First of all, you should calm down and analyze the current situation. What was the coin on which you lost money? Why did you lose it?
Then look at binance trading and choose a coin which is quite famous as well as traded a lot. Ripple will probably go down, as it's up too much. Ethereum is experiencing the same thing. That's why I advice you to put the money in bitcoin cash and wait for short-term profit of about 20%. Then choose some other coin (for example, ripple after it goes down) and wait for a small profit as well. Just don't be greedy and take it slow.
Topic: stop losses - how to do (Read 186 times)
surely in your trading, you may lost money so you want to stop losses but i have to admit you may not avoid from it, if you can not predict exactly when the price rise or drop, loosing it is inevitable, we can only learn from our experiences and try our best next times.
Stop loss is a double edged sword. Sometimes your target might hit and would suddenly bounce off to peak this will result you in loss.
Try to learn how to use stop loss effectively
Here is a step by step video guide:
https://www.youtube.com/watch?v=cvPUX_K2NTs
Try to learn how to use stop loss effectively
Here is a step by step video guide:
https://www.youtube.com/watch?v=cvPUX_K2NTs
i wanna set stop losses on binance , but the problem is i wanna do related to usdt but most are only available vs eth or btc
how do you do SL as if BTC swings wildly then as well as the coin in question its not that big a change related to fiat ?
You can easily build a bot that can do trades for you, you can also purchase it or even build it from Imacro.how do you do SL as if BTC swings wildly then as well as the coin in question its not that big a change related to fiat ?
i wanna set stop losses on binance , but the problem is i wanna do related to usdt but most are only available vs eth or btc
how do you do SL as if BTC swings wildly then as well as the coin in question its not that big a change related to fiat ?
You can easily build a bot that can do trades for you, you can also purchase it or even build it from Imacro. how do you do SL as if BTC swings wildly then as well as the coin in question its not that big a change related to fiat ?
You can't. It's not in your hand. But what you can do is reduce your losses and if you ever have a loss, analyse the situation and draw conclusions that where you went wrong. And before investing just do a lot of research on that particular project, the team behind it, Their motive, EVERYTHING. That'll reduce the chances of a loss. And It's trading you cannot completely STOP LOSSES, you can definitely minimize them but never can completely stop them. As there are sometimes drastic increase or decrease in a coin and that's just sometimes unpredictable.
Before investing research a lot and only if you believe in that coin, then only invest!
So, If ever there is a low graph of a coin that you invested in, have patience and keep believing so that you don't rush things up and come to a wrong decision!
Before investing research a lot and only if you believe in that coin, then only invest!
So, If ever there is a low graph of a coin that you invested in, have patience and keep believing so that you don't rush things up and come to a wrong decision!
Need to go to coin in a right way. At 90% of stop losses my coins where taken by the wails to pump) But in 10% it helped me to avoid of loosing everything) Count your risk ratio what to lose/what to gain. Also it hardly depends from a coin. Some coins making +10/20% in 1 candle and 100% u will be stop losted) But in BTC this not so high.
Stop loss is a must but sometimes you dont get a chance to book your loss. At this time one must follow the technical analysis just to keep things in balance.
I think you can set a stop loss but to cover increased values in BTC, ETH etc, but you may need to take more of a risk like 15 - 18% and then probably reset it at least once a day.
Get a lot of usdt ready in you account, and when the price of btc or eth jumps, just buy them, the market will not die.
Stop loss may seem like good but also they are very risky, you can lose all your coins remember coinbase incident.
also be aware of 'stop loss hunting' by whales ... I got burned a coupled of times by this: they take your stop-loss out and booom they shoot up again :/
Stoplosses requires a deep technical analysis,you need to know what do you want to risk? normally i stoplosses 7-10% from the price a i bought the coin and if thats a bull run you need a trailing stop losses to have more gains it requires timing.
i wanna set stop losses on binance , but the problem is i wanna do related to usdt but most are only available vs eth or btc
how do you do SL as if BTC swings wildly then as well as the coin in question its not that big a change related to fiat ?
how do you do SL as if BTC swings wildly then as well as the coin in question its not that big a change related to fiat ?
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