If you can't really do trade for the whole day meanwhile you also don't want to let your asset go down right to the bottom it's very essential but if you really don't care with the dump since you intend to hold the coin for a long time anyway it's not really important.
I personally never liked using stop loss since if I do trade most of them are short term that I could monitor and if I couldn't really monitor the market i'd decide to convert my asset to stablecoin instead.
But, overall certainly very important for people who have more to do than just seeing the market full day.
Topic: HOW IMPORTANT IS STOP LOSS - page 10. (Read 2067 times)
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Stop loss is very important actually for a traders when trading a coin especially if its so volatile. But perhaps mostly full time traders is the one who don't really want to use such stuff, wherien it's because of their own style when it comes to such things in my opinion . What i mean they are really confident without using stop loss because they are in it all the time to protect their profits. And for me usually only those who don't have enough time when trading using stop loss nowadays..
your selling price should still be on your limit so having a stop loss setup is very important for me, I can't execute a trade without this.
Yeah, there are different approaches here being followed by most traders. But, when you're entering a trade you must have stoploss levels in hand is that you can ensure on the event of an expected market movements how much you are affordable to lose. So, deciding about level of stoploss will be a good approach before entering a trade.I am also never entering into any of crypto trading without finalizing where I'm going to place my stoploss orders. Because, securing my current capital is more important for me than getting new profits.
If you can actively monitor your trade 24/7, you might not necessarily need a stop loss. I have friends that are full time traders, they are always online monitoring the market, some do not really use the stop loss all the time. When asked, one gave a particularly very striking reason. He said that if there might be a fall ( a loss) before there is a massive profit spike in a trade, so if you play it too safe and set your stop loss prematurely, you might save your penny and miss out massively on some future gains.
I hope there is a lesson to learn from this my story.
Stop loss meaning you'll sell when it hit your bottom price and even if you're a 24/7 trader, you must still have this one because this is your guide on when to sell to avoid further losses, and as per the story they still have the stop loss price but not on a dumping market I guess. This one can be considered as your trading strategy, your selling price should still be on your limit so having a stop loss setup is very important for me, I can't execute a trade without this. I hope there is a lesson to learn from this my story.
If you can actively monitor your trade 24/7, you might not necessarily need a stop loss. I have friends that are full time traders, they are always online monitoring the market, some do not really use the stop loss all the time. When asked, one gave a particularly very striking reason. He said that if there might be a fall ( a loss) before there is a massive profit spike in a trade, so if you play it too safe and set your stop loss prematurely, you might save your penny and miss out massively on some future gains.
I hope there is a lesson to learn from this my story.
I hope there is a lesson to learn from this my story.
Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a new newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
The importance of Stop Loss, is usually very varied, there are many who do not use Stop Loss to stay in the market, for example, if I have a market entry in LONG, I protect this entry with a "Leveraged Short" this forever protect myself against the movement of the market, this is how Jesse Livermore operated in the years 1800-1900, although now there is a lot of technology to do it through bots with artificial intelligence, it has been proven that those who are always in the market are more likely of win.
However, Stop Loss is good to use when there is no similar experience, since it is preferable to lose a small percentage that gives the "Stop Loss" than to lose everything.
It is difficult to be in the market with both operations if there is no help from bots, because each movement must measure the degree of profits and losses, there are many things that must be taken into account.
A stop-loss order is an excellent order that allows you to stop a trade if it moves to a certain level. Its benefit is that it prevents further losses and is also an important approach to manage risk. The only drawback is when it is executed and then the financial asset reverses. If you like to be a good trader then you should understand about stop loss. It saves your money to not get huge loss. So for a good and profitable trading stop-loss should be used.
For a daytrader, stop loss is very important in order to stop the loss at a certain rate and then use it to get profits from other coins anymore, If it is about the coin for investment, I personally don't set the SL or CL. This is only for certain coins that I play with some suggestions. So
And you may also see the importance of the security season and also there are some ways to stop loss that can really help to manage the lost money.
You may read this article, this is very clear and also interesting:
https://mytradingskills.com/stop-loss-trading
And you may also see the importance of the security season and also there are some ways to stop loss that can really help to manage the lost money.
You may read this article, this is very clear and also interesting:
https://mytradingskills.com/stop-loss-trading
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
People consider cryptocurrency trading to be similar to gambling which I also agreed and they can be both frustrating at some point so the trader will need to take some time off or when making market decisions become a problem that's when stop loss comes in.Therefore, stop-loss strategy is very important in crypto trading but some traders seem not to understand the benefit of it but traders that love to secure position in terms of capital gain and daily holding while not online or when the market next momentum is not certain to make use of stop-loss
When it comes to stop loss? Then these links would be a good read.
https://mytradingskills.com/stop-loss-trading
https://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
Stop loss is important when you are an active or scalper type of trader.
https://mytradingskills.com/stop-loss-trading
https://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
Stop loss is important when you are an active or scalper type of trader.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
Stoploss could really be a helpful tool for those who do trade on very active manner but not for those who do tend for long term aspect or those swing traders because they are just depending or waiting up for some recovery rather than on making some stop loss which would really be considered a total loss once it had been triggered out
not like when you are just having some open position then you would matter on the price volatility but somehow this might result into a longer waiting game
since we know that it isnt known on when the price would really be making out some recovery but for scalpers then stop loss is really important.
