Don't stay on with a wrong trade

[palle11]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

[Reid]

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

Or a potential gain.
I guess that's what hinders the decision.
I've been through that before and I can say up until now the ghost of it won't stop.
Halting the choice to stop it because of high expectations.
I think it's just a normal emotion that will happen most of the time. Experience will help to control it though.
Whenever I am on that occasion, I sell and never look back. It helps. Turn it off at your favorites list. 

[rhomelmabini]

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Of all the things listed here I think the best one and most common to adapt to was using the stop-loss feature, may it on spot or margin trade. I think you may have to create some options too here like providing more margin balance if you're on a margin/futures trade so you may not be liquidated that quickly, adjust your leverage according to your balance, sell at breakeven and much more to manage losses (these mostly on futures trade).

[so98nn]

This is a strategy for those who are panic seller tbh. Or someone who does not have time to look after his/her trades really. If over the time I am making trades on daily basis then stop loss is not for me. Like, I may loose good profit if I stopped too early and obviously same is possible with loss side too. However, considering bitcoin trading its plus side is it always goes back to its ATH rate even after it drops. It’s a certainty in case of bitcoin as compared to commodity trading or share market.

So you get to choose here. But obviously any new trader must go through these options as they are life savers sometimes.

[teosanru]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

I think this type of trading has become more or less a full time job. Think of it like this. Currently the market is so volatile that it moves more than 20-30% in a day. I had a strategy before the wave it was keeping the stop loss below the ATR but after this bull run ATR has become so high that if you put a stop loss below the ATR your risk/ reward ratio gets ruined itself. Moreover in this choppy market there are too large wicks therefore the stop loss gets hit and markets reverts back to normal stage pretty quickly. Now what is the solution in such cases?

[semobo]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

How to recognize that we are on a wrong trade first?

Nothing is predictable until it happens, even the best crypto can cause people to lose and the shit coins can make the people rich so it all depends on how you assist the market condition better than others.

[hugeblack]

Trading is not a mathematical equation based on a rule: do this and you will win such-and-such.
It is a function of a random variable, and sometimes it is not logical, so sometimes the stop loss order is the worst thing you do.
Personally, I do not use a stop loss order, but the strategy depends on the type of trade you want to make and the profits you want to achieve.

Take your feelings away from trading, build a clear strategy and you will be fine.

[palle11]

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

Or a potential gain.
I guess that's what hinders the decision.
I've been through that before and I can say up until now the ghost of it won't stop.
Halting the choice to stop it because of high expectations.
I think it's just a normal emotion that will happen most of the time. Experience will help to control it though.
Whenever I am on that occasion, I sell and never look back. It helps. Turn it off at your favorites list.  

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

This point is good for a trade you suspect that may later turn into profit. Rather than stopping the trade, you can readjust it to your entry point which gives you a 50/50 chance of making profit out of it or running out clean without losing your stake.

How to recognize that we are on a wrong trade first?

You can if you have built a good strategy and when your orders turns against it , you can predict it rightly.

[Oshosondy]

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

What if you stop the trade and the market begin to rise back? That means you will lose what you should have gained back immediately. You have to analyse before doing anything. Using RSI can predict you to still stay and not stop to trade at the time.

2. Use of stoploss all the time: This help your losses to be minimal.

Stop loss can also be a disadvantage, you have to be careful while using it. It should be placed also in a way to fulfill its purpose during abrupt drop in price.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

This is a nice suggestion, adjusting stop loss will be good especially if the trader has gained already and increasing the stop loss price for long while reducing the stop loss price for short.

[carlfebz2]

It varies in someones risk management thing because not all would really be that willing on closing up their positions even if they are already in negatives.

Yes, its mentioned that you can potentially cut of those potential further losses but doesnt mean that you wont really be having the chance for some recovery if you do just simply open those positions?

If you do mind off that you can possibly recover or patch up those loss then its up to your own choice but those suggestion above isnt really a bad idea to follow on.

[ScamViruS]

Trading is not a mathematical equation based on a rule: do this and you will win such-and-such.
It is a function of a random variable, and sometimes it is not logical, so sometimes the stop loss order is the worst thing you do.
Personally, I do not use a stop loss order, but the strategy depends on the type of trade you want to make and the profits you want to achieve.

Take your feelings away from trading, build a clear strategy and you will be fine.

You are right. In some cases using stoploss when trading is considered the worst decision. I have tried using stoploss in my trade many times and the result I got is really disappointing, because every time my stoploss has hit the market has pumped.

So now I am careful to use stoploss. However, each trader has their own strategy, so they can use stoploss for their strategy needs.

[livingfree]

Avoid applying emotions on your trade.

Make sure that you are executing it based on your plan. Long time traders have already managed to control themselves if they are being emotional with their trades because it won't do good for them.

