Bitcoin Forum

I Am stock in-between the decision to trade and when to go on a break from trading, but I will like to have my capital on a stable trade and am considering using the stop lose features on the exchange to execute trades on my behalf while being away.
So have anyone used the stop lose the feature please share your experience.

I've been using stop loss (STOP LIMIT) in binance exchange and its very helpful base in my experience wherein to prevent massive losses. Actually i used that feature only when I'm tired watching the movement of the candles especially if i want to go sleep, because leaving your money without such stop loss is really a bad idea, i mean it's so dangerous and there's a chance that your account will be liquidited without knowing.. So much better to always have a stop loss everytime when you trade, it's a very safe way wherein no need to worry even you go for vacation..  :D

Since I started trading I use stop loss. It's a must and you can sleep easier with that believe me.

Nothing special to use the stop-loss feature, you can put stop-loss limit orders on any crypto exchange. Always remember to cut the loss and don't let the red streak melt your balance. Before creating new trade, do your homework and use the stop loss/ take profit orders, otherwise, the market can go below/up than mentioned levels faster than the blink of an eye if the bad news gonna hit the industry.  Checking the news calendar was one thing on forex markets, not we don't have that option in crypto trading platforms. Having a stop-loss limit orders only method to save us at the moment.

It's a good tool, especially when you are away from the charts. But even when I am watching the markets. So long as I am trading futures especial using high leverage. The stop loss is set as soon as I open a position. You should be willing to take a loss of 20-30% which a corresponding higher take profit.

Just make sure your win rate is a little higher, Maybe somewhere near 60%. Your account will grow over time.

Yes. It's what you need if you're away and you have a specific target of loss like 5% and below. That's going to be your metric upon not monitoring your trades so it'll automatically sell at losses before you get more potential loss. It's actually a good thing to cut your losses and this is very common for many traders but for someone who doesn't trade and just hold, they also can do this at their will if they think that they can no longer hold the pressure and they're about to sell at losses.

Try manual trading for now. Learning how to use the stop-loss feature can be done later on. As much as possible, don't come to the point that you will use that feature. If you don't have time to trade, then just skip trading for that day. Only do trading if you have more free time instead.

You are struggling to trade manually so what's more when you are using a stop-loss.

Stop-loss and Stop-limit orders are different.

• One of the Best Weapons in Trading (https://bitcointalk.org/index.php?topic=5173189.0)
• What Is a Stop-Limit Order? (https://academy.binance.com/en/articles/what-is-a-stop-limit-order)

Stop limit order is used to support stop loss order in situation market crashes too fastly. You don't know when it happens and you don't have time to set your orders manually. Stop-limit orders will help you but you have to identify your exit and risk-reducing price for such orders.

Stop lose feature is indeed useful but only in stock exchange in my opinion since crypto market is really volatile it's better for me to watch it's movement by myself. I dont want just because some people dump my precious coin and by using the stop loss feature it will become my boomerang  :D

Here are a few tips if you are going to use stops. Always use stop market and if you use stop limit, make sure the limit price is large enough from the stop, because there are times when it can come completely crashing down and there won’t be any liquidity to fill your stop if it’s too close to the stop price.

Another tip I don’t put your stop on the daily high or lows or near psychological numbers. Like if you bought BTC now don’t put your stop at $60000. There is a very high probability that the $60K will get run and it will stop you out and might reverse. Basically a liquidity trap.

Stop loss is a useful feature to save us from capital loss which normally occurs due to the sudden market dumps, ofcourse you can trust the feature on exchanges like Binance but you need to know and set the percentage of fall so that the feature will execute your order.

Stop lose usually use for a shot term trade like futures trading or margin trading due to the short liquidity margin on user balance. But since you are planning to leave trading for quite some time, I think you are pertaining to spot trading and usually spot trading is meant for a long term holding or atleast you are buying a coin that you expect it wll grow in the future that's why you will leave it as is. Stop loss is commonly use to avoid total loss on an asset once there's a huge fluctuation on price but if you are a spot trading, It might be devastating if ever the coin you are holding hit your stop loss then bounce back again for another high.

All of us are using stop loss it is one of the simple yet powerful tool in trading. Not only stop loss but also a stop limit for the opposite one, whenever you will enter a trade always consider a take profit and stop loss price and only stop trading when either of those two targets were reached so once you have finished your analysis then you should be able to determine your stop loss and take profit price.

This is exactly what I’ve been doing nowadays. I usually set my stop trading percentage between 20% to 30% when doing futures or copy trading. My mistake a long time ago is not knowing about stop loss in which I’ve lost a lot of money in crypto trading. It’s really important for you to know this feature no matter what trading platform are you using (especially take profit or TP).

