Trading without setting stop loss (Risky or Not)?

[blckhawk]

That's glad to hear, it seems you were lucky enough and not even encounter any loss. However, luck is not always on our side you better to make your stop loss if you don't want to lose all of your profit. It is risky to trade without having an exit plan, it is more like stop loss is your plan B so you better prepare for it. You might have a good start but if bad luck strikes this would be devastating thus stop loss should be your act as your protection.

[MCobian]

In my opinion, trading without using stop loss is not recommended, indeed now you feel that without using stop loss you can make profit.
But I believe this will only success for a while, if in the long run without using a stop loss it is very risky. As we all know crypto prices are
very volatile, so at any time the crypto price can change direction. There will definitely be a moment where the price is crypto will dump
deep enough, and if this happens you will regret not using the stop loss feature.

[junnar1968]

You wouldn't want to trade without stop and loss. I loss hundreds of dollar just not setting up proper stop and loss. you will never gonna know when does the spike will happen. without the stop and loss for sure when the big spike occurred all your money in your account will wipe out. so make sure every trade set a proper stop and loss.

[iamsheikhadil]

It is risky!
It's basically gambling if you don't put stop/loss take/profit settings. Because then you are being too confident on yourself and want to make maximum profit by risking maximum loss. But for experienced traders who knows what they are doing, this seem to be alright because they know that they are going to make profit or won't suffer much losses even if their investment doesn't yield their expectations.

[nasipadang]

Not setting a stop loss for me is what should be avoided for traders, from my experience that trading without a stop loss setting is very influential for the final results I will get. It's like running aimlessly and stopping when you're tired, but if you're really happy with it then just do it, because it's profitable for you. Like many users here, without setting a stop loss, your management in trading will be chaotic.

[Ryker1]

It is risky!
It's basically gambling if you don't put stop/loss take/profit settings. Because then you are being too confident on yourself and want to make maximum profit by risking maximum loss. But for experienced traders who knows what they are doing, this seem to be alright because they know that they are going to make profit or won't suffer much losses even if their investment doesn't yield their expectations.

Well, you have a point there. Trading is just like a sort of gambling, you need a better plan to avoid of being mislead  in any action you will do. Stop loss is trading plan I have ever heard here in the forum for most trader, -- you should have an exit plan when you are going to exit if needed to. Because cutting from a huge loss is definitely a good idea than it will wipe out all your balance.

[rexxarofmoknathal]

I suppose whether you treat stop-loss as risky or not depends on your degree of adversity. You need to be prepared for the sudden market volatility which might either enlist you in a market or push you out of the market, depending on the type of stop loss. In any case, if you're relaxed about your investments and can sleep at night then I would suggest you could skip it. Otherwise, if you're not giving yourself much room to play with I'd recommend the stop-loss option.

All in all, stop-loss is great feature that can either save or lose you money, it is about how and when you use it

[crzy]

I would never trade without stop loss personally. But everyone has its own strategy I guess.

That strategy wont work if you don’t have the cut loss level because you are taking too much risk and you might incur more losses if you continue to hold on a dumping coins. Its easy to set up your stop loss so I don’t think every trader will not miss this one not unless if you are just holding a coin without any target prices either to take profit or to cut loss.

[suzanne5223]

Since 2017 even until now, I never try to use it honestly speaking. Because so far even without it, I can still able to earn good depending on the flow of the movement in the market or it depends on the coins you trade it then of course.

So you're manually monitoring it right? well stop loss is not for every one I guess because there are people who can't decide where they  should stop hoping for a good return, and also there are people who knows the value of quitting. Stop loss is obviously one of the useful tool in trading to avoid huge losses, by this they can gather it all up again and start a new trade with learned lesson.
 

I agree with @djmixen here cause in some occasions stop loss is not whats important and the most vital thing is choose the right selection with that stop loss is not important cause the coin invested will be green sooner or later.

And the risk was there whether we use stop loss or not, that's what I know about it,

Having no stop loss mechanics is riskier I think, but good for you coz you can manage it by yourself.

@djmixen crypto is a risk involving investment but stop loss is just a strategy to prevent concurrent lost in the market.

[Yatsan]

It is duly dependent on you of course. But since not setting a stop loss works good for you so far, then just continue with the flow. But of course in whatever strategy we do on trading there would always be a down side or a ris associated for the market behavior will not always be that constant and would really not be duly favorable on the strategy you have been using for a long time now. You should still see how the market behaves and decide if you would go into setting stop loss or just continue with what you have used to do. There are certain risks on that strategy but of course there are also certain goods but as what I say that would still be dependent on the market behavior if the strategy would be a risk taking or benefit gaining. It is just still up into you if you would go or stop but based on what you have experienced, it seems that it is working so good but maybe for your part but for others, it might be the same outcome.