Stop loss is very important. This also triggers the emotion if you've done so.

[samcrypto]

Many becomes greedy when they trade and that is their bad side because they’re playing with a lot of emotion and with less strategies. I saw a lot of trading successful posted on social media and it creates hype especially on Futures trading, and that’s why many newbies started to do the same thing hoping to get huge profit as well, and guess what most of them lose a lot of money in futures.

If you’re just learning how to trade, its important to understand how it works and to create strategies that allows you to earn. Stay discipline, and stay focus on trading don’t put too much emotion and never to listen to any hype without analyzing the whole scenario of the trend.

[goaldigger]

Avoid applying emotions on your trade.

This is my biggest mistake when I was a newbie in trading, I became greedy and always hurt whenever I lose money, i got hype before and that’s not good in trading as you realize after losing money. There’s no such thing that you’ll always win in trading, you have to accept that you’ll lose some and you’ll earn some. Keep learning, have your best strategies always and stay consistent.

[Issa56]

As a trader or as a newbie in Cryptocurrency you don't have to be greedy and you don't have to always allow emotions to control you, whenever you buy a coin one of the first thing you should do is always set stop loose some people always say stop lose is waste of money or waste of time, some people always complain that whenever there stop-loss have been trigard that's when the coin always pump back again. Seriously I believe all these use to happen but I believe if you are holding a coin and you really believe in the coin if the coin is dumping you can just sell it and buy back when the price is low!!! And there are some coins that will never pump back when it's dumping so is better you always exit those kind of coin because is better to lose 5-10% of your capital than losing 50-80% of your capital. I really believe when you are buying a coin always set stop lose to reduce lost.

[Ryker1]

^[snip]
1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Well, it is obvious these are very common advice but effective way of gaining profit. For the first one, you have two choices, stop the trade and hold your coins or stop the trade and covert your coin to fiat if you see that your profit was already there. And the rest is to avoid potential risk, every trader should use this to avoid a massive loss when there is a drastic pullback price in the market. However, I have an addition to this, ^{[stick to the plan]}, it gives you perfect trading if you stick on the plan and avoid following your emotion or even others opinions.

[Sled]

If we find it hard and notice that our strategy never works, this gonna be the best solution to that...

1. Stop the trade

There is no need to force ourselves if we are not fit for this. If we saw that many had success in trading is that because they are destined to become a trader and they are working it hard before they come out with that faces.

The question is, did you do that? Because if not, then you can say that aiming to win without doing it something is just a dream only. Maybe we can take a look at that and try to assess ourselves if this is really for us or not.

[Cherylstar86]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Sell 50% of the portion of your holdings when you're not certain by the time price would pump. Don't out a 100% trust on the trend because I also experience to be frustrated during my xrp pumped up. I made a decision to sell early and grab the small profit to prevent stressful nights, because it's the best options to do to avoid wrong trades affects me emotionally.

[wxa7115]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Keeping a position open when it is clear that you have made a mistake and somehow hope that things should change is probably the number one reason why traders not only lose money but they lose way more money than what they intended, take a look at some of the greatest losses in the markets and you will see a similar pattern, a trader will open a position, then his prediction is proven wrong but instead of closing it and accept his mistake he keeps it open increasing his risk and sometimes even adding to it by buying even more stocks or coins.

This cycle keeps itself going on for some more time until the losses cannot be sustained anymore and the trader finally admits defeat or he gets his positions closed by the exchange, so I will recommend anyone that if you happen to make a bad trade just accept the loss since that is way cheaper than the alternative.

[MWesterweele]

If we find it hard and notice that our strategy never works, this gonna be the best solution to that...

1. Stop the trade

There is no need to force ourselves if we are not fit for this. If we saw that many had success in trading is that because they are destined to become a trader and they are working it hard before they come out with that faces.

The question is, did you do that? Because if not, then you can say that aiming to win without doing it something is just a dream only. Maybe we can take a look at that and try to assess ourselves if this is really for us or not.

We all have our own kind of strategies and techniques in trading but sad to say sometimes those strategies we have didn't work for that plan A so we should always have a set of plan B in case. For me life in trading is a constant trial and error that's why we should always choose our decision wisely and also learn to become flexible when the strategies doesn't work well. Though we can save some ideas and strategies from other traders but we can't say that their strategy will work on us.

[maxreish]

I somehow wait for that little hope that my entry will still be at profit. But, many times I failes that part. That is why I strongly agree on this part.

1. Stop the trade:

Since stop loss was need to be triggered on my entry there is one scenario that Ive waited and readjust my stop loss price so it will go bounce back. But that's if only our TA shows that our entry is right. But things are still complicated and what I do now is to confirm it in different Tf and in different indicator. If obviously trap in a wrong market price, stop the trade and reentry is a good choice.

