Topic: Tips to Follow traders/scalpers (who use Stop Loss) (Read 511 times)

The most experienced traders are making money by trading. They gives signals to the other people's before pumping a coin.
They did a technical analysis about a coin. And when they are sure about this coin will give good profit to the early investors they give a buying signal to their community.
So, I also recommend to follow these types of traders.

One, indeed because using stop loss is a strategy to manage risk in trading. I can totally understand why you're leaning towards traders incorporating this in their approach. However, remember sometimes some exchange bots specifically target large groups of stop-loss orders, then miss out on profit opportunities. Then, the broker's style may not necessarily suit your strategy, and the fact that they trade like eToro for example means you may need to create an account there if you don't already have one. My advice is to just gain experience and averaging-down or forced selling to manage risk, and avoid the need for stop losses.

I do not like to entirely discourage traders, there are good signal providers just as there are bad signal providers, only that people are not so informative about the right one to choose and the consistency of signal providers most times is questionable. But the social media age has spoiled a lot of things, there are fake ones everywhere and they are the most popular simply because they have marketing and influencing skills. However, these several providers are in categories, there are some that will lose your money pretty fast, there are some that will win very fast but lose the money later, and there are some that will continue to lose and win without any meaningful success. If I were anyone, I would go for those who win the money pretty fast but later lose it. But what I would do differently is to manage my account better than them so that it doesn't ruin it later. This is particularly true if the trader has a higher than 60% winning, I believe the lack of management and poor emotional handling causes their latter losses, this is where you come in.

If you are a good trader yourself, you would know that the market is not always rosy for you no matter how much you try. At times, your strategy is being challenged by the market, it's possible that other strategies are flourishing at that time, which makes the market tricky, proper risk and account management are mostly needed by then which the providers lack in most cases. They can't of course be absolved of the blame but as a smart person, you can adjust things for your success especially those that are 60% + in their winning capacity.  

I know many signal groups where know to be a scam and they mostly refer people to there own sites or where they will get referral bonus for referring people to the site. More importantly, we need to understand trade to reduce the stress and the possibility of getting scammed through unknow third party sites that might not worth it because we want to make more money by copy trading and and joining signal groups.

 Bitget is a good centralized exchange we can always use to trade whatsoever coin we are interested in and we also need to  understand the way the trade we intend to copy trade does it own thing. This will help us to be able to adjust using stop loses and other tools to ensure our safety as a trader.

Following copy traders will not end that well for you, the results are usually lackluster and not that great. I highly suggest people to make their own trades, if they are not greatly happy about it, then they could just avoid doing anything regarding this, and they could make sure that they are not doing all that bigger.

I personally believe that the best thing to do right now would be to make sure they are ending up with something that has to be a little different, copy trading means that you are making the same trades that someone else is doing, and you do not know that person, they may have done well so far, but that doesn't guarantee that they are going to keep doing well, so always get better for yourself.

If you don't know how it works, don't do it. Like most traders who don't use stop losses in their trading because they don't want to risk mistakes that will occur in trading.
Copy trading according to the definition that I know is linking a trading account to a trading account belonging to another trader who you think is very skilled.
So far I've never done it so I don't want to say it's bad if you do.
During the trading activities that I have carried out, perhaps I still carry out a very standard type of trading known as spot trading.

Stoploss is used to anticipate when our analysis is wrong, so it aims to ensure that the losses suffered are not too deep, and also that our strategy can be measured according to the existing portfolio. On the other hand, this can maintain our emotional stability, because psychology is the most important factor in the success of trading. Most trading people only rely on their heart's desires, and cannot see logically

I use stop loss every time i trade this the most important or else your acc with be liquidated all your funds

Maybe copy trading is more profitable compared to signal providers that are identical to scams. This depends on us following a trader when copy trading. There are also many potential traders available on exchanges that provide copy trading. Copy trading does not guarantee a profit, there is also a risk of loss or even loss of funds when copy trading.