[ridhataqo]

i rarely use stop loss if i'm in long position since i only use small leverage and margin, maximum 10% of my total capital.
that way, i don't have to be scared of getting liquidated and still have enough capital in case i want to add more to my trade.
so far that treats me good and i never cut loss.

it's gonna be different if i'm in short position, i set my stop loss at 5%, because shorting is riskier (at least for me) since the price can always go up and the sky's the limit, so stop loss is needed when i'm shorting.

[SoulMortal]

Setting stop loss can save you from loss. It's good that without it you are making profits but market keeps changing you will never knew what will happen next so it's a good idea to use stop loss.

[StuffKal]

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[dunfida]

It is duly dependent on you of course. But since not setting a stop loss works good for you so far, then just continue with the flow. But of course in whatever strategy we do on trading there would always be a down side or a ris associated for the market behavior will not always be that constant and would really not be duly favorable on the strategy you have been using for a long time now. You should still see how the market behaves and decide if you would go into setting stop loss or just continue with what you have used to do. There are certain risks on that strategy but of course there are also certain goods but as what I say that would still be dependent on the market behavior if the strategy would be a risk taking or benefit gaining. It is just still up into you if you would go or stop but based on what you have experienced, it seems that it is working so good but maybe for your part but for others, it might be the same outcome.

There are really times which stop loss is needed and there are times which isnt really necessary.Its right that better to stick out on current strategy you do have as long it do gives out profit.
Not all told strategies do works for everyone this is why this will involved lots of try outs and later on you would able to discover for yourself if its effective for you or not.Being trader would be
classified on different categories depending on the time they do spent and the effort they do make.Some do consider being active ones and some will just stay for long term so thats why
setting stop loss on day active trades isnt necessary yet volatility can easily hit or eat that up. When asking about on risky matters then neither which side you are in, it do have its corresponding risk.

[Yamifoud]

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.

It was an easy thing for you if you feel comfortable with it. You already find it good, making a good profit without a stop-loss setting, the fact that it works great for you then there is nothing you'll need to change.

I know curiosity makes such ideas and a new thing to discover. Yeah, a big adjustment to take but might be worth trying and possibly more effective. Anyway, you can still set it back to the normal things you've done if you never find it good. You can't assess how effective it was if we never had tried it, twice, trice...will good enough maybe.

NOTE: We don't need to push ourselves if we are not ready for it, otherwise.

[Kasabus]

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.

It was an easy thing for you if you feel comfortable with it. You already find it good, making a good profit without a stop-loss setting, the fact that it works great for you then there is nothing you'll need to change.

I know curiosity makes such ideas and a new thing to discover. Yeah, a big adjustment to take but might be worth trying and possibly more effective. Anyway, you can still set it back to the normal things you've done if you never find it good. You can't assess how effective it was if we never had tried it.

I'm glad that you are always making profits even if you never try setting stop loss which i think is even more risky. Stop loss setting can be a great way to prevent you from too much losses and this is done by most of the traders here, but if you find it more profitable even without it, then there's no need to change your strategy. After all, making profits is our very first aim here.

[tbct_mt2]

If you are discussing about trading, yes setting stop loss is a must thing. Without stop loss, you put your trading orders into risky. Supports can be flipped and become resistances. Bitcoin Support and Resistance for dummies

Stop loss orders help you to reduce your loss when cascade effects happen on exchanges. It is more important if you use leverage tradings. Stop loss is a weapon when you trade.

One of the Best Weapons in Trading

[Crypto.Sadlu8]

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.

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[Kelvinid]

Trading is totally risky if you don't manage it carefully. A stop-loss setting is a thing that helps you out from that situation, most traders are using this strategy knowing that we are not having in 24 hrs active in trading. We need to sleep also and keeping our trade safe is we need to set that before worse things to happen.

As any veteran trader will tell you, having your stops run is not a pleasant experience. However, it doesn’t need to be a financial disaster. While the connotation surrounding the word loss is ominous, do not be fooled ― the stop loss order is often a trader’s best friend.

source: https://www.danielstrading.com/2019/06/12/which-stop-loss-order-is-best-for-your-strategy

That even we use this strategy, it still not warrant anything that we are totally safe, somehow we suffered losses depending on the market situation and also the way manage our trade.

[djmixen]

Without using stop loss in trading that will be too risky for the individual traders for sure.
Just like me, I don't use a stop for so many years only this time I realized that it is important for each trader to
maximize your loss even you are sleeping then if ever you set it up.