[XZERO1]

It really depends on the condition of the market at the time and the fundamental of that coin, for example right now you could throw a dart at a dartboard that includes coins/tokens name and buy whatever it hit and wait for a while and make profit out of it, but it gets harder as the market get more bearish.

In my opinion you should obviously use stop-market at all times, but the question is where you put your stop-loss order, in a bullish market it's better to not use tight stop losses and place them where if that price hits that uptrend is pretty much is done for, but in a bearish or neutral market it's better to place them closer to your original entry price, in other words the more you're positive about that coin/token future price, the lower you can place your stop-loss, but don't ever get too positive about the market that it influences your decision on whether you should put a stop-loss or not.

[Sebas.tian]

Here are some of the things you need to understand  not to trade wrongly:
• Information: As a trader who want to remain efficiently in profit making must try to know how to access the right information from the right sources before trading. With good information you heard can make you far from wrong trade.

• Planning: planning will help you as a trader to always monitor the market price, so that you will not trade in the wrong time that will lead you to failure.

• Season: It is good you really understand the season of the market before trading, for you not to experience negative things in your trading.

[isaac_clarke22]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

I just did #1 and never went back. My first day trading experience was hella emotional rollercoaster and I wouldn't forget that crap really happened to me and I have no means of recovering my trade because of my panic reaction back then.
I guess I should've learned sooner the stop-loss strategy.
Oh well, another journal entry for my Trading Diary .

[Innerpumper]

I think besides that the channel and also the news can be petrified. Some of this time I traded by looking at the good news and a little technical it really went up. And there haven't been any big losses at the moment. because trading must be properly patient and thorough when entering. If we have analyzed correctly only a little potential loss and will be more profit.

[redsun114]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

This is actually very important and I learned this the hard way by facing quite significant loss when I just kept a coin for too long in hope that the market will recover and I can at least get the value for which I bought them. But I was new that time and failed to analyze that the project was dead and nothing was being done to improve the value or pricing of the coin and all the promises being made in their telegram group were fake and empty.

For anyone who by mistake purchases any such coin or token which you think is not going to develop into anything and the value will keep dropping, in that case sell the coin as soon as possible. But yes at times there will be a pump before the coin ultimately dies, so if there are chances of that happening, just use that opportunity and come out of the market.

[Lanatsa]

I think besides that the channel and also the news can be petrified. Some of this time I traded by looking at the good news and a little technical it really went up. And there haven't been any big losses at the moment. because trading must be properly patient and thorough when entering. If we have analyzed correctly only a little potential loss and will be more profit.

When doing trades then using up some fundamentals and with some mix of technical is much more better rather than on using pure technical alone.

It depends on which one would be effective or you do seem that it is most likely to happen. Profitability does really depend on how well you do deal with the market.

When you commit out mistake or make yourself caught on a hard situation then these will depend on how decisions you would take.
It all matters on risk management and making out decisions.

[livingfree]

Avoid applying emotions on your trade.

This is my biggest mistake when I was a newbie in trading, I became greedy and always hurt whenever I lose money, i got hype before and that’s not good in trading as you realize after losing money. There’s no such thing that you’ll always win in trading, you have to accept that you’ll lose some and you’ll earn some. Keep learning, have your best strategies always and stay consistent.

It happens to all of us.

Good, expert, new traders.

That's part of trading when we're looking to our trades because we are mostly thinking that it's going to be worthy if we wait a little bit longer and become greedy.

We're looking for a better gains but that's a proven wrong decision sometimes. It depends to the cryptos we trade and we buy and how long we're going to drop it out of our stash for profits.

[DarkDays]

It seems that even the more knowledgable people can find themselves at a cross road with their investments. And I start seeing this more often now, people, get attached to the coin or have the hope that it will turn green and wait.
Meanwhile everything else is pumping...

It's a difficult one to sit on, because nobody likes losses or going out with barely any profit but these are hard decisions we must take, and as OP suggested there are a few ways to minimise these but also their timing is just as important.

[lienfaye]

2. Use of stoploss all the time: This help your losses to be minimal.

This one is a must to save yourself from losing your money. Dont be greedy to earn more, make an analysis and timing the market. Sometimes we tend to forget the basic rules because we want to go with the flow and enjoy the ride, but its also important that we have plan to follow from the very start.

Set aside your emotion as well because it can affect our decisions everytime.

[palle11]

I somehow wait for that little hope that my entry will still be at profit. But, many times I failes that part. That is why I strongly agree on this part.

1. Stop the trade:

Yes you fail because you hesitate to stop your trade lol. It is difficult to do however because it is your money like wasted but it is also a bitter truth to take the option of stopping the trade. Okay you need to see the advantages you have when you stop it :

1. You stop it, you cut or reduce your losses.

2. If you reduce your losses, y have another chance tovtake another good order with more capital that you didn't lose with the initially losing trade.