I'm using stop loss in my regular trade because definitely it's very important to reduces you losses but i don't follow any traders, i don't want to believe copy trading, So i follow my own strategy in trading. I would suggest to you don't follow paid signals, you will get liquidated end of the day. Just try to trade based on your own strategy.

Your opinion is correct. It's just that it takes a long time to implement it. In addition, I think it's good if you always level up that knowledge. Over time it will definitely produce results

The idea starts from the fact that we invest so early, and we invest so smartly and we turn very low amounts into very high amounts, that's the very first start. Secondly, we end up sharing this success online, not all the time and not everyone but some of the people who turn a thousand dollars into hundreds of thousands of dollars share that online.

These are the first two steps, third step is the newbie who is not in crypto, or just got in and out quickly and just not a veteran, ends up seeing you making that much money. Last step is people who want to scam these newbies, saying "we can make that for you too" and promise to help them, in exchange of money. Newbies fall for that because they think it's possible to do it.

Signal providers have been a scam since the beginning, however newbies traders want to find shortcuts to make money without the need to actually learn, and see in signals a way to do this, and while copy trading is not as bad, as we are talking about real traders obtaining some short term profits on those platforms, the reason newbies traders choose this path is the same, but unfortunately for them I do not really think there is any way to obtain profits from the markets by using copy trading.

If you are not really aware of the signal providers, you will really fall into their traps, thinking that you will have an opportunity to earn cryptocurrency. So extra caution and wisdom are needed in such instances.

Now, in copy trading, I have not seen any ads here that promote influencers who say that they can make money from copy trading and that even if you don't know how, you can make money. say such things because they are paid.

Then another thing: copy trading has a paring risk that can be given to any investor here in truth if they only find out about it.

As much as we try to avoid losing money by following other traders who have been trading for several years as a way to make some money, I wouldn't advice going through this route as it's a waste of money and if they lose you lose but they still get paid.. meaning you are more exposed to risk!

Let's invest some time to learn the skill and trade on our own.

If you don't over leverage your account, you can take somedraw as sometimes the markets are after those stop losses which is called liquidity in other circles, so trading without a stop loss can sometimes be rewarding.

We are discussing two things here one is copy trading, even I have not seen any copy traders having stop loss because it will be recorded against their name as a lose which will hamper their profile, for example you will see copy traders they would be running the algo for over an year and so but they never use stop loss and it makes sense because let's say they are trading with $100 and let's see they have a risk margin of 20% then stop loss will be applied at $80, but if they don't apply stop loss then the asset will lie in their wallet until the sell price hits and there is very rare chance of coin going zero unless it goes bankrupt.

I have intentionally ignored to mention anything about signal providers as they are the most widely used scam where someone who have limited knowledge about crypto recommends us on what to buy and sell.

The funny thing I mentioned is that you use limits as a rule, no matter wht kind of trader you are. Even long-term people set max limits for TP and max limits for loss.

You're still discussing that scalpers "must" and how important it is. Experienced traders know this is non-negotiable

The fact most people discuss importance as if it's optional says a lot about the amateur mentality of most crypto traders.

But what sometimes makes me pity beginners who are in a hurry to make quick profits is that sometimes they scalp with all the capital they have. The point is that some of them don't even share their capital. They do not divide their capital as most of it is for long-term, medium-term investments and the rest is for short-term investments such as becoming a day trader or even a scalper. But they sometimes put it all in on a quick trade. Which makes them more risky in trading. But the crux of the problem is that from an emotional or psychological perspective, those who just want a get-rich-quick scheme. or a quick profit scheme. They make trading like gambling. However, these two things must be distinguished. Well trading is for business and financial growth, while gambling is just for fun.

But many beginners eventually become experts after they learn from experience. Sometimes experience in trading will not immediately produce profits. But if we continue to learn then getting benefits will be much easier to obtain.

To be honest, it's hard to be a scalper if you're not sure about entering it. It's okay if you have deep experience here or extensive knowledge of crypto trading. There are also others who are newbies who are too eager to make a profit here in cryptocurrency.

Those who think it's a rich, quick scheme—that's not possible in the field of crypto space, actually. That's why others immediately join signal provider groups without even doing research on things like this. That's why there are usually many people who are fooled due to a lack of knowledge.