You have to stop loss, right? So, by any means, it's very important. Or at least if you think that price will fall and are afraid, then sell short on futures trading.
Btw in reality, there are two things: If you are long term holder, I mean if you can hold your coins for at least for 4 years, then, you don't need to use stop loss function (but still always better to use), even if you buy at 60K because bitcoin will reach its all-time high after halvings.
And if you are a person who prefers day trading, then set stop loss function on some % movement or otherwise I believe you'll hold a little bit more and sell in time when everything is going to move from fall to rise.
Btw in reality, there are two things: If you are long term holder, I mean if you can hold your coins for at least for 4 years, then, you don't need to use stop loss function (but still always better to use), even if you buy at 60K because bitcoin will reach its all-time high after halvings.
And if you are a person who prefers day trading, then set stop loss function on some % movement or otherwise I believe you'll hold a little bit more and sell in time when everything is going to move from fall to rise.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
Very, very important 
. But you’re not the only one that have seen such people who are going to argue that stop loss is of no importance, and you did the best thing by letting your friend be, just let him do whatever he wants to do, that’s completely his own business and it has nothing to do with you, but don’t feel sorry for him if he comes later to tell you stories (that’s if shame is going to let him).I have seen people who don’t use stop loss, I don’t bother asking them why or pressuring them to make use of it, it’s their choice and they can go with it. Stop loss is very important because it helps we traders to stop huge and uncontrollable losses that can happen in this volatile market. If someone says otherwise, then it’s their business, not mine
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Honesty, I stop using Stop Lose. Sometimes I miss good profit for stop loss. Stop loss can protect you from high loss, But sometimes your coin will solded for stop loss, then pump again. And that's why i stop using stop loss.
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You said really well that a professional trader always use stop loss .Its a great option to decrease your losses and give you a high ratio profit always .I think your friend may be don't have much knowledge behind that .He will surely learn it when he will make a huge amount of losses may be he can lost his everything .Its very good to know that you have this idea and you can apply it .Everyone is at liberty of choice in stop Loss usage. People who have a large stop Loss limit most likely will not want to always use it especially if their stop Loss is hit and trade goes their way. It's always painful. They will rather leave the trade and watch it closely.
I have a thread before about stop-loss - One of the Best Weapons in Trading. It shows how really important stop loss if you are doing trades.
For me, stop loss likely a saviour, especially if you are doing futures market, it will help to avoid liquidation.
And addition, using stop loss should also come with risk management, like risk:reward ratio, your stop-loss should come with a good risk:reward ratio.
Some people are telling that stoploss is a trap, since probably most of them are being stoploss hunted on every trade position there, but they don't appreciate the usefulness of it. In the long run, you will appreciate why stop-loss is very important.
For me, stop loss likely a saviour, especially if you are doing futures market, it will help to avoid liquidation.
And addition, using stop loss should also come with risk management, like risk:reward ratio, your stop-loss should come with a good risk:reward ratio.
Some people are telling that stoploss is a trap, since probably most of them are being stoploss hunted on every trade position there, but they don't appreciate the usefulness of it. In the long run, you will appreciate why stop-loss is very important.
You are very right. The stop Loss hunt is the reason why many traders don't use it because after their stop Loss is hit the trade will now go their predicted way. Some people don't know how to read charts and where exactly to place a stop Loss. Have been there and I know the common mistakes they make. Up till now some trades will still hit your stop Loss either you are a newbies trader or pro, the success rate is what is important and it will save you from further liquidation especially in futures.
Without a doubt, placing a stop-loss can save you when the market moves suddenly in any one direction.
While this is the case, many still don't know how to use it or don't really understand the benefit and go without. It is also a personal choice to use stop-loss in trading.
What I'd like for others who don't use stop-losses to take away from this is that most good traders take full advantage of this, so why shouldn't you??? Something to think about...
While this is the case, many still don't know how to use it or don't really understand the benefit and go without. It is also a personal choice to use stop-loss in trading.
What I'd like for others who don't use stop-losses to take away from this is that most good traders take full advantage of this, so why shouldn't you??? Something to think about...
snip~
You said really well that a professional trader always use stop loss .Its a great option to decrease your losses and give you a high ratio profit always .I think your friend may be don't have much knowledge behind that .He will surely learn it when he will make a huge amount of losses may be he can lost his everything .Its very good to know that you have this idea and you can apply it .
Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a new newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
You said really well that a professional trader always use stop loss .Its a great option to decrease your losses and give you a high ratio profit always .I think your friend may be don't have much knowledge behind that .He will surely learn it when he will make a huge amount of losses may be he can lost his everything .Its very good to know that you have this idea and you can apply it . Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.
Basically many traders use stop loss, but there are also traders that is hard headed and never use stop loss even if it is advisable to do so. I believe that a newbie need to use stop loss to avoid losing a huge capital or asset, trading is good way to earn but if you dont listen to expert that has a big experience on the trading field then goodluck for your loss.
If you use borrowed funds, then you should not have the question of using a stop loss, because in this case, its use is mandatory. For those who trade on the spot market, the use of a stop loss is not mandatory, and if the market goes in the opposite direction from your expectations, you will be able to close a losing order yourself.
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