3. It helps you to correct your mistakes. It is a learning process for you to adjust towards your mistakes.

Since stop loss was need to be triggered on my entry there is one scenario that Ive waited and readjust my stop loss price so it will go bounce back. But that's if only our TA shows that our entry is right. But things are still complicated and what I do now is to confirm it in different Tf and in different indicator. If obviously trap in a wrong market price, stop the trade and reentry is a good choice.

If you have the habit to readjusting your stop loss to high levels, you need to stop it because you will be losing more.

A losing market will keep you losing for that day, so why readjusting  your stoploss above or higher. This is saying instead of readjusting stop lose because of fear of being hit, you increase it and do yourself no good because the price may still take off your stoploss at such a high level of adjustment. Instead of increasing in adjustment, you can decrease in adjustment and this can be like a strategy for stopping a losing trade.

[crzy]

2. Use of stoploss all the time: This help your losses to be minimal.

This one is a must to save yourself from losing your money. Dont be greedy to earn more, make an analysis and timing the market. Sometimes we tend to forget the basic rules because we want to go with the flow and enjoy the ride, but its also important that we have plan to follow from the very start.

Set aside your emotion as well because it can affect our decisions everytime.

Setting up your cur loss price can really help you from losing big money. If you want to become more successful in trading, have this one always. I don’t know why many are not setting up their cut loss price, they tend to hold more even if they see the project is dumping that much, that’s a losing strategy.

[MCobian]

If the coin price movement does not match what we predict, it is better not to continue trading, we must exit immediately. In order not to deplete
our capital, therefore every time I trade I rely on stop-losses to save the capital that I have. Actually what causes us to often lose in trading,
because it involves too much emotion. If we want to be successful in trading, we must be able to control our emotions.

[Kelvinid]

If the coin price movement does not match what we predict, it is better not to continue trading, we must exit immediately. In order not to deplete
our capital, therefore every time I trade I rely on stop-losses to save the capital that I have. Actually what causes us to often lose in trading,
because it involves too much emotion. If we want to be successful in trading, we must be able to control our emotions.

No, it doesn't work like that. As a trader, you must have to be patient always, if the price dump, we have to wait to rise back and sell. That is why we should have to analyze first the trend on a particular coin before buying and must be preferred buying during the downside coz is surely pump in the next days.

Well, that stop-loss strategy is great and helpful but not a thing we should have to do always. If we can wait for the market to recover, better not to use that.

[adzino]

If the coin price movement does not match what we predict, it is better not to continue trading, we must exit immediately.

The market is unpredictable. You should not stop trading it if does not match your "prediction". This is not how trading is supposed to work. Unless you really trust yourself and you are not willing to take any risk at all, you should continue trading even if your expectations don't meet. You should always be prepared for the worst. Sometimes being prepared may help you take advantage of unknown/unpredictable situations!

Actually what causes us to often lose in trading,
because it involves too much emotion. If we want to be successful in trading, we must be able to control our emotions.

Unless you are some sort of machine, every human has emotions that they cannot control. Easy to say, hard to execute.

[TheUltraElite]

Once traded in the wrong direction it is done forever and there is no going back. Using a stop loss might have prevented that but once the event has occurred you cant reverse it.

Accepting the loss and moving on from it is the best and most mature way to tackling such a case. Those in hindsight having done a better work at researching the trend might have reduced the impact.

Bad case you end up with a shitcoin that is not going up - just sell it at any point and accept the loss. But the worst case is in margin trading where you get liquidated and lose your position.

[doctor877]

sometimes its good to reduce your loss especially if you do not have enough capital or good stop loss. at times a trade will hunt for stop losses before moving to the direction that you predicted. so a trader needs to have a good stop position, and then wait for events to play out , accept loses if it happens and profits if it comes. not all trades are good trades and not all good trades favour your prediction at first.

[matchi2011]

sometimes its good to reduce your loss especially if you do not have enough capital or good stop loss. at times a trade will hunt for stop losses before moving to the direction that you predicted. so a trader needs to have a good stop position, and then wait for events to play out , accept loses if it happens and profits if it comes. not all trades are good trades and not all good trades favour your prediction at first.

You need to accept those facts that not everytime your trade will favor your side, there are times that market will turned against you
and will let you lose your investment.

But you have to face things out if you are aiming for much better success, moving forward and analyze much deeper, learn from your
mistake and use it as basis in your future position.

[GreatArkansas]

sometimes its good to reduce your loss especially if you do not have enough capital or good stop loss. at times a trade will hunt for stop losses before moving to the direction that you predicted. (.....)

