The psychology of stoploss | Bitcointalksearch.org

wxa7115

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Quote from: markdario112616 on October 13, 2021, 11:04:53 AM

This is one of the best tools out there, and one of the easiest thing to learn but the hardest to implement. Well to be honest, I'd find it very challenging at first. I've struggled a lot in terms of trying to use the stoploss. But the fact I'm eager to regain my losses it turned out to be a disaster. After that I'd humbly surrender to it, I practiced stop loss for months fighting of frustrations and everything. But yeah bottom line is that no matter how good you are, we may still encounter even one mistake and all will crash. So yeah learn not to trade with emotions that will surely be not a good idea.

This is exactly why we use a stop loss, no trader is perfect and it does not matter how good you are eventually you will make a mistake, now you may be lucky and the market does not go strongly against your prediction and you lose only a small amount of money.

However what if your prediction was completely wrong and a huge movement begins to take place against your prediction? That single mistake can be more than enough to lose weeks, months or even years of efforts, and a stop loss is there to act as your safety net so this does not happen to you.

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Simply you can understand from the name of stop loss, that it means you can stop your more loss by applying it , in other words I can just say that this will be more profitable for the traders, who are mostly involve in the day trading and doing their trading mostly in less time and want to get more and more profit at that time they can use stop loss, which can help.

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This is one of the best tools out there, and one of the easiest thing to learn but the hardest to implement. Well to be honest, I'd find it very challenging at first. I've struggled a lot in terms of trying to use the stoploss. But the fact I'm eager to regain my losses it turned out to be a disaster. After that I'd humbly surrender to it, I practiced stop loss for months fighting of frustrations and everything. But yeah bottom line is that no matter how good you are, we may still encounter even one mistake and all will crash. So yeah learn not to trade with emotions that will surely be not a good idea.

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Quote from: wxa7115 on October 12, 2021, 03:14:24 PM

Quote from: TelolettOm on October 06, 2021, 06:30:10 PM

I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading

It is great that you do not find this challenging but believe me many people do not like to use a stop loss, they feel their potential profits could go down by the use of a stop loss and in a way they are not wrong.

However trading is not only about maximizing your profits, trading is also an exercise on resource management, and since our capital is limited if we trade as if it is infinite sooner or later it will run out, a stop loss is there to protect you from this ever happening and as such it is an invaluable tool in the arsenal of any trader.

Even myself doesn't really make use of stop loss because it isn't really much needed if you aren't really making out active trades or simply stick with long term or swing trades.

But doesn't mean that it would be just good for short term or active trades but this stoploss is really situational so it would really vary if someone would really be needing

on using this tool so its up to someones intellect and experience on how they could handle themselves well on this market.

wxa7115

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Quote from: TelolettOm on October 06, 2021, 06:30:10 PM

I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading

It is great that you do not find this challenging but believe me many people do not like to use a stop loss, they feel their potential profits could go down by the use of a stop loss and in a way they are not wrong.

However trading is not only about maximizing your profits, trading is also an exercise on resource management, and since our capital is limited if we trade as if it is infinite sooner or later it will run out, a stop loss is there to protect you from this ever happening and as such it is an invaluable tool in the arsenal of any trader.

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As for me, this tool allows a trader to be more confident in the result of work, even in the event of any mistake in the process of work.

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Quote from: tvplus006 on October 11, 2021, 04:16:00 AM

Yes, it is impossible to trade with leverage without stop loss, otherwise you may lose your deposit due to circumstances independent of you. For example, if you opened an order and did not set a stop loss and an accident occurred at the same moment, which resulted in your equipment becoming inoperable during a dump or pump on the market.

It is possible, why not?

But if you don't use stop loss orders, you are not smart. Without stop loss, your position can be very negative and liquidation will be triggered. Your collateral will be liquidated and switched to the wallet of exchange. It won't disappear but only change the ownership, from you to that exchange.

If a trader does not understand psychology of market and capital flow in the market, it is best to not use leverage.

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Quote from: shield132 on October 10, 2021, 04:02:48 AM

...But if you use leverage trading, stop-loss is mandatory in absolutely any case since it's a very, very risky the higher the leverage gets.

Yes, it is impossible to trade with leverage without stop loss, otherwise you may lose your deposit due to circumstances independent of you. For example, if you opened an order and did not set a stop loss and an accident occurred at the same moment, which resulted in your equipment becoming inoperable during a dump or pump on the market.

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Quote from: jackg on September 24, 2021, 08:52:21 AM

I've started using alerts instead of a stop loss because people keep mentioning about market manipulation on exchanges and I've been trying to protect myself against that more recently. I'm also one for setting a stop loss that isn't too far away from where the price will rebound up and fulfill my take profit so that's another reason against setting one - though I should probably just set it where I think it's really unlikely to get triggered.

+1
It's what I am doing too, I am using multiple alerts on certain rises and falls because the market is sometimes so manipulative that it falls and immediately rebounds. If you are a long-term trader and don't open short contracts on futures trading + trade with more matured coins, then I think alerts will meet your case.

But when you trade frequently, I think it's better to set stop-loss and use it anyway, it's better than to regret. Sometimes the loss will rebound immediately and sometimes it may take weeks.

But if you use leverage trading, stop-loss is mandatory in absolutely any case since it's a very, very risky the higher the leverage gets.