When people are looking for traders they can copy on those platforms they often take a look at those that are producing the highest profits, and a trader that is not using a stop loss will most of the time be at the top of such list, since they are willing to take a higher risk and deal with the volatility of the market and this strategy can produce great results on the short term, however eventually a trader like that will make a bad trade and lose a great deal of money, but once this happens they have been replaced already at the top by other traders doing the same, which may cause more conservative traders to be ignored by those looking to copy them.

Afaik, Stop loss feature is available on your own settings when you copy trade someone. I’m using Bybit copy trade feature before and it allows me to setup my own stop loss percentage as default to all my copy trades as safety precautions on copying someone.

Also, Most of the professional trader that available on copy trade use stop loss with their trade. I believe you only saw high risk trader on Bitget that’s why they don’t use stop loss but pro trader always use stop loss. Don’t even bother copy someone that doesn’t use stop loss no matter how good his portfolio.

Dear to some level I can agree with your point that trading is risky if you do not have proper stop loss and risk management, but the stop loss should not be random it should also be placed after a proper analysis and market scenario, even if you should consider the stop loss adjustment according to the market sentiments.

I have seen many new traders complaining about their stop loss that the market hit their stop loss price and bounced back, such type of cases happen when the stop loss is placed randomly, to make the stop losses more efficient a trader must focus on leaning about the market psychology to respond with market accordingly.

As a scalper it is a must for us to use stop lose or else we can end up losing big from the market. It is only position traders that don't use stop loses most time because they trade for a very long time. Position traders can be in the market for a very long time lasting upto 6 months or more. As a scalpers it is very important for us to stop trading without using a stop lose so that when we make loses we can be proud that we had a bad day than becoming greedy to the level of not using a stop lose which can prevent us from not making severe loses just like many traders in the market for long at learnt from the own mistakes.

The thing is, believe it or not, majority of trades don't use limits (that means not just stop loss but limit order for buy and sell either).

People start trading and calling themselves scalpers or day traders but then, they act like long term traders, they think of targets, but they don't put it in as limits.

Experienced traders only use limits.

Trading without stop loss is a very risk way of trading and not advisable, it can aswell be considered not been professional enough because without stop losses, your risk are not pre-defined and this will make you panic trade because you are not aware of how much you are risking and you may aswell loose your portfolio if there's high volatility in the opposite direction with your trade.

Some of those traders who trade without stop losses actually gamble, because they will have unpredefined risk and eventually get some losses which they sometimes don't bring to the public. sometimes it's also not very safe using signal providers because some of these people trade with different strategy that may not be suitable with you, while they profit, it's possible you loose because you didn't apply certain patterns which they use, it much more better and safer you study and become your own signal provider.

Trading without a stop loss put your portfolio at a risk of getting liquidated, those traders at bitget are very experienced that is probably why they traded without a stop loss they knew when to exit a trade when price reverses, I think you should aim for a higher timeframe trading signal provider where you can take a signal with a wide stop loss, however as it was mentioned it's very risky to follow signal provider service because it is not a guarantee to earn profit consistently, I advice you to take your time learn trading skills so as to acquire enough knowledge in the long run it would worth your efforts.

Use DCA and invest is easier for you and it's better for your capital. You will see your portfolio growth if you hold bitcoin and do DCA with time.

Today and coming months will be great time and chances for you to use DCA with Bitcoin and get profit. It's better to DCA in bear market and hold to wait for portfolio growth in a next bull run. The market started to warm up again with many good news about Bitcoin Spot ETFs.

If you are unsure about stop loss order, you can read One of best weapons in trading. Stop loss order can help you but you can use a better order type, Stop limit order.
What is a Stop-limit order?

They are definitely experienced players, meaning they are experienced traders who are used to it. There are several things that influence them not to use SL when trading. Because they are really active, and their strategy is to analyze the market. Indeed, this is quite risky if the market suddenly turns around quickly and they have to wait for the market to recover again. But of course they also have other tactics that can deal with this possible loss.