Are you entering a trade at first without a stop loss?
I think the best idea is to plan first before entering a trade, you identify your 1.) Entry price, 2.) Price Target, and 3.) Stop-loss.
Speaking of the stop-loss and price target, the best is also to measure the risk-reward ratio.
Where, how much you are willing to risk for this x price target?
You will risk 5% of your position size for 15% of profits, risk-reward ratio is 3, which for me is quite good, 2.5 - 3.

[ethereumhunter]

If the coin price movement does not match what we predict, it is better not to continue trading, we must exit immediately. In order not to deplete
our capital, therefore every time I trade I rely on stop-losses to save the capital that I have. Actually what causes us to often lose in trading,
because it involves too much emotion. If we want to be successful in trading, we must be able to control our emotions.

Losing control because of our emotions can be fatal because we will not see when the exit sign from the market. We will not be able to trade better because we can panic if we see the price is not moving as we predict. It happens to me many times, but fortunately, I can get out of the market before the losses become bigger. Sometimes we can be patient, but we can lose patience the other time, and if that happens, we need to leave the market as fast as we can before the situation becomes worst.

[gabbie2010]

a trader will always use stop lose and that's a natural thing, because if not the market can also change direction, especially when the price is high like this and suddenly dumps, you will survive, but if the situation is still bullish I would prefer not to use stop lose at spot market, because it is very risky, prices can return to their last price again.

There also some instances whereby a trade hits a stop loss and reverse to the intended direction of the buyer, it is very common in spot and crypto market when the price volatility is on a higher note, personally I deployed a virtual sort of stop loss while siting on my PC trading, once the price reach my stop loss zone and I am convinced that the price might not likely reverse I will manually close the trade and move on to the next opportunity which of course are numerous.

[konflikkastil]

This is one thing that we can't avoid when it comes to tra- ding. Prediction will go wrong sometimes. Sudden rise and sudden down can happen even against the forecasted trends. When you have studied the market maybe for days or so. And based of the trends you have studied, you now enter into a trade and the unexpected happens. Those are the factors we can not control. Cause the stock market or the Exchange market is control by lot of things beyond you power. In such case it will be advisable to use stop loss whole trading to reduce the risk to minimal. When this is done you can be rest assured that things will be under control even when you are not there to monitor the trade.

[posi]

I think people need to first know the area they can totally fit in when it come to been successful in cryptocurrency involvement. Crypto trading is just like gambling and every step or decision make have its own risk involved. Some people are better off with doing buy low and sell high while some are doing good through day trading but the most important is knowing where you actually fit in and don't be greed.
Speaking the stop loss, is the strategy every successful trader use but crypto investors who are not born a trader will find it difficult to use.

[nelson4lov]

~Snipped

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

You've got some pretty nice tips up there. However, I like to think that what we do about our losing trades ultimately depends on the situation at that point in time. I mean, I've seen losing trades turn to winning trades and vice versa.  Majority of the time, our analysis might be off by a few % here and there; say 0.5% - 2% then the trade resumes back in the direction we originally intended for it to go.  I've seen professional traders that apply DCA at support levels to keep their positions open for as long as possible. Like I said, it depends .

[seleme]

Taking the loss is the wise trader's decision, the ignorant traders will keep chasing the losses until they rekt. The volatility is dangerously high on crypto markets and chasing loss is the last desire of any crypto trader because the loss can take years to recover if the market trend goes against our trades. Cutting loss and letting the winners go is the main key for success in the crypto trading.

I think people need to first know the area they can totally fit in when it come to been successful in cryptocurrency involvement. Crypto trading is just like gambling and every step or decision make have its own risk involved. Some people are better off with doing buy low and sell high while some are doing good through day trading but the most important is knowing where you actually fit in and don't be greed.
Speaking the stop loss, is the strategy every successful trader use but crypto investors who are not born a trader will find it difficult to use.

Crypto markets are volatile and traders who trade volatility are not gamblers. The risks are there, if a trader wishes to risk he will go for it. Otherwise, it is not right to call trading volatile crypto markets equals to gambling on dice.

[Jaycee99]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

1. At some point, you're saying this likely and maybe from experience or from a lesson from someone would say to stop the trade your right in a different way like when you play a game of gamble and win money people earn double from their bet that they should stop.

On the other hand, trading is different yes you gamble here you invest and you will gain good knowledge here that can make it triple possibly.

2 That is a suggestion for people who lose the investment or their money from trading and it's a common way for people who truly know what is going on. Which for me is good for newbies.

3. It is also a common thing to do if you are really the assurance type.

Still, in the end, everyone has their own way to make their money do triple and if they're smart they will know how to stop and set the limit.

[Ridwan Fauzi]

You are allowed to not use stop lose feature as long as you are predicting that the coin price movement will increase after its price meet a correction. Or you only use 1x or 2x leverage on your trading system.

I guess, many new traders will lose their money because they trade on future marker and using high leverage. Yeah,  I've been seen new trader just act like the gamble their money when they trade and using high leverage.