@ sleep easier yes and that is true. Stop loss is needed in every trade to cut down on losses when we are not there. It is not easy for newbies to follow because they don't want to put out any money for loss , they get greedy with not applying it and they make profit but later that profit will disappear when the market start bouncing against them.

The size of the stop loss does depend on the individual trader, where the comfort of taking the risk. Of course, with the stoplos we will feel safer when we don't see the market, so we can do other offline activities without having to be afraid of facing a market that suddenly crashes. On the other hand, take profit should also be set with the same purpose as stop loss

I think stop loss is very important when you are trading. There is no guarantee that trading will always make a profit. You use any indicator or technique, there are times when you lose. Don't want to lose? Don't be a trader! The main essence of trading is about managing profit and loss. We should use stop loss to limit losses. Losing trading is normal. But trading until a big loss is a disaster. So this stop loss feature can minimize the losses you will experience, therefore it is important for you to use the stop loss feature.

Never use with stop loss feature when trading although my coin down, I think what for using stop loss feature because many time when coin you sell price pump. You need to make some great points about coin to buy and never use your feeling when buying some coin because you can loss much assets. I think is not worth for using stop loss feature and not working yet because coin can pump and take recovery back higher price when get good news by bitcoin pump.

I guess an example will help you understand better how a market and stop-loss order works.

Say a coin is trading at $100 and you want to buy it when it will be trading above $105, then you need to wait until market reaches $105 level or you may go for stop-loss order to get ready when market is still trading below $105 levels.

(If you wonder why you need to buy at $105 when prices are cheaper around $100, then you need to work on TA and how signals work).

If you want to buy higher than current-market-price then you need to go for stop-loss order; to buy lesser than current-market-price, you can go for normal order.

Same applies for selling also. Like, to sell higher than current-market-price then you can simply go for normal order. To sell lower than current-market-price then you need to go for stop-loss order.

Using stop loss features doesn't mean you wanna go on trading break. Stop loss is only meant for minimising loss.
As ive understand you so far, seems you are trying to say that you hardly make profit while trading but lose So, you wanna take a break from losing your funds.

It's better if you spend more time in terms of trading, if you don't have much time to continue to keep watching the price patterns... you're better off making long-term investments than having to do the stop lose feature, after all trading is more effective with a lot of effort more active (not passive).

This feature is a "must use" feature when you do a trade, because it could save you from a massive drops on the market. I have a bad experience for not using stop loss on a trade (the exchange i was traded in, was not have a stop loss feature that day in 2018) , i lost almost 80% value in less than an hour because holding NXT. If only if i already used stop losses feature it could save me so much from losses.
So, placing stop loss is a must in every trade now matter how good the coins that you are holding, anything could happen in crypto within seconds

Along with minimizing the losses, stop-loss orders help traders to save time by freeing their capital to get ready for next trading opportunity. This means if you exit at minimal losses then you may recover your losses and then you may get into profits as early as possible compared to waiting for infinite time when trading without stop-loss levels.

Yeah, for the environment of highly fluctuating market conditions, stop-loss orders will greatly help to deal against negative market directions. In some sense, stop-loss order is a pre-determined thing to escape without losing much. 

The use of stop loss for a trader is mandatory, especially when you are engaged in margin trading. But to learn more about this feature, you should check out the Binance blog: https://www.binance.com/en/support/faq/360040016512 Especially clearly it will be seen
Youtube Finance Academy: https://www.youtube.com/watch?v=oe1IAVqJonI&ab_channel=BinanceAcademy

Stop loss and take profit is one of the most important things you need to use when you make a trade. Stop loss is you are preventing your assets to lose more money once the set limit already plotted all of your assets are now automatically withdraw. The same thing with the take profit once the set amount is hit they already close your trade. Of course, some of us do something else and we don't have too much time to focus on the market this thing is one of the best and ideal to use.

I always use stop loss and stop limit.
Much easier and no emotions involved.

Even limit orders may serve the exact purposes that you are looking for, I would like to be cautious against ever changing market conditions so that you may not get trapped by all of sudden volatility. When you are placing orders market may seem like in your favour but when you move away from the market then anything could happen which might lead you to lose your capital.

If you are preferring to trade with the help of limit orders and then you must choose non-news hours as market may not show much volatility in such hours. Still, wild fluctuations may happen at any time hence placing stop-loss order at the time of placing entry order is also most mandatory one to secure your capital.

I think most responsible traders are using stop-lose to avoid huge losses, this is a proven strategy for a very volatile market like cryptocurrency, If you are not using this method then you are risking your money 100% and liquidation unavoidable.   

