Bitcoin Forum

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

If you aren't comfortable with the price dropping so much then yes you should use a stop loss.  If you are willing to hold bags and wait things out that is fine as well, depends on your trading style.  However, if you want to trade more often in order to try and capture more profits you will want to use a stop loss so your money isn't tied up in positions that are losing.

Yes stop loss is very useful to use to avoid big loss,  crypto market open all the times and we are not possible to watch the chart every times. Price of crypto really high fluctuation and unpredictable,  so stop loss will help to avoid loss.  In trading I always use stop loss and take profit by 1:3, that mean if stop loss 5%, and then take profit should be 15%.

Based on my experienced in crypto trading, stop loss is very worth because this feature possible to cut the loss immediately. In my trading activity i has been did not use stop loss and when the price down 20% just afew hours i did not cut loss it and waiting for the price back to going up, but the price keep down and down and my loss become bigger, and if i use stop loss like 5% so i will only loss 5% and i can buy back in cheaper price so i can recover that loss when the price going up again.

of course. Never neglect small amounts, because most of our traders are losing money because of the small downs of the market.
We need to be careful in trading. Let's look at every index and make our portfolio the lowest loss, that's a good trader.

Well for me it definitely is. Especially if you don't have that much to spare. It's part of managing the risks i take which is already quite high enough with trading and holding. It can be your safety net to avoid excessive losses.

For most traders, the decision to put this stop loss is an uncomfortable choice. Why? because that means they have received the loss. However, every trader has the right to decide for himself which trading model best suits him, whether by using a stop loss or ignoring it, it returns to the trading strategy used by each trader

With this sentence above you have identified the main reason why a stop loss is worth it: "To save you from big dips." Depending on the platform you trade on, it may or it may not get triggered. But most of the time it will prevent you from losing all the profit you have made. The other side of the story is that stop losses are visible on the platform you trade on. The big players know where the majority of stop losses are. They may move the price toward the stop losses to pick them up and provide enough liquidity before moving in the other direction. This is a real danger for most of the retail traders. All things considered, I think it is better to trade with stop losses, always.

To be more profitable we definitely need to achieve the losses more less this will be the only way to get the decision of profit that we have set in our mind so my opinion is in you have entered into trading you need to set all the things before trading on your mind.

Aiming stop loss I think would be a hard thing for the traders,  that's the reason why most of the community in this field of business they always said the the market was unpredictable, even the experts can't read the accurate things will happen in the chart, it maybe close unto it but not precisely achieve it. So, if you are not sure or comfortable on what you are doing, well I guess it is good to hold your coins in a long term than to sacrifice your coins into loss in the end.

Basically the margin in the stoploss trading needs to be around 6% and it also very easy to achieve with the crypto price swigs so it is really worth to do to increase profits but it long term you need to care about the market situation as well and stop or start trading accordingly if you want your profits to be stay with you.

only when we lose we will know the value of stoploss

Sometimes, stop loss can help us from a big loss especially when the big dumping of the price is coming. But if there is nothing happen, and it's only temporary for the down of the price then stop loss will only make us lose the chance for the next increasing of the price. It is difficult to detect or to know if the price is getting drop without a chance to back to the higher price or not and we could only watching closely for the market and sometimes by watching of the history from the coin can help us to determine if the drop is only a flash drop or not.

yes its true we set the stop loss then its sell and again going up

Stop loss can be very useful if used properly amd professionally. It helps prevent excessive losses when a trade goes against you and you are not disposed to close the trade, but could also pull you out of a trade too quickly and you miss out if the price makes a reversal.
The key is using it properly.

Yes it will be more useful when you use this opportunity more profitable in the right way like using the professional thing also helpful you to get satisfied with this but don't make over confident with anything anything will be happen to anyone easily.

If you want to get profits no matter how small then you need to use a stop loss, I know it may look to not be necessary when you are aiming for such a low amount of profits but if you do not do it then you are going to experiment the same thing happening to you many times, you will get some profits and you will lose it all when you make one mistake.

