Stop Loss, A life saver or a evil?

[bitgolden]

Of course stop loss will have a positive result for you, its basically a life saver in disguise as evil, because in reality lets be honest bitcoin and even in forex there is a lot of manipulation, which means stop loss that you do with all other people could be broken and help the whales when they want to make more money, but if you don't do it, you will be basically losing a lot more as well.

So what is the danger? If you put stop loss at 5% under, and the whales knows that there is sell orders and potentially some stop loss orders, they will sell a bunch of bitcoin to make it lower, and they will buy at the lower end and make more profit. Whereas you will be active or have some orders to buy lower when something like that happens to not get affected badly.

[1715377487]

1715377487

[giammangiato]

For me as a trader we have to set stop loss so that we will not losing more money because high chance that it might go down further. You don't want lose money right so it is better to set always stop loss when trading cryptos.

I agree with what you wrote, the stop loss for me is also a way to reduce excessive losses especially when things are not going as we expected. You try to limit your losses, and at best you can buy back when it has gone further down

[Renampun]

I assume stop loss is a life saver...
several times the crypto assets that I bought dropped 40%, I installed a reminder feature when the assets that I bought went down then I would immediately sell, and then I bought at a lower price. I put stop loss in my risk management.