Stop loss is very effective only when you know how to use it rightly. If you're yet to understand how it should be used then you abstain from using it before the whales use it against you and then you'll regret ever using it. This though shoudn't discourage the use of stop loss orders because without them, you'll probably blow your trading account.

To avoid regrets don't set stop loss too close to your current coin price as a flash crash can be initiated just to wipeout the stop loss orders, this crash are fake dip mostly caused by bots/whales. Your stop loss price shouldn't be fixed and it doesn't have to be in the negative value range.

At first when you initiate a trade, the stop loss could be set at -10% (depending on how much you're willing to lose) but as the coin continue to increase in prices, so should your stop loss and in this way you turn your stop loss into a take profit order and this prevent you from losing on a trade.

Non-news hours are not their cup of tea for the traders who prefer scalping or short term swing trading. Limit orders along with stoploss will definitely a powerful weapon on news hours if your technical analysis are good enough to predict the directions. These all are about the level of risks, you are affordable to manage.

We do call it "trailing stoploss". This way pro traders never have target levels but they accept their profits at the stoploss levels.

Yeah, if you keep increase your stoploss order along with market prices then after some point, your stoploss order will become higher than your entry. When the sentiment of market changes, it will come down and trigger the stoploss order and then those pro-traders will go for shorting from that stoploss levels.

I suggest everyone to use stop-loss feature but I still think it depends on what kind of personality you have.
1. Are you a person who can risk his capital for planned profits even if something doesn't go the way he wants, go va bank and wait for years if necessary? (Reminder: There were some people who sold houses and bought bitcoin back in 2017. They thought that they lost everything but if they waited for 4 years, then they would see 3x profit).
2. Are you a person who gets anxiety and the rash of jittery adrenaline when something doesn't immediately goes the way he/she planned? If yes, then you need stop-loss feature or better forget trading.
3. If you are between these two, better to use stop-loss and improve your trading and research, analytical skills.

I guess most people are this kind of traders like they might have some capital for long term holding and some portion of capital for aggressive trading. I believe that when to use stoploss orders and not to use is highly depending on what kind of asset we are trading/investing. Usually high potential assets are good for long-term trading hence we will never need to go for stoploss order for this kind.

If you're going for only on technical analysis then you should go for strict stoploss as market may fluctuate at any time.

I think stop-loss is the most important part in crypto trading, which we know crypto prices are very volatile and very difficult to predict. Therefore,
the risk of trading crypto is very high, a stop-loss feature is needed to avoid big losses. Never be afraid to use the stop-loss feature when trading
crypto, because it will save the capital we have from being completely lost. It is true that our capital will be partially lost when using the stop-loss
feature and we will lose temporarily, but we can replace the lost capital by buying coins at a low price. Then when the price goes up we can generate
profits that are far greater than the losses we experience. Indeed sometimes sacrifices need to be made to be able to generate large profits.

Yes, that's what you need. Stop loss is a good tool, especially when you are away from the charts. But, I suggest you to try manual trading for now. Learning stop loss feature can be done later on. But, if you are already struggling to trade manually then it's time for you to use stop loss. It is a good thing to cut your losses and can surely earn.

stop loss can control our trading, we must try to trade in a structured way, so that our trading is not based on emotions within us. on the other hand we have to place stop losses in a measurable way, so that we will have our account development also according to plan. Everyone will certainly have experience when placing a stop loss, and we must always evaluate it

You will definitely stop losing money if you have a stop loss enabled in your trading account. It's going to be easier for you to manage losses and possible negative results that you may have because of unexpected market movements that could affect your trading positions and limit.

It really depends on the strategy that you may have because some strategies don't use any stop loss feature and just average out a position by buying more. It's just that you need to have a bigger balance to make sure you are profitable with this type of strategy.

Limit order "could" work for your favor, but it is not working when you are selling while it is going down. If you ever put a limit order under what the current price is, then the order will be executed right away, that is why limit order doesn't work with future caution. You need to basically use limit order to buy lower, sell higher without you being there, and on top of that use stop loss to sell when it goes under a certain level to get out when you are not there. Stop order is basically insurance, are you in profit? Great then you should put a stop order above the profit limit so that even if it goes down then you will sell with a profit and get out.

I have used the feature for quite a few time recently and have realized that the features are best for people who are not always online to monitor the trades, and will want to cut loses when the market go against the set limit.

when I read this topic for a moment I agree with you because the Stop-Lost feature is only available on stock exchanges and not on cryptocurrencies.
After that I looked on Binance Exchange about the stop-lost feature and I found it very interesting to apply it to every trade to prevent big losses. even this feature is very helpful to keep the emotions of traders in seeing market price movements.

