stop loss management

[BioHackerus]

did you think of the automated trading software? I made very good experience working with such.

[SUDARMONO]

it's very good for you to do, because the loss order is very detrimental, and it's better for you to hold or buy a cheap price like this and hold it until the price goes up.

[BTCappu]

The golden rule for me, if you are confident enough in your style of trading is to set a stop loss for a -1 loss, and aim for a profit of +2.

With this risk management, you need not even 50% successful trades to make money in the long term. The hardest part is to stick to this rule at all times. There are thousands of reasons why even the most experienced traders like to deviate once in a while from their risk management rule. It takes mental fortitude to be a good trader.

That is actually going to be something that is applicable more when you are day trading as that gives you an edge on the level at which you end up accruing based on your strategy and the risk reward ratio.

However, for long, short or mid-term traders, I would say the 1:2 Risk:Reward is not something that would work. Certainly I look at more reward than risk to be able to help cut across in all my trades and make valuable profit.

I am not an aggressive trader anyway and i do not take unnecessary risk and this helps me to find a pattern, trade the pattern and stick to my strategy and as long as I see that the reward based on my signal is far more than the risk, then I take it, it does not necessarily have to be 1:2.

[CryptoIyke]

Personally, I place a stop loss at some %age below my purchase price if I am not sure of entry and expect a moon from my entry, this should be the maximum loss I could accept in case market goes against me.

[rumexx]

Stop loss when implemented is the reason why you will stay long in your trading life without experiencing constant drawdown. Stop loss points should have come out from your trading plan. As a trader you must have a plan for every trading day. Part of this plan is how many points will i set my stop[ loss and my take profits. These you must have determined before you enter the first trade of the day. You must have the will to  set the stop loss which is always the problem.

[Exidous]

I think each case has own stop loss point. It depends on your acceptance and knowledge. But I think you should give the choices quickly and clearly. If not, you will waste your time

[qmclak]

Stop loss is good if you have an options to recover your losses.But if not better hodl.But for now i dont use stop loss because i don't do day trading.I feel like more risky to do day trading.To less risk i pick coins that is good for scalping and midterm trades.

[Rohtox]

a lot of discussion about that might be able to look for it in google or youtube article is very good if you want to reduce losses when the market is down. maybe this can help you find some good videos
https://www.youtube.com/watch?v=KQW2x86BH1U
https://www.youtube.com/watch?v=ra9dKSyviLM&t=294s
https://www.youtube.com/watch?v=nZeavIuaXrA

[Diced90]

did you think of the automated trading software? I made very good experience working with such.

Its good for a starters but in my opinion it does the minimal one should do whilst trading. Nonetheless, its good to familiarise yourself with such technology since it will become more popular. They can earn you some money.

[cryptoalfs76]

Good day fellow traders, I'm thinking of using stop loss order in my trades, can you give me some advice how you use your stop loss order?

Actually im  not an expert when in terms of how to handle a  trades  loosing especially in this situation now thats crypto market is struggling bearish situation,otherwise loosing for me is a part of being learning especially in situation a doing trading thats sometimes we must take the risk in order to measure the capability of what our experiment,but one things we should remember like warren buffet said that do not test the depth of water in two feet,thats means to me that in the investment  we must test sometimes  the failure in order to learn,but we must analyze the trading day by day so that in the future  we could not commit mistake and could not commit again a loosing in our trading investment.

[brightMan]

Good day fellow traders, I'm thinking of using stop loss order in my trades, can you give me some advice how you use your stop loss order?

Anyone here that is trading without stop loss is making a big mistake. I have seen a lot of traders, especially new traders, who trades without using stop loss and at last they will start looking for what to blame, while they are supposed to be blaming themselves for not setting their stop loss.

Not setting up stop loss is the worst  mistake a reader can ever make, because you never know when the price will fall. So urs best to setup your stop loss so that you don’t lose too much of your money when the price starts to fall. There are already lots of links here, don’t need to post more.