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Quote from: tvplus006 on October 04, 2021, 03:06:24 PM

Quote from: palle11 on September 24, 2021, 08:44:42 AM

...One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed...

You cannot use stop loss if you do not have the skills to trade and do not have a trading strategy. A small loss at a stop loss will be only if you open an order in a long position from support or a short position from resistance. Thus, it is necessary to compare the risks and profits from the expected transaction.

You're right, when I was starting in the world of trading it always happened to me that when I reached the stop loss, I didn't take it and what I did was keep losing and losing, I had to go out to the Market, and the loss was worse, then I realized I had to understand well how it worked, how it was put on and under what conditions, of course this happened to me because I was doing things fast and not having traded with play money.

Now when I trade, the first thing I do is set my Stop Loss, whatever it is is my first step for everything.

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Quote from: Natalim on October 06, 2021, 04:41:18 PM

...If you put a stop loss 10% down from the price you bought it, then you are limiting your loss not more than 10%. Still, i don't understand why most of traders forget to set a stop loss where in fact, it's one way of avoiding more losses and just maximize your expected profits...

A common practice is to set a stop loss for margin trading and this is due to the fact that you can easily lose your deposit. But even in cases when the market is very volatile, no stop loss is set, as your order will be closed quickly. But if you don't set a stop loss, then you can't move away from the terminal and sleep peacefully.

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I don’t have any problem with making use of stop-loss when it comes to trading, I think it is quite useful when you are making use of it because you are able to limit your losses to an extent. Now it is all up to you to decide how much that your loss will reach before the stop-loss tool will cut it from going further.

For those people that are complaining that it keeps putting them out from trade and making them miss opportunity, I think they have to understand that stop loss was created to help you stop your loss and not to help you make enemies, now it is all up to you to be around at least and make sure that you are checking what is happening on your trade, and when things are not going the right way you can correct them immediately.

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We always trade with profit and stop loss when we open the trade because the market often moves in huge quantities, if you are not in the market and if the market goes against you, your balance will not take time to run out many of us trade part time. Can't stay close to the trade seen at many important times. As such, it is much better to set up TechProfit but I am not in favor of setting staples. I trade small lots, analyze, trade big charts so I don't need stops.

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Quote from: sumant on September 26, 2021, 05:39:04 AM

The psychology of stoploss is to prevent trader fund from big loss or not wait long months to recover. It is very important in trading to play safe and smart game. Without stoploss anything can happen to your trade. Crypto market is very volatile it can dump to any level. When you use stoploss you will out from trade and not getting in panic for many months.

I'm one of the trader in that stop-loss boat, I hardly make of it because most of the time, it's either I'm glued to the computer or I'm with my phone checking out market market movements and whenever I see that the movement isn't going as planned, I exit the market which is very bad.

The market volatility has drastically reduce compared to. When btc was below $10k, I once a victim of that when my stop-loss never trigger despite reaching the limit, I had to stop the limits and I was lucky the market was bought very fast to my entry position which I just glady exited my self. This is why it's always better to set it a little bit below where you want it.
Stop-loss is very essential in trading and risk management.

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

I'm believing that many traders here don't like using stop loss and the reason is just within our first guess, they don't want the stoploss to take them out.

The reason why out stop loss get triggered in most cases because of two main reasons.

1- We do not take entry at at the support level. If the entry is at or near support, there are chances that the coin will only move up from there.

2- We do not know exactly where to put stop loss. We put stop loss so near to our entry price, that it get filled.

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Quote from: SquallLeonhart on October 07, 2021, 03:21:32 PM

Quote from: Mpamaegbu on October 07, 2021, 06:00:12 AM

Every exit or take profit (TP) level is a psychological level the same way every stoploss (SL) level is. Traders are humans subject to emotions the same way platform and exchange owners are. We know of instances of trade manipulations from exchanges and platforms because their owners follow the same psychological levels traders follow.

I wouldn't really compare all three together. Exit means you exit, doesn't mean you make a loss or not, it could be a loss or it could be a profit, it is just exit, whereas TP is literally taking profit, which means it needs to be a profit, when you lose then you can't TP since there is no profit to take, and stop loss (even though it has a loss word in it) doesn't need to be a loss, you could buy at 40k, it could go to 54k then you could put a stop loss at 50k and end up selling it there when it crashes, so overall you made a profit, the loss in there means stop the continuous loss that may happen if it is not stopped, even profit loss included. So all three are not the same thing, there are small differences.

From those terms alone then you could actually tell on what it is, don't make out complicated things just because those terms are just really easy to understand.

Application of those will vary on someones experience and skills.It might be simple as it sounds but making out decision on when it should really be applied on is never been easy.

SL's does have particular or exact time for you to make use off and this is where people do differ.

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Quote from: Mpamaegbu on October 07, 2021, 06:00:12 AM

Every exit or take profit (TP) level is a psychological level the same way every stoploss (SL) level is. Traders are humans subject to emotions the same way platform and exchange owners are. We know of instances of trade manipulations from exchanges and platforms because their owners follow the same psychological levels traders follow.

I wouldn't really compare all three together. Exit means you exit, doesn't mean you make a loss or not, it could be a loss or it could be a profit, it is just exit, whereas TP is literally taking profit, which means it needs to be a profit, when you lose then you can't TP since there is no profit to take, and stop loss (even though it has a loss word in it) doesn't need to be a loss, you could buy at 40k, it could go to 54k then you could put a stop loss at 50k and end up selling it there when it crashes, so overall you made a profit, the loss in there means stop the continuous loss that may happen if it is not stopped, even profit loss included. So all three are not the same thing, there are small differences.

