Trading without setting stop loss (Risky or Not)?

[carlfebz2]

Using stop loss will vary or depends on what kind of trader you are because i have tried to use up this tool in a very volatile period of time and do set on small margins but price movement can easily trigger or eat it up
and that made me some losses that i do hardly even recovered.When you do make scalping then this is pretty helpful specially on lower timeframe.

When you do deal with long term holds.You can still make use of SL's but be sure to set it up shallow enough because one price swing will really make you loss.

It does actually had some cons and pros, depending on how you do use it on a specific kind of trading.

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[Shasha80]

It's too risky to trade without setting a stop-loss, you are just lucky to be making profit without setting a stop-loss.
Since you haven't been trading for long, it's still safe without the stop-loss feature. After all right now the market is bullish,
so naturally you can make profit without setting a stop-loss. My advice is to use the stop-loss feature from now on, before
you are too late realize the importance of trading with stop-losses. Later, if the market is suddenly bearish, you will regret not
use the stop-loss feature. That's what I experienced, crypto dump prices suddenly and I regret not using the stop-loss feature.

[maxreish]

There are times that I may forgot to set some stop loss in my trades but as much as possible I put stop loss in order for me to  prevent such huge loss for unexpected liquidations. Since you are using such low leverage, 2-5% leverage is safe but it liquidation can not be prevented when whales sudden attack and the reversal action taken place.

Anyhow, since you are still doing the right thing and gaining some profits, you can still go on with your own way of trading even without stop loss.

[TitanGEL]

It's too risky to trade without setting a stop-loss, you are just lucky to be making profit without setting a stop-loss.
Since you haven't been trading for long, it's still safe without the stop-loss feature. After all right now the market is bullish,
so naturally you can make profit without setting a stop-loss. My advice is to use the stop-loss feature from now on, before
you are too late realize the importance of trading with stop-losses. Later, if the market is suddenly bearish, you will regret not
use the stop-loss feature. That's what I experienced, crypto dump prices suddenly and I regret not using the stop-loss feature.

It is true that the risks will increase without using cut loss or stop loss, the main goal of using it is to prevent huge losses. Trading is a game of possibilities, there is no strategy that is 100% winning rate so every strategies have a downside and it is up to us on how we will manage it. In my way, I managing my risks to stop loss feature, I usually use automated stop loss of the exchange for me to have convenience where I will not worry if my bias did not happen.

[Kong Hey Pakboy]

It depends to the trader, if he is comfortable not using the stop loss because there are some traders who can minimize their losses without using any stop loss tool. But using a stop loss in trading will definitely help a trader to avoid having huge losses or huge risk when there will be a bad situation in the market.

[carlisle1]

Unless risk-reward ratio is not favorable would not be doing any such things where the losses could be unlimited means the entire amount invested would be lost if no action taken on the timely basis.

That's the goal, doing such actions needs to be assess well, if there's no favorable outcome you just completely risking your investment, in
certain point.,

Timing is very important in ending your position traders are aiming to stay in positive and limits the damages if the entry position
failed to generates good outcomes.

So we do have the stops loss functionality and trading involves high amount of risk and unless if people do have spare amount and can afford to lose then it is fine to try this strategy.

You need to assess this feature very well, go more deep in analyzing this strategy before risking your money, else, you are just wasting for trying.

[Mpamaegbu]

Due to current market, I've not been selling but buy. I wait for btc to reach a specific resistance price and then when the price come down, I buy and set take profit to almost the current resistance price.

First off, it's dangerous to trade without a SL. Highly dangerous, I must say. Except you've a high risk appetite.

Now, to the quoted and bolded above: The law of TA stipulates that you sell off Resistance, and not buy. You buying when price bounces off Resistance is risky, even though Bitcoin is bullish at the moment. You're taking unnecessary risk and it's paying off because of the bull market. Soon you will pay for this error of trading. The right thing is to buy from Support, and not Resistance.

[akram143]

Hi All
I've been trading with btc for a while now with 4x leverage and without setting stop loss. But so far, I've been making profit.  Although, I still have plan to reduce to leverage to 2x with time.
Due to current market, I've not been selling but buy. I wait for btc to reach a specific resistance price and then when the price come down, I buy and set take profit to almost the current resistance price.

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

but I feel like posting about it here to see other people opinion and more experienced traders opinion.
I will really appreciate your opinions and what you think will be better or any better suggestion.

When your predictions are more accurate then you may not need the stop loss feature but why not have it, it might save you from unexpected huge loss with very minimal damage to your capital.Or if you are a long term trader then there is no need for it, simply wait until the price gets higher and sell it once it reaches the goal price.

[dunfida]

Hi All
I've been trading with btc for a while now with 4x leverage and without setting stop loss. But so far, I've been making profit.  Although, I still have plan to reduce to leverage to 2x with time.
Due to current market, I've not been selling but buy. I wait for btc to reach a specific resistance price and then when the price come down, I buy and set take profit to almost the current resistance price.

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

but I feel like posting about it here to see other people opinion and more experienced traders opinion.
I will really appreciate your opinions and what you think will be better or any better suggestion.

This might be talking about traditional markets but they are all just the same.Links given are worth to read on towards on when and how should it be used.
https://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
https://www.investopedia.com/ask/answers/030915/how-do-i-determine-where-set-my-stop-loss.asp
https://decodingmarkets.com/professional-traders-stop-losses/

Hope this helps.

