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Topic: HOW IMPORTANT IS STOP LOSS - page 12. (Read 1990 times)

full member
Activity: 2128
Merit: 180
April 25, 2021, 08:37:36 AM
#6
Stop loss saves me from losing more money, and this one works for me but of course you have your own strategy and Stop loss might not be option for you.

If you don't know what to do when the market dumps, better not to panic and asses your strategies or look for other way that fits your trading style, some don't have a stop loss at all but they remain profitable because they are buying at the bottom price and sell at the peak price.
full member
Activity: 1148
Merit: 158
★Bitvest.io★ Play Plinko or Invest!
April 25, 2021, 07:43:49 AM
#5
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.

Yes, leave him be as he will definitely learn from this experience, and he will learn to listen to advices.

Stop-loss is important to stop our loses to our desired amount. Although one must not say desired amount for loses, but we are actually the one setting the amount of loss we can somehow accept. The downside of stop-loss is having your trade to be stopped when sometimes it bulls after the fall.

Another thing about stop-loss is it is most advantageous for long term traders/investors who have limited amount of time in their hands.
hero member
Activity: 1834
Merit: 879
Rollbit.com ⚔️Crypto Futures
April 25, 2021, 07:36:48 AM
#4
Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss.
Well for me I think failing to use a stop loss is failing to manage your risk, its all part of risk management!

FYI trading without a stop loss doesn't always mean losing trade, sometimes you get to see losing trades turn into winners because of the trading style or avoid placing a stop loss in the wrong place.

Quote
I told him no good trader trades without stop Loss.
I know some that actually don't because they believe in their analysis and don't mind blowing an account as they can afford to lose, and also believe in going big or go home.


Quote
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.
Maybe his a profitable trader, have you asked him how things are going for him in the life of trading without using a SL.
legendary
Activity: 2338
Merit: 1354
CoinPoker.com
April 25, 2021, 05:10:12 AM
#3
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.
mk4
legendary
Activity: 2786
Merit: 3845
Paldo.io 🤖
April 25, 2021, 04:39:38 AM
#2
While traders using stop loss are very very common(understandably so), some people simply doesn't like using it simply because it doesn't apply to their sort of 'style'. Always remember that trading strategies are going to vary from person to person.
full member
Activity: 896
Merit: 115
April 25, 2021, 02:47:59 AM
#1
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.
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