Topic: Stop lose trading feature - page 3. (Read 665 times)
Simply when you are being tired of watching the coin again and again and you didn't have much time for that, then strop loss will help you a lot, put the stop limit there and just do your work, but should be set the stop loss at a place which you want to be agree, so it will help you a lot and can prevent from more and more loss.
The aim of the features is to monitor and execute trade on your behalf, the stop lost feature is where a trader set an amount an asset can fallback to let say if you set $0.5 as a limited for a coin or token once the price fall to that price the trade will get executed automatically.
Usually I don't use it because I know myself when to stop and when to start the trade again. It my sound very very funny but whenever I put any trade in the stop-loss function I would be tracking the trade multiple times to check how it is doing. (Time waste 1st). Then I will check whether I am doing good or not, if I am doing good then I will just stop the stop-loss function and move the window to higher one so that I can just have more profits. (Time waste 2nd) Lolz. If I am not doing great and if it happen to go on the negative side then I will give it little more window to check if the coins gonna pump or not. (Time waste 3rd).
There you go, stop-loss be like why the hell I am active?
I can't control myself. If you are like this then no, stop-loss isn't for you.
indeed this feature is not mandatory for every trader. I think the convenience of each trader is more decisive. in essence every trade has the same goal and with different targets for each trader. Therefore, if we are comfortable without using a stop loss, we may be able to do a cut loss if the market is outside the support area, so that the trading strategy can still be executed properly. There you go, stop-loss be like why the hell I am active?
I can't control myself. If you are like this then no, stop-loss isn't for you.
I Am stock in-between the decision to trade and when to go on a break from trading, but I will like to have my capital on a stable trade and am considering using the stop lose features on the exchange to execute trades on my behalf while being away.
So have anyone used the stop lose the feature please share your experience.
Using stop loss will depend on the market situation. If you think that the market is not good, you can use the stop loss feature at the price you want before the situation becomes not good and make you miss the right time to sell your coin. So have anyone used the stop lose the feature please share your experience.
For example, when bitcoin at $62k and there is a sign to go down but you are not sure if the price will drop, you can use stop loss at $61k-$61,750 to sell your bitcoin so when the price really down, lower and reach on that range, your order price will be fill. After that, you can try to buy back at another lower price, depending on how deep the price will go down. The Stop-loss feature can prevent the big loss that you will get if the price drops significantly.
Personally I will not look for any automated way of closing options as I instead will go for mobile version or will keep my laptop ready to watch and close orders for the case of if I will not able to trade from my PC. Just a reliable way rather than going for ad-hoc solution on demand.
This must be the exact solution which will address as per what OP mentioned here. Just taking the market wherever we roam, will solve the need of automation as you are the one who will decide and open the trade. But in automated trading, everything will be happening out of control which means our analytical and managements will not be having any role in decision making. People do assume that they need automatic methods to exit at stoploss but practically we can place orders to get executed at stoploss levels on its own. I guess there would be no exchange or platform will not support placing orders higher or lower than market prices. 
Usually I don't use it because I know myself when to stop and when to start the trade again. It my sound very very funny but whenever I put any trade in the stop-loss function I would be tracking the trade multiple times to check how it is doing. (Time waste 1st). Then I will check whether I am doing good or not, if I am doing good then I will just stop the stop-loss function and move the window to higher one so that I can just have more profits. (Time waste 2nd) Lolz. If I am not doing great and if it happen to go on the negative side then I will give it little more window to check if the coins gonna pump or not. (Time waste 3rd).
There you go, stop-loss be like why the hell I am active?
I can't control myself. If you are like this then no, stop-loss isn't for you.
There you go, stop-loss be like why the hell I am active?
I can't control myself. If you are like this then no, stop-loss isn't for you.
I Am stock in-between the decision to trade and when to go on a break from trading, but I will like to have my capital on a stable trade and am considering using the stop lose features on the exchange to execute trades on my behalf while being away.