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Quote from: TelolettOm on October 06, 2021, 06:30:10 PM

I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading

Not a preeminent challenge but it's also not one that many people like to set up because stop loss is a criterion of admitting failure, our assets that are growing big will turn small, one more rule in trading is that the loss figure will be symbolic and not officially counted in our assets when we do not have stop setups, more precisely, the losing price is just a number that will be updated regularly, addition and subtraction are daily happenings. Traders hate such a symbolic loss, they love to win and are stubborn about losing, not believing the market will be like that.

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Most of my time is in front of computer, maybe stop loss for me is when i'm sleep. Not want to said that i confident with my trading style, but to be honest amount that i use in future trading is really small, and people maybe laugh at it. But that is time i use stop loss, because when i sleep i can't control market, and for me i prefer to set SL and TP because not want to miss a moment or maybe lose all and get liquidated.

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Never got into trading except when I need to, and then spot markets is just where I go... Although am not averse to setting limit orders very near the spot if I am not in a rush, just really because the fees tend to be a lot better for maker. But when I dabbled in forex in the mid 2000s every order had a stop loss, trailing even if going long. Can't really get why anyone would trade without that safety net.

I do imagine Bitcoin volatility makes it even harder to decide as stop losses that are too tight are liable to hit in any condition.

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Quote from: Alisha FR on September 26, 2021, 04:18:44 PM

but with various market manipulation issues, it makes me less confident in applying stop losses, in fact their effectiveness cannot run normally.

Every exit or take profit (TP) level is a psychological level the same way every stoploss (SL) level is. Traders are humans subject to emotions the same way platform and exchange owners are. We know of instances of trade manipulations from exchanges and platforms because their owners follow the same psychological levels traders follow. For instance, most traders are looking at $100,000 as the next strong resistance level for Bitcoin. With that, you will see a lot of them selling off around that level even if it seems that price could break it at once. If there are going to be traders who will want to short from that level with SL placed slightly above that level could've their SL hit too if it spikes around there, either by genuine price action (PA) or exchange manipulation. The wise thing to do is to allow one's SL breathe by giving it a wide margin while placing it. Don't place your SL close to any psychological level. Space it, and you will be fine.

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Quote from: awik p on October 07, 2021, 03:28:45 AM

Quote from: TelolettOm on October 06, 2021, 06:30:10 PM

I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading

I think it depends on our trading period, if we are trading long term, I don't think that using stop losses is also not a problem, but for short term daily trading, I think stop losses are mandatory, because we only take advantage of the narrow space to look for opportunities to profit from there

In order to use a stop loss, a trader must change psychologically, accepting the fact that in addition to profitable trades, there will necessarily be unprofitable ones. In any case, it is better to get a small loss and open an order at a better price than just waiting for the price to return to its original values.

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Quote from: TelolettOm on October 06, 2021, 06:30:10 PM

I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading

I think it depends on our trading period, if we are trading long term, I don't think that using stop losses is also not a problem, but for short term daily trading, I think stop losses are mandatory, because we only take advantage of the narrow space to look for opportunities to profit from there

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I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly).
And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading

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Quote from: Natalim on October 06, 2021, 04:41:18 PM

Quote from: milewilda on October 04, 2021, 03:18:38 PM

Quote from: tvplus006 on October 04, 2021, 03:06:24 PM

Quote from: palle11 on September 24, 2021, 08:44:42 AM

...One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed...

You cannot use stop loss if you do not have the skills to trade and do not have a trading strategy. A small loss at a stop loss will be only if you open an order in a long position from support or a short position from resistance. Thus, it is necessary to compare the risks and profits from the expected transaction.

True, you wouldnt really able to understand on how stop loss works if you dont really have any idea on what you are doing.This isnt something an indicator that you could just place up and then
just make it work because there would be guidelines on when and how or where you should place those SL's and wont be making out some movements which are way too careless because
stop loss is something that is needed for you to place on on specific time and according on the risk that you could able to bare off.

Using of stop loss will never meet its own goal if the trader alone does not know how it works and how it is even useful. Stop loss is designed to limit an investor's loss on a security position. If you put a stop loss 10% down from the price you bought it, then you are limiting your loss not more than 10%. Still, i don't understand why most of traders forget to set a stop loss where in fact, it's one way of avoiding more losses and just maximize your expected profits. This will help you to carry out your losses knowing trading won't make you a gainer without experiencing losses.

Its just common sense that it do like on something a tool but you dont know on how to use it then its really no sense at all.Im even sure that lots of traders doesnt really know about stop loss but i cant really blame them off because most of the time when people do make out spot trades and whenever they do lost up their positions they do tend to hold and not tending to cut loss which why these indicators are really not much known
on every trader because there's a specific type which a trader do commonly use on certain conditions.

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

So what is your challenge to using stoploss?

I am always using stop loss on my trades because I am a day trader and scalping trader, I trade crypto, stocks, and a little bit in forex (still learning). It was a challenge for me to use stop loss at the beginning because I thought I would lose a lot of profit if a fake move appeared and touch my SL target, but now I am using stop loss because sometimes I will have other works to do apart from trading, so the SL will help me to protect my money.

