Trading without setting stop loss (Risky or Not)? - page 8.

milewilda

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Quote from: thesmallgod on August 15, 2020, 01:18:10 PM

I will love to know how far you have been trading with this strategy, I don't use stop-loss also especially when I am doing day trading this is because I have learnt a great lesson I used to trade Bull and Bear token. One night, the price went down greatly below the resistance level and almost half of my profit had gone. My advice to you is either you set a stop-loss or do not have active trading especially at night when you want to sleep or anytime you will not have a chance to be checking your trading

When it comes to day-trade then i dont see for SL's to be that relevant since you do most likely to check out prices every now and then and also i dont really leave out a position when i do sleep
but if you do decide to sleep or be away from keyboard then its suggested to set up something like SL or even a take profit tool but there are cases which i do much prefer on leaving as it is
without any limits because when price goes down you can still possibly break even since you havent triggered or make use of that sl tool.

Quote from: goldade on September 04, 2020, 03:05:49 PM

Every trader has a strategy that works best for them. With what you wrote, it is evident that trading without setting the stop-loss order works pretty well for you. For others, it might be a disaster.
Since it works well for you, then I do not think it's risky not to set stop-loss. However, it is recommended to always set stop-loss for all trades
Personally, I have always set a stop-loss order to minimize my losses in times when the market is not favorable to me.

This is right! It might be useful for others but this one could be irrelevant to some.

goldade

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Every trader has a strategy that works best for them. With what you wrote, it is evident that trading without setting the stop-loss order works pretty well for you. For others, it might be a disaster.
Since it works well for you, then I do not think it's risky not to set stop-loss. However, it is recommended to always set stop-loss for all trades
Personally, I have always set a stop-loss order to minimize my losses in times when the market is not favorable to me.

thesmallgod

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I will love to know how far you have been trading with this strategy, I don't use stop-loss also especially when I am doing day trading this is because I have learnt a great lesson I used to trade Bull and Bear token. One night, the price went down greatly below the resistance level and almost half of my profit had gone. My advice to you is either you set a stop-loss or do not have active trading especially at night when you want to sleep or anytime you will not have a chance to be checking your trading

rexxarofmoknathal

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Sometimes even in classical trading without leverage I consider stop-loss with moderate bandwidths on the lower side to prevent me selling prematurely. I don't always do this but whether I use the stop-loss feature depends on the market volatility of that coin.

Now, given that you been trading on leverage and without a stop loss the fact that you managed to make profit is great but I personally wouldn't risk these earnings. This is to say that when leveraging stop-loss is almost imperative!

SquallLeonhart

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I am sensing some sort of like adrenaline rush in the question itself don't you guys? Like not because you wouldn't know if stop loss usage is saving you any risks or whatever, you would know that. Having stop loss means that if something goes down super fast, you will be right there before it falls down and you will get out before it falls down, so yeah it saves you and it is quite obvious.

However question could be based on something more dire, like "how risky exactly?" as in if you want to have a risky trade, like a x100 leverage trade type of risk but a lot less than that, like literally A LOT less than that. So, maybe OP wanted to know about the risk level and not actually if it is risky or not. If I am wrong, that is a very easy question to answer, if you use stop loss, you have less risk.

Xinarae*

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Losses can be realized many times when trading without stop loss but there are also many people who use stops to face losses. most of the time we see that many people have benefited from using staples and trading without staples would have been a loss for them. How you use Stop Loss depends on whether you are actually making a profit or not.

KnightElite

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Quote from: bearexin on August 14, 2020, 03:26:48 PM

Quote from: Cryptoababe on August 11, 2020, 07:43:42 PM

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

It’s important that you make use of stop loss, this is in case if the price of the market should go against you. Although you said that you have been making steady profit, that’s good. Still have it in mind that some days won’t be as good as the others when you were cashing out easily, so it’s good that you’re prepared for those as days and make use of stop-loss to beat them. From what I have seen, based on the explanation you have made here, it seems you’re really good at technical analysis, so that can help to push you further in this, you already know what you are doing.

