Choosing a suitable level for the stop loss

[eugenefonts]

🔸A wise trader puts his stop at a level where he has to assume that the trend is going to be broken, according to what the indicators tell him is possible or probable. Usually, this would be a broken trendline in the time frame he’s trading in, or a support level which gets broken.
 
🔸It’s also important not to set the stop loss too tight, as the current volatility could execute it without reason. A price has to have the opportunity to move around the entry within a certain range. It is common for this to be at least as far as 1.5 times the current high-to-low range.
 
🔸This will often be right, but sometimes not. Price can move back over the trendline unexpectedly and go on within the trend, but more often it won’t. Especially not immediately. When having been stopped out, you always have the opportunity to go back in. But in a case where price movement keeps reversing, the smart trader’s capital has been saved.

[m.vina]

🔸A wise trader puts his stop at a level where he has to assume that the trend is going to be broken, according to what the indicators tell him is possible or probable. Usually, this would be a broken trendline in the time frame he’s trading in, or a support level which gets broken.

This is the most common concept newbie traders fail to understand. When i was starting out, all i knew was simply "buy low, sell high." I didn't concern myself with stop losses, margin trades, or any other "technical" concepts. Not learning these things tho, is very counter productive when trying to profit from trading. You need to do your own research and really take time to learn if you want to be a successful trader.

[Isaak Brenner]

My choice of stop loss is about 5-7% for short term trading, I think it's normal. If I buy some coins for long term my stop-loss is 15-20% because crypto market very volatile. Sometimes I correct it with technical analyses and make some changes.

[Brianlee0112]

The price of coin in crypto market always goes up and down. So it's very user has to be very concern when to apply stop loss. Every user will understand when to apply it by taking proper time, research and calculation.Maybe the get fail first couple of time but failure is the best way to understand something properly.