Topic: One of the Best Weapons in Trading (Read 1181 times)
Very useful information every new or potential trader would need. This is a very resourceful platform. I have lost so much already and the market keeps bullying me anytime I try a come back. I have been seeing this "stop loss order" but I never knew much of its importance. Thank you for the detailed tutorial on its usage.
Stop loss is one of the best tools in trading but it has not worked for me well. I have tried to used it but most time my position always get hit before a reversal in my direction. Patience has worked for me and I have been making money from trading without mush worrying lately
That's my point, stop lose tools has some great disadvantage compare to it advantage. Imagine you're about to pick profit and before then you get hit by stop lose tool (what a regrettable mood such a trader will be), that means, you have lose out of the game gains. Doing a thorough research could save us from this action while we wait patiently for the coins to hit bact our targets. Stop-loss doesnt give you any profit and i dont know if you do know on what you are saying or just totally trying to go along with the discussions here without even knowing on whats Stop loss in the first place.
It is a limiter on what price your trade should stop, once its triggered or hit then consider it as a loss. Same goes for TP or take profit too where once the condition had been met then it will surely execute according on that you had set-up. Of course there are advantages or disadvantage, it depends on what kind of trader you are because if you are a long term kind of trader then these tools wont really be needed nor be relevant into your trading system but if you are active/day trade then these tools are very helpful i shall say.
I never like using stop loss, I would rather just ride out the storm instead of letting a stop hunting whale pick up my coins for cheap. If your in any good coin it will always rebound if you are patient enough to wait it out.
I understand your idea, exchanges are top in market manipulation and this can open investors (especially crumb holders) to sell off, while they prepare to come back into the market with a pump It is advised never to sell all your coin except there are valid news of exit scam or approaching long bear market. Understand the fundamentals of every coin and stay close to the community. It helps to understand the movement of the price 
Stop loss is one of the best tools in trading but it has not worked for me well. I have tried to used it but most time my position always get hit before a reversal in my direction. Patience has worked for me and I have been making money from trading without mush worrying lately
That's my point, stop lose tools has some great disadvantage compare to it advantage. Imagine you're about to pick profit and before then you get hit by stop lose tool (what a regrettable mood such a trader will be), that means, you have lose out of the game gains. Doing a thorough research could save us from this action while we wait patiently for the coins to hit bact our targets.
I think the best weapon you have in trading is the exchange you are using. Without a proper exchange you can't do anything, exchange is actually the weapon you are using and all the other stuff are the features of that weapon, so the stop loss could be the lock or maybe buy order could be the trigger, but the weapon itself is the exchange without a doubt.
I do not believe that you could use all of these small stuff on a bad exchange and still be fine, at the very least that exchange could be hacked or could have a pump and dump and you would be screwed no matter how great you are utilizing the features of that bad exchange. On contrary if you are using a great exchange, even if you do not utilize the whole features of it, you could still use some of it and will be fine as long as the exchange is great.
I do not believe that you could use all of these small stuff on a bad exchange and still be fine, at the very least that exchange could be hacked or could have a pump and dump and you would be screwed no matter how great you are utilizing the features of that bad exchange. On contrary if you are using a great exchange, even if you do not utilize the whole features of it, you could still use some of it and will be fine as long as the exchange is great.
Stoploss may sound like most important tool in trading but in my understanding, not in the every trading strategy and not in all types of markets. We can simply skip the need for stoploss, by withdrawing into our wallet with the plan of long term holding.
Yes, long-term holding will simply eliminate the need of going for stoploss.
I'm trading only in spot market and I am choosing my trading assets after long and strong due diligence which means I am trading only highly potential asset which are good for long-term holding as well. In recent times I find such an asset is, GRIN. It is a privacy oriented coin and it must be having great future still I am trading it in short-term but if market is not going as per my expectation then I will simply go for withdrawing into my wallet. I never need to exit in stoploss.
Yes, long-term holding will simply eliminate the need of going for stoploss.
I'm trading only in spot market and I am choosing my trading assets after long and strong due diligence which means I am trading only highly potential asset which are good for long-term holding as well. In recent times I find such an asset is, GRIN. It is a privacy oriented coin and it must be having great future still I am trading it in short-term but if market is not going as per my expectation then I will simply go for withdrawing into my wallet. I never need to exit in stoploss.
Stop loss is one of the best tools in trading but it has not worked for me well. I have tried to used it but most time my position always get hit before a reversal in my direction. Patience has worked for me and I have been making money from trading without mush worrying lately
Actually this needs patience thats why there are no need for being problematic.Stop Loss is one good way to keep your funds safe but to profit?i don't think so.
Exclusive literacy is the path to success for a professional entrepreneur. Newsletter available, mobile application available highlights professional training free registration here are all success recipes. Trading will get better weapons for you when you have the experience to trade do a finish by holding a coin wait to see if that pumps.
exactly mate,there are many available knowledge now at our point,Online is giving free for us to make our way to success.Thanks to thread like this because we are sharing our knowledge to help others out in trading misery .
Stop loss is one of the best tools in trading but it has not worked for me well. I have tried to used it but most time my position always get hit before a reversal in my direction. Patience has worked for me and I have been making money from trading without mush worrying lately
That's my point, stop lose tools has some great disadvantage compare to it advantage. Imagine you're about to pick profit and before then you get hit by stop lose tool (what a regrettable mood such a trader will be), that means, you have lose out of the game gains. Doing a thorough research could save us from this action while we wait patiently for the coins to hit bact our targets. 