Having a stop loss feature will help you in cases where the market is having a huge drop, when the market had a huge rally last year everyone knew the market will reverse anytime after some time so during that time I made full use of the stop loss feature as I knew once the market crashed it would be a big one. I will not suggest using it with a small price range drop as the volatility level is high.

Alot of trader and investor was lossing money more than 90% because they did not use stop loss. They just confidence the price will keep going up, and decided to hold after loss more than 50% but finally the price keep down more than 90%. If they did use stop loss , so they will never loss too much.

Stoploss definitely worth it in trading we need to minimize the losses in the market so we should keep stop loss whenever we open a trade

it looks like you are stuck in the bear market ;D, I also often experience such things, You have to dare to lose a few% of your balance before impacting greater losses.. Next time use the stop loss earlier..  ;D

Yes, I think a stop loss is definitely worth it if you want to limits your loss. And especially when your profit is 2%, you do not want to lose more than that. Usually when BTC dip, it can be big around 5 to 10%, it can easily sweep your profit away.

This extended bear market really hard to assume, setting stop loss is indeed needed to avoid much bigger damage, with stoploss you'll be able to quit with smaller loss and can comeback the next day and try to recover, without stoploss it can put you in a much deeper grounds making more problem and taking longer time frame to recover, this feature won't be introduce for no purpose at all, we have to take the advantage of learning it for our advantage.

In money management, stop lose is one of the tools we used in trading.  I believe that stop loses is need in other not to lose much especially when the market is going against you and you are not having access to your account to control it.  If you have the time to keep eye on your open position then you don't need stop loses.

Stop loss useful for safe trading but in crypto trading my luck so bad, Sometimes I used stop loss then market hit my stop loss an bounce back but obviously using stop loss the best idea and safety trade system.

If that happens to you very often then it is possible that you are not setting your stops correctly, what kind of method are you using to determine where the stop loss should be located? This is important because if your stops are very close to your entry price then you will be forced out of the market before you can make any profits and that can be problematic.

Use Stop loss is very important in trading activity, that why many trading platform offer this feature. Use stop loss will be minimize the loss from wrong trade, and we have to use it for trading in spot market or in margin trading. Trading is high risk activity because the price off any asset unpredictable, in margin trading our balance can be going to zero if dont use any stop loss and also in spot trading possible lossing value more than 90%.

yes sometimes things like that often happen, this is the reason sometimes I use stop loss not only to not lose too badly but also to take the opportunity to buy back at some lower point of that but i'm not sure if we do something like this right now. Most people tend to sell than buy.

I would say yes, stoploss is worth a try and I'm sure a lot of traders are also using this method to minimize risk. I guess it's boils down as how you're going to take advantage of it. Others think it easy as it may sound.

One advantage is that you know how much money you're willing to risk:reward ratio. You can only leave your computer do something else and just get back to see how you're doing. No need for you to monitor the price that often.

Although I don't like to use stop-loss, sometimes I use it if necessary, and if I think the price will go down, I will cancel my order and make a stop-loss call. It's worth if you know where the price wants to go but if you don't know anything about stop-loss, then cancel the order will be a good choice because you can cancel your order in anytime you want. Stop-loss will be useful to prevent a big lose when the price is down too deep, but you need to know the movements of the coins first.

Depending upon the market situation I do place the stop loss considering how volatile it could be and at times that stop loss was really worth as I had just lost few $ rather than losing a lot of money or else would have to wait for another year or so for the recovery to happen with that coins.

of course it's not worth it, it would be better if you keep holding.
by continuing to hold you can minimize your losses when you sell a few moments to come when a bull run occurs.

If you don't wanna lose much more than you can afford to loss then it will be very useful if you set a stoploss. Otherwise you can hold if market get down if you can keep your patience.

like some of us has said.  We actually needs stop loses put in place in other to reduce loses in trading.  Cryptocurrencies market is a volatile market and it is good we should understand that if we did not put stop lose in place our capitals might be wiped away in a single price movement.  Another reason why we should used stop loses is because we cannot always be with our computer or phone and as such stop loses reduced our risky.

I feel that the stoploss that you are doing will only make you lose, it is better that you can wait until the price rises again and can make all the total assets you have become safe and will get very much profit if the price returns and becomes more expensive .