Quote from: maxreish on August 13, 2020, 12:27:50 AM

Since you are using such low leverage, 2-5% leverage is safe but it liquidation can not be prevented when whales sudden attack and the reversal action taken place.

You can never know when they attack. He’s trading and it’s working for him because he’s one of the lucky few that haven’t been caught in those moments. That’s why it’s very important that he makes use of stop loss, because we can’t really predict when it happens.

My trading mentor always remind me that I'm always wrong until the market proves that I'm right. It only means that there are always down side in every kind of strategies out there. I do recommend stop loss and actually a beginner should master it before deposit huge amount of money in their account. Mastering the stop loss can help you to have edge in this kind of market, you can prevent what they called capital wipeout through stop loss.

bearexin

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Quote from: Cryptoababe on August 11, 2020, 07:43:42 PM

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

It’s important that you make use of stop loss, this is in case if the price of the market should go against you. Although you said that you have been making steady profit, that’s good. Still have it in mind that some days won’t be as good as the others when you were cashing out easily, so it’s good that you’re prepared for those as days and make use of stop-loss to beat them. From what I have seen, based on the explanation you have made here, it seems you’re really good at technical analysis, so that can help to push you further in this, you already know what you are doing.

Quote from: maxreish on August 13, 2020, 12:27:50 AM

Since you are using such low leverage, 2-5% leverage is safe but it liquidation can not be prevented when whales sudden attack and the reversal action taken place.

You can never know when they attack. He’s trading and it’s working for him because he’s one of the lucky few that haven’t been caught in those moments. That’s why it’s very important that he makes use of stop loss, because we can’t really predict when it happens.

pawanjain

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Well everybody has their way and their own strategies and if that is working well for you then you should keep doing that.
I just do swing trading without stop loss. I just place limit orders and I tend to make some decent profits.
I does take time sometimes but profit is what matters eventually.
They say in programming that if the code is working then don't touch it.
Similarly, if your strategy is making you good profits then don't change it Grin

jostorres

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You can buy when it bounces off from resistance, you just need to make sure it reaches all the way down to support level Cheesy

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I personally would buy at above support level if it didn't break, because I would know that support is strong enough to keep it and that way I would be capable of actually profiting when it goes back up. The only way you could lose money that way is if the price goes all the way down to support, fails to break it, goes up a bit and crashes harder down afterwards, which is not unique and could definitely happen, but I think it would be not common neither.

More commonly, people buy at above support levels and sell right before resistance, that way you play the spread and could make a hefty profit most of the time, except times it breaks either of those two.

Salauddin1994

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It will usually depend on the trader if he has good knowledge and experience about the market then he will be able to trade without stop loss and there will be no risk. It is true that it is not possible to trade without risk but to proceed slowly. In the case of new traders, Trading is better to make stop loss because they do not have much knowledge about the market and greed is the reason for making more profit later.

atjiat

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Quote from: imstillthebest on August 14, 2020, 08:45:09 AM

im no pro but seeing your post makes me say that you are doing verry good . your good with and without stop loss although its risky but you have manage to beat the risk and earn more .

we all have our strats and you already figured out whats work best for you , i dont think that modifying that present config can improve your trades but im afraid that it will only make you earn slower and not earn at all

Many traders pay a lot of attention to trading, using all their free time for this, and that is why they do not use stop loss. But in order to save time and minimize your risks, stop loss is preferable and will only bring in with the right settings. In order to avoid certain mistakes, such as placing a stop in the liquidity zone, as there is a high probability that the market will pass through these values before changing direction.

ethereumhunter

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Quote from: Bitum on August 14, 2020, 07:33:24 AM

I would say that it is up to you whether you use stop-free or not, I only say that in some cases this can be a very helpful tool and protects against even greater losses

