Does it mean you "instant-sell" when your stop loss triggers? I mean, if your stop loss triggers at 9900 sats and if that happens then you put a sell order at 9800 sats, wouldn't it sell instantaneously after it if there are buy orders between 9900 and 9800?
Spot on.. I want to be out of the market as soon as my stop is triggered.
Sometimes the market falls below your stop without bringing you out, at which point you'd have to manually interfere to get out asap.
Which is why I suggest trading only the most liquid markets, and markets that have momentum.
That way there will always be a way for you to exit at a favorable price - if need be.
That stop loss seems kind of tight.. you don't get "whip sawed" a lot?
At times yes... but who cares? there's an opportunity to double up several times a day - what does it matter if I get stopped out of one trade.
If you read over my past trades, you will find several recurring plays. Such as taking advantage of momentum.
If i get into a market that is trending upwards, has 20+ recent trades, has an organic stream of volume that is still building up, has a tight spread and is in the early stages of a rally - the probability of that market stalling out is very slim - infact, in a climate like that, it is easier to make 100% than it is to lose 2%.
It all comes down to understanding how a market moves.
When I place a trade I would rather exit with exponential profit than a minor loss, of course.... but on the flip side, I would rather exit with a minor loss instead of suffering a major loss because I refused to used a stop order.
At 2% stop loss you only have 98 times (actually less if you count transaction fees) to lose 100% - not "loose" your money.
Also the question remains, why don't you show when some of your stop-losses trigger? Surely there must be some trades that don't go as planned.
It would intrigue you to know that there is an actual strategy behind "loosing" and an even more precise strategy behind being a consistent loser.
But then, you have to look at how psychologists define insanity: "The definition of insanity is doing the same thing over and over and expecting different results".
If you have the ability to lose "only" 98 times in a row, then you have no business trading.
As for my own losses, maybe I'll create another thread for people that want to know which coin will enable them to lose money the quickest.