Stoploss do have its own advantages and disadvantages depending on how you do apply and make use of it with your trading style.When you do make active day trades then
setting up this limit would really be helpful yet this would matter on risk:reward ration depending on your fund management but if you are going for long term then i don't see for it to
be necessary on using it.

If you are already familiar with stop loss, you can benefit from it. Knowing how unsure the market's way are leading. Thus sometimes a stop loss are triggered and your target is hit and it favors your side. But that's how trading actually works. Set stop loss for safety purposes.

It's worth trying to put the stop-loss point due to the very volatile market can swing heavily and destroy all your trading plans for weeks
you can't trust the market movement!! have to play the games in way to mitigate your loss from becoming so bad

I think it can prevent us to get a bigger loss if we use stop loss because we don't know where the price wants to move. It's better we trade safely in the trading. Besides that, we don't have to confuse to see the price up and down many times. But we can also make a buy at a lower price if we don't want to use stop loss and I think it will work well too. Sometimes I used both stop loss and covered my buy order at a lower price than before so I can decrease the average buy price.

Crytos are very volatile I prefers a wide  visual stop loss to a tight one in my trading strategy to avoid losses, a major pullback can hit a small stop loss in trade that might eventually come back to the determined take profit,  although when the price is ranging is tight stop loss can deployed however no trader can predict the beginning and the end of a ranging market.
Cryptos trading is different from forex trading who's volatility and momentum is a little bit slower than that of Cryptos.

With a note that the coin you bought will experience a bad conditions again? but if the coin you buy gives a signal that the price will improve and go up then don't do it, if you want to do a cut-lose then make sure you see and research the market conditions first

if you often trade I think stop loss is important because to reduce the risk of large losses. for the current situation I usually make a stop loss of -5% - 10%

Depends on how well you use it I suppose. If you use stop loss not correctly it could be your worse enemy and if you use it correctly then it could be your best friend. Hence if you learn how to use it you can turn it into your advantage while trading and could help you not get too many losses while trading. However if you use it without knowing how to use it properly then it could result with many not needed losses for you.

My suggestion would be to test it on some testnet type of platforms and see how you fare with it, if you seem to be good with it then continue using it on real trades but if you are losing money because of it I would say go learn it from some people who have used it for years and know how it works. That way you can definitely make sure you are fine without putting your money in danger.

A stop-loss order is essentially an automatic trade order given by an investor to his or her brokerage – only be executed once the price of the stock in question falls to the specified stop price stated in the investor's stop-loss order. Now you don't use a stop loss for a long term investment just like the mistake you did buying and keeping with a stop loss I believe stop loss should be for a short term trader.

Thanks for the tip.
I didnt realize that until lately about the 2 percent daily changes. Yes this could be profitable with a good settings.
recently it went to 8 percent gain. So the stop loss could work but I guess I will still be monitoring it for this big changes that is happening.
But 2 percent is safe enough for me.  ;D

Yes, just like what my mentor said to me. Losing is part of trading and veteran traders does that and they already practiced accepting losing in the process. But you got to have a lot of time or perhaps full time to make it worth it.

Yes, indeed. Stop loss can work if the price still going down and with we monitoring the chart, we can know where the trend will go so we can decide. But sometimes stop loss is not working especially if the bull market happens because the price will bounce after it's down, so our target buy can miss the good price to buy. But stop-loss helps us to prevent a big loss.

Stop loss is should be to use for every trade because we can not guarantee each our analysis will be right,  stop loss will be give advantages to cut the loss immediately from wrong trade so we can minimize the risk of trading.  Trading without use stop loss is the same like gambling because the risk will be very high.

Its fine to put a stoploss but not so close to the current price maybe -10-15% to avoid FOMO. once quick rebound happen there are some instances where market suddenly goes -5% and would quickly recover. -10% is much safer cutloss for me.

Yes, in a sideways markets, stoploss might lead to unnecessary losses whereas I always strongly suggest stoploss for safer trading in a leveraged trading. Moreover, for crypto trading, when you are able to hold your assets infinitely, I believe there will be no need to go for stoploss given that you are trading only highly potential coins which are having assured future like bitcoins and ethereum.