If this is first time you are using stop loss in crypto market, make sure you know where to put the stop loss. Crypto markets are very volatile and exchanges hunt for your stop losses. I usually put the stop loss in my mind specially in the futures market. How many times i have see that prices dump and wicks are made only to eat your stop losses and then the prices move back up.

You mean that you will keep your stop-loss levels in mind and when prices are coming down then you will exit your positions? I remember MT4 or MT5 platform is having a feature like hidden stop-loss which will make exchanges unable to watch for your orders but not sure how effective still you may have peace of mind and you can go for stop-loss order well in advance.

When bitcoin market in the overall positive trend then you can keep your positions without any stoploss order but if you're trading in leveraged environment then you should go for stoploss orders otherwise your position will be auto squared off to cut losses not exceeding your total capital.

I always use stop loss and sometimes stop limit.
Stop loss order really help you to control the risk.

Using stop lose those not mean you are going on break stop lose means whenever you are on trade and you want to cut your lost incase if your trade goes side way it Will reduce your lost. Not everybody really prefer using stop lose for example like me now if am into stop trade I don't really use stop lose because I believe if am holding a good coin like bitcoin, Ethereum or BNB I believe they will definitely recover but if am into future trade I don't really joke with my stop lose to cut down my Lost and to avoid liquidation.

I do hear about this tactics more frequently to hide from manipulators or from exchanges but not sure why and how such types of trapping are more commonly happening. I guess when there would be enough volume then I guess we can freely place stop loss order well in advance without worrying about a spike just up to our stop-loss levels.

Always placing stop-loss orders will help because for example, right now bitcoin market is bullish but slight pull backs are more frequently happening time to time hence we cannot be sure about auto squared off in leveraged trading. Spot trading with bitcoin definitely not requiring stoploss if you are ready to hold.

The real work in trading Cryptocurrency is ability to master your mind and your emotions.  This ability will not come with stop-loss but you will be able to use stop-loss if you have trained and you have disciplined mind and emotions!  Work on yourself and trading profitably will come to place!

For me, what I observed on this forum or read on some chat channels about Telegram even on different social media/trading groups. There are some people hate stop loss, it's likely they are blaming stop loss for having loss on their trades. They don't think that it's their saviour for getting huge losses or in worst, liquidation.

So from my own experience, stop loss feature is good and always be your friend.

You sound like you are in search of trading bot to trade for yourself. Basically, for stoploss and for target orders you can place orders well in advance and then it will trigger when markets move toward. But in highly volatile conditions if you put both then there are possibilities for triggering both of them (very few platform offers options to have both stoploss and target on same order hence when one gets triggered then the other will become disabled).

Traders do hate because sometimes stoploss will trigger just for a spike and then market will move as per their predictions. But, we cannot do anything about such situation but must work on having stoploss order only at trend reversal point.

If you are going for a long term trade then why do you need a stop loss? You can use stop loss for trades when you do an analysis it's like a safe net for a dump it's actually an optional but it was highly recommended and very powerful tool in trading. If you want stable coins then you can just leave your money to stable coins such as USDT, DAI, BUSD and other stable coins that is not volatile.

I guess, it depends to the people if they will use it or not. As I observe, those who uses stop loss and stop limit are for short term trade because it can really control risk. But, I guess there are also people who uses stop loss even they are trading for a long term, it depends I guess, because, stop losses put limitation on loss in trading. So it is very useful. But, the most important is you have the ability to master everything in cryptocurrency, your mind and emotions, you must control it.

Different people must not need to be having same opinion and this way as per my own experiences stoploss is definitely a handy tool to save ourselves in order to get ready for another encounter regardless of how worst our prediction went in previous trade.

Unlike many people do assume, that without stoploss they could recover from losses, I feel like accepting your losses at minimum levels will help you to come out of frustration which will definitely help us to plan better for future trades. There will not be any restrictions on number of trades we may make per day then why should we worry on closing one order and then may make a new trade if our signal favours.

I think this is not right IMO because as far cryptocreency is concern ,it is very volatile and trading commodities and currency is also too. You can leave your trade open even for long term,it can be swallowed up. Imagine the volatility nature of bitcoin and moving $6,000 difference from your entry point in a day and continues from the next day around $4,000 more in the week, you see it is dangerous not to include stop loss in trading. Whether long or short term trading requires the use of stop loss to avoid accounts going off while you don't plan to.