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Quote from: milewilda on October 04, 2021, 03:18:38 PM

Quote from: tvplus006 on October 04, 2021, 03:06:24 PM

Quote from: palle11 on September 24, 2021, 08:44:42 AM

...One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed...

You cannot use stop loss if you do not have the skills to trade and do not have a trading strategy. A small loss at a stop loss will be only if you open an order in a long position from support or a short position from resistance. Thus, it is necessary to compare the risks and profits from the expected transaction.

True, you wouldnt really able to understand on how stop loss works if you dont really have any idea on what you are doing.This isnt something an indicator that you could just place up and then
just make it work because there would be guidelines on when and how or where you should place those SL's and wont be making out some movements which are way too careless because
stop loss is something that is needed for you to place on on specific time and according on the risk that you could able to bare off.

Using of stop loss will never meet its own goal if the trader alone does not know how it works and how it is even useful. Stop loss is designed to limit an investor's loss on a security position. If you put a stop loss 10% down from the price you bought it, then you are limiting your loss not more than 10%. Still, i don't understand why most of traders forget to set a stop loss where in fact, it's one way of avoiding more losses and just maximize your expected profits. This will help you to carry out your losses knowing trading won't make you a gainer without experiencing losses.

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

I'm believing that many traders here don't like using stop loss and the reason is just within our first guess, they don't want the stoploss to take them out.
In my own situation , I also didn't like that idea of getting to loss to stoploss but my orientation have changed towards that because stop loss is better used than not to be used. One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed. If you are in the habit of readjusting your stoploss and take it further, you can stop that because the price can chase you there

For newbie traders and more experienced traders, I do also believe you having the dilemma of using or not using stoploss especially when it takes you out frequently but to such, the problem may be with your trading strategy and not stoploss.

So what is your challenge to using stoploss?

That is the main reason people do not want to use a stop loss, they make a trade and then once it hits the stop loss it gets you out of the market and then it goes above it once again and people get mad that their trade was closed with a loss, as people not only care about the money they make but they also care about their winning rate.

However the problem is that while in many occasions the price of the asset you are trading will recover and go above the stop loss, there are some instances in which the price will keep crashing and now a loss which could have been small now it is way larger than that, and now your capital has suffered a damage so big that it is fair to wonder if it will ever recover.

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Stop loss usage has been quite popular especially among traders that combined daily job with trading schedule. Stop loss should be used if you are not going to stay at monitoring your trades. It's however important to note that during high traffic be it bull or bear market, stop loss can fail and this should be factored in to the using of stop loss!

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Quote from: tvplus006 on October 04, 2021, 03:06:24 PM

Quote from: palle11 on September 24, 2021, 08:44:42 AM

...One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed...

You cannot use stop loss if you do not have the skills to trade and do not have a trading strategy. A small loss at a stop loss will be only if you open an order in a long position from support or a short position from resistance. Thus, it is necessary to compare the risks and profits from the expected transaction.

True, you wouldnt really able to understand on how stop loss works if you dont really have any idea on what you are doing.This isnt something an indicator that you could just place up and then
just make it work because there would be guidelines on when and how or where you should place those SL's and wont be making out some movements which are way too careless because
stop loss is something that is needed for you to place on on specific time and according on the risk that you could able to bare off.

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

...One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed...

You cannot use stop loss if you do not have the skills to trade and do not have a trading strategy. A small loss at a stop loss will be only if you open an order in a long position from support or a short position from resistance. Thus, it is necessary to compare the risks and profits from the expected transaction.

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Quote from: nur rochid on September 27, 2021, 01:02:29 AM

Quote from: Viscore on September 26, 2021, 06:15:09 PM

Quote from: Fatunad on September 26, 2021, 05:56:17 PM

Stoploss is just good when you are just making out some short trades or you do actively dealing with the price in the market but if its not then you would definitely not needing this.
You could eventually tell when you are on the situation where it is really that suitable for you to use or not but on that case then it would really be not much needed
so it does depend on you because you are the ones would really be able to tell if its significant for you or not.

Well, its really up to us if we will use stoploss or the other way around. Some active traders are not even using this because they are more on alerts that will give significant prices on the market. They know exactly when to buy and sell. But honestly, i still prefer to use stoploss because its a very helpful tool for us active traders that we can prevent from losing such a huge amount. If we think the prices are already not bearable for us, then maybe we should start setting stoploss.

For professional traders whose job is trading, I think that even if they don't set a stop loss, of course they will use a manual cutloss, because they have a lot of time to monitor the market. and when using a stop loss, they will place a distance from the lowest support, thus giving the market room for movement, because the market habit is to just grab the stop loss and then reverse direction

Personally I monitor my trades and have a virtual form of stop loss once the price reach the zone I manually close the trade likewise a virtual and calculated Take Profit, I agreed with the OP that stop loss is very important tool to reduce risk, it help traders a lot to cut losses of course prices of cryptocurrencies are very be volatile portfolio can be liquidated very fast if not Stop lossed appropriately traders who chooses not to use it does so with experience, I don't think it advisable for a newbie trader not to use a stop loss.

