Is stoploss worth it ?

[nydiacaskey01]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

Stop loss is your way of protecting your profits when you are not in front of your laptop or desktop to trade. It will place an order for you in case the price touches your desired Sell price. However, you have to be very careful with using stop loss, a minus 5% from your bought price might trick the system to sell your coins then suddenly will price go up. I would suggest a higher margin like 8%-10% from your bought price.

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[Polar91]

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

If you're trading in just a short period of time, don't put a stop loss. However if you are opening a market order and you're planning to leave it there as you'll sleep or go outside, then put stop loss so that you're protected from sudden dump if ever the whales want to dump it so.

[BlackPanda]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

We must see the situation and conditions. Stploss is not always profitable and is not always detrimental.
There must be a formula that can calculate whether we will experience profits or not.

[LogitechMouse]

To be honest, I don't use stop loss because I don't know how to use it.
I'd prefer doing average down rather than doing stop loss since we don't know when a certain coin goes up or down.

[letecia012]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

For me yes i usually set my stop loss to -10%  so it may not be easily hit when market are just flactuating through consolidation but when market would suddenly dump which we already experienced several times at least my loss is minimal and i can re buy at a lower price.

[yvesp110]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

For me yes i usually set my stop loss to -10%  so it may not be easily hit when market are just flactuating through consolidation but when market would suddenly dump which we already experienced several times at least my loss is minimal and i can re buy at a lower price.

If you have long term experience in market and you know fall, rise is so common then why to be worry just hold your coin and wait patiently, you wana stop lose but you are selling at low at profit of only 10 percent, then again buying at low price, well I really can’t tell what’s going on in your mind, I only suggest you to hold patiently.

[cydrix]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

Depends on your tatste, but if I were you I would not put mt money into such a small tartget, you should already be buying all of it by now. Btc is much cheaper than it's price for this past years so this might be the time to rise it up a little bit. Let's wait for big shocking price to happen better save up for now,

[richminded]

To be honest, I don't use stop loss because I don't know how to use it.
I'd prefer doing average down rather than doing stop loss since we don't know when a certain coin goes up or down.

Stoploss is just setting the dump price level when you should hit the sell buttom, its easy to do that since you will be the one to assign your loss percentage. Anyway, you’re still doing good on doing averaging. For me, stoploss is very important for a trader since they tend to buy and sell as much as possible but if you are a hodler stoploss is not a big thing for you since you are looking for a long term trend and the price movements.

[Kelvinid]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

Depends on your tatste, but if I were you I would not put mt money into such a small tartget, you should already be buying all of it by now. Btc is much cheaper than it's price for this past years so this might be the time to rise it up a little bit. Let's wait for big shocking price to happen better save up for now,

It sometimes stop loss strategy will be useful when we are not in the full time trader. But for now, it is better not to used these cause we eventually moving forward and better not sell this time. We all through looking for the positive response from strong resistance and it may surprisingly shown up this year.

[Al-e_x]

I myself do not really like to use stop loss because in crypto fluctuations the price movements are very high and if we use the Stop loss then suddenly the price falls then returns to our entry price, then we will automatically lose, therefore I do not like to use stop loss.

[jhonjhon]

I myself do not really like to use stop loss because in crypto fluctuations the price movements are very high and if we use the Stop loss then suddenly the price falls then returns to our entry price, then we will automatically lose, therefore I do not like to use stop loss.

There is no problem if you set already the price even it falls hard cause it automatically sold when reaches to the lowest setting price.
I'm not doing it all the times cause it usually I can't made the right timing and mostly I always losing. I'm just looking for the trend and do simply buying and selling scheme, it provides me good profit.

[Pattart]

I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.

I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?

Stop loss is your way of protecting your profits when you are not in front of your laptop or desktop to trade. It will place an order for you in case the price touches your desired Sell price. However, you have to be very careful with using stop loss, a minus 5% from your bought price might trick the system to sell your coins then suddenly will price go up. I would suggest a higher margin like 8%-10% from your bought price.

Therefore you must be careful, sometimes the price can turn around after you sell it, the price drops 5% does not mean it will continue
to fall, so before you stop selling, you have to look at market conditions first, whether prices will improve or will continue to bleed

[Webberson]

Regardless of the fact that dip occurs from time to time in markets, does not mean that one should not set stop losses in trades. Setting a stop loss in trades is always important in the sense that you may not have all d time to be monitoring the market when a position has been made, and it also helps you lose less when u're losing a trade.

[Ucy]

I have never really traded with stop loss. I do not find them comfortable to be honest.  I just buy a coin and place sell order at a comfortable price level,  likewise  selling  and placing a buy order at a comfortable price.