Stoploss is necessary where you are unable to continue trading like leveraged environments. Trading safer is good always, for that stoploss is helping us to prevent big losses whereas for a long term based markets, it seems unnecessary with some conditions. In short, if you are shorting cryptos then you must use stoploss without any secondary thoughts.

On trading you should know Stop-loss because it lessen our losses. If we are not comfortable qith price on the market it's better put an stop-loss order that will help us to stop loss funding. We can't avoid lossing because it's part of the trading world even professional traders feels that.

Stop Loss can help us financially and psychologically and yes it is feasible to apply especially for those who do short-term trading. Panic will occur when the value of our investment falls dramatically which is beyond our expectations. With a stop loss we can at least avoid a long headache when the bear lasts for a relatively long period of time. Stop loss can reduce the pressure so that for the next trading we can do it more carefully.

Stopping loss is depends to the situation if they are going to be worth it or not. Because mostly stopping loss for me is not good because you will not make more profit and you lose some of your money. But if you still to do what you are doing like holding and buying you can have chance to get more profit but you can still invest or keep a coin that you think is potential to avoid losing more money.

If you are a day trader then SL is an important thing to consider. Trading w/o SL can take you to deep loss in one go. Even if someone has set a long term target on any coin still he/she requires to put SL, it reduces the risk of deep dd. If we talk about money management then your risk should not be more than reward, it should be either 1:1 or more and winning percentage should be more than 50%, if your winning percentage is less than 50% then risk to reward ration should be accordingly.

Yes, stop-loss is good to cut losses earlier but for crypto markets it is causing early exit with losses whereas we can be sure about market reversal also. I am in favor of not using stop-loss when you buy bitcoins but if you go for shorting then it is recommended to use it.

One would actually never know the true importance of stoploss until you almost loose all your funds. I believe the feature which allows one to take profit is equally as important as the stop loss feature as it can definitely help us to avoid severe losses especially during crash dumps. That is not to say the stoploss feature doesn't have it's negative aspect just like all other trading features as it can prevent one from earning some profit in case of a subsequent rise in price. My true advise is for all traders to remain true to their instinct and avoid greed.

I always trade with stop loss,and it helps me in more ways than one really,losing is one thing no trader loves,but ironically it is one which is inevitable for any trader,so stop loss helps traders to at least make losses minimal and keeping it at a reasonable level.
Stop loss isn't always advantageous,but it offers more advantages than disads

Alot of trader has been FOMO in the end of 2018 and they did not use stop loss so they been loss much money. No body know how high the price will going in bull market and when the price will reversal so use stop loss is must be in trading.

Well stop-loss isn't really for investors and long term holders but daytraders know that it is essential to utilize this feature especially in a market like this. Hodlers wouldn't have to worry about short term crashes since they can afford to wait longer than other people and this feature may disrupt their plans by exiting early.

Stop loss and trailling stop is should be to use for every trading activity. We have to use it in spot and leverage trading because in trading all our prediction sometimes will be wrong, and to cut the loss from wrong trade we should be cut it by use stop loss feature. Trading without stop loss is dangerous and will be more possibility our balance going to zero.

Yeah I think every trader must have a backup plan like stop loss, there's no way you can hold back for a period of time that you don't
know right? and maybe the price can go down and continue to hurt you? then you should make plan for this.

If i have a backup plan that would be holding the coin if market drastically decline, On my view, stop loss is for those who needs their money or on emergency status. We think sometimes that we need to stop our losses maybe we are just too emotional towards the market but for me stop loss is not really a back up plan it's your end journey for trading though you can back at it anytime.

It is not just for some kind of emergencies but it is one way to avoid more losses. Many traders have applied it with their daily trades specially during bear season but it sometimes not to be effective at all times. We should analyze the market first before doing it.

the name is also trading if we do not use the stop loss method it will be more risky to lose money if the market goes down. so by way of stop loss it's great to keep our money to avoid losses

Actually i maybe 1 of people who not use stop loss, because i don't know it or maybe when i trade in past, i only know buy and sell. In Bittrex i already feel how loss 90% from capital because i keep hold until the coin has no value anymore.