[Bitum]

I would say that it is up to you whether you use stop-free or not, I only say that in some cases this can be a very helpful tool and protects against even greater losses

[imstillthebest]

im no pro but seeing your post makes me say that you are doing verry good .  your good with and without stop loss although its risky but you have manage to beat the risk and  earn more .

we all have our strats and  you already figured out whats work best for you , i dont think that modifying that present config can improve your trades but im afraid that it will only make you earn slower and not earn at all

[atjiat]

im no pro but seeing your post makes me say that you are doing verry good .  your good with and without stop loss although its risky but you have manage to beat the risk and  earn more .

we all have our strats and  you already figured out whats work best for you , i dont think that modifying that present config can improve your trades but im afraid that it will only make you earn slower and not earn at all

Many traders pay a lot of attention to trading, using all their free time for this, and that is why they do not use stop loss. But in order to save time and minimize your risks, stop loss is preferable and will only bring in with the right settings. In order to avoid certain mistakes, such as placing a stop in the liquidity zone, as there is a high probability that the market will pass through these values before changing direction.

[Salauddin1994]

It will usually depend on the trader if he has good knowledge and experience about the market then he will be able to trade without stop loss and there will be no risk. It is true that it is not possible to trade without risk but to proceed slowly. In the case of new traders, Trading is better to make stop loss because they do not have much knowledge about the market and greed is the reason for making more profit later.

[jostorres]

You can buy when it bounces off from resistance, you just need to make sure it reaches all the way down to support level .

I personally would buy at above support level if it didn't break, because I would know that support is strong enough to keep it and that way I would be capable of actually profiting when it goes back up. The only way you could lose money that way is if the price goes all the way down to support, fails to break it, goes up a bit and crashes harder down afterwards, which is not unique and could definitely happen, but I think it would be not common neither.

More commonly, people buy at above support levels and sell right before resistance, that way you play the spread and could make a hefty profit most of the time, except times it breaks either of those two.

[pawanjain]

Well everybody has their way and their own strategies and if that is working well for you then you should keep doing that.
I just do swing trading without stop loss. I just place limit orders and I tend to make some decent profits.
I does take time sometimes but profit is what matters eventually.
They say in programming that if the code is working then don't touch it.
Similarly, if your strategy is making you good profits then don't change it 

[bearexin]

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

It’s important that you make use of stop loss, this is in case if the price of the market should go against you. Although you said that you have been making steady profit, that’s good. Still have it in mind that some days won’t be as good as the others when you were cashing out easily, so it’s good that you’re prepared for those as days and make use of stop-loss to beat them. From what I have seen, based on the explanation you have made here, it seems you’re really good at technical analysis, so that can help to push you further in this, you already know what you are doing.

Since you are using such low leverage, 2-5% leverage is safe but it liquidation can not be prevented when whales sudden attack and the reversal action taken place.

You can never know when they attack. He’s trading and it’s working for him because he’s one of the lucky few that haven’t been caught in those moments. That’s why it’s very important that he makes use of stop loss, because we can’t really predict when it happens.

[KnightElite]

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

It’s important that you make use of stop loss, this is in case if the price of the market should go against you. Although you said that you have been making steady profit, that’s good. Still have it in mind that some days won’t be as good as the others when you were cashing out easily, so it’s good that you’re prepared for those as days and make use of stop-loss to beat them. From what I have seen, based on the explanation you have made here, it seems you’re really good at technical analysis, so that can help to push you further in this, you already know what you are doing.

Since you are using such low leverage, 2-5% leverage is safe but it liquidation can not be prevented when whales sudden attack and the reversal action taken place.

You can never know when they attack. He’s trading and it’s working for him because he’s one of the lucky few that haven’t been caught in those moments. That’s why it’s very important that he makes use of stop loss, because we can’t really predict when it happens.

My trading mentor always remind me that I'm always wrong until the market proves that I'm right. It only means that there are always down side in every kind of strategies out there. I do recommend stop loss and actually a beginner should master it before deposit huge amount of money in their account. Mastering the stop loss can help you to have edge in this kind of market, you can prevent what they called capital wipeout through stop loss.

[Xinarae*]

Losses can be realized many times when trading without stop loss but there are also many people who use stops to face losses. most of the time we see that many people have benefited from using staples and trading without staples would have been a loss for them. How you use Stop Loss depends on whether you are actually making a profit or not.

[SquallLeonhart]

I am sensing some sort of like adrenaline rush in the question itself don't you guys? Like not because you wouldn't know if stop loss usage is saving you any risks or whatever, you would know that. Having stop loss means that if something goes down super fast, you will be right there before it falls down and you will get out before it falls down, so yeah it saves you and it is quite obvious.

However question could be based on something more dire, like "how risky exactly?" as in if you want to have a risky trade, like a x100 leverage trade type of risk but a lot less than that, like literally A LOT less than that. So, maybe OP wanted to know about the risk level and not actually if it is risky or not. If I am wrong, that is a very easy question to answer, if you use stop loss, you have less risk.

[rexxarofmoknathal]

Sometimes even in classical trading without leverage I consider stop-loss with moderate bandwidths on the lower side to prevent me selling prematurely. I don't always do this but whether I use the stop-loss feature depends on the market volatility of that coin.

Now, given that you been trading on leverage and without a stop loss the fact that you managed to make profit is great but I personally wouldn't risk these earnings. This is to say that when leveraging stop-loss is almost imperative!