So have anyone used the stop lose the feature please share your experience.
You are talking about the stop loss orders I guess. If you want to use them you should first be careful about the slippage and then favor stop limit orders over stop loss market order. Because if the price crashes and bid orders are all removed or taken your stop loss can be executed at a very low price because of the slippage. So have anyone used the stop lose the feature please share your experience.
If you meant when you said "being away" is not looking on your Trades for couple of days or a week, then it's neither good nor a bad move. Trading requires a lot of time to monitor your trades, to make technical analysis to increase your chances of winning, stop loss feature is just for automatic closing your trade at the price you've set it'll stop, that's it.
Yes, OP is about to find a method to close their trades when they are unable to watch and close the order. I guess it would be on either side like it could be on target side and stoploss side as well. So, I guess going by any automated way of executing orders on behalf of manual trading must be an appropriate solution here but OP is concerned about only stoploss side hence I doubt they are into long term swing kind of trading hence they not in need to close while reaching certain profit levels for their open positions.Personally I will not look for any automated way of closing options as I instead will go for mobile version or will keep my laptop ready to watch and close orders for the case of if I will not able to trade from my PC. Just a reliable way rather than going for ad-hoc solution on demand.
If you are going for a long term trade then why do you need a stop loss? You can use stop loss for trades when you do an analysis it's like a safe net for a dump it's actually an optional but it was highly recommended and very powerful tool in trading. If you want stable coins then you can just leave your money to stable coins such as USDT, DAI, BUSD and other stable coins that is not volatile.
I guess, it depends to the people if they will use it or not. As I observe, those who uses stop loss and stop limit are for short term trade because it can really control risk. But, I guess there are also people who uses stop loss even they are trading for a long term, it depends I guess, because, stop losses put limitation on loss in trading. So it is very useful. But, the most important is you have the ability to master everything in cryptocurrency, your mind and emotions, you must control it. Yes, it depends from how traders understand the risk, with the kind of high volatile market, crypto traders who perform short-term trades are mostly the one who use stop-loss feature, this tool helps them to limit huge loses in case that the market position that they've taken is not favoring them, it will limit huge loses and give them enough time to try recovering those loses. You need to go deeper before you use this tool in order to maximize the worth and not to lose your chances of earning.
If you meant when you said "being away" is not looking on your Trades for couple of days or a week, then it's neither good nor a bad move. Trading requires a lot of time to monitor your trades, to make technical analysis to increase your chances of winning, stop loss feature is just for automatic closing your trade at the price you've set it'll stop, that's it.
For me it's not really helpful especially if you're a full time Trader, because sometimes setting the wrong stop loss could also means losing your chances to make profits.
For me it's not really helpful especially if you're a full time Trader, because sometimes setting the wrong stop loss could also means losing your chances to make profits.
If you are going for a long term trade then why do you need a stop loss?
I think this is not right IMO because as far cryptocreency is concern ,it is very volatile and trading commodities and currency is also too. You can leave your trade open even for long term,it can be swallowed up. Imagine the volatility nature of bitcoin and moving $6,000 difference from your entry point in a day and continues from the next day around $4,000 more in the week, you see it is dangerous not to include stop loss in trading. Whether long or short term trading requires the use of stop loss to avoid accounts going off while you don't plan to.
For me, what I observed on this forum or read on some chat channels about Telegram even on different social media/trading groups. There are some people hate stop loss, it's likely they are blaming stop loss for having loss on their trades. They don't think that it's their saviour for getting huge losses or in worst, liquidation.
So from my own experience, stop loss feature is good and always be your friend.
Different people must not need to be having same opinion and this way as per my own experiences stoploss is definitely a handy tool to save ourselves in order to get ready for another encounter regardless of how worst our prediction went in previous trade.So from my own experience, stop loss feature is good and always be your friend.