But when you follow their signals, is it possible that they will give you this second tactic? I think not many signal providers will give away all the secrets even to people who have paid them. So, this will still be detrimental to you, especially if you really don't really understand market analysis for trading, especially signals for future market trading. Wow, this will be very risky.

When you are copy trading, it is very important for us to compare your portfolio to the person you are copy trading so that we can settle the differences between you both. Since the persom is not using stop lose, it is very important for us to use stop lose since your Capital might not be as big as the person's capital. It is very important for us to have good knowledge about trading when we are copy trading so that we can always adjust the way we trade and allow the trade to suit us compared to the actual oerisn we are copy trading their strategies.

Don't do it. I say it again, don't do it. Never try to copy other people or follow what other people are doing if you don't have enough knowledge about it. Not every trader sharing their tradings on the platform are pro and not every pro trader only makes wins. When you follow others, you are not learning anything and if you make a loss, you can't blame any of them or ask for a refund. It was your mistake to follow them in the first place.

Make your own analysis and based on that you should learn how to use stop loss on your own. Just imagine you are copying other's work and one day they are gone. You have learned nothing by copying and when they are gone you are left with nothing. How will you plan to continue your journey? So it is better to learn it on your own. Even if it takes a lot of time, in the end you will be in the benefit.

I can second that 1st advice, signal providers often only benefits those at the higher level of pecking order in that signal group so better off not be the reason that they're going to make more money, especially those that ask you to pay for their signals, heinous thing to do for them. Copy traders are a pretty good way that you can make money without the worry that you have to think too much about how you will trade because you're hitching on the success of the trader that you're copying and most copytrading features help you identify the best traders to copy so you needn't worry too much which one you should copy trade.

You will have plenty of recommendations but I kid you not, that will not do you any good because you will not go far in trading. The reason is this: traders have different views and opinions on the market, how trader A will want to make his trade will be different from how trader B will want to make his own and even you that you are trying to follow a particular trader that gives signal will probably have a another opinion too. When you copy a signal of a trade and along the line, the trader change his views, they might not share it with you leaving you in darkness and loss.

I have noticed another criminal things signal groups do most of the time, they can share you signals all your time with them but a day will come that they will share you pump and dump scheme that if you are not smart about it, you might fall for it. What they do is, they tell you to buy a particular coin or token in an X time and before then, they will have stashed their bags with that coin and as soon as you all buy the coin, they secretly dump it and move on leaving you guys with garbage tokens.

You might not learn something good about trading when you rely on signals when you are supposed to be learning it by yourself. The traders you want to follow-up are not magians, they used their time to learn, understand the market and trading and they are enjoying the benefits of it, you also need to do the same as I have seen you understand what stop loss is about.

I do not see how anyone can be a good trader without using a stop loss, a stop loss is not really optional, I could understand if a trader had a wider stop loss as they were willing to take a higher risk on their trades and their accuracy on predicting the movements of the markets was higher than average, so it makes sense for you to stay away from them, however you are not being cautious enough as you should stay away completely from copy trading as well.

I won't do what you say; in fact, it's a bit risky when people who don't know anything about the crypto space do that. Why do you think there is no risk to participating in copy trading?

Don't you know that there are also pros and cons? For example, what traders do is show in their performance that the percentage of profit that joins them is still high, but the truth is that it is not really like that anymore, as if there is a trick, deception is still taking place in reality.

One of my friends who even introduced me to crypto is also a trader and scalper. But I haven't seen or communicated with him for a long time. But as a scalper, it seems he also often uses stop losses. Because he often tells me that it is important to always set a profit target and place a stop loss entry. Because fast-scale trading is usually carried out on trading pairs that have high volatility. Like coins with projects that are holding events or something like that. I personally am not a scalper. Because I once tried to become a Scalper but I didn't seem suitable or mentally ready. Because scalping looks easy, it turns out to be much more difficult than regular trading.