Trading without use stop loss is the same like bring your money to casino, and your money can be going to zero. The price of crypto is unpredictable with high fluctuacion, just like yesterday the price dumped just in afew minute, and we will loss alot of money if we did not stop loss and trailling stop.

Absolutely I would have a stoploss of 1% if your gain wanted is 2%. It will prevent you from losing more capital. Maybe you can put your gain at 5% and your stop at 2%.

It is always good to keep stoploss if you are not watching the market full time, as you have mentioned that recent fall of market has created lot of users loss due to all having long position. So it is always good to keep SL just like you are keeping 2% profit margin, so this way you can lose or earn 2% daily not have to lose high when market is down.

I think you are misunderstanding about stoploss. What you are saying is a sell order rather than a stoploss. stoploss is an order to help you sell at a lower price and guarantee your risk.
You should just put a stoploss and just place a sell order at the same time. It will make your investment safe.

- Accurately, risks and losses will not be a small number if we do not set a stop loss because as you said, this market is always a very high volatility, very fast and unpredictable, and when we don't keep up with the movements of the market, handling our situation is slow, the market will easily take away everything from us, a lot of people already understand this feeling when their only mistake is simply not setting up stop loss. Stop loss is very important, is as a close friend helps solve problems for us when we don't have time to care about the market, traders really need it

We should have this kind of limit, whether you hold or trade. Stop loss limit can help you to prevent from a big loss. I usually have this kind of limit because I know it will be more worth it in a highly volatile market. Don’t be greedy and don’t take so much risk on holding, always think on how to save money than to lose it.

one of the things we all need to know is that the decrease in loss is a win.
we need to know that and need to do that.. decreasing your loss is such a great achievement.

Not really a necessary thing yet even you didnt set up a stop loss and your negative goes deeper you do still have the option to hold it and you wont really lost it as long
you didnt sell and thats the advantage specially for long term aspect trades.
Stop losses is useful but you should know on when it would really be needed to be used.

Stopping lost is sometimes are worth it because people who do way to cut their losses if the market really dump peopleare selling their coins but not mostly it is good because for sure market will get backa again the value and you will not get money because you stop your losses once you take a risk possible get mode money.

Some exchanges have implemented a stop loss system. And this really helps traders where they cannot monitor the market almost 24 hours nonstop. can at least minimize losses for traders. But I think this system is not too influential for traders who are used to trading activities where lost is a risk. And I believe not all traders use this system.

You can stop losses if you have stopped in the middle of the dump trend, and wait until the market bounces back itself. Rather than panic selling and cut your losses it means you've accepted your lose and you can't recover it. Sometimes we can say that it is worth it but no you've already a loss.

From this point where you are sure that you are achieving your target, I think what you need more is to keep adjusting your your take profit since it appears you are doing well to make profit. But stop loss is good too not to lose your total capital at once.

Whales often put up sell walls to lower the price and trigger stop losses.  This is how they accumulate coins for cheap and then they dump them during the next pump.  don't fall for their trap, I would never suggest using a stop loss for crypto because these markets are naturally volatile.

Stop loss valuable for safe exchanging however in crypto exchanging my fortunes so awful, Some of the time I utilized stop loss at that point showcase hit my stop misfortune a skip back yet clearly utilizing stop loss the best thought and security trading

I absolutely believe stoploss is important when you are trading in any capacity. As much as you might want to make a lot of profit, you need to protect yourself from excessive losses. I will like to term the stoploss feature as a risk management strategy and I advice everyone to inculcate the habit of using this feature as it could save you a lot of pain. Stoploss is important in times when the market is pretty unpredictable and we cannot keep up with the price movement. Your biggest mistake will be not to set up the stoploss feature. If you've not tried it till now, you should and you'll be thankful you did.

  Same as now, it is not good to sell or to panic our coin because I am sure market will get back to right path again so why to sell when we have good chance to make profit instead of only sopping our lose, if we see market getting down it is good to buy some more coin at affording price than taking foolish decision of selling our present coin at panic price, I only suggest you keep holding your 2 percent will become 10 percent very soon.