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Quote from: Viscore on September 26, 2021, 06:15:09 PM

Well, its really up to us if we will use stoploss or the other way around. Some active traders are not even using this because they are more on alerts that will give significant prices on the market. They know exactly when to buy and sell. But honestly, i still prefer to use stoploss because its a very helpful tool for us active traders that we can prevent from losing such a huge amount. If we think the prices are already not bearable for us, then maybe we should start setting stoploss.

There is no harm in using stop loss, it’s safety net we can do as we do not know when will the market fall or up how much we can see our investment fall. It’s much better to use stop loss than regret not using it in the end. For so many times I regretted not setting up stop loss due t the fact I monitor the market every now and then,but there will be really a point where the market is too volatle and you can’t do anything about it. It's an option which sometimes can help us alot especially if were not that pro in trading.

Phrahm

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If you have extra funds and you do not mind losing them, then, of course, you can trade where the stop loss is, but for those who came to earn, I believe these are necessary functions.

pelumi20

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It is highly irresponsible for any trader to trade without a stop loss. Because you don't have a specific amount you are risking per trade and what happens to your whole equity in a black swarm kind of market? You lose all your money. Stop loss protects your trading capital, absence of it is nothing but gambling.

nur rochid

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Quote from: Viscore on September 26, 2021, 06:15:09 PM

Quote from: Fatunad on September 26, 2021, 05:56:17 PM

Stoploss is just good when you are just making out some short trades or you do actively dealing with the price in the market but if its not then you would definitely not needing this.
You could eventually tell when you are on the situation where it is really that suitable for you to use or not but on that case then it would really be not much needed
so it does depend on you because you are the ones would really be able to tell if its significant for you or not.

Well, its really up to us if we will use stoploss or the other way around. Some active traders are not even using this because they are more on alerts that will give significant prices on the market. They know exactly when to buy and sell. But honestly, i still prefer to use stoploss because its a very helpful tool for us active traders that we can prevent from losing such a huge amount. If we think the prices are already not bearable for us, then maybe we should start setting stoploss.

For professional traders whose job is trading, I think that even if they don't set a stop loss, of course they will use a manual cutloss, because they have a lot of time to monitor the market. and when using a stop loss, they will place a distance from the lowest support, thus giving the market room for movement, because the market habit is to just grab the stop loss and then reverse direction

Viscore

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Quote from: Fatunad on September 26, 2021, 05:56:17 PM

Stoploss is just good when you are just making out some short trades or you do actively dealing with the price in the market but if its not then you would definitely not needing this.
You could eventually tell when you are on the situation where it is really that suitable for you to use or not but on that case then it would really be not much needed
so it does depend on you because you are the ones would really be able to tell if its significant for you or not.

Well, its really up to us if we will use stoploss or the other way around. Some active traders are not even using this because they are more on alerts that will give significant prices on the market. They know exactly when to buy and sell. But honestly, i still prefer to use stoploss because its a very helpful tool for us active traders that we can prevent from losing such a huge amount. If we think the prices are already not bearable for us, then maybe we should start setting stoploss.

Fatunad

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Stoploss is just good when you are just making out some short trades or you do actively dealing with the price in the market but if its not then you would definitely not needing this.
You could eventually tell when you are on the situation where it is really that suitable for you to use or not but on that case then it would really be not much needed
so it does depend on you because you are the ones would really be able to tell if its significant for you or not.

Slow death

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Stop - Loss is something very important, just see how the volatility of the crypto market is high, there are times when the price drop gets so high in just minutes and doesn't recover soon. that is why it is always important to use Stop - Loss. in my case, I only use it when I buy and put it next to the support, in case it falls below the support, I minimize the losses

Myleschetty

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Quote from: Alisha FR on September 26, 2021, 04:18:44 PM

Stop loss is part of risk management, but with various market manipulation issues, it makes me less confident in applying stop losses, in fact their effectiveness cannot run normally. Experienced traders do not make stop loss as the main management to minimize risk. And some of the other strategies they use are based on an analysis of how market forces tend to rise and also based on the laws of the market.

It is difficult to know if experience traders don't use stop loss as their main management to minimize risk because every trader have its strategy use in making a trading conclusion but I don't like the stop loss idea but it is a good strategy a trader must put in place after study to understand the market possible trend.

Alisha FR

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Stop loss is part of risk management, but with various market manipulation issues, it makes me less confident in applying stop losses, in fact their effectiveness cannot run normally. Experienced traders do not make stop loss as the main management to minimize risk. And some of the other strategies they use are based on an analysis of how market forces tend to rise and also based on the laws of the market.

palle11

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Quote from: jaberwock on September 26, 2021, 03:11:18 PM

People have not been able to give me any good enough reason as to why they shouldn’t use stop-loss.

I will let you know that, it is simply because they don't want to lose with stoploss. This is the real reason and it is simple.

Quote from: jaberwock on September 26, 2021, 03:11:18 PM

People who don’t make use of stop-loss usually say it’s because they don’t want to miss the market quick comeback after a slight down movement which I think is not enough reason for you to not make use of a stop-loss when you’re trading.

This excuse is funny. You can activate stoploss even after you have made trading, you can go back to the order and activate it but the problem is the market volatility can hit that order just immediately you went in .

Quote from: jaberwock on September 26, 2021, 03:11:18 PM

Unless you’re going to be there watching your trade, if not then you’re meant to be using a stop-loss.

