Topic: Stop losses - page 3. (Read 1212 times)
In current situation of crypto industry stop losses should set because a person can buy when the value is low. For those who kept for long term hold they don't need to set stop losses is it does not worth for long term holders.
Every good trader is clear that Stop Loss is a lifesaver, in my case when I trade the first thing I do is place the Stop Loss and then place the Take Profit, because that way I ensure how much I am willing to lose and not take by surprise nothing.
The important thing about Stop Loss is that it gives peace of mind and that it can offer teaching if the trader realizes what his mistake was, some traders do not use Stop Loss because they are always in the market no matter what, but it is something that you must have a lot of concentration, unless you have a large group of bots that do not miss anything.
Of course this is recommended, but there are many traders who have other styles of trading which is totally respectable. but in my case I usually go for the traditional and well-known style, which includes the correct use of Stop Loss and "Take Profit"
The important thing about Stop Loss is that it gives peace of mind and that it can offer teaching if the trader realizes what his mistake was, some traders do not use Stop Loss because they are always in the market no matter what, but it is something that you must have a lot of concentration, unless you have a large group of bots that do not miss anything.
Of course this is recommended, but there are many traders who have other styles of trading which is totally respectable. but in my case I usually go for the traditional and well-known style, which includes the correct use of Stop Loss and "Take Profit"
Stop Loss can not only stop you from short loss but it can also secure your coins so In my opinion it is the best one for the trading and you can use this when you don't know about the coin.
Stop losses is good when less out our predicting about bitcoin and altcoin, almost altcoin price depending with bitcoin, we don't know when many fud about bitcoin and this good way after success buy coin and try to sell order always use stop losses to less risk with much loss, I think we can recovery our money and buy on lower price again, how ever we get chance to buy back with lower price and recovery with how much loss before.
BTW, I don't like stop loss. Sometimes, I noticed I miss big gain for it. Stop loss is helpful to protect fund. But, From my opinion It's not a good decision to use stop loss every time.
I am not saying stop loss is useless. But we have to use it perfectly. Sometimes coins up-down much and hit the stop loss, then pump
I get your point.I am not saying stop loss is useless. But we have to use it perfectly. Sometimes coins up-down much and hit the stop loss, then pump
But it has to be used if you're just protecting your fund and you want to make sure that you won't gain that much in losses. I understand that whenever a trader misses that jump after being dumped.
The only thing the trade has to do is to make sure that he/she has also sets a buying order after the stop loss.
Yes, It is happened many times. When I trade my, I loses many times and holding my coins and finally I gain many times. But, at present, I loses my profit and still hold for recovering my losses. I think, in future, I gain my profit, because I hold my tokens for long term.
- In a nutshell, you are trading with a hold on everything until recovery and profit, a couple of times you have had a high profit with this style and i can consider this a lucky ratio or you are holding a decent few tokens but whatever the case, I still recommend you take some more time to read about the stop loss rule, this rule may not help you right now with your work style, but it could answer the problems you will face in the future with that style of work. I mostly hold and rarely set stop-loss. I set stop-loss for daily or weekly trade only. While for a long-term asset, I never use stop-loss. So, stop-loss is just optional, not really a must to use, it is probably just used by traders. But for investors, it can be a bit useless because they don't target to take profits in a short time.
But even if it's an optional thing to do, you can't deny the power it does to help you prevent the possibility of big losses, yes for long-term people it's not useful but for the short-term people, this is a detrimental thing if they want to last for a long time in trading. Yes, It is happened many times. When I trade my, I loses many times and holding my coins and finally I gain many times. But, at present, I loses my profit and still hold for recovering my losses. I think, in future, I gain my profit, because I hold my tokens for long term.
For potential tokens, I don't think it's a worry if you hold it for the long term, and I don't think you should use stop losses, because our goal is to invest for short-term trading, I think it is mandatory to use it, but if it is hit many times, I think don't be stingy to place a further stop loss, so that the candle has room to move
BTW, I don't like stop loss. Sometimes, I noticed I miss big gain for it. Stop loss is helpful to protect fund. But, From my opinion It's not a good decision to use stop loss every time.
I am not saying stop loss is useless. But we have to use it perfectly. Sometimes coins up-down much and hit the stop loss, then pump
I am not saying stop loss is useless. But we have to use it perfectly. Sometimes coins up-down much and hit the stop loss, then pump
Yes, It is happened many times. When I trade my, I loses many times and holding my coins and finally I gain many times. But, at present, I loses my profit and still hold for recovering my losses. I think, in future, I gain my profit, because I hold my tokens for long term.
The Professional Traders utilize mental stops. One of the most reasons professional dealers do not utilize difficult halt misfortunes is since they utilize mental stops instead. The advantage of this can be simply do not got to 'give away' where your halt misfortune is by setting it within the market.
I mostly hold and rarely set stop-loss. I set stop-loss for daily or weekly trade only. While for a long-term asset, I never use stop-loss. So, stop-loss is just optional, not really a must to use, it is probably just used by traders. But for investors, it can be a bit useless because they don't target to take profits in a short time.
Just curious, do any of you set stop losses and recollect again later? Or do you just HODL regardless of what the dip is.
I believe that depends on what you're doing. If you're trading, then it is advisable that you should use stop Loss. It's about the most effective way one can employ to minimise loss as much as possible. In order to safeguard your capital or asset, then you should use stop Loss.