In most trade just like the day trading I believe it's worth it but regardless to long term, is not worth it due to the market can be trickish to predict.

It is difficult to give advice, since I do not know what your style is, but if you lost due to Bitcoin's falls, it is because you do not understand the market very well or if you set a Stop Loss above 10%. which, I suppose ... In my case, my most risky Stop, which I almost never place, is 10%. If I lose, I assume my loss, but if I win, I gain a 3 to 1 ratio with respect to my Stop Loss.

If you are not going to be with your system every time it is very important you place a stop losses order in other to be able to reduce loses in case of unforeseen circumstances that may cause the market to move against your open position.

Uses of stop loss means save your fund from sudden drop or huge loss. You don't need set stop loss all of your trade. Its depends on situation, if there is risk for dump then you could use stop loss. For example any coin start dump after you bought then stop loss is appropriate to avoid big loss. If any coin start pump after you bough then set stop loss on profit will be appropriate. So even coin dump again at least you will have some profit, if coin pump more means you will have more profit.

So it's very important to know when and where should you use stop loss.

Stop loss is one of the major money management tools in trading. If you have limited capital for your trading wallet Stop Loss is your best friend so that you can fight today and come back to fight tomorrow. Without stop loss, your trading capital may be eroded in only one-day trading. Stop Loss can never be over emphasis in trading and money management.

Right, you also have to set what percentage of losses for cut lose, as we know market fluctuations can go down and you can also make mistakes so as to avoid greater losses, then cutlose is also necessary, no matter how small your profit target is.

Stoploss is counterproductive with trading with bitcoins, you don`t do that with bitcoins you do that with some alts that has no perspective. When you stop loss with bitcoin it`s should be like shorting, so you sell and when price drops more you buy again (now you have amount of bitcoins you want and some extra cash left ), but that can be a trap if price suddenly change direction and start to rise. If that happens than you don`t have coins, you stop your losses and sold, you have some money but price is up, that`s not a good time for buying. I hope I gave you nice explanation.

 Stop lose is mandatory if you are a scalper or day trader, otherwise you will liquidate all your account and get rekt. One thing I highly insist on is that stop lose shouldn't be tight and the balance should be big enough to avoid wicks that hit stop loses easily. If you are a swing trader or an investor it's another story and stop lose isnt that important since you are sure about the trend direction.

If you place a stoploss order at the right time and at the right price, you will not have any regrets. I think your big problem is not knowing which stop-loss order to put at a reasonable price. You can create a topic about how to place a stoploss to get people to comment. Maybe you will understand more and get a better strategy for yourself.

If you are just going to minimize your losses, you just need to pause or rest on trading then wait for another time if you feel the market is increasing again. For me quitting after you loss is not an option but an ultimatum decision for your own good if you have lost a huge amount.

If you don't have a lot of time within a day to check your assets then it is very essential to have a stoploss. But in this bear market, downward movement is always the trend so I really don't think that you still need to use it. Just be a long term holder for now and activate stoploss once those tokens soar above the sky again.

for now, the stop loss method must be used so as to overcome losses when trading and now it is indeed great to get a big profit by holding back until the market experiences a large increase

Due to my little experience in trading, there is a learning that I will never forget, as long as I have my analysis done, the first thing I should place after placing the order is the Stop Loss, since in an experience I had, I placed my order forgetting Stop Loss, and the electric fluid service failed for more than 4 hours, at the time of having restored service, I had my position at a loss of -48%, initially the movement did not touch my Take Profit, it came very close, and it went down unabashedly.

In any trading, stop loss is one of the most important tools that need to be in place and active at all times.
The market we are in is unpredictable, I understand you are a good trader and you have studied the market carefully but any change can happen at any time, so it’s best you still set your stop loss to avoid unnecessary regrets and tension, trading has to be with minimal risk to be able to fully get the best out of it.

Bad days really happen when day trading, so use stop loss to prevent any form of big losses.

If you keep an eye on the account and practice day trading without leverage then stop loss is not necessary. I would not use it in these conditions.

Not necessarily we used stop loss strategy if we are focus on trading cause we can always check it's market trend of a certain coin. But if you're not into full-time trader,  using this one will be helpful to prevent from losing badly. But only few of us were doing these since we can either not to sell our coins during dip unlike for those who wanting to get their funds.

