3% loss 10% profit -> sell

[yesss]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

With a market that is constantly changing and as fast as it is now, placing the toploss is very important. You can see that the price of bitcoin in the past days is fluctuating continuously and very difficult to guess, this has made many investors lose. I believe that when the market is going down, you should stop trading when you lose 3% -5%.

[Hamphser]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

Hitting those limits and gains would really be easily hit up a short period of time which do means you will able to make trades to often. We do know how volatile the market is but having that 10% gain target is quiet high if we do talk about day trades 5% is quiet reasonable and its always being suggested to have stop loss because just only on minimal because if you make it too deep you would really be stuck on waiting game. Price do make zigzag hitting up those ropes.Emotions would be the main concern on here.

[danherbias07]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

I dont think so. 10 percent is a high gain so you might be looking at days or maybe weeks of trading if the market doesnt move much.
But the loss though, 3 percent might happen really quickly. I suggest you get a larger capital for you to see a better profit even with just a little percentage of gain.
You might also want to frequently check the market for the instability might happen anytime.

[boy130]

No, in general a 13% fluctuation does not occur that frequently, so it's unlikely you will be trading too frequently. That being said, I do not believe your numbers are optimal as I think it would actually lead to you trading too infrequently. I think a more reasonable goal is 2% loss, 5% profit, that's a 7% variance which should occur much more commonly than 13%. Try it out on two coins, and see which one trades more, and in overall gains more.

[jsrenthourse]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

I think the level of stoploss that you set at this time is very reasonable, you can see that bitcoin prices in the past few days are fluctuating continuously and very complex, they have very fast discounts and only reduced from $ 200 to $ 300 but it has a huge impact on the market. Therefore, it is very reasonable to leave such a stoploss.

[wayancrypto]

In my opinion that stop loss too small, and can be in every trade will executed because too near from open potition, in personality i used stop loss 10% to 20% and take profit about 30% to 50%. The volatilty of crypto so high this target is good in this bullish trend just like now.

[rommelzkie]

Placing stop loss at your trade is not good. This is because crypto market is very volatile. There are times that crypto price dump or pump up to 20 % in a day. instead of using stop losses. Try to always monitor your open trades.

[CaptainKrypto255]

It depends on the coin you're looking at and its volatility. If it's a coin you're willing to lose some money on because you believe in it long term, it is worthwhile to put a stop loss at 15-20%. You should cash in on your profits at 30%+ up for this situation.

[BarbusseH]

Try your strategy on historical data. Take a chart with eg coinmarketcap.com, and simulate transactions with commissions. If on some coin, your strategy will work, try it with a small amount.

[joshy23]

It will work in some points but you needed to be well understand the project/coin that you will going to invest with, if how the coin will move and what are those updates that will bring the project to rise, I'm sure it will take you a  lots of research before you will be able to master this strategy, as it is needed a lots of time and lots of coins to review well, your loss and profits seems to be easy to achieve especially when the market is in a healthy movements, when green are keeps on showing the target goal is easy to achieved so be very careful and review first before dealing with this strategy.

[Xardasim]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

Risk management requires dedication and mental awareness, because professional traders always choice the opportunity before it get reliased to mass. Losing on small percentage of investment doesn't hurt the trading strategy. Grabing every opportunity before it get exposed requires trading skills. Risking whole balance on trading is kind a like gambling rather than investment strategy.

[Hemady17]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

You may consider adjusting your stop loss at 5%. 3% stop loss is too much small since the cost of your initial investment includes the charges roughly 1% cost of the overall investment. But in fairness 10% for profit is good enough setting. If you are good enough to choose your trade you will definitely has big chance of success.

[renz0]

If I set a 3% loss on my initial investment as a stop loss and a 10% profit as a stop for selling, will that make me trade too often ?

You may consider adjusting your stop loss at 5%. 3% stop loss is too much small since the cost of your initial investment includes the charges roughly 1% cost of the overall investment. But in fairness 10% for profit is good enough setting. If you are good enough to choose your trade you will definitely has big chance of success.

Correct mate.3% loss is just too low in figure considering that we experience that normally everyday.Increasing your tolerances from 3% to 5-7% might be a better option.And with percent increase of profits I think it would be best to adjust it to 30% or more depending on the amount you have invested.

[toiratdeptrai13]

3% stoploss is too small, it's a small compare to correction wave, it will reach your stoploss point. Then you will lose the opportunity to profit. In my opinion, there are two principles with stoploss and take profit:
1.Stoploss minimum at 10% when the market goes downtrend, or there are hint of decline.
2. Never take profit when coin is rising, Determining the peak is more difficult than bottoming. Only sell when the market shows signs of decline, the volume 24h peak and the coin starts falling 10% from the peak

[janggernaut]

Placing stop loss at your trade is not good. This is because crypto market is very volatile. There are times that crypto price dump or pump up to 20 % in a day. instead of using stop losses. Try to always monitor your open trades.

Set our stop loss in trading sometimes will be good but sometimes it will not. It's good if your trade got executed beforw it falling more, and it's not once your trade got executed but it bounce back higher than your buying price. For me, i don't set my stop loss on 3%, it's still too early, i'd set it around 10-15%

[jorgelugra]

If you would like to get some instructions and recommendations I think it is not possible because trading needs an individual approach. As for me, the figures look not too large but it is up to you to decide

[Cosbycoin]

Cryptocurrency market is highly volatile , If you look at the charts 3% loss can occur anytime , and after 3% loss the project can rise upto 100% , imagine you purchase a coin at 1 dollar , stop loss is 97 cent , if project goes 3℅ down , your order gets executed at that moment and after couple of minutes if the same goes 2$ your total loss will be 1.03 , you are in loss , no matter project is performing or not ,

There are so many other factors which you need to take care of at time of selling or buying of any of your coin and that you need to make this decision after having enough of the thinking over it and that there is no point of making any kind of hasty decision.

You need to be sure that you are using the knowledge which you have in the best possible manner and that you are not going to regret over the decision which you have made.

[aiviaa485]

the cryptocurrency market is very fluctuating, and can not be with stop loss 3% and 10% profit. But I admitted that such a way is very powerful for trading every day.

and have a nice day for your tricks to sell like that, keep the spirit!

[Blue Bell]

the cryptocurrency market is very fluctuating, and can not be with stop loss 3% and 10% profit. But I admitted that such a way is very powerful for trading every day.

and have a nice day for your tricks to sell like that, keep the spirit!

Crypto market is full of profit for all traders and investors, as if you buy at this time and hold your coin, for long term will gradually increase your earning strategy, if you buy at 10k dollar right now and then sell at 30k dollar so it will be 3X profit, I am sure profit will be higher than lose,  but here I suggest you to trade for long term than day trading as every day trading for me is not advisable for high profit.

[kxp]

3% loss is NOTHING, you will get almost all your orders closed for stop loss because that is a lot.
10% Profit is HUGE, you must set it at not more than 2 - 3 percent per trade, because it is too much