Stop Loss, A life saver or a evil?

[rodskee]

stop loss is very helpful for traders to prevent large losses, and can make traders not panic when market dump because stop loss will save your money when market dump

depend on the situation because if you are an active trader there is no need to use this as it can hinder you trades in time.
if the price drops on your stop point but just after that the price Pumped?what will be your reaction?so it is helpful but not in all time maybe
 sometimes when we are busy and need to go out or AFK
 then we can use this as tools but only on those times but mostly?manual
 trading is still what best for us.

[Pamadar]

I strongly recommend that every crypto trading must use stop loss, because crypto prices are very volatile so if you don't use stop loss we will
experience running out of capital, which is likely to cause prices to continue to fall. For me personally the stop loss is a life saver,because I've
experienced escaping several times from the losses I experienced thanks to using stop loss. Indeed, we have to manage our capital if you want
to use stop loss optimally, so that after we do stop loss, we can re-enter the market by buying more coins at a cheaper price.

Having a much better understanding in regards to stop and loss features for your trading activities is very important, there are some incidents where you position yourself and your target did not materialized and instead moves in the other side, having a good  stop and loss settings you'll be able to catch your position without monitoring it 24/7 it will also prevents you to make a higher damage as long as you know how to set it properly it will be a helpful tools for your trading business.

[janggernaut]

stop loss is very helpful for traders to prevent large losses, and can make traders not panic when market dump because stop loss will save your money when market dump

Stop loss is only used for those who trade for short term only. If they are trade for long term, they won't use this setup and just wait until the price goes to they want. Sometimes even though market dump and it affected the price, it could bounce back again and higher than their price before

[ChooseUsairname]

Definitely a life-saver. The price may never ever reaches your T/P again.
However, to set it up precisely takes a lot of efforts.
I would recommend to find a place where you can back test the size of your S/L vs T/P on recent historic data.
Money management is undervalued, but you can reach much higher profit, if you have your rules adapted to the actual asset.

[rexxarofmoknathal]

I really like the stop-loss option, to me at least, it provides me with so much more flexibility and often if the market trend goes the other way to what I expected and thus set my stop-loss is usually because of the volatility and I don't really put the blame on the option.

It's frustrating when you buy and sell at the wrong times but having a stop-loss is definitely better than nothing!

[nelson4lov]

<snip>
It's frustrating when you buy and sell at the wrong times but having a stop-loss is definitely better than nothing!

Stop loss is actually a life saving feature. For us swing traders, it goes a long way to save our ass should the market move in the opposite direction. Although we might incur sone loss but it'll be minimal compared to not having a stop loss order. It acts more like a backup plan. That way, you'll have something to fall back to. That's why professional trader always recommend setting stop loss orders just in case.

Let's not forget that with stop loss orders, the market might go sideways for a bit, and your stop hit and then proceed to move in the direction you originally thought It would. That's one of the worst feelings.

[4IRIK]

Stop loss is MUST

But it is not enough to keep in control of your budget.

Successful trading requires complex risk management with several risk limits (like overall drawdown, losing trades in a row and so on)
Also, it's about psychology. The idea is not to move your stop and to comply absolutely with your strategy.
Personally, for me the software related to risk management is useful (i use https://www.bitinsure.com/, idk about other similar)

It controls my risks (drawdown, losses and other trading limits and sends me alerts when any of them is reached. Also it gathers and calculates real-time stats so I do not spend any time on monitoring my accounts, looking of drawdown and other risks and have my performance stats at hand

[htsy585]

Stop loss is MUST

But it is not enough to keep in control of your budget.