No that is a bad pratice. You may not be fast to executive the stoploss. Sometimes you have network challenges.

jaberwock

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

For newbie traders and more experienced traders, I do also believe you having the dilemma of using or not using stoploss especially when it takes you out frequently but to such, the problem may be with your trading strategy and not stoploss.

Stop-loss is important when you’re being a trader. People have not been able to give me any good enough reason as to why they shouldn’t use stop-loss. People who don’t make use of stop-loss usually say it’s because they don’t want to miss the market quick comeback after a slight down movement which I think is not enough reason for you to not make use of a stop-loss when you’re trading.

Unless you’re going to be there watching your trade, if not then you’re meant to be using a stop-loss. There is a reason why these tools were made and they shouldn’t be neglected for anything, they can be helpful at times you least expected it to.

sumant

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The psychology of stoploss is to prevent trader fund from big loss or not wait long months to recover. It is very important in trading to play safe and smart game. Without stoploss anything can happen to your trade. Crypto market is very volatile it can dump to any level. When you use stoploss you will out from trade and not getting in panic for many months.

GreatArkansas

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

(...)
So what is your challenge to using stoploss?

Having no risk management in trading will get you rekt. Stoploss is one of the best ways to have good risk management.
Think about your stop loss as your saviour, your superhero.
It's much better to lose 10% than losing 50% or more, or worst is liquidation (lost them all)

Wexnident

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I completely removed the idea of profiting more tbh. I try to adjust my goals to what is realistic, one that I'm very much sure I can achieve in that single trade. Most stop losses I've done was to stop myself from losing against dips and that's it. I don't bother rebuying even when my stop loss gets triggered, I just wait and see what happens then proceed to determine if I should enter or not. It's a rather great tool to have tbh, it's just mostly up to your capabilities on whether it's actually used to its fullest.

palle11

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Quote from: lovemycar on September 26, 2021, 01:23:27 AM

The bottom line for my stop loss is 20% of the principal. Stop loss is the basic strategy of regular trading. In the final analysis, it is still desire. If you are greedy enough, I'm sorry, stop loss is not for you, and the one that suits you is Stud.

Lol bro but 20% is way far too much for a stoploss on a single market order. It means you have just splitted your account into 5 places and what happens when you trade the 4th time and lose at a roll? Panic gets into you to trade the fifth time because of the fear of not coming out of it. I have traded with a lot spaced for stop loss because I was scared or didn't like my stop loss to take me out, I even extended and shifted it and yet the price takes me out.

Just identify the trend and if you go with it, you just need a tight stop loss incase of spike. I can suggest like a percent of your balance to stop loss and you see it is a scratch of your account that will be lost if it is against you. Good luck.

lovemycar

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The bottom line for my stop loss is 20% of the principal. Stop loss is the basic strategy of regular trading. In the final analysis, it is still desire. If you are greedy enough, I'm sorry, stop loss is not for you, and the one that suits you is Stud.

molsewid

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Quote from: bunglor on September 25, 2021, 09:46:27 PM

Stoploss was a safety net if anything happened in the market usually the market is really volatile and as a trader it is my responsibility to take care of my profit. The only challenge in stop-loss I'm thinking of is that when the market just dip to your stop loss and go back to its main trend that happened to me multiple times and of course bullish and bearish traps.

But stoploss was really simple but really effective tool in trading.

In my early days as a trader I didn't know how to use the stoploss strategy like one of my worst case scenario was that the project was seem good at the start and I put an amount of money on the project but only few days past the market of the project begun to crash but I do hold on to the thought that the project could recover but ended up I'm losing my money. My friend suggested me to use the stoploss strategy to cut the future losses but I didn't listen to him and my money ended up halve the value has been lost. From that time on I do realize the importance of using the stop loss strategy.

tbct_mt2

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Quote from: bunglor on September 25, 2021, 09:46:27 PM

Stoploss was a safety net if anything happened in the market usually the market is really volatile and as a trader it is my responsibility to take care of my profit. The only challenge in stop-loss I'm thinking of is that when the market just dip to your stop loss and go back to its main trend that happened to me multiple times and of course bullish and bearish traps.

Stop loss order only works if the market does not crash too quickly and exchanges don't have technical or connection problems. If cascade effects occur too seriously with crashes, stop loss orders can not help.

You have to use another order, Stop limit order.
What is a stop limit order

Quote

But stoploss was really simple but really effective tool in trading.

Stop loss or other orders are simple if you understand it.

bunglor

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

I'm believing that many traders here don't like using stop loss and the reason is just within our first guess, they don't want the stoploss to take them out.
In my own situation , I also didn't like that idea of getting to loss to stoploss but my orientation have changed towards that because stop loss is better used than not to be used. One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed. If you are in the habit of readjusting your stoploss and take it further, you can stop that because the price can chase you there

For newbie traders and more experienced traders, I do also believe you having the dilemma of using or not using stoploss especially when it takes you out frequently but to such, the problem may be with your trading strategy and not stoploss.

So what is your challenge to using stoploss?

Stoploss was a safety net if anything happened in the market usually the market is really volatile and as a trader it is my responsibility to take care of my profit. The only challenge in stop-loss I'm thinking of is that when the market just dip to your stop loss and go back to its main trend that happened to me multiple times and of course bullish and bearish traps.