[Adrin]

Stop loss management it is a main part of cryptocurrency trading. if you don't know how to management in stop loss trading I think you can make a profit in your trading. When you want to go outside on that time you should create a stop loss trading. Without stop loss trading nobody can't better trade with cryptocurrency market. There are lot’s of people know about cryptocurrency trading.

[Brawnsugar]

I have gone through the entire posts on this thread and I can say the knowledge gotten is gold. Just one question I have in mind, how do I place trailing stop losses and by what margin do I it to stay in the trade please? I've heard difficulty with this.

[Toukexx99]

In fact, whatever you do, you will not be able to eliminate losses at all. All you can do is minimize it.

Here are some tips for avoiding loss in trading.

 » Use stop loss
There is a dilemma that traders must deal with in trading on cryptocurrency, when their position touches stop-loss prices return to the direction they have predicted. But when stop-loss is eliminated, the market makes a bigger floating. When trading don't ever hesitate to use stop loss, if your instincts say so.

 « Cut-loss
Releasing 1 wrong or wrong analysis is highly recommended to be able to trade better in the future.

[metalglowd]

Good day fellow traders, I'm thinking of using stop loss order in my trades, can you give me some advice how you use your stop loss order?

the best thing is the use of stop loss is done if the au knows how to use technical analysis, so we can know what number to support the coin that has been analyzed to avoid loss or buyback

[otundebis]

Stop loss is a trading tool that could save you from serious loss when you are offline.  Stop loss can be use to prevent yourself from unavoidable decline when there is sudden sharp decline in price in cryptocurrency market.  Stop loss is easy to use,  you can already see it in drop down options on your exchange where you type in the price of your order!

[Hamphser]

Good day fellow traders, I'm thinking of using stop loss order in my trades, can you give me some advice how you use your stop loss order?

Anyone here that is trading without stop loss is making a big mistake. I have seen a lot of traders, especially new traders, who trades without using stop loss and at last they will start looking for what to blame, while they are supposed to be blaming themselves for not setting their stop loss.

Not setting up stop loss is the worst  mistake a reader can ever make, because you never know when the price will fall. So urs best to setup your stop loss so that you don’t lose too much of your money when the price starts to fall. There are already lots of links here, don’t need to post more.

Are you sure? Its seems you havent test out to trade on different market conditions.Did you already have the experience on using a stop loss? How many times it being triggered or eaten up by price volatility?
Im a trader but i dont set up stop losses.Why? because you wont able to to chase up easily on what you have lost once that SL is hitted. unlike on having a free or open order you can simply wait up there might be a big risk but i can still embrace it.

[leonix007]

I have gone through the entire posts on this thread and I can say the knowledge gotten is gold. Just one question I have in mind, how do I place trailing stop losses and by what margin do I it to stay in the trade please? I've heard difficulty with this.

for margin trading I only use Bitmex

Trailing stop + sign for long and - for short

Ex. present price 6600USD, if you set +10 or 10, you can only do Long position and will trigger at the price of 6610

with -10, a Short position that would trigger 6590

I would suggest to take the testnet before doing an actual trade on this, as there were times that trailing stop wont guarantee an exact price expected

 

[SwaVeR]

Good day fellow traders, I'm thinking of using stop loss order in my trades, can you give me some advice how you use your stop loss order?

If you’re one of those investors that watch their screen all day,you don’t really need to use a stop loss. Another thing you need to know is that these orders are not free, so you should watch out for the hidden fees. And as for how it works, let’s take for example you’re trading $100, you should set your stop loss at $95 and once it gets to that it will automatically have your position sold.

[Karlinz]

The use of stop losses have its pro and cons, It is preferable used when one is not sure of his entry but coin is obviously mooning, just set the stop loss below entry value and adjust upwards as price moves. The annoying aspect of it is where one would have placed a stop loss and a very sharp drop would sell it and eventually price doesn't fall but keeps head up