Stop Loss, A life saver or a evil?

[eaLiTy]

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.
What do you guys think, is stop loss something or, or not so good?

The most important thing when dealing with a volatile market like BTCitcoin is that you need to be careful when using stop loss and there is another option stop limit where i have not heard many talking about in this forum.

The most important aspect of stop loss is when the market is rallying and then you are busy and you can put a stop loss so that you will not miss on booking the profit when the market rallies and when it comes to stock market it is an important tool but in a volatile market like BTCitcoin you have to be careful and for you to carefully execute those orders you need to be well aware of the support level and that is the important aspect when you are using those market.

[1715033090]

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[1715033090]

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[suzanne5223]

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

Stop loss in crypto trading is actually something satisfactory for crypto trader which believe the market is in manipulated state but the crypto need to stop about 75% of his trading because sometime an occasion where the downtrend expected maybe uptrend may happen  either the 25% shouldn't be a pain in butt.

[TRONTON]

stop loss is very important if bitcoin releases the brakes and falls down following the daily chart, for example if we buy $ 8k, then there is no other word than to wait for bitcoin to remain floating, or make a one-sided cut loss if not using it, altcoin also applies the same.

traders who set many orders will be greatly helped rather than pressing "cancel all" which is often late, but there are still other options such as OCO which can specify two directions of orders side by side.

[Faxmate]

Agree with you that set stoploss sometime is not too good in crypto. Manytime stoploss price hit and make we out, but i dont think stoploss is a bad option for trader. If you want stoploss become really useful, then you have to learn, get experience on each time stoploss hit, summarize all yours trade history and find the best way to set stoploss.

I prefer setting my own stop loss amount in specific coins. This year I plan to monitor my trade, buy and sell prices to see if I really earn, preferably will stop using bit and just do it manually. I want to stop being greedy on waiting and setting unrealistic price. Will set goal and try to trade more often by next year. It will depends on how we set our stop loss to see it's effect on us.

Yeah right, stop loss effect or not will depend on each trader and their experience. I hope you will get luck next year and become a good trader. Always remember to set stop loss, either auto or manually and must monitor all trading history.

You shall keep track of your trading history because that gives you actually idea where are you standing. Stop loss effect is a nice option that everyone shall utilize whosoever is involved in trading because it helps them to avoid unbearable losses since it has a limit for your loss money. This effect is not I believe used by most of the young traders and so they suffer from huge losses.

[stomachgrowls]

Why an evil? For me this is a life saver for most traders, as you can always buy again when the price is at dip rather than losing all your money and has no return on it at all.

For some it maybe an attempt but still stop loss is considered as the best friend of most crypto traders, without it all your fund might at risk all the time.

It all depends on how you use it, you cannot use a stop loss when the market is in this range as it is really volatile and it will recover in a few trading hours and when that happens your coins are already sold and there is nothing you can do about it and hence you need to be careful when implementing those in a volatile market like bitcoin, when the market is rallying it is a different story altogether and i used stop loss to get my maximum profit during the last rally as i was able to sell majority of my coins over $18k .

Thats why some people doesnt use up stop loss due to high volatility where these SL can be easily eaten up by a few percent movement on the price.It will depend on how deep the stop loss you've set out.

People didnt tend to make use of it because once its triggered then its already considered as lost funds rather than having a pending order on negative which they do still believe that they can recover it out
or break even one the market had rise back up again.

It do have advantages and disadvantages though depending totally on market condition thats why you should know on when and not to use it.

[nydiacaskey01]

Its a life saver if you know where and when to use stop loss, its the other way around if you dont. Stop loss have saved me a lot times already in times when I am expecting a huge drop after an event. Example is after a snap shot was taken to a token that is scheduled to have an airdrop to existing holders, expect a huge drop after the snap shot and thats where I used stop loss, it triggered the system to sell my token my holders started to dump.

[Karmakid]

Here is my opinion, stop losses are liver safer rather than an evil. If you put up a stop loss, then it will lessen the risk of losing more money because you will be automatically out of the market once the price reaches your stop loss. In the cryptocurrency market, since it is volatile, you should give a decent allowance to your stop loss level in order for the market to really move on its own way so you will not get stopped easily on a false breakout.

[harizen]

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

That's why it called "stop-loss". Try to understand the function, purpose, and definition of it.

We really don't need to be technical here. You can answer by yourself if that feature is really good for you.

The market is highly unpredictable. You can't just put your instinct that your preferred direction will always be met.

[Spaffin]

Its a life saver if you know where and when to use stop loss, its the other way around if you dont. Stop loss have saved me a lot times already in times when I am expecting a huge drop after an event. Example is after a snap shot was taken to a token that is scheduled to have an airdrop to existing holders, expect a huge drop after the snap shot and thats where I used stop loss, it triggered the system to sell my token my holders started to dump.

I completely agree with exactly what you said, because this function for traders was created specifically to avoid big troubles on the stock exchange.  Although there is a possibility that for those traders who have not used the stop loss correctly or have not yet learned how to use it, this function can bring some kind of problem.  Although I’m not even sure about that. In my opinion, everything depends on the correct settings of the function, and also to avoid big losses, you need to use Stop Loss and Take Profit at the same time.

