Stop Loss, A life saver or a evil? - page 12.

LouVandetta

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Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

~~Could be both, honestly~~. But really, stop-loss is like your saviour and just like a hero without its cape. I've experienced something similar just like what you did.
It triggered the stop-loss but then again the price goes in the direction I expected to have. I take that as not my best day, simple as that. It's better to lose a little than to lose more without setting the stop-loss beforehand.

Putting aside your experience where it got triggered, but what if the price goes down really hard and you didn't put a stop-loss, you know what happens next, And if you did put a stop-loss, it means stop-loss already fulfilled its purpose.

nicolas1979

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Stop loss created as limit to handle your lost, this is not evil but saver. Good trader know their ability and everything has limit when reach it you should stop evaluate strategy and start again from beginning. Many people say stop loss evil, nightmare, looser but many asset already save because using stop loss. Imagine if you not use stop loss, your lost will grow up eat every value in your fund until bankrupt. Think wisely about stop loss and please use it for your own safety.

Maslate

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Quote from: dunfida on December 18, 2019, 03:18:02 PM

Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

Stop loss is a life saver most of the time yet if we do talk about risk management then this one is really important specially if you do actively trade up and dealing with
daily moving prices.Come to think if ever the price goes to the opposite way youve been expecting then your screwed.Its better to have SL than have nothing
at all as part of that risk management.

Having stop loss is a very helpful one because it prevents you as a trader to lose even more particularly with the very down market at the moment. Moreover, if you don't follow stop loss, you still have to do such things wherein you can minimize losses at the moment.

adroitful_one

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Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

Really, it depends on how far ahead I'm trading or if I'm going to get up from the pc during the trade. If I'm going to get up and be gone for a few hours or more, I'll throw a stoploss on there just to prevent anything crazy from happening while I'm gone. But, if I'm going to be sitting there keeping an eye on the coin I'm trading, then I usually won't use one. They're good just in case some weird news comes out and tanks the price for a short period of time for whatever reason.

dunfida

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Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

Stop loss is a life saver most of the time yet if we do talk about risk management then this one is really important specially if you do actively trade up and dealing with
daily moving prices.Come to think if ever the price goes to the opposite way youve been expecting then your screwed.Its better to have SL than have nothing
at all as part of that risk management.

StephenieDuong

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Quote from: AbuBhakar on December 18, 2019, 09:53:30 AM

Quote from: StephenieDuong on December 18, 2019, 09:47:16 AM

Agree with you that set stoploss sometime is not too good in crypto. Manytime stoploss price hit and make we out, but i dont think stoploss is a bad option for trader. If you want stoploss become really useful, then you have to learn, get experience on each time stoploss hit, summarize all yours trade history and find the best way to set stoploss.

I prefer setting my own stop loss amount in specific coins. This year I plan to monitor my trade, buy and sell prices to see if I really earn, preferably will stop using bit and just do it manually. I want to stop being greedy on waiting and setting unrealistic price. Will set goal and try to trade more often by next year. It will depends on how we set our stop loss to see it's effect on us.

Yeah right, stop loss effect or not will depend on each trader and their experience. I hope you will get luck next year and become a good trader. Always remember to set stop loss, either auto or manually and must monitor all trading history. Wink

Landak

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Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

For me, the stop loss function is very useful if we already know that market conditions are not favorable and we do not want to experience too much loss (this is very helpful). but if the scenario after the stop loss is touched then the price suddenly goes up again, it means it's not in our profit but if we are the people aware of a "possibility" when the price has touched the stop loss position we will get ready to take further action whether this will go up or keep going down then prepare in that position or take recover another time if there is no time to open a buy and sell position.
So, my point is Stop Loss is very useful, can reduce excessive losses. profit remains safe too, if you use this feature. everyone has a different experience when using the stop lose function.

watergold

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I use the stop-loss option only to trade daily with altcoin trading and other coins. It is very helpful if the market conditions like this and I do not need to lose my money a lot in trading.
If my bitcoin does not need stop-loss I will hold on and on because this is not good if selling bitcoin by losing money, bitcoin let me hold it until it grows back.

onyek16M

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Quote from: clickerz on December 18, 2019, 10:33:22 AM

Quote from: avatar_kiyoshi on December 18, 2019, 10:17:56 AM

Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

If so, you most likely misplaced stop-loss, which means that you are likely to place stop-loss too close to support or resistance.
I think stop-loss is important and a life saver for traders, this can prevent from greedy, also prevent fatal losses. So don't miss your stop-loss.

Its a lifesaver. /base on my experience, it saves me a lot. I put a range near I bought the coin, and when it goes, I have a little or bearable losses. If it goes up, it is okay, at least I am not on a big loss. In trading we aim to maximize profits, also to minimize losses too.

yes agree with you, stop lose is most important thing in trading. with stop lose in trading you no need to see market all day and everytime
stop lose save you from lose and avoiding emotional involvement such a greedy and angry in trading. so in trading i think need to use stop lose option

clickerz

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Quote from: avatar_kiyoshi on December 18, 2019, 10:17:56 AM

Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

If so, you most likely misplaced stop-loss, which means that you are likely to place stop-loss too close to support or resistance.
I think stop-loss is important and a life saver for traders, this can prevent from greedy, also prevent fatal losses. So don't miss your stop-loss.

Its a lifesaver. /base on my experience, it saves me a lot. I put a range near I bought the coin, and when it goes, I have a little or bearable losses. If it goes up, it is okay, at least I am not on a big loss. In trading we aim to maximize profits, also to minimize losses too.

aardvark15

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You can’t always get it right but the stop loss should help prevent a big loss in the event of a crash or a significant correction. Most good traders I know always set a stop loss to both prevent a big loss and to lock in a profit.

avatar_kiyoshi

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Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

If so, you most likely misplaced stop-loss, which means that you are likely to place stop-loss too close to support or resistance.
I think stop-loss is important and a life saver for traders, this can prevent from greedy, also prevent fatal losses. So don't miss your stop-loss.

the rise

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the basic function of stop loss is to keep your profits awake and not go down too much, but also to reduce worries when not online. Indeed, the painful thing is when prices touch stop loss and then reverse direction as quickly as possible. To anticipate this, we also need to pay attention to the daily trend, if it is still in the same range, we don't need to do it.

janggernaut

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Quote from: redigaffi on December 18, 2019, 07:17:05 AM

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

It can be both. Stop loss can prevent you to lose more and it can be also make you lose many times, but after some time, the price is bounce back. Stop loss is something like double edge-sword, if you are lucky, you will not lose a lot, if you aren't lucky, you will lose money which you supposed to win if you wait it a little longer

AbuBhakar

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Quote from: StephenieDuong on December 18, 2019, 09:47:16 AM

Agree with you that set stoploss sometime is not too good in crypto. Manytime stoploss price hit and make we out, but i dont think stoploss is a bad option for trader. If you want stoploss become really useful, then you have to learn, get experience on each time stoploss hit, summarize all yours trade history and find the best way to set stoploss.

I prefer setting my own stop loss amount in specific coins. This year I plan to monitor my trade, buy and sell prices to see if I really earn, preferably will stop using bit and just do it manually. I want to stop being greedy on waiting and setting unrealistic price. Will set goal and try to trade more often by next year. It will depends on how we set our stop loss to see it's effect on us.

StephenieDuong

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Agree with you that set stoploss sometime is not too good in crypto. Manytime stoploss price hit and make we out, but i dont think stoploss is a bad option for trader. If you want stoploss become really useful, then you have to learn, get experience on each time stoploss hit, summarize all yours trade history and find the best way to set stoploss.

ChrisPop

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You can't predict market movement and you don't know the forces present in the market at any moment so using stop losses is a must. There are many ways to manage your risk and it all depends on you. It depends on your trading style and strategies. My advice to you is to paper trade to experiment things and try to avoid OBVIOUS stop loss placement areas as they are the most hunted areas by the market movers Wink

makolz26

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Why an evil? For me this is a life saver for most traders, as you can always buy again when the price is at dip rather than losing all your money and has no return on it at all.

For some it maybe an attempt but still stop loss is considered as the best friend of most crypto traders, without it all your fund might at risk all the time.

Coyster

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What if the fall continued and the direction the market took was a negative one for your investment, when stop loss does what it's meant to do, and probably the market corrects itself, I do not blame myself or the feature.

Just because it seems you missed some profits this time around, doesn't mean next time would end up that way, you can always put the funds left back into your investment, it's better than having to lose far more than that.

djsugar

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Stop loss can prove to be more of a life saviour than an evil. You just need to maintain the risk-reward ratio. Traders mostly go for 1:4. But it is dependent upon your preference.

Everyone knows pretty well how much volatile the crypto trading is. A single swing in opposite direction can rob you of all your money. So it always better to put stop loss in place. The best part is it is flexible to your needs. You need not always put tight stop loss but regardless it is really essential to trade.

Responsible trading is always better!

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