stoploss is used to anticipate a reversal of the market reaction, its use is in accordance with the analysis that we believe in, I usually look for support or resistance as a defense area, and don't forget to give it a distance, because often the market just grabs the stoploss and returns according to our analysis path, so from Of course, many people feel like they are being manipulated by the market
that often happened, people with stop loss thats not too far from the current price will definitely lose, the market always presenting us with sudden market pull back that causes people that trades future with high leverage and those that have small distance stop loss to be liquidated, its always like that that I also have learnt that no trading method better than spot since loss recovery is easier just to wait it out unlike derivatives.
but stop loss in practice for general people is a good practice at least if the market suddenly have reversal and it was sharp enough you know that you're not losing anything more than you can tolerate.
lack of using stop loss might incurr massive loss, imagine the collapse of terra luna and ftx, who would've thought? nobody predicted it, but stop loss certainly helps at that time to prevent us from further losing.
On the time that stop loss would really be that relevant is on the time that you are really that dealing up with the market in short trades or simply whether those who do get involved with day trade
or futures or with those who do make out some scalping on which i could say that it would really be that something useful but for those who do make out some spot trades then i dont see for it to be much needed or something that would really be considered on using so. This is why it would really be that best that you should really be that tending to make use of it when making use of short trades on which
on the time that you would be able to hit up those SL's then it is something that couldnt really taken back and this is really just one main issue, not unlike on dealing up with
having no SL's is that you could potentially wait up for the price to recover once again.
There's no such thing about trigger with those orders specially if you are really that making yourself going for long term on which you would definitely be having those kind of holds.