Hodling on the other hand doesn't require the use of stop loss. All you need to do is keep the coins in a wallet, set a time to sell and take profits (usually months to a few years), and then sell. You don't need to bother yourself with the price movement between the entry point and the exit point
you can easily opt in to hold because once stop losses been triggered out then theres no way you would able to recover those losses compared when you are just on negative you can still recover if you do just simply
hold.
Stop losses are just relevant into those people who are making active trades and not to the ones who do mind about only on long term holds.
Just curious, do any of you set stop losses and recollect again later? Or do you just HODL regardless of what the dip is.
I believe that depends on what you're doing. If you're trading, then it is advisable that you should use stop Loss. It's about the most effective way one can employ to minimise loss as much as possible. In order to safeguard your capital or asset, then you should use stop Loss.
Hodling on the other hand doesn't require the use of stop loss. All you need to do is keep the coins in a wallet, set a time to sell and take profits (usually months to a few years), and then sell. You don't need to bother yourself with the price movement between the entry point and the exit point
Stop loss is commonly used when you do trading, but actually, I am not into trading because it is really risky for me as I dont have good knowledge about technical analysis, so I am more focused on investing which is really profitable for me, just make sure always that you have invested in good coins so you can assure that you can earn good profit on it, avoid coins that are only pump and dum it won't survive in the long term.
Big boys don't bother using stop loss because the market is always friendly to them in term of their experience in the market and number of years they've been trading. Stop loss is not as important as knowing what you are doing and how to cut your risks if the market tend to dance against you. Not everybody uses stop loss when trading cause it might bring bad luck to some people when used.Their are some of my trades which I don't bother using stop loss because I've already planned my risk and when I intend not to go for a long trade. Like some when I scalp, I don't use stop loss cause it could affect my profits if the market decides to retrace hunting stop by losses before continuation of the current trend. I only use stop by losses when I know the market by is not sure or that okay to ride a trend. I don't also use stop losses when my eyes is in trade.
If your account size is very small, you will encounter alot of stress because your stop losses will always be hit and you lose money. Losing money makes you mentally unstable so you get confused in the market. this is the worst thing that will happen to a trader
The best to trade only if you have enough time and effort so you can have your eyes directly whenever you need to activate your trading portfolio .There are many traders that loves to use Stop Loss but they don't really know whats the outcome because they had been told to use but not how to and what to.
Just be ready to Keep holding if you fail so there are no literal loss but only a waiting time.
I trade a lot of coins during a bull run and during those times I use it to make sure if I lose the track of a few coins, I don't end up paying it with my wallet, at least not by too much.
Lots of traders often criticize stop loss function because it takes away the possibility of recovery but I don't know if even 10% of coins that go down ever recover unless a certain Elon Musk is sitting behind to help it.
It depends on what I am actually doing. If it is day trading, then I think stop loss is very important to use in a situation like this, so that you’re not going to be running the risk of losing so much money while you’re trading. As for whenever I am HODL’ing, I don’t really bother about making use of stop loss. But I think you still have to put some things into consideration in a case like this , like for how long you’re going to be holding. If I plan to hold for a very long time and I have it in that I want that coin to reach a particular price before I am ready to sell, then I don’t see the need for it. Lots of traders often criticize stop loss function because it takes away the possibility of recovery but I don't know if even 10% of coins that go down ever recover unless a certain Elon Musk is sitting behind to help it.
If your account size is very small, you will encounter alot of stress because your stop losses will always be hit and you lose money. Losing money makes you mentally unstable so you get confused in the market. this is the worst thing that will happen to a trader
Stop loss is the best strategy to secure yourself from huge loss. It is also very simple to apply stop loss on a trade. Just calculate how much loss you can bear. And then place it at your calculated point. If market goes opposite with your trade then stop loss hits and you will left the market. So this is a very useful tools in trading.
Trading is not for everybody but at the same time we should put in enough efforts and practice a lot to learn to trade correctly.
Yes we do lose our money in the beginning due to our mistakes but we only learn when we make mistakes.
This is why we should not put huge money in the beginning. Start with a low amount and gradually increase when the profits come in.
Even I had started to trade a few years ago but since I was losing money I took a break and learned more about the analysis and started to trade again recently.
Identifying mistakes and learning from it the best strategy IMHO.
I understand it and if you are really adamant about learning and becoming a good trader then you should do it, some people are good in math while others suck at it and same goes for trading as well because there is so much math in trading as well.Yes we do lose our money in the beginning due to our mistakes but we only learn when we make mistakes.
This is why we should not put huge money in the beginning. Start with a low amount and gradually increase when the profits come in.
Even I had started to trade a few years ago but since I was losing money I took a break and learned more about the analysis and started to trade again recently.
Identifying mistakes and learning from it the best strategy IMHO.
I know people who have hard time calculating what is 8x6 and those people can't become traders, doesn't matter how hard they try or how much they study because they lack the main principals requires to be a trader. What I said about buying and holding is for those people, people like me and yeah I do know math a bit more than the example, but I am still not even decent at all and that is why I just buy and hold.
If you know what you are doing, have some math, have some patience, and a bit of money to spend for learning then you can become a decent trader by studying hard, but if you are like me, even after 8 years in crypto I fail at trading so it is not really advised.
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