Stop loss is one of the best tools in trading but it has not worked for me well. I have tried to used it but most time my position always get hit before a reversal in my direction. Patience has worked for me and I have been making money from trading without mush worrying lately
It is good that inspite of not using much stop loss you end up keeping profits. But just on a cautious note always have certainly percentage in mind that you can afford to lose and if it falls at times you may end up in a huge loss if you do not use stop loss. Have seen people losing their money not such instances when they have not used stop loss particularly.
Stop loss is one of the best tools in trading but it has not worked for me well. I have tried to used it but most time my position always get hit before a reversal in my direction. Patience has worked for me and I have been making money from trading without mush worrying lately
Exclusive literacy is the path to success for a professional entrepreneur. Newsletter available, mobile application available highlights professional training free registration here are all success recipes. Trading will get better weapons for you when you have the experience to trade do a finish by holding a coin wait to see if that pumps.
Whenever I get on a new trade, I always try to setup up stop loss orders incase the trade doesn't go in my direction (it doesn't always have to) Using stop loss, I'm able to cut my losses before they start escalating to even bigger amount. The major downside with using stop loss is that you can get stopped out of a trade, lose some percentages and then the market will continue to move in the direction you originally analyzed it to go. It's painful but then very helpful especially if you can't monitor your trades at all times.
The importance stop loss cannot be overemphasized in trading it is a trading saver purposefully used to cut losses as forex trader I analyzed my trades with risk to reward ratio while taking cognizance of the stop loss to cut off a losing trade while a percentage of my portfolio is lost,I also personally experienced a scenario of price analyzed to move northward i.e bullish however turns bearish and painfully hit my stop loss before returning to bullish of course wide stop-loss wouldn't cater for a profitable reward in trading thus this is indeed the most difficult part of trading which requires experience.
In his life, each person learns not only from the mistakes of others, but most of all from his own mistakes. In my opinion, trading is no exception, and therefore any failure a smart trader will be able to turn as an advantage in subsequent activities. The main thing is to understand your mistake and take it into account in the future. Of course, the cryptocurrency market is very volatile and there can always be problems, but you always need to optimally approach minimizing your risks.
Good point, from those mistakes that you committed will start a new understanding. Assess and observe what
particular things that happened and developed
sets of anticipations it will enhance your chance
to fully recognized your opportunities, with how volatility are present from crypto market you need to make sure
how will you use every tools that you've
learned to take your advantages.
You are right but no sure tips that guarantee traders only profit, profit and loss works together, maximazing your profit while you minimize your loss is what shows how good are you at what you are doing. But is definitely sure loss will come one day.
Absolutely. This thread is only minimizing the loss and also in this way, you can maximize your profits since you still have less loss then possible you can gain more profits since your capital is still high.Every trader got a loss, you can't be a succesfull if you don't experience such downsides, not everyday is a christmas day.
Whenever I get on a new trade, I always try to setup up stop loss orders incase the trade doesn't go in my direction (it doesn't always have to) Using stop loss, I'm able to cut my losses before they start escalating to even bigger amount. The major downside with using stop loss is that you can get stopped out of a trade, lose some percentages and then the market will continue to move in the direction you originally analyzed it to go. It's painful but then very helpful especially if you can't monitor your trades at all times.
One of the best weapons of trading is to follow trading strategies and charts. By following the trading charts the losses are less and the difference between the currencies is understood. It is better to use the indicator to get the right result. However, you can still change the colours and periods of the indicators for analysis in the desktop version. If you reduce the period you will get fewer signals but most will be correct. In this case, the risk is much lower.
You are right but no sure tips that guarantee traders only profit, profit and loss works together, maximazing your profit while you minimize your loss is what shows how good are you at what you are doing. But is definitely sure loss will come one day.
Absolutely. This thread is only minimizing the loss and also in this way, you can maximize your profits since you still have less loss then possible you can gain more profits since your capital is still high.Every trader got a loss, you can't be a succesfull if you don't experience such downsides, not everyday is a christmas day.
You are right but no sure tips that guarantee traders only profit, profit and loss works together, maximazing your profit while you minimize your loss is what shows how good are you at what you are doing. But is definitely sure loss will come one day.
Trading isn't gambling alone
This is correct.Quote
and gambling isn't a synonym of making risks.
This is wrong. Gambling is same as taking a risk whether it be for the aim of a reward or not.Quote
Without risk, there is no reward.
Correct. Which is why people are attracted to it.Quote
Gambling is pure luck except for some games.
We can say that any type of gambling has a luck factor in it. Thats why it is same as taking a risk. A government job is not gambling because it will pay you a fixed amount of money every month whether you slack it or work your ass off.Quote
Everything has risks but not all of them are connected with gambling. Don't use these sentences wrongly.
If you read it again, I was referring to F&O market. That is essentially a type of gambling while Spot trading is not a complete gamble. Maybe you are interpreting it wrongly and I am sure that we are both on the same page.
Knowledge is the power, in everything. Trading isn't just A+b=C and done, it's solved whether the price will go up or down, NO! At the same time trading is an informational war between persons cause those who know what happened recently have a higher chance in it, you have to analyze information on a higher level, determine what specific news happened for example around currencies you trade and this includes every kind of news: related to exchanges, related to market cap, related to specific persons, etc. Every step has an impact on everything. But... At the same time, luck is beneficial and even a mistake can be a lucky step, believe me.
Trading isn't gambling alone and gambling isn't a synonym of making risks. Without risk, there is no reward. Gambling is pure luck except for some games. Everything has risks but not all of them are connected with gambling. Don't use these sentences wrongly.
Yes, some traders will always gambler with their money in order to make huge profits.
There is a difference between betting on prices and buying/selling assets. The second one is spot trading and that is less likely to be a gamble if you do your research first. The futures and options market are more of a gamble, though analysis helps.Jump to: