Help! Stop loss

[Nevaehp]

Hi, I'm new to crypto trading and I'm trying to figure out how to set up stop losses for small cap alt coins when I use a decentralized exchange or when my coins are in my wallet. Do I use tradingview or another website or app for stop losses and when I get a notification swap coins or sell? I'm really confused. Can you only create stop losses on centralized exchanges? If the centralized exchange does not have the alt coins that I'm trading how do I create a stop loss for it? "ELI5"

[Stanlo]

How can you stop loss in your wallet? All your coins are volatile except stable coins, if you want to use stop loss feature you have to use centralised exchanges that have stop loss feature, for example binance, stop loss is only available when trading and the only way to avoid drops when holding coins is to swap or sell for USDT

[khiholangkang]

I have never heard of Stop Loss for DEX, which I know stop loss is only in CEX, if your token is not in all CEX maybe you should be diligent in monitoring the price of the token you have so you don't lose the moment.

[xianbits]

Hi, I'm new to crypto trading and I'm trying to figure out how to set up stop losses for small cap alt coins when I use a decentralized exchange or when my coins are in my wallet. Do I use tradingview or another website or app for stop losses and when I get a notification swap coins or sell? I'm really confused. Can you only create stop losses on centralized exchanges? If the centralized exchange does not have the alt coins that I'm trading how do I create a stop loss for it? "ELI5"

Yes you can only do it in centralized exchanges.
But wait, what do you really mean about "stop-loss"? I'm afraid we have different understanding about it.

[jrrsparkles]

Hi, I'm new to crypto trading and I'm trying to figure out how to set up stop losses for small cap alt coins when I use a decentralized exchange or when my coins are in my wallet. Do I use tradingview or another website or app for stop losses and when I get a notification swap coins or sell? I'm really confused. Can you only create stop losses on centralized exchanges? If the centralized exchange does not have the alt coins that I'm trading how do I create a stop loss for it? "ELI5"

Stop loss is an feature available at the centralized exchanges so you can only make use of it if your funds are in Their wallets and you create trade orders for it, if I am not wrong.

[Ucy]

Not sure about stop loss on decentralized exchange. I suppose this can be done from wallet/nodes you control , but you'll have to factor the fees which are typically "expensive" for fast transaction.
I probably would rely on notifications in place of automated stop loss if I there is no easy way to trade using the stop-loss feature on truely decentralized exchange/wallet, but transaction fee has to be really cheap and the transaction fast for this to be viable.
 I would be surprised if the automated stop loss hasn't been built already for truely decentralized exchange.

[akirasendo17]

if I'm not mistaken it is set to avoid losing a lot when you are trading, there are some exchange who does not have this feature, one exchange that I have known have this is Binance, and you can set it up to trigger to sell your holdings if they reach a limit price for example 1 USD but the current value is 3 USD, it means that if the price goes down, and hit your limit it will sell for the price that is set there, Binance also have a tutorial regarding that, it's a bit complicated but I think you can understand it, I think its best to post to the trading section under economy.

[livingfree]

when my coins are in my wallet.

There's no stop loss in our wallets.

If the description that you're saying is the plain wallets where we usually store our coins, there's really no feature to be found for you to stop the loss that you're going to see at the value of your portfolio if the market drops.

Market goes up or goes down, there's no way to stop its increase nor decrease.

[Altcoinsintel]

Hi, I'm new to crypto trading and I'm trying to figure out how to set up stop losses for small cap alt coins when I use a decentralized exchange or when my coins are in my wallet. Do I use tradingview or another website or app for stop losses and when I get a notification swap coins or sell? I'm really confused. Can you only create stop losses on centralized exchanges? If the centralized exchange does not have the alt coins that I'm trading how do I create a stop loss for it? "ELI5"

What is this post all about. Makes no sense. I think that you shouldn't be trading at all if you can't understand which exchange has the tokens you want to trade.
Man, you are missing a lot from the basics, you need to start reading and observing.
If you want to find the exchanges a coin is traded on, look at coinmarketcap or coingecko, these indexes have everything, even the links.
However you want to trade small caps, this comes with a variety of dangers you should first learn.

[CryptoLogo]

Frankly, I have met such an implementation on decentralized platforms only in one place.

https://trade.dydx.exchange/trade

Take a look, the product was recently launched, and there is a stop loss tool implemented there.
In addition, there is the possibility of margin trading, which you should be very careful with.

[mamesso]

Stop loss what do you mean .. ?? Please make your point more specific so that the users here don't fail to understand.
If you mean stop loss in altcoin trading, Do not allocate all the funds you have to one particular coin, prepare some of the funds you have to buy other coin, if one of the coin you hold have decreased, then you can Take Profit from another coin.

The adage says, Don't put eggs in one basket, if the basket falls, the eggs will all break.
When you enter the crypto market, that means you are ready for all the risks that might occur. The crypto market can offer you a lot of profits and can also make you lose in a short time.

By setting the take profit and stop loss level, You don't just secure your funds for the future. But it also makes you disciplined and doesn't give into fear or greed.