If you meant when you said "being away" is not looking on your Trades for couple of days or a week, then it's neither good nor a bad move. Trading requires a lot of time to monitor your trades, to make technical analysis to increase your chances of winning, stop loss feature is just for automatic closing your trade at the price you've set it'll stop, that's it.

For me it's not really helpful especially if you're a full time Trader, because sometimes setting the wrong stop loss could also means losing your chances to make profits.

Yes, it depends from how traders understand the risk, with the kind of high volatile market, crypto traders who perform short-term trades are mostly the one who use stop-loss feature, this tool helps them to limit huge loses in case that the market position that they've taken is not favoring them, it will limit huge loses and give them enough time to try recovering those loses. You need to go deeper before you use this tool in order to maximize the worth and not to lose your chances of earning.

Yes, OP is about to find a method to close their trades when they are unable to watch and close the order. I guess it would be on either side like it could be on target side and stoploss side as well. So, I guess going by any automated way of executing orders on behalf of manual trading must be an appropriate solution here but OP is concerned about only stoploss side hence I doubt they are into long term swing kind of trading hence they not in need to close while reaching certain profit levels for their open positions.

Personally I will not look for any automated way of closing options as I instead will go for mobile version or will keep my laptop ready to watch and close orders for the case of if I will not able to trade from my PC. Just a reliable way rather than going for ad-hoc solution on demand.

You are talking about the stop loss orders I guess. If you want to use them you should first be careful about the slippage and then favor stop limit orders over stop loss market order. Because if the price crashes and bid orders are all removed or taken your stop loss can be executed at a very low price because of the slippage.

Usually I don't use it because I know myself when to stop and when to start the trade again. It my sound very very funny but whenever I put any trade in the stop-loss function I would be tracking the trade multiple times to check how it is doing. (Time waste 1st). Then I will check whether I am doing good or not, if I am doing good then I will just stop the stop-loss function and move the window to higher one so that I can just have more profits. (Time waste 2nd) Lolz. If I am not doing great and if it happen to go on the negative side then I will give it little more window to check if the coins gonna pump or not. (Time waste 3rd).
There you go, stop-loss be like why the hell I am active?  ;D
I can't control myself. If you are like this then no, stop-loss isn't for you.

This must be the exact solution which will address as per what OP mentioned here. Just taking the market wherever we roam, will solve the need of automation as you are the one who will decide and open the trade. But in automated trading, everything will be happening out of control which means our analytical and managements will not be having any role in decision making. People do assume that they need automatic methods to exit at stoploss but practically we can place orders to get executed at stoploss levels on its own. I guess there would be no exchange or platform will not support placing orders higher or lower than market prices.

Using stop loss will depend on the market situation. If you think that the market is not good, you can use the stop loss feature at the price you want before the situation becomes not good and make you miss the right time to sell your coin.

For example, when bitcoin at $62k and there is a sign to go down but you are not sure if the price will drop, you can use stop loss at $61k-$61,750 to sell your bitcoin so when the price really down, lower and reach on that range, your order price will be fill. After that, you can try to buy back at another lower price, depending on how deep the price will go down. The Stop-loss feature can prevent the big loss that you will get if the price drops significantly.

indeed this feature is not mandatory for every trader. I think the convenience of each trader is more decisive. in essence every trade has the same goal and with different targets for each trader. Therefore, if we are comfortable without using a stop loss, we may be able to do a cut loss if the market is outside the support area, so that the trading strategy can still be executed properly.

The aim of the features is to monitor and execute trade on your behalf, the stop lost feature is where a trader set an amount an asset can fallback to let say if you set $0.5 as a limited for a coin or token once the price fall to that price the trade will get executed automatically.

Simply when you are being tired of watching the coin again and again and you didn't have much time for that, then strop loss will help you a lot, put the stop limit there and just do your work, but should be set the stop loss at a place which you want to be agree, so it will help you a lot and can prevent from more and more loss.

What do you mean by "agree"? A price level that we are not expecting to happen? A common practice must be, placing the stoploss order is recommended to be placed at the trend change price levels which means if such a price level is reached then we cannot expect the market to be getting back in our favor. So, I understand that you are referring by "agree" a price level where the changing of the direction of market happening from our prediction.

Cutting the losses manually at the time of such prices happening like breaking the support levels and then market enters to bearish mode completely then you must need to watch market continuously. Usually I do not prefer to watch the market once my position enter in negative direction hence placing stoploss order well in advance is better option for me.