[maydna]

Stop-loss can help you to prevent a big loss if the price is down too deep. But that will depend on how the market move and if you are not sure about the market, you can use stop-loss in your trade. But if you can analyze the market and you can accept the risk that the price can go to any price, then you don't have to use a stop-loss. That will depend on how we can determine the market. But personally, I don't use stop-loss too often in the market because if I feel that the market is not moving to the price I want so before the price is down, I will close my trade first while I need to wait for another time to buy the coin.

[sulendra12]

What do you guys think, is stop loss something or, or not so good?

Stop loss is actually useful in some cases, you need to actually do that if you want to save your money in bad cases such as price crashes or too late selling your coins because you can't actually predict the price so you need to actually do stop loss.

[onyek16M]

What do you guys think, is stop loss something or, or not so good?

Stop loss is actually useful in some cases, you need to actually do that if you want to save your money in bad cases such as price crashes or too late selling your coins because you can't actually predict the price so you need to actually do stop loss.

stop loss very usefull for me. stop loss can minimizes loses in trading because when the price of coins going to down stop loss will automatic sell your coin with the price have been decide then stop loss can remove feel of  greedy it part of emotion or Psychology from trader so it must to be controlled and stop loss can help you in this case . so stop loss safe your life save your balance.

[Shimmiry]

Stop-loss can help you to prevent a big loss if the price is down too deep. But that will depend on how the market move and if you are not sure about the market, you can use stop-loss in your trade. But if you can analyze the market and you can accept the risk that the price can go to any price, then you don't have to use a stop-loss. That will depend on how we can determine the market. But personally, I don't use stop-loss too often in the market because if I feel that the market is not moving to the price I want so before the price is down, I will close my trade first while I need to wait for another time to buy the coin.

In trading there is only chance you will get that you will win your trades or lose your income, many beginners are failing their first trade because of lacking of knowledge and techniques on their trades, knowing the price of the coin is not enough it is better to have a lot of research and must be updated what is happening on the market because every time there is a factor that will affect the market in just a single second, next is also ask other person to help with you in trading but make sure you know some of them, today many people are pretending that they are giving you help but is they have a bad intention to you and your money, be careful with those people you must be aware what is happening on your environment even you are in digital world, lastly trust your self in trading you cannot let other people decide what you need to do still that last decision is on your hand.

[whyrqa]

What do you guys think, is stop loss something or, or not so good?

Stop loss is actually useful in some cases, you need to actually do that if you want to save your money in bad cases such as price crashes or too late selling your coins because you can't actually predict the price so you need to actually do stop loss.

The fact is that Stop Loss is not a trading bot that can cause irreparable harm to a trader, but special features of your account when placing orders in order to avoid big losses in trading.  Stop loss is beneficial to those who correctly configure these functions.

[Trela]

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

That's simple! Ask some questions before returning to work:

1. What is your goal? List it out clearly.
2. How are you trading? Scalping or Trade as a planned? You need to clarify what the method is using.
3. What is your maximum stop-loss level?
4. Have you set a Stop-loss in line with your goals?
Etc.

I personally never set stop-loss below 3% if looking for a profit / 10% / order. For Scalping, you should take a trading course to understand it.

[gabmen]

How is it evil? I mean, definitely it can save you from going broke if you're day trading. And you're not going to use stop loss if you're planning on holding for a long time. I think it's even essential that this feature is utilized by everyone who day trades  to avoid getting caught in sudden market swings. Especially if one doesn't have the time to focus on watching the market and their orders.

[btc78]

when i was still trading i choose not to use Stop loss strategy but i know this is not also bad,there are some successful gamblers that made their way using this as safety precautions.

so using the word Evil is not appropriate mate,and it depends on who's involve because if you cannot watch your trading activities because of some important occasions and you need to still take risk on your favorite currency then using stop loss will make you safer at that certain moment(though it is not advisable for traders to leave their computers when trading)

[Maslate]

This depends on your timing, if you do it with a right timing, this might help you.
Stop loss is to minimize your loss, that's important especially for day traders but without enough knowledge on how to use it, it might not help you at all.

[BuxCoin]

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

stop loss is a life saver , we cant be correct in market all times , when we are wrong stop loss saves us by losing little

newbies makes a lot of mistakes in placing  stop loss , placing stop loss depends on volatility if volatility is more stop loss should be placed far , if volatility is less stop loss should be placed near , you could decide where to place SL based on technical analysis swings , or based on risk like 2% of the capital like that

[pajak666]

Hello,

I had this question in mind, since many of my trades with an adjusted stop loss got triggered, but then the market goes in the direction I wanted, but since it got triggered basically im out. I know this is due to big fishes messing around.

What do you guys think, is stop loss something or, or not so good?

The biggest sharks in the industry think it's bad. It's data driven they say:P Although their strategies very often revolve around strong markets that are growing in general. If yo uhave deep pockets in this case it makes it probably better to wait it out and sit comfortably at 20-30% drawdown instead of sweating more trades