Successful trading requires complex risk management with several risk limits (like overall drawdown, losing trades in a row and so on)
Also, it's about psychology. The idea is not to move your stop and to comply absolutely with your strategy.
Personally, for me the software related to risk management is useful (i use https://www.bitinsure.com/, idk about other similar)

It controls my risks (drawdown, losses and other trading limits and sends me alerts when any of them is reached. Also it gathers and calculates real-time stats so I do not spend any time on monitoring my accounts, looking of drawdown and other risks and have my performance stats at hand

Stop loss is unbeatable, it's inception has made trading of cryptocurrency assets more easier and more profitable, the only downside i see to stop loss option in trading cryptocurrency is when you set it on an exchange with low trading volume. Like you said, it's not enough to keep in control of your trading portfolio and as such we've several management tools being proposed and roll out on a daily basis, this is the first time I'm hearing about the platform you suggested but I'll definitely try it out as all these features you wrote out are paramount to proper trading experience

[DevilSlayer]

I strongly recommend that every crypto trading must use stop loss, because crypto prices are very volatile so if you don't use stop loss we will
experience running out of capital, which is likely to cause prices to continue to fall. For me personally the stop loss is a life saver,because I've
experienced escaping several times from the losses I experienced thanks to using stop loss. Indeed, we have to manage our capital if you want
to use stop loss optimally, so that after we do stop loss, we can re-enter the market by buying more coins at a cheaper price.

Having a much better understanding in regards to stop and loss features for your trading activities is very important, there are some incidents where you position yourself and your target did not materialized and instead moves in the other side, having a good  stop and loss settings you'll be able to catch your position without monitoring it 24/7 it will also prevents you to make a higher damage as long as you know how to set it properly it will be a helpful tools for your trading business.

Stop loss is what we should focus before buying stocks or cryptocurrenncies, there are people who losing money in the market because they do not have stop loss. Having a stop loss is a part of risk and management where it is important in a plan in order to minimize the risks. People who have stop loss are the ones who can survive in the market challenges.

[conected]

I rarely use stop losses especially when im invested in Bitcoin, basically what im doing is buying in the dips and only sell if Bitcoin goes new all time high. You could say im a long term type of trader that's why, i dont worry if ever the price plunge cause i know it will eventually return. Long term trading for me is where the profits are.

- I know for investors who have chosen bitcoin and hold it in the long term, patience is the inspiration for their infinite profits, price in the short term is not their concern but this method seems to be quite obstinate and lacks a necessary analysis in the market with such fluctuations and opportunities. This market needs us to be proactive, rather than passive when it is not so easy to guess, so stop loss is always a safe contract for us, this guarantee can sometimes make us miss or uncomfortable but in certain times it will prove its worth.

[cassavachips]

Stop-loss is an important action for trading if you do not want to experience a large loss, when the altcoin that you handle touches the stop loss then there you must buy back at a lower price if you still believe that altcoin will recover.

[TrevorS]

I rarely use stop losses especially when im invested in Bitcoin, basically what im doing is buying in the dips and only sell if Bitcoin goes new all time high. You could say im a long term type of trader that's why, i dont worry if ever the price plunge cause i know it will eventually return. Long term trading for me is where the profits are.

All the same, there is a sense. If you bought Bitcoin at the bottom, then I do not think that you want to lose your money in case of unforeseen circumstances, such as a second bottom.
Therefore, it is always better to play it safe and keep your finger on the pulse. A cataclysm may happen or something else that lowers the price of bitcoin very low. You must be prepared for this.

[Arkann]

I rarely use stop losses especially when im invested in Bitcoin, basically what im doing is buying in the dips and only sell if Bitcoin goes new all time high. You could say im a long term type of trader that's why, i dont worry if ever the price plunge cause i know it will eventually return. Long term trading for me is where the profits are.

All the same, there is a sense. If you bought Bitcoin at the bottom, then I do not think that you want to lose your money in case of unforeseen circumstances, such as a second bottom.
Therefore, it is always better to play it safe and keep your finger on the pulse. A cataclysm may happen or something else that lowers the price of bitcoin very low. You must be prepared for this.

One way or another, for each trader it is not enough to understand what you need to buy cheaper and sell more expensive.  In order to be successful, you need to devote as much time as possible to monitoring the market and conduct as carefully as possible analysis of the coins with which the trader decided to trade.  One way or another, in order to make good use of the stop loss, you need to be able to configure it correctly.  If a person is accustomed to working independently and manually adjusting all transactions, then he certainly does not need a stop loss, but for this, you practically need to sit all the time near the computer monitor.