The leverage system is bad for some traders especiallt for new trader that only guessing the price movement but its feature can help a pro trader that can give a huge profit small capital. Each traders will have its own problem and never be same with another trader, so you have to solve your problem with learning about trading system.

[Oilacris]

Taking the loss is the wise trader's decision, the ignorant traders will keep chasing the losses until they rekt. The volatility is dangerously high on crypto markets and chasing loss is the last desire of any crypto trader because the loss can take years to recover if the market trend goes against our trades. Cutting loss and letting the winners go is the main key for success in the crypto trading.

A matter of choice for someone to make because not all holding situation will  end up on that way and some of them would just simply recover in no time and thats what other people been thinking.

This isnt something a noob kind of action for someone to take, it is just a matter if the market did really move on the way you expect or it totally opposes.

So somewhat this do mix out some sort of luck because profitability will really be depending into your trading decisioning skills.

[CryptopreneurBrainboss]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

I have gone into a trade that took out almost 90% of my initial capital, stayed in that trade and later profited because I didn't just invest due to fomo or hyped from others. I studied that project saw they had fundamentals and are still growing. My entry was just wrongly timed as when I entered was when the retracing was about occuring.

Must trade we enter and start recording losses is because of this same thing. You can easily make profit holding in the industry, if we can just be a little bit patience as just when you're about selling that's when the selling pressure of that particular coins is cooling off and the project is ready for a upward movement.

[hayden.blank]

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

1. You can gain loads if you trade right, also choose a platform which has really low fees
2.  Yep this is an effective one! I do highly recommend stop loss

[RealMalatesta]

Losing control because of our emotions can be fatal because we will not see when the exit sign from the market. We will not be able to trade better because we can panic if we see the price is not moving as we predict. It happens to me many times, but fortunately, I can get out of the market before the losses become bigger. Sometimes we can be patient, but we can lose patience the other time, and if that happens, we need to leave the market as fast as we can before the situation becomes worst.

I think it is quite obvious that there are some people who are insisting on things way too much, and it is really not simple to make those people see it neither because they are stubborn people, when prices fall and they will fall one day (not saying soon or years later, just saying "one day") that means there will be a lot of people who didn't use a stop loss and lost a lot of money, I always get my stop loss ready but only thing I am a bit afraid of is the money I have in BSC which doesn't have a stop loss and locked for few days a time, so if it gets locked at any point, I may actually end up losing quite a few amount of money, that is why I am trying to make sure I am always aware of what the price is there, because I would like to get out at certain price if it reaches there which I would be still in profit without the price dropping enough to make me lose money.

[ethereumhunter]

Losing control because of our emotions can be fatal because we will not see when the exit sign from the market. We will not be able to trade better because we can panic if we see the price is not moving as we predict. It happens to me many times, but fortunately, I can get out of the market before the losses become bigger. Sometimes we can be patient, but we can lose patience the other time, and if that happens, we need to leave the market as fast as we can before the situation becomes worst.

I think it is quite obvious that there are some people who are insisting on things way too much, and it is really not simple to make those people see it neither because they are stubborn people, when prices fall and they will fall one day (not saying soon or years later, just saying "one day") that means there will be a lot of people who didn't use a stop loss and lost a lot of money, I always get my stop loss ready but only thing I am a bit afraid of is the money I have in BSC which doesn't have a stop loss and locked for few days a time, so if it gets locked at any point, I may actually end up losing quite a few amount of money, that is why I am trying to make sure I am always aware of what the price is there, because I would like to get out at certain price if it reaches there which I would be still in profit without the price dropping enough to make me lose money.

That makes sense because we can not depend on the market movement as the market will always change every minute. We need to know when we must get out of the market and not force ourselves if we see it is hard to make money. It is better to leave the market before the situations become unpredictable because that can make us lose money. Using the stop loss will be advisable to all traders because that prevents them from losing much money or before the price drops too far.

[Nunoluck]

Although that's good strategy but sometimes i feel doubt to make decisions like that. For now I always trying to start trading at good position so I can make sure that the price is tend to rise. We need to do stoploss so we can get better possition in trading. I didn't do day trading so I rarely do stoploss because mostly I just hold my btc, and it's work. I get a lot of profit only by holding bitcoin for several months after I bought it. But I can't do the same strategy with altcoin, I need to do stoploss to avoid financial loss and buy other cryptocurrency which has good market condition so my money can keep grow.

[RealMalatesta]

~snip

That makes sense because we can not depend on the market movement as the market will always change every minute. We need to know when we must get out of the market and not force ourselves if we see it is hard to make money. It is better to leave the market before the situations become unpredictable because that can make us lose money. Using the stop loss will be advisable to all traders because that prevents them from losing much money or before the price drops too far.