I think you mean stop loss feature, I think every good trader uses the stop-loss feature, some people use it for entry when they want to enter on a breakout and also use it for exiting the trade whenever they want to exit on a breakdown. It's a pretty good feature and must be used by every trader but just like other things in trading you get the know-how of using it only after taking a lot many hits on your capital. The problem with these features is that there are tools that many whales use to track stop losses in the market which they then try to hit and reverse the market immediately after hitting that point. So you need to know where to place your stop losses, under which psychological supports should they be placed. If you learn all this, you can avoid stop loss hunting by whales to some extent and this feature can be used nicely.

Well, if what you’re looking for is a tool that is going to help you to avoid loss in the market when you’re not there to watch your screen, then the stop loss tool is going to do just that for you. But, I do see people who complain that they don’t like the stop loss tool, because it makes them to miss out on opportunities that would have fetched them money after the market quickly goes up after the decrease that activated the stop loss.

Well, what these people are not understanding is the main purpose of this tool, which is simply to prevent your losses from going further when you are not there to watch your screen. If you think the tool will be helpful to you, then you can go ahead and use it.

It doesn't matter if you're trading for long term or short term, stop loss is always a very important tool to take advantage of. It helps protect you against market volatility that put you at lost. If you're holding then take your coins off exchanges and keep in your private wallets. You also have to understand that stop loss doesn't always means you have to exit the market with minimum lost.

Stablecoin are volatile but at minimum, stop loss shouldn't be undermined, in a market as volatile as the cryptocurency market it has its role to play  if 90% of the traders did understand how to use this tool effectively. They wouldn't be in the situation that made many end up losing to the market resulting in a quit from trading.

For long term, you may wait for bounce back of market direction hence stoploss may not be needed for long term holding. This is the usual practice at least for bitcoin long term trading which may last for years.

Yeah all volatile markets must need stoploss to protect capital from big losses. Failing to execute stoploss at trend changing price level might lead to quit trading if the trader unable to get some more funds to continue trading. I had such bitter experiences in forex trading and then finally got into bitcoin trading with long term holding plans where I never need to worry about negative direction of market and stoploss.

I see your point and I'm sure is not only you who noticed that. There are traders who hates this tool as they are missing opportunities.

They forgot that the market is highly volatile, a quick spike already made them lose those good chances of earning decently.

Before you use this tool better to make sure that you are well informed about the strategy that you'll going to input, it will help you a lot not

to missed those chances but rather you'll be able to maximize your projected profits.

Well, except that we no longer have to spend time twirling around charts and prevent the wound from expanding, this feature will at least help us stop being too hesitant, become more decisive because when we see the loss with our own eyes and then issue a stop loss order, it is very normal to feel shaky and not dare to do it, undeniably failure makes us less daring to face. Stop loss will indirectly reduce the pain of loss, not seeing too much will not feel regret, this tool is automatic and no emotion

I get your point like we need to go for stoploss without giving any room for emotions and this way, we may not need to regret when the losses are at minimum levels. Yeah, I agree that overall stoploss orders helps us to reduce the losses which must be great thing when heavy losses tend to give us more pain.

People hate stoploss when they watch about bouncing back of market direction after triggering stoploss levels. In my opinion, it may happen when you place stoploss within trend. You must place stoploss only beyond current trend then most times market will not trigger stoploss if there is no change in trend or may not bounce back after triggering stoploss (new trend will continue).

There is a way you have to make exclusive protection for the function and not lose, in my case I do the following:

1.-I place Stop Loss.
2.-I place Take Profit.

The trading that must be done is in the medium and long term, when scalping the trading technique or strategy does not work, in this case I think that the loss functionality decreases substantially. When you trade in this way, you save a lot of time, of being on the PC watching all day, and you can leave the orders with peace of mind.

This is my way of trading when I take cryptocurrencies that carry some history, on other occasions I have done well in the NFTs.

The main purpose of stoploss order is cutting the losses at possible minimum level so so if you are finding losing even small amount of your capital is so much of paining then you are not eligible for trading at first hand. First you must need a level of maturity to accept losses because losses in trading is inevitable.

Overall, you must need to find the purpose of stoploss like when you are not exiting at stoploss level then there would be a chance for losing all your capital within one trade it means you must need to go back for arranging new funds for continuing your trades but stoploss help avoiding that kind of situation.

Not only while we being away, because for now trading activity can be done in mobile too. Maybe will be used for something that we really can't avoid to do like sleep, of course we don't want to get liquidated when we are sleeping, and maybe if really worried that market will move againts what we aim.

Stop Loss is a good Features And this features has all the exchangers. This often works well when the market crashes. We should use Stop loss coz it will Shield a big losses.

What is stopping you while you are away or on the road to put the mobile version of the exchange on your phone and calmly trade at least every minute? After all, now the whole community, in my opinion, trades through a mobile application, when there is no time for a computer, and so on.