Stop loss isn't so good if hit, trailing stop is.
If you keep changing your stop loss every time it hits one of your targets, it will definitely be a win-win situation in the long run as even if it gets back to the original price from where you entered, it will not hit your capital so hard which you can compare while having no stop loss and losing a big share.

stopLose is commensurate if the value falls hard yeah mate indeed you must to take such action, but if your small calculation funds are better the hodl and wait for the increase above you buy because bitcoin is an instability that makes us as traders hesitant to take such action

That is why the author should not see trading like gambling as you said. Trading without stop loss is what creates unnecessary panic selling for a number of people and discourage them from further trading. Like you rightly said, the market is generally unpredictable and fluctuates a lot, the fluctuation might be favoring the author now forgetting the fact that the coin being traded might have a dump price and since there are uncertainties about the coin, hence stop loss is very useful.

Stop loss is your way of protecting your profits when you are not in front of your laptop or desktop to trade. It will place an order for you in case the price touches your desired Sell price. However, you have to be very careful with using stop loss, a minus 5% from your bought price might trick the system to sell your coins then suddenly will price go up. I would suggest a higher margin like 8%-10% from your bought price.

If you're trading in just a short period of time, don't put a stop loss. However if you are opening a market order and you're planning to leave it there as you'll sleep or go outside, then put stop loss so that you're protected from sudden dump if ever the whales want to dump it so.

We must see the situation and conditions. Stploss is not always profitable and is not always detrimental.
There must be a formula that can calculate whether we will experience profits or not.

To be honest, I don't use stop loss because I don't know how to use it.
I'd prefer doing average down rather than doing stop loss since we don't know when a certain coin goes up or down.

For me yes i usually set my stop loss to -10%  so it may not be easily hit when market are just flactuating through consolidation but when market would suddenly dump which we already experienced several times at least my loss is minimal and i can re buy at a lower price.

If you have long term experience in market and you know fall, rise is so common then why to be worry just hold your coin and wait patiently, you wana stop lose but you are selling at low at profit of only 10 percent, then again buying at low price, well I really can’t tell what’s going on in your mind, I only suggest you to hold patiently.

Depends on your tatste, but if I were you I would not put mt money into such a small tartget, you should already be buying all of it by now. Btc is much cheaper than it's price for this past years so this might be the time to rise it up a little bit. Let's wait for big shocking price to happen better save up for now,

Stoploss is just setting the dump price level when you should hit the sell buttom, its easy to do that since you will be the one to assign your loss percentage. Anyway, you’re still doing good on doing averaging. For me, stoploss is very important for a trader since they tend to buy and sell as much as possible but if you are a hodler stoploss is not a big thing for you since you are looking for a long term trend and the price movements.

It sometimes stop loss strategy will be useful when we are not in the full time trader. But for now, it is better not to used these cause we eventually moving forward and better not sell this time. We all through looking for the positive response from strong resistance and it may surprisingly shown up this year.

I myself do not really like to use stop loss because in crypto fluctuations the price movements are very high and if we use the Stop loss then suddenly the price falls then returns to our entry price, then we will automatically lose, therefore I do not like to use stop loss.

There is no problem if you set already the price even it falls hard cause it automatically sold when reaches to the lowest setting price.
I'm not doing it all the times cause it usually I can't made the right timing and mostly I always losing. I'm just looking for the trend and do simply buying and selling scheme, it provides me good profit.

Therefore you must be careful, sometimes the price can turn around after you sell it, the price drops 5% does not mean it will continue
to fall, so before you stop selling, you have to look at market conditions first, whether prices will improve or will continue to bleed

Regardless of the fact that dip occurs from time to time in markets, does not mean that one should not set stop losses in trades. Setting a stop loss in trades is always important in the sense that you may not have all d time to be monitoring the market when a position has been made, and it also helps you lose less when u're losing a trade.

I have never really traded with stop loss. I do not find them comfortable to be honest.  I just buy a coin and place sell order at a comfortable price level,  likewise  selling  and placing a buy order at a comfortable price.