You are basically right here, stop-loss cascades have already led to several flash crashes on exchanges where the various coins were traded significantly (!) below market price. Everyone who had positioned their stop losses relatively low was thrown out and definitely lost money when the upswing occurred. I will certainly remember this flash crash from 2017 for a long time, but in a more positive sense. I had placed a very low order on BTC there and simply forgot about it. However, the order was triggered by the flash crash:


Source

On the other hand, stop losses have personally saved me many more trades or allowed me to take profits. For me, the use is therefore clearly positive and I would recommend sensibly placed (!) stop losses to every newcomer. It is and remains the only safety net when trades go wrong on longer time frames.

Signal providers who uses stop loss are still signal providers, and yes using stop loss is better and it's good idea to follow those then the ones who doesn't use it, but that's like comparing shit with shittier, I do not think that it would make sense. It would be smarter to arrange something that would be better, and for that to happen we are talking about something that could make a lot less sense.

I believe that the best thing to do at this case would be just let the personal trading that you do take care of it and you could use stop loss on them and you will get better results. I understand that life is not simple and you may not have the time, but you need to spend some time learning how to trade, and use stop loss while you are doing it.

Yes, everyone believes that. However, for me stoploss is very helpful, in every direction of market movement there is a trend, if price movements are impulsive during a trend, with the help of analysis we can apply stop loss and take profit. Of course, our trading also follows the trend, not the opposite.

However, it is up to each individual - there is no compulsion in using SL and TP. For me, SL and TP have brought me to the safety of my balance and increased my balance.

Do not follow signal providers. Do not even think about paying them for it. There is no easy to making money on crypto trading. You must learn the skills involved if you want to make money. You'll be lying to yourself if you think that you can make money by simply following am the trading signals provided by these guys. What you may not know is that things happen so fast and by the time you implement it, the move has already happened and you'll lose. Think bout the time and money that has been invested in paying these guys and putting in the trade which is already lost. If you have invested the amount in yourself in learning the skills, you'll not depend on anyone's analysis and making the money from a trade will be fast and easy.

Trading without stop loss and take profit is the same as gambling, the market can change at any time and in unexpected situations. This is very reckless especially for a copy trader class, even though they showed good performance before, following it for a long time is suicide. One day he and his followers will realize how important stop loss and TP are.

I'll skip the signal provider. There is no benefit, sometimes they give misleading directions.

Learning analysis yourself without following other people is the most appropriate choice. Change your dependence on other people and start being independent. Sometimes our own family can betray us, especially other people. We shouldn't trust other people in investing or trading. do it and determine it with your own efforts and analysis.

Good Luck

As a beginner are you interested in that kind of copy trading?
Actually, it is not important to me whether you believe in it or not, but it is better for you to learn how to analyze and not to focus too much on choosing which trader or scalper is good.

Knowledge about trading will be needed first so that you can judge which trader is good.
But again, there is no good advice to choose traders who are in copy trading.
Especially if they do not use stop loss and other important strategies, they lose you will lose too.

So make your choice, whether you want to learn trading knowledge to better understand and be able to trade independently,
or just depend on others by copy-trading.

It's hard decision to set stop loss on your order, I can confirm that from my experience. Usually, I try to stay alert and watch price in live when I am trading because I can more likely understand whether there is a pure manipulation or there is a real panic. There is only one time when I set stop loss on my orders and that's only when I sleep because I got liquidated when I was trading on futures without setting stop-loss and lost thousands of dollars.
My piece of advice is to use stop loss feature if you aren't able to watch price in live. If you watch it in live and are confident that you'll be able to take the care of sudden price spike or dump and are alert at the same time, then you can continue without it.

In the very first place you will not commit to a trader without a proper plan unless you just want to make a position wondering if you will get a profit if not lose your asset, but again basic knowledge in trading is using a technical analysis and position of proper execution TP/SL is basic tools given by the exchange for the traders to help them with their trades, but of course, its users choice if they want to commit more with the trades. Trading signals and groups just giving you an insight with the coin and positions they will entry but not yours entry its your mistake once you joined them even at your self you dont know the run of this coin or the current state of the market. Theres nothing wrong with copy trade but of course atleast you have an idea with the basic TA of the market or else youll let other people make risk for you with your money still with proper monitoring.