Stop loss is a big big big time life saver, it is really the thing that makes sure that you do not lose all your money. Ever since I figured out what it was and how to use it, I have had stop loss aside from those defi tokens I mentioned.

Aside from that I agree that markets change so much and so quickly, you are right that it could literally change in minutes, which is why crypto is a full time job if you really want to make money from it, I know that some people do not care about it that much and that is good on them, but if you want to make real amounts of profit from it, you should always be on the lookout, not only because it may drop and you may lose money, but it could also drop and you could buy and make a profit later on, being active as long as you can for hours every day would make it easier for you to profit from it so everyone should give the most care they can.

[abel1337]

On my adventures on trying and experiencing futures trading, I realized that stop loss and cutting out trades is one of the best things to do when you think that the support line you are expecting to withstand the selling pressure cant hold. Cutting a trade is the best when you see your trade isn't going as planned, so cutting a trade can help you minimized the damage from the failed plan.

[seleme]

Taking the loss is the wise trader's decision, the ignorant traders will keep chasing the losses until they rekt. The volatility is dangerously high on crypto markets and chasing loss is the last desire of any crypto trader because the loss can take years to recover if the market trend goes against our trades. Cutting loss and letting the winners go is the main key for success in the crypto trading.

A matter of choice for someone to make because not all holding situation will  end up on that way and some of them would just simply recover in no time and thats what other people been thinking.

This isnt something a noob kind of action for someone to take, it is just a matter if the market did really move on the way you expect or it totally opposes.

So somewhat this do mix out some sort of luck because profitability will really be depending into your trading decisioning skills.

The market will surely move in the favor of the trader who holds the underwater trade for a long time but the trader's capital will handle this long time or not is the question. Does it worth waiting for the reversal? What if the market goes against your prediction for years? The fees on margin accounts can eat the profit at the end of the trading session.  The lower fees on some platforms are attractive for some period of time but the trading platforms are not good to trade the large amount. Just my 2 cents.

[Shasha80]

I am sure almost everyone has made mistakes when trading, what we have to do is correct our mistakes when trading. And the most important thing
in crypto trading is to maintain patience, because sometimes the market does not go according to our predictions. What we do is still be patient and
don't be too hasty to stop trading. Because if we are patient, sometimes the market when the dump recovers immediately. Because usually the mistake
that happens a lot is selling coins too quickly and buying coins at too high a price. Both of these things can be avoided if we have patience and
the right analysis.

[CryptopreneurBrainboss]

And the most important thing
in crypto trading is to maintain patience, because sometimes the market does not go according to our predictions.

I don't think patience is the most important thing in trading, patience IMO has always been a great attribute of holders and they should have it at all times. Investing is when been patience should come into the picture, a trader should be smart since his profession revolves around trying to outsmart the market.

While been patience can also help in trading but it shouldn't be emphasis on since it can cost you big time, remember you're not investing into the project you're just trading it. A trader should never get attached to the project they're trading, all you should be concerned about is profiting from that particular trade which is why if the trade isn't going your way, you can option out like what the OP is suggesting.

[tygeade]

Trading is not a mathematical equation based on a rule: do this and you will win such-and-such.

As much I think about this I feel this is such a strong statement. People often tell others what to do and what to avoid but with trading we can't get consistent unless we ourselves learn and make our own strategies.

Personally, I do not use a stop loss order, but the strategy depends on the type of trade you want to make and the profits you want to achieve.

I don't use stop loss either when I am holding limited number of assets but when I am having many coins and I feel like I might lose the track of their value and how much up and down they are going, I usually place sell orders on a specific price.

Nothing is predictable until it happens, even the best crypto can cause people to lose and the shit coins can make the people rich so it all depends on how you assist the market condition better than others.

Right but there are times when you will clearly realize that the coins you hold are no longer useful, I used to hold a lot of reddcoins earlier like years ago and I realized the coin was not good enough after a while and I sold them for some loss but still way better than what I would have sold them now.

[iv4n]

I am sure almost everyone has made mistakes when trading, what we have to do is correct our mistakes when trading. And the most important thing
in crypto trading is to maintain patience, because sometimes the market does not go according to our predictions. What we do is still be patient and
don't be too hasty to stop trading. Because if we are patient, sometimes the market when the dump recovers immediately. Because usually the mistake
that happens a lot is selling coins too quickly and buying coins at too high a price. Both of these things can be avoided if we have patience and
the right analysis.

No one is perfect! You can have a high success rate, but there's no 100% I believe!
I think cutting losses is alright, but not with Bitcoin... simply Bitcoin always recovers and makes new ATH! Sometimes you need to wait a bit longer for that, but that happens!
When you cut losses, it can be a wrong thing sometimes, you sell it but the price bounces back, and what did you do?! You are short!
So any trading strategy can be good if you use it at the right time! I guess you just need to keep it simple as you can and don't overthink it, it will cause more troubles than benefits!