But stoploss was really simple but really effective tool in trading.

michellee

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Quote from: samcrypto on September 25, 2021, 08:08:05 AM

Quote from: michellee on September 25, 2021, 07:37:43 AM

Using stop-loss or not will depend on how your analysis. If you think that the price will go down too deep, you can use a stop loss at a certain level so you can prevent the big loss. If you can monitor your trade, you can analyze more to find more info so you can determine to use stop loss or not. Stop-loss can be used based on the market situations, so with more analysis, that will be necessary to use stop loss or still analyze the market to see where the price will go.

It will always depend on that, I personally don't have stop loss level on Bitcoin because I know its more safe to hold on it than to sell it our of panic. Though I have a different approach on my trading activities, stop loss for me are very important in my short term trading, it allows me to minimize my losses and then look for other opportunity to buy. If there's no stop loss every time you trade, how can you know when to exit the market? for me this is very important in trading.

If that is about bitcoin trading, I prefer to hold than to sell like you. Besides that, when I buy bitcoin, I do not go all in so when the price is down a lot, I still have money and can buy more bitcoin. Maybe stop loss works in short-term trading such as hourly or daily trading as the price can move anywhere. Yes, stop loss is very important but that depends on how you trade. But sometimes, we are late to apply the stop loss so we only see a loss after selling the coin.

RealMalatesta

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Quote from: so98nn on September 25, 2021, 04:10:19 AM

Yeah this is good piece of advice actually. On the contrary it’s better to either option to use it or you just forget about it completely. Stop loss is life saver in many situations but peeps don’t make use of it in correct way. What I mean is, they will always think they can gain the profit again if the trade has stopped at loss. This means they will re-buy the asset immediately and in the hyper mood. That’s ain’t right and that’s not perfect use of stop loss. The method is used in the first place so that we can control ourselves from overtrading and also controlling the losses. But anyways it always goes to the South Pole. Lolz

Unfortunately it is not the most basic way of trading and that is why people keep forgetting about it. If anyone in the world realized that it is as simple as the buy/sell method and it is just few clicks then they would have used it as well but there are too many people who end up not using it properly and that is mainly because they do not know how to or they never tried to.

Anyone who realizes how good it is and tries it for the first time will end up using it for a long time for sure. I am not saying that people are not smart about using it, they are smart enough to use it, but they just do not check it as the first thing, after checking it, almost everyone uses it.

Mpamaegbu

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

If you are in the habit of readjusting your stoploss and take it further, you can stop that because the price can chase you there

So what is your challenge to using stoploss?

But of course, most often price still runs us to that point and closes us in loss. It's a sad reality and that's because a lot of traders don't like seeing red and would struggle to prevent that loss in futility. If only a lot more traders understand that trading is about profit and loss, some of these stuff will change. Most traders easily understand that part of profit and loss when it comes to conventional and traditional trading but refuse to apply it to online trading. I've been a victim of this too. I think if traders will up their Money Management (MM) skills and reduce their leverage or trading lot, they should be fine finding a good SL position that won't be easily hit by making it an elaborate distance.

samcrypto

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Quote from: michellee on September 25, 2021, 07:37:43 AM

Using stop-loss or not will depend on how your analysis. If you think that the price will go down too deep, you can use a stop loss at a certain level so you can prevent the big loss. If you can monitor your trade, you can analyze more to find more info so you can determine to use stop loss or not. Stop-loss can be used based on the market situations, so with more analysis, that will be necessary to use stop loss or still analyze the market to see where the price will go.

It will always depend on that, I personally don't have stop loss level on Bitcoin because I know its more safe to hold on it than to sell it our of panic. Though I have a different approach on my trading activities, stop loss for me are very important in my short term trading, it allows me to minimize my losses and then look for other opportunity to buy. If there's no stop loss every time you trade, how can you know when to exit the market? for me this is very important in trading.

fullhdpixel

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

For newbie traders and more experienced traders, I do also believe you having the dilemma of using or not using stoploss especially when it takes you out frequently but to such, the problem may be with your trading strategy and not stoploss.

I do believe only beginners in trading must be having dilemma about stoploss levels but experienced traders definitely will go for it so that they could safeguard their hard earned capital. Still I agree with you, most beginners ignore the importance of using stoploss but over the time they slowly learn and then start making use of it.

Moreover when you are having a well tested strategy and that is capable of tackling all kind of market fluctuations to help you to predict and to trade along with the direction of market then definitely you will never need to go for stoploss levels and even you put stoploss orders which may never get triggered.

michellee

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Using stop-loss or not will depend on how your analysis. If you think that the price will go down too deep, you can use a stop loss at a certain level so you can prevent the big loss. If you can monitor your trade, you can analyze more to find more info so you can determine to use stop loss or not. Stop-loss can be used based on the market situations, so with more analysis, that will be necessary to use stop loss or still analyze the market to see where the price will go.

semobo

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Stop loss is really a great feature for an occasional trader who is not going to look into the price chart all the time because they are busy with their other job(s), since it is going to save them from huge loss when there is a sudden red trend in the market but one who is doing day trading can avoid it because it will disturb their actual trading habits.

Zilon

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Quote from: palle11 on September 24, 2021, 08:44:42 AM

So what is your challenge to using stoploss?