I agree. I don't recommend following signals from other people, as many of them tend to offer services for a fee, or if the signal is free, the quality of the signal is cheap, which is why I don't recommend following and relying on signal providers. If the OP wants, he can use Etoro, which is copy trading. You will just need to select the traders you think are trustworthy and, of course, have a good record in trading in crypto.


If you, for instance, follow signals, I still think that it is not suitable. Why? What if that signal requires a lot of equity and the trader has only a limited amount? In short, there are a lot of things to consider before you can follow and fully utilise a trading signal, so it's much better to rely on yourself, who is fully equipped with knowledge and skill in trading.

I've never done copytrading on Binance so I don't know about it now. Even if you participate in copy trading on any exchange, you must still have analytical skills to keep up with the market. You can also place a Stop Loss if the market changes direction so that your losses are not large.

I don't know if any signal provider uses stop loss. I prefer to trade based on my analysis to learn more about trading. You should learn more about trading analysis so that you don't depend on other traders.

By having good analytical skills, you can determine when to trade. You can also improve your analytical skills by learning more. It would be more feasible to do it because at least your analytical skills can improve.

If you want to trade using the copytrading method, you must follow the person you trust. Otherwise, with the first loss, you will try to modify the strategy, and thus you may achieve losses. Therefore, if you are using copytrading as a basic strategy, it is better to adhere to it, even if it is without a Stop Loss.
There are some educational videos called Copy Stop Loss (CSL) that can be used if you want to enhance your strategy.

I think most successful traders are using stop loss. For me, stopping loss when you do trading is a must and it will help you to minimize your losses.
For OP, have you tried to check some centralized exchanges like Binance or Bybit, they have this Copy trading feature if you want to copy trade. Check trades history of traders first and some description so you can select what you want.

Did you know that copy trading has pros and cons? The only thing that is not good about other copy trading promoters is that they don't really inform about the cons. This is the problem; if they promote copy trading, they make it appear that you will have no problem with it.

If we look at it, it's not ugly when someone tries copy-trading. That's why you should be critical before deciding to do this. Or if you join other signal providers because the capital investment is dangerous when it happens.

Have your own trading strategy instead and put a stop loss so you wont be liquidated.
Every traders have their own unique strategy and you can’t fully depend on those signals because its too risky.
In trading, you should analyze on your own and have a strategy that works within your own timeline.

If those traders are doing well without using any stop losses, then what is the problem here? It is not possible to identify whether a copy trader is using stop loss or not as the exchange only shows traders statistics about past trading activities. If any of the copy traders has any communication channels in that exchange or outside that exchange then it will be better to ask him personally. There is no way to know about this without them telling you personally.

I'm not surprised that those traders are not using stop loss, just as they code bots to the scalp for them without the use of stop loss and some utilise a wide stop loss which is risky. In these cases, they are putting your account in danger and they are doing that mainly for a reason, they do not want to have records of many losses simply by the market hitting the stop loss and going back to their positions.

As painful as this could be for traders, it's also protective since leaving a trading position to run for too long in losses or without a protection is a very bad idea. This is unless the trader is always present with the trading platform to close the position in real-time, still, this boomerang at times.

Advice: It's not a must you use a signal provider, and by experience, they do not have long-term positive performance. With scalping, it would be worse, why not look for the regular intra-day trader or a long-term one that practices a decent risk and money management?

It's easier to find traders with those criteria than to find the ones that scalp with the use of stop loss.

Avoid signal providers. I do not know of copy trading, but it is better as you follow the trades of people, unlike signal providers that you will follow nothing than the providers to find ways to earn money from you without them thinking of you winning or losing.

As for copy traders, I do not know much about it, but there is nothing that is better than learning trading yourself and use the amount of money that you can afford to lose to trade.

Hi do you know any good traders/scalpers (who use Stop Loss) to follow either in any copytrading platform or signal providers etc?

There are very good traders in bitget, bingx but they dont use stop loss..I would prefer to follow traders/signals providers
who use stop loss