[cotton ball]

Stop loss make us confused will our assets back to higher price or not, but in other time we must ready when holding coin price suddenly dump without get anything from our investment way, but if can recovery for lost better to make chance and cut lost for looking profit with other coins.

[iv4n]

Stop loss make us confused will our assets back to higher price or not, but in other time we must ready when holding coin price suddenly dump without get anything from our investment way, but if can recovery for lost better to make chance and cut lost for looking profit with other coins.

Stop loss function is not confusing, people use it in just few cases, to sell and wait for price to dip more and then buy (popular shorting), or selling and moving money in some other alt. With ethereum and bitcoin I never use stop loss function, I simply wait if I buy in wrong moment, sooner or later the price of these two coins bounce back. For me stop loss function is good for risky investments in some alts, mostly low valued alts, where alts that break support can drop really hard, even to 1 sat. With them stop loss is almost necessary if you don't wish to end up with total loss.

[Twentyonepaylots]

Stop loss make us confused will our assets back to higher price or not, but in other time we must ready when holding coin price suddenly dump without get anything from our investment way, but if can recovery for lost better to make chance and cut lost for looking profit with other coins.

But more than anything, stop loss gives day traders the assurance that they needed and they are wanting. Without stop loss you just wouldn't know when to stop. You'd be stuck in a coin with no hopes of getting an increase or you will get stuck in a losing coin. You would want to have stop loss in your portfolio or investment strategy as it provides you security. It allows you to jump from one coin to another with minimal losses, and most of all, it provides you the freedom to choose which coin you wanted to jump in. So I don't really see anything confusing about it after it's just a simple rule of thump.

[Hulhala15]

I think that stop loss is exactly what can insure you in the most difficult situation, because otherwise you will have to constantly monitor the situation in the market and it will take all my free time, I do not think it can be considered profitable. I think it's this feature that saved a lot of capital. It's another thing when you're doing calculations by eye and you just can't control how it should be. I think that's what causes a lot of losses, because you just have to calculate take-profit and stop-loss correctly, because that's what allows you to think about the risks and secure your profits. But I certainly wouldn't trade without stop loss, it's a road to nowhere...

[Yatsan]

It depends on when stop loss is going to be a life saver. For example, when you are using stop loss in a roller coaster ride with the price then, you are using it in a wrong way! The market will have huge ups and down and stop loss will make your comeback not possible. I usually use stop loss when the market is pretty stable so that, when there's gonna be a huge dump out of nowhere I will be saved. Another thing is, when you are doing leverage trading always use stop loss, no matter how the market is doing, avoid being liquidated, hahaha.

[Sternbinder]

Well, actually, a lot depends on the strategy, because really now there are strategies that can lead to profits and good results, even if you trade without stop loss, the main thing is to correctly navigate the approaches and understand whether to take risks in a particular situation. Unfortunately, people often can not critically assess the situation and just blindly follow the standard excursions, without paying attention to the market situation and its peculiarities. And now it is more sad, I think that this is what gives traders the false impression. And in general, I think that this is what suits every single person, only it matters. I am in favor of everyone trading in a comfortable way, it is not always worth sticking to the opinion of the majority in everything.

[bearexin]

Right now if you look at what happened we could easily say that it was a life saver, however just because this fall was there doesn't mean it was always a life saver. In a situation where stop loss is a thing and pandemic happens when price was 7.5k and you put a stop loss at 7k, you are lucky, you can now buy back from 5k and you would be doing better actually, that is the good stop loss and we love that version.

However, maybe you put it at 3.8k so that you wouldn't be affected if a doomsday type of thing happens and price goes under 3k, well unfortunately for you you have just sold your coins for 3.8k and price is above 5k, that is the bad version of stop loss and we hate that version. So stop loss could be a bliss or could be a curse, all depends on how you use it.