Indeed. Stop loss minimize your losses and also those risk you might possibly encounter when you trade. But I think it will depend on the people if they will use it or not. Stop loss will be a big help also when market crashes. Stop loss will indirectly reduce the pain of loss, not seeing too much will not feel regret, this tool is automatic and no emotion

Always try to use the stop loss as much as you can, it has the feature of binance which can help every trader in order to keep the trader away from further loss even when he is doing some other work and don't have that much time to look again and again to the coin which he has bought or even he want to buy, so I would be better to use indeed at that point.

The crypto market is very unstable and prone to sudden rises and falls. Stop loss is an important part of cryptocurrency trading. Setting a stop loss before trading can avoid huge losses due to greed.

Actually the stop-loss feature is only used by traders who make short-term trades, so they can minimize losses if the market suddenly drops.
And the trader can buy again at a much lower price, but for investors who do invest in Bitcoin for the long term, there is no need to use
the stop-loss feature. Since the investor is not worried about the Bitcoin price falling, he will not sell it until the desired target is reached.
So ask yourself, do you want short-term trading or do you want long-term investment.

Then regarding the stop-loss feature, it is now available on several exchanges, one of which is on Binance exchanges, it is very helpful for traders
who really want to do day trading. Therefore, with the stop-loss feature, it is very helpful to avoid large losses, as you said not everyone can check
the market all the time. Because sometimes there are other activities in the real world, which makes us not have much time to pay attention to
the market. That's the importance of using the stop-loss feature, except as I said before we really want to invest in the long term not using
the stop-loss feature is not a problem.

Yes, I think the stop loss feature is a solution for traders who don't have much time and it's very helpful for sure,
moreover nowadays it seems like more and more exchanges are providing the feature,
this is a good step of course and hopefully later there will be new features again

It is undeniable that the value of cryptocurrencies is highly unstable. You have no way of thinking that what the price will be. As a result the newbies frequently utilize stop losses. It is a tool that a person uses to overcome the risk of losing money in trading. However. how the user uses this tool is entirely up to him. This tool has the potential to be good but  it has also the potential to be dangerous.

In my opinion using a stop loss is a must, it is impossible for a person to monitor the markets 24/7, there are markets like the stock market that in theory can be monitored by humans as they open and close at a a certain hour and you even have free weekends, this does not happen in crypto, so you either close all your traders when you know you cannot give any attention to the markets, like when you go to sleep, or you risk a huge movement happening while you are sleeping and losing a massive amount of money if you are not using a stop loss.

Stop lose features is mostly useful to newbies in trading who might not have the needed skills to monitor their trade at all time and those who are not active in trading who spent some of they time off trading and this feature help to executes trade on their behalf.
My friend have constantly used the stop lose feature and its really helping him to avoid lose.

Stoploss could really be that relevant into those who do make out some shorterm trades too and not only just for those idle or long term swings
because this is something a good or useful tool when you do make out short terms too but honestly it would really be depending or according into
your needs because this isnt anytime needed unless if you are really that conservative when it comes to your capital and tending to spend a small
percentage and able to handle out some good risk management.

Not only to newbies but for everybody. It's very important that you use stop-loss feature if you're not at your computer most of the time. This is good for those working people that also trade whenever they go home or they are at their free time.

It's not avoiding lose but it's about how you minimize your potentially losses and that's good for your friend if he maximizes the use of it.

Traders and investors must always use the stop-loss feature so that they avoid losses. Every human being must have bedtime and vacation time to please our mood, at times like that the role of the stop-loss feature is very useful.
As at this time the price of Bitcoin in the market often goes up and down so we are always anxious and careful in trading.
With the stop-loss feature we can be comfortable in trading and in general all exchanges must use the stop-loss feature so that users are not easily harmed.

Well the stop lose features does not only apply to newbies alone but also members who ate not always online to execute a trade when the market is going against them and in other to limit the amount of lost most traders adopt this features. But why I mentioned newbie is because of the fact that mist expact traders know about the stop lose manually by monitoring they trades.

The main purpose of a stop loss is to ensure that losses won't grow too big and hence you should use this strategy with utmost care.

You are right but practically I am not going for stoploss levels for my trading well in advance but only when market is coming down near my stoploss levels then I will exit. This may sound like I am not making use of stoploss feature with care but I am just watching market noncontinuous after opening a position then I guess I am still taking care of my trade with all my sense.

Previously I never opted for going for booking at losses like I will leave off my position so that market will come back to get me some profit before exiting. But, that way I have lost very big money when bear market are more dominating. So, now I guess I am into right track by exiting at stoploss levels even I am not placing such orders before hand.

