't really affect the volatility of the coin you trade right? Wouldn't that expose you to more volatility instead? I don't see why you would avoid SL altogether even if you're confident with the coin that you trade, since that confidence can't give you future insight to begin with. It is a also bit unwise to think that by conquering fear you mean not using any risk management tool available for you. I mean, you. can get fucked by many things other than wrong technical analysis.

BlackBoss_

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Quote from: SamReomo on November 28, 2023, 04:14:12 PM

I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

You never know what will happen with the market and stop loss, stop limit orders will help you to prevent big loss when black swan occurs. Those order types can save your portfolio even when you are sleeping.

A professional trader actually uses stop loss and stop limit order more than amateur traders. Because they experience a lot, more than amateur traders to know that if they don't use those order types, their portfolios will have big risk to lose big in value with black swans.

Even you are very confident with your open position, using stop loss or stop limit order is good. It is not harmful but actually is very helpful for you.

shinratensei_

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honestly it depends there's no harm in keeping from losing even more so when you are so sure, you can just set stop loss and then relax and not thinking about your trades every minute.
simply put its good to have some safety because who knows whats gonna be turning out in the future, you could be in the worst position at the worst time basically around the time like 5 minutes before announcements of ETF disapproval for example, the market would change drastically and the trades that you initially confident in, would make you not really confident.
even more so with higher leverage as many said because the market could definitely go wrong within minutes, there have been many histories in the market where the price plummets within a blink of an eye.

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Quote from: SamReomo on November 28, 2023, 04:14:12 PM

I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

I have won many trades and I've also lost many trades but I have never used a stop-loss for a single time and that has helped me as a trader to improve the areas that needed that improvement. I'm not really against stop-losses but I believe they can cause fear in the mind of a trader and the trader might not take risks if he/she fears about the losses that take place if the trades go wrong.

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

I have understood that setting a stop-loss will only limit a trader's loss and that is good enough for those traders who are actually not confident to trade. But if you are a good trader and does not use leverage in trading, then setting a stop-loss does not make sense. It only limits your potentials and capabilities to trade, that is not good at all in the long run since trading is all about enhancing your skills and working strategies.

This is the reason why I don't trade and use stop-loss. Although that may be good for novice traders to avoid losing a lot in trading, but let's just accept the reality that as traders, we need to combat those losses in order to end with successful trades and that will only happen if we pursue trading despite the fact that we can lose a lot from it.

Bitcoin_Arena

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Stop loss has nothing to do with instilling fear. It all depends on one's trading strategy and how they try to manage risk. What may work for you won't work for everyone. I use stop loss most of the time when scalping with high leverage. Without stop loss, one bad trade and all the profits you had made from several trades are wiped off.

Quote from: SamReomo on November 28, 2023, 05:14:34 PM

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

The day the market plummets by over 50% including Bitcoin like it did in March 2020 is the day you will know why some people use SL Grin

It's not about being brave or a coward. It's a just a risk management tool.

If someone didn't use SL for spot, I think they are a little safe, so long as they have the patient to wait for the price to get back up.

Assface16678

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Well, it will depend on the trader. For me, I don't use stop loss on every trade that I make. Because I have a separate account for my live trade, meaning I will put some amount or capital in my trading account, the account came from my storage trading account, as I called it. In short, I have two different accounts used for trading: one is for storing my capital to be used in trading, and the other is the one I used to execute the trade. The set-up is that I will put some amount in my trading account, say $100 worth of bitcoin or BTC/USDT pairs, and from that, only the $100 worth of my money will be going into the trade, so even if I don't stop the loss, if the equity reaches zero, only the $100 worth of my asset will be lost. That's how I manage my trade. I also don't use stop-loss often because, of course, there is a downtrade, so I want to see if my trade will be really wrong or not. In summary, it depends on the trader as to how he will trade, whether he will use stop loss, take profit, etc. If your strategy works for you, then it's good, as we trade on our own accord.

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Quote from: Oshosondy on November 28, 2023, 04:33:19 PM

I do not use stop loss again since 3 years ago when I saw its disadvantages. You will know what that I am talking about.

I trade with low leverage.

I average. People that average will likely not be using stop loss.

Those traders that uses stop loss are those that uses high leverage, or trading a very volatile altcoins and not averaging.

I on the other hand do trade with high leverage but only on the coins like Bitcoin as they aren't going to move a lot as compare to the other shit-coins that are basically pumped and dumped. I don't really trade the shit-coins anymore as they are risky and I have faced huge losses when I traded those coins in past. Now, my main focus is on Bitcoin and a few other altcoins that aren't highly volatile as those useless shit-coins which exist for pumping and dumping.

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

Oshosondy

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I do not use stop loss again since 3 years ago when I saw its disadvantages. You will know what that I am talking about.

I trade with low leverage.

I average. People that average will likely not be using stop loss.

Those traders that uses stop loss are those that uses high leverage, or trading a very volatile altcoins and not averaging.

SamReomo

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I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

I have won many trades and I've also lost many trades but I have never used a stop-loss for a single time and that has helped me as a trader to improve the areas that needed that improvement. I'm not really against stop-losses but I believe they can cause fear in the mind of a trader and the trader might not take risks if he/she fears about the losses that take place if the trades go wrong.

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

Topic: Do we need to have a stop loss if we are 100% positive about a trade? - page 5. (Read 610 times)