Is stoploss worth it ?

[MURONDI]

it looks like you are stuck in the bear market , I also often experience such things, You have to dare to lose a few% of your balance before impacting greater losses.. Next time use the stop loss earlier.. 

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[bit-freedom]

Yes, I think a stop loss is definitely worth it if you want to limits your loss. And especially when your profit is 2%, you do not want to lose more than that. Usually when BTC dip, it can be big around 5 to 10%, it can easily sweep your profit away.

[Caladonian]

Yes, I think a stop loss is definitely worth it if you want to limits your loss. And especially when your profit is 2%, you do not want to lose more than that. Usually when BTC dip, it can be big around 5 to 10%, it can easily sweep your profit away.

This extended bear market really hard to assume, setting stop loss is indeed needed to avoid much bigger damage, with stoploss you'll be able to quit with smaller loss and can comeback the next day and try to recover, without stoploss it can put you in a much deeper grounds making more problem and taking longer time frame to recover, this feature won't be introduce for no purpose at all, we have to take the advantage of learning it for our advantage.

[Idrisu]

In money management, stop lose is one of the tools we used in trading.  I believe that stop loses is need in other not to lose much especially when the market is going against you and you are not having access to your account to control it.  If you have the time to keep eye on your open position then you don't need stop loses.

[Wafilian]

Stop loss useful for safe trading but in crypto trading my luck so bad, Sometimes I used stop loss then market hit my stop loss an bounce back but obviously using stop loss the best idea and safety trade system.

[bohr]

Stop loss useful for safe trading but in crypto trading my luck so bad, Sometimes I used stop loss then market hit my stop loss an bounce back but obviously using stop loss the best idea and safety trade system.

If that happens to you very often then it is possible that you are not setting your stops correctly, what kind of method are you using to determine where the stop loss should be located? This is important because if your stops are very close to your entry price then you will be forced out of the market before you can make any profits and that can be problematic.

[wayaneka]

Use Stop loss is very important in trading activity, that why many trading platform offer this feature. Use stop loss will be minimize the loss from wrong trade, and we have to use it for trading in spot market or in margin trading. Trading is high risk activity because the price off any asset unpredictable, in margin trading our balance can be going to zero if dont use any stop loss and also in spot trading possible lossing value more than 90%.

[Matthewmorris4]

Stop loss useful for safe trading but in crypto trading my luck so bad, Sometimes I used stop loss then market hit my stop loss an bounce back but obviously using stop loss the best idea and safety trade system.

yes sometimes things like that often happen, this is the reason sometimes I use stop loss not only to not lose too badly but also to take the opportunity to buy back at some lower point of that but i'm not sure if we do something like this right now. Most people tend to sell than buy.

[Jating]

I would say yes, stoploss is worth a try and I'm sure a lot of traders are also using this method to minimize risk. I guess it's boils down as how you're going to take advantage of it. Others think it easy as it may sound.

One advantage is that you know how much money you're willing to risk:reward ratio. You can only leave your computer do something else and just get back to see how you're doing. No need for you to monitor the price that often.

[ethereumhunter]

Although I don't like to use stop-loss, sometimes I use it if necessary, and if I think the price will go down, I will cancel my order and make a stop-loss call. It's worth if you know where the price wants to go but if you don't know anything about stop-loss, then cancel the order will be a good choice because you can cancel your order in anytime you want. Stop-loss will be useful to prevent a big lose when the price is down too deep, but you need to know the movements of the coins first.

[glowing10]

it looks like you are stuck in the bear market , I also often experience such things, You have to dare to lose a few% of your balance before impacting greater losses.. Next time use the stop loss earlier.. 

Depending upon the market situation I do place the stop loss considering how volatile it could be and at times that stop loss was really worth as I had just lost few $ rather than losing a lot of money or else would have to wait for another year or so for the recovery to happen with that coins.

[babarian]

of course it's not worth it, it would be better if you keep holding.
by continuing to hold you can minimize your losses when you sell a few moments to come when a bull run occurs.

[raghovsing34]

If you don't wanna lose much more than you can afford to loss then it will be very useful if you set a stoploss. Otherwise you can hold if market get down if you can keep your patience.

[arpon11]

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 ?

like some of us has said.  We actually needs stop loses put in place in other to reduce loses in trading.  Cryptocurrencies market is a volatile market and it is good we should understand that if we did not put stop lose in place our capitals might be wiped away in a single price movement.  Another reason why we should used stop loses is because we cannot always be with our computer or phone and as such stop loses reduced our risky.

[ToyotaFortuner]

I feel that the stoploss that you are doing will only make you lose, it is better that you can wait until the price rises again and can make all the total assets you have become safe and will get very much profit if the price returns and becomes more expensive .

[Oilacris]

I feel that the stoploss that you are doing will only make you lose, it is better that you can wait until the price rises again and can make all the total assets you have become safe and will get very much profit if the price returns and becomes more expensive .

Stoploss do have its own advantages and disadvantages depending on how you do apply and make use of it with your trading style.When you do make active day trades then
setting up this limit would really be helpful yet this would matter on risk:reward ration depending on your fund management but if you are going for long term then i don't see for it to
be necessary on using it.

[Moiyah]

If you are already familiar with stop loss, you can benefit from it. Knowing how unsure the market's way are leading. Thus sometimes a stop loss are triggered and your target is hit and it favors your side. But that's how trading actually works. Set stop loss for safety purposes.

[MoonCrypt]

It's worth trying to put the stop-loss point due to the very volatile market can swing heavily and destroy all your trading plans for weeks
you can't trust the market movement!! have to play the games in way to mitigate your loss from becoming so bad

[michellee]

If you are already familiar with stop loss, you can benefit from it. Knowing how unsure the market's way are leading. Thus sometimes a stop loss are triggered and your target is hit and it favors your side. But that's how trading actually works. Set stop loss for safety purposes.

I think it can prevent us to get a bigger loss if we use stop loss because we don't know where the price wants to move. It's better we trade safely in the trading. Besides that, we don't have to confuse to see the price up and down many times. But we can also make a buy at a lower price if we don't want to use stop loss and I think it will work well too. Sometimes I used both stop loss and covered my buy order at a lower price than before so I can decrease the average buy price.

[gabbie2010]

It's worth trying to put the stop-loss point due to the very volatile market can swing heavily and destroy all your trading plans for weeks
you can't trust the market movement!! have to play the games in way to mitigate your loss from becoming so bad

Crytos are very volatile I prefers a wide  visual stop loss to a tight one in my trading strategy to avoid losses, a major pullback can hit a small stop loss in trade that might eventually come back to the determined take profit,  although when the price is ranging is tight stop loss can deployed however no trader can predict the beginning and the end of a ranging market.
Cryptos trading is different from forex trading who's volatility and momentum is a little bit slower than that of Cryptos.