When I choose to scalp I hardly use stop losses and most time I just stay at the mercy of the market but when ever I choose to hold on to a position for a longer Period of time I apply stop loss. Stop loss can be helpful but a times it kicks one out of a trade too early and after triggering my stoploss it begins its move towards my analyzed direction and this alone can be so frustrating

Ararbermas

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stop loss is very useful in my personal opinion but for other traders they don't see it good to have such technique when it comes trading. I dont know why maybe they all have a plenty of time to monitor their trades wherien in order to keep it safe as well.. And probably it's true that stop loss is for those busy person only to avoid masive losses from the volatility.. Indeed sometimes there are some traders who used bots when it comes stop loss. So we need to understand that it's depends what people's like when it comes trading.

so98nn

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Yeah this is good piece of advice actually. On the contrary it’s better to either option to use it or you just forget about it completely. Stop loss is life saver in many situations but peeps don’t make use of it in correct way. What I mean is, they will always think they can gain the profit again if the trade has stopped at loss. This means they will re-buy the asset immediately and in the hyper mood. That’s ain’t right and that’s not perfect use of stop loss. The method is used in the first place so that we can control ourselves from overtrading and also controlling the losses. But anyways it always goes to the South Pole. Lolz

tbct_mt2

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If you use stop loss, you want to use that order to avoid your decision with emotion.

When the market is unharmful, your mind is more neutral and you can make better strategy for your trade. It is when you calculate and set your stop loss order. If you don't use the order, when market crashes, you will not make decision from your plan and calculation. You will decide with emotion that is not good when you see market crash.

Rehan Zakir

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Stop loss has great importance in trading. Some peoples did not like stop because they did not want to book small loss and in returns they lost their whole balance. Because there is no that tell's the exact move of coin. We can just predict a coin that it can happens. But if we sit opposite to the market trends then we get loss and we did not know how much loss. So, stop loss is a very good tool in trading. So, please use stop loss in trading to secure yourself from a big loss.

B-Bit

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Not all cryptocurrencies are suitable for stop loss. Some speculation coins can set a stop-loss price. The prices of many value currencies will rise after falling. We need more patience and not panic selling currency.

Fatunad

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Quote from: ?? on ??

I agree with you, mk4. The usage of stoploss would be dependent on a case to case basis, whatever and whenever it is beneficial and effective to a trader. For instance, there are those who are active traders, holders, going for short-term or long-term, and thus varies with the use of stoploss.

Would really be depending on your needs or on how you do trade because not all would really be that short term traders which stop losses would really be relevant because there a swing traders
which doesnt really care on using SL's because whenever they are in negatives then they would just simply held up and wait up for the price to recover.
So its up to someone if they would really be finding it to be that beneficial on their trading or wouldnt really be that much that needed.

Bitcoin_Arena

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To me, it's a risk management tool and I use it always, regardless of how confident I am about the trade. If I made a bad trade and the stop loss got triggered. Well, I count that as a loss and move on to trying to get a win in the next trade without having to lose over 20% of my account in 1 trade.

Most of my stop losses are usually somewhere below the support or above the resistance level, just in case of a price break out.
I also make sure I trade only in trending markets. Sideways market can mess you up Grin

mk4

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There is no wrong or right way of using it, because it will totally depend on the trader's strategy. There might be some short-term drops in price where you think that the drop would be easily eaten up by buy orders hence you wouldn't want to automatically sell. In such cases, alerts would probably be better like jackg said.

In the end, it's totally different for each trader. It ain't binary, not using stop-loss doesn't automatically mean it's a bad idea.

palle11

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Quote from: jackg on September 24, 2021, 08:52:21 AM

though I should probably just set it where I think it's really unlikely to get triggered.

Depending but if you take it very far away from where it is likely not be triggered it also means you could be risky too much of your money for that particular trade. Stoploss is usually good when calculated against your trading balance maybe just 1% of your balance or below 1% and you can maximize your profit. But if you take alot of your money out in stoploss and it keep hitting on it, you will be running out of balance. This is part of money management skill.

This is

blockman

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Those that don't use stop-loss are likely the newbies in trading. Most experienced traders are using it for their own sake and they know how important and helpful it is for their trades. It's for stoppage further losses and it's very effective if you are an active trader.
But for holders, usually, we don't use stop-loss because we have a long-term outlook on the market. Although we can stop loss as much as we can when we see that it's no longer bearable the losses.

checkmatesir

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Stop loss in trading is beneficial in many aspects whether some trader don't like or some don't want to use stop loss but using it gives saves much of anyone's money. As stop loss is the way to keep eye on your trading pairs, As you are also right that trading strategies should be make better but i must say stop loss is also an important way of saving yourself form further loss.

jackg

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I've started using alerts instead of a stop loss because people keep mentioning about market manipulation on exchanges and I've been trying to protect myself against that more recently. I'm also one for setting a stop loss that isn't too far away from where the price will rebound up and fulfill my take profit so that's another reason against setting one - though I should probably just set it where I think it's really unlikely to get triggered.

palle11

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I'm believing that many traders here don't like using stop loss and the reason is just within our first guess, they don't want the stoploss to take them out.
In my own situation , I also didn't like that idea of getting to loss to stoploss but my orientation have changed towards that because stop loss is better used than not to be used. One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed. If you are in the habit of readjusting your stoploss and take it further, you can stop that because the price can chase you there

For newbie traders and more experienced traders, I do also believe you having the dilemma of using or not using stoploss especially when it takes you out frequently but to such, the problem may be with your trading strategy and not stoploss.

So what is your challenge to using stoploss?

Topic: The psychology of stoploss (Read 463 times)