Stop loss

[jeffytune]

How do you place stop loss on trades in different exchanges because btc prices are usually very volatile compared with fx market and wicks can easily touch both extremes but still close in range like we saw on 10 Mar?

[Idrisu]

How do you place stop loss on trades in different exchanges because btc prices are usually very volatile compared with fx market and wicks can easily touch both extremes but still close in range like we saw on 10 Mar?

You can get advanced idea on how stop loss work at babypip. Like you said bitcoin and crypto currencies trading is generally volatile and you will be losing money placing you stop loss at support or resistance. I do advised one should place his stop loss 5pip after support and resistance.

[mindrust]

Stop loss don't mean shit in volatile markets like btc/usd or altcoins/usd. They meant to be used with stock trades or strong currency pairs like USD/EUR, GBP/USD etc., so you can get protection from huge movements. If the markets going up and down like a jumping spider, no stop loss gonna  save yer ass.

[OmegaStarScream]

How do you place stop loss on trades in different exchanges because btc prices are usually very volatile compared with fx market and wicks can easily touch both extremes but still close in range like we saw on 10 Mar?

Since converting your BTC to fiat and vice versa could take some time and fees etc...I guess using USDT (Tether.to) could be a very good solution in this case, since It's stable (1usdt:1$) and backed by traditional currency in their reserve.