A stop loss is useful for any trader not only newbies, a stop loss is there to help you minimize your losses and this is something that benefits every single trader regardless of their experience level, if anything a stop loss can be even more important for advanced traders as they will have the tendency to use leverage, and we know that leverage can be incredibly dangerous as we know the losses can be multiplied many times over and without a stop loss a single correction in the price can be more than enough to make you lose all your money.

potentially good because it will stop more and more losses . The use of the stop loss feature is only an alternative and is not to be used regularly. it just stops the loss when there are some emergency things you need to do and don't have time to monitor.
The stop loss feature can be set as desired.
not only beginners who need stop loss but all traders need it because this is a tool that can be used by anyone to stop losses on trades automatically according to the settings that have been made.

As you say, the stop-loss function can act in both ways, and it is up to each user to ensure they utilise it to maximise their position. It is not that the tool itself is not a good thing, by all means it is great in keeping your assets safe and your mind at peace, and so as with most things in trading or otherwise it is about its use. Many traders I know take advantage of this feature, and I too agree it shouldn't be overlooked.

Its a tool which does have significant use and the positive or pros does outweighs its cons if you do ask me because this do really stops on wrecking your capital in whole and able to stop on wiping it out.

You could only say that it is a mistake or not a good tool is on that you had missed out on making profits if it turns out to have some rebound after the SL had been triggered out.

I had already experienced this one thats why you should really be wise on where you would be putting those stop losses for your benefit.

Yes, I do make use of the stop last feature for trading at times. It is quite a useful tool for traders, because it will help you to be able to manage your risk while trading in the cryptocurrency market and to cut short your losses. it's hard to predict when the market will go against, so you might end up losing more than you have expected. But with the stop loss feature, you can be able to stop that loss from going further more than it should.

Although I have seen some people who said that they don’t like the stop loss tool, because sometimes the market do reverse back up, and they end up missing an opportunity of earning when the market reverses. So, anyone who is making use of this tool should understand that it is simply meant to stop your loss.

Yes, talking stop loss is a very nice feature for those of us who own very large stocks. this can prevent big losses on the assets we invest. But for me, not all trades are suitable for me to use stop loss, sometimes the decline occurs not for long. because the analysis shows a market revival can occur, so it does not cause losses.

If you are sure about market bounce back then you never need to go for stoploss order. Stoploss feature is only for preventing big losses and unrealized losses could be managed with sufficient capital and moreover for the case of spot trading you never need to worry about temporary negative market movements for getting liquidated.

This kind of scenario might be happening when you are not having good technical analysis. It means your stoploss level is wrong. Your technical analysis should be capable of covering possible market ups and down and this way, you should have clear idea about overall trend.

A loss is a loss , if you forced yourself to follow the trend especially the downtrend as you expect a market revival .. then this is a point where most newcomer doing it wrong , you better accept the wrong prediction by some losses and this is a stop loss job.

start over and regain back what you have lost is the correct and wise way to trade in discipline.

That is called a whipsaw and there is no doubt that it can be problematic especially when the market is volatile but at the same time is ranging, however I do not think that not using a stop loss under those circumstances is the right call, I think it is better to diminish the size of our position while increasing the range of the stop loss, this way we  do not lose more money and at the same time we give more room to our trading system to deal with markets that are showing those conditions.

It is always good to use the stop loss, usually most people use the stop loss to minimize losses, and if it can be used, but it can also be used to maximize profits, in the case of Binance when we have a position In Long and we do not have the option to protect ourselves with the stop loss and the take profit at the same time, we simply run the stop loss where we want the profit to be, it is a simple technique, with the only disadvantage that you have to be aware of the movements.

correct!. Some say it's not useful. Well i think it depends if you're holding long term but when it comes day trading it not really safe to be honest and like what you said liquidation?  Yhup that always happen actually especially to those newbies who take all the risk in future trading. Lol without knowing market isn't perfect wherein not all the time our strategies well be good in it, that's why I'm very thankful that someone build stop loss in order to protect traders from volatility of the market.

Stop loss can be very important in trading with which users can overcome the chances of failure. If once users determined about the condition of market then he just set the stop loss and in this manner there will be less chances to loss money. Cryptocurrency has no surety about the price therefore stop loss can be a better option to lower the loss.

Very useful when using it in a daily trading practices, the sway around this market is hard to predict.

Using stop loss will allow you to adjust. It will also lessen the chance to lose a lot when you set it up the right way. But it's true, when you are here

and you are dealing with long-term holding. There's no need for this feature, as long as you have your target and you are following the system that

you create for your investment, it's always have a good chance benefiting from this business.