Unlike many people do assume, that without stoploss they could recover from losses, I feel like accepting your losses at minimum levels will help you to come out of frustration which will definitely help us to plan better for future trades. There will not be any restrictions on number of trades we may make per day then why should we worry on closing one order and then may make a new trade if our signal favours.
If you are going for a long term trade then why do you need a stop loss? You can use stop loss for trades when you do an analysis it's like a safe net for a dump it's actually an optional but it was highly recommended and very powerful tool in trading. If you want stable coins then you can just leave your money to stable coins such as USDT, DAI, BUSD and other stable coins that is not volatile.
I guess, it depends to the people if they will use it or not. As I observe, those who uses stop loss and stop limit are for short term trade because it can really control risk. But, I guess there are also people who uses stop loss even they are trading for a long term, it depends I guess, because, stop losses put limitation on loss in trading. So it is very useful. But, the most important is you have the ability to master everything in cryptocurrency, your mind and emotions, you must control it. 
If you are going for a long term trade then why do you need a stop loss? You can use stop loss for trades when you do an analysis it's like a safe net for a dump it's actually an optional but it was highly recommended and very powerful tool in trading. If you want stable coins then you can just leave your money to stable coins such as USDT, DAI, BUSD and other stable coins that is not volatile.
I will like to have my capital on a stable trade and am considering using the stop lose features on the exchange to execute trades on my behalf while being away.
You sound like you are in search of trading bot to trade for yourself. Basically, for stoploss and for target orders you can place orders well in advance and then it will trigger when markets move toward. But in highly volatile conditions if you put both then there are possibilities for triggering both of them (very few platform offers options to have both stoploss and target on same order hence when one gets triggered then the other will become disabled).There are some people hate stop loss, it's likely they are blaming stop loss for having loss on their trades.
Traders do hate because sometimes stoploss will trigger just for a spike and then market will move as per their predictions. But, we cannot do anything about such situation but must work on having stoploss order only at trend reversal point. 
For me, what I observed on this forum or read on some chat channels about Telegram even on different social media/trading groups. There are some people hate stop loss, it's likely they are blaming stop loss for having loss on their trades. They don't think that it's their saviour for getting huge losses or in worst, liquidation.
So from my own experience, stop loss feature is good and always be your friend.
So from my own experience, stop loss feature is good and always be your friend.
The real work in trading Cryptocurrency is ability to master your mind and your emotions. This ability will not come with stop-loss but you will be able to use stop-loss if you have trained and you have disciplined mind and emotions! Work on yourself and trading profitably will come to place!
I usually put the stop loss in my mind specially in the futures market. How many times i have see that prices dump and wicks are made only to eat your stop losses and then the prices move back up.
I do hear about this tactics more frequently to hide from manipulators or from exchanges but not sure why and how such types of trapping are more commonly happening. I guess when there would be enough volume then I guess we can freely place stop loss order well in advance without worrying about a spike just up to our stop-loss levels.When bitcoin market in the overall positive trend then you can keep your positions without any stoploss order but if you're trading in leveraged environment then you should go for stoploss orders otherwise your position will be auto squared off to cut losses not exceeding your total capital.
Always placing stop-loss orders will help because for example, right now bitcoin market is bullish but slight pull backs are more frequently happening time to time hence we cannot be sure about auto squared off in leveraged trading. Spot trading with bitcoin definitely not requiring stoploss if you are ready to hold. 
Using stop lose those not mean you are going on break stop lose means whenever you are on trade and you want to cut your lost incase if your trade goes side way it Will reduce your lost. Not everybody really prefer using stop lose for example like me now if am into stop trade I don't really use stop lose because I believe if am holding a good coin like bitcoin, Ethereum or BNB I believe they will definitely recover but if am into future trade I don't really joke with my stop lose to cut down my Lost and to avoid liquidation.
I always use stop loss and sometimes stop limit.
Stop loss order really help you to control the risk.
Stop loss order really help you to control the risk.
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