It depends on how we trade because sometimes, people will not use stop loss, but they prefer to watch the price move, so they can decide to sell or still hold. Maybe for some people, stop loss is not work for them, but for other people, stop loss will work. It is good for @OP. He can set how to make a profit because he knows that the market will not always move higher. It is better to get the profit while we can than to wait for more and expect to make a bigger profit.

imstillthebest

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im no pro but seeing your post makes me say that you are doing verry good . your good with and without stop loss although its risky but you have manage to beat the risk and earn more .

we all have our strats and you already figured out whats work best for you , i dont think that modifying that present config can improve your trades but im afraid that it will only make you earn slower and not earn at all

Bitum

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I would say that it is up to you whether you use stop-free or not, I only say that in some cases this can be a very helpful tool and protects against even greater losses

dunfida

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Quote from: Cryptoababe on August 11, 2020, 07:43:42 PM

Hi All
I've been trading with btc for a while now with 4x leverage and without setting stop loss. But so far, I've been making profit. Although, I still have plan to reduce to leverage to 2x with time.
Due to current market, I've not been selling but buy. I wait for btc to reach a specific resistance price and then when the price come down, I buy and set take profit to almost the current resistance price.

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

but I feel like posting about it here to see other people opinion and more experienced traders opinion.
I will really appreciate your opinions and what you think will be better or any better suggestion.

This might be talking about traditional markets but they are all just the same.Links given are worth to read on towards on when and how should it be used.
https://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
https://www.investopedia.com/ask/answers/030915/how-do-i-determine-where-set-my-stop-loss.asp
https://decodingmarkets.com/professional-traders-stop-losses/

Hope this helps.

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Quote from: Cryptoababe on August 11, 2020, 07:43:42 PM

Hi All
I've been trading with btc for a while now with 4x leverage and without setting stop loss. But so far, I've been making profit. Although, I still have plan to reduce to leverage to 2x with time.
Due to current market, I've not been selling but buy. I wait for btc to reach a specific resistance price and then when the price come down, I buy and set take profit to almost the current resistance price.

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

but I feel like posting about it here to see other people opinion and more experienced traders opinion.
I will really appreciate your opinions and what you think will be better or any better suggestion.

When your predictions are more accurate then you may not need the stop loss feature but why not have it, it might save you from unexpected huge loss with very minimal damage to your capital.Or if you are a long term trader then there is no need for it, simply wait until the price gets higher and sell it once it reaches the goal price.

Mpamaegbu

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Quote from: Cryptoababe on August 11, 2020, 07:43:42 PM

Due to current market, I've not been selling but buy. I wait for btc to reach a specific resistance price and then when the price come down, I buy and set take profit to almost the current resistance price.

First off, it's dangerous to trade without a SL. Highly dangerous, I must say. Except you've a high risk appetite.

Now, to the quoted and bolded above: The law of TA stipulates that you sell off Resistance, and not buy. You buying when price bounces off Resistance is risky, even though Bitcoin is bullish at the moment. You're taking unnecessary risk and it's paying off because of the bull market. Soon you will pay for this error of trading. The right thing is to buy from Support, and not Resistance.

carlisle1

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Quote from: onrise on August 13, 2020, 07:16:13 AM

Unless risk-reward ratio is not favorable would not be doing any such things where the losses could be unlimited means the entire amount invested would be lost if no action taken on the timely basis.

That's the goal, doing such actions needs to be assess well, if there's no favorable outcome you just completely risking your investment, in
certain point.,

Timing is very important in ending your position traders are aiming to stay in positive and limits the damages if the entry position
failed to generates good outcomes.

Quote

So we do have the stops loss functionality and trading involves high amount of risk and unless if people do have spare amount and can afford to lose then it is fine to try this strategy.

You need to assess this feature very well, go more deep in analyzing this strategy before risking your money, else, you are just wasting for trying.

onrise

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Unless risk-reward ratio is not favourable would not be doing any such things where the losses could be unlimited means the entire amount invested would be lost if no action taken on the timely basis. So we do have the stops loss functionality and trading involves high amount of risk and unless if people do have spare amount and can afford to lose then it is fine to try this startegy.

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