[Atek33]

I think every good deed has a bad deed in the same way if you are trained and if you are a good trader you can have a good income but of course in trading you can have some mistakes every trader  Making small mistakes, of course, I think trading can be a block for you, but you should not pay too much attention to it.  Think about how you can make a profit in the future

[Yatsan]

We must do always set limitations on how long can we wait and endure seeing the coin we believe to make a come back can really make it a point to regain from its loss. It will not always work on dealing with a coin that have no hope at all. Better to keep on going by letting go such kind of coin and find other potential coin so you will not already be wasting your time waiting for that coin to make a come back. If it is really meant to be, then it would be. But always do consider to keep moving forward no matter what for the reason that your aim on trading must gain profit and not to earn losses. You must cut your losses by the time you see no progress after a long period of time just to be able to save and make use of your remaining fund in that coin into much worthy trade.

[Clement Kaliyar]

No one is perfect! You can have a high success rate, but there's no 100% I believe!
I think cutting losses is alright, but not with Bitcoin... simply Bitcoin always recovers and makes new ATH! Sometimes you need to wait a bit longer for that, but that happens!

There is no method that is having hundred percent success rate but you can make the decision on not to sell at a loss.
You can cut losses if you are in any other market but with bitcoin you can hold them if you are at a loss but that cannot be said with any other coin in the market.

When you cut losses, it can be a wrong thing sometimes, you sell it but the price bounces back, and what did you do?! You are short!
So any trading strategy can be good if you use it at the right time! I guess you just need to keep it simple as you can and don't overthink it, it will cause more troubles than benefits!

I am not a day trader and if i am selling the coins i will make sure that i will get the maximum profit and i will never keep a stop loss now, but a few months from now or at the end of the year i might put a stop loss to book my profit as we expect a major correction but not any other time simply because of the high volatility.

[Julien_Olynpic]

I think that the rules given by the author are good only so as not to quickly lose your deposit. But with such rules, you can only earn by chance. Why? They offer too few benefits to the trader.
    There is such a thing as a long series of failed trades. How to be in this case? Exiting the trade by stop loss will lead to a slow loss of the deposit. Often, the stop loss does not provide an opportunity to wait out the position drawdown. And often, after exiting a position by stop-loss, the price moves in the direction you need, but without you.

[cyriljundos]

actually traders are in wrong technique sometimes when the coin is slowly pumping they sold their coin with the least percentage and sometimes many traders buy a wrong coin and starting to lose their investment, short trades and cant hodl most of the time common error of trader

[palle11]

And the most important thing
in crypto trading is to maintain patience, because sometimes the market does not go according to our predictions.

I don't think patience is the most important thing in trading, patience IMO has always been a great attribute of holders and they should have it at all times. Investing is when been patience should come into the picture, a trader should be smart since his profession revolves around trying to outsmart the market.

While been patience can also help in trading but it shouldn't be emphasis on since it can cost you big time, remember you're not investing into the project you're just trading it. A trader should never get attached to the project they're trading, all you should be concerned about is profiting from that particular trade which is why if the trade isn't going your way, you can option out like what the OP is suggesting.

Thank you here. Talking about patient, it won't get you anywhere if you are already in a market that is losing and you are being patient for you to regain your losses. You may keep losing and lose all.
Like @CryptopreneurBrainboss said we need to remember this is about trading not hodling. These are different systems and are handled differently. Patient can be good before filling your orders, you can be patient till you get the best signal to go in and if you go in, patient becomes replaced by decision to continue staying or exiting. Use stoploss instead of patient in trading.

[Inkdatar]

Lack of knowledge and also not wanting to learn makes so many people who want to become traders have to lose money. it takes time to be able to trade optimally. this is not an easy job because here we are risking money. if without analysis we are only gambling on the market without having definite knowledge. Especially with the current price increase, I think many people are starting to buy for investment.

This is why others loss their money because of lack of knowledge. When we want to achieve something in crypto or we want to be successful we have to learn the process in order for us to earn. Yes trading is not an easy job because of the risks that price are volatile so above steps is imporant to apply a stop loss to avoid loss.

[tvplus006]

...3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Using a stop loss does not always lead to the correct result. Very often, after a sharp movement, the price instantly recovers to the previous one. In such cases, if you use a stop loss, your order will be closed and you will record a loss. My opinion is that it would be more correct to close the order yourself, after the price is fixed below the support level or above the resistance level.

[redsun114]

Lack of knowledge and also not wanting to learn makes so many people who want to become traders have to lose money. it takes time to be able to trade optimally. this is not an easy job because here we are risking money. if without analysis we are only gambling on the market without having definite knowledge. Especially with the current price increase, I think many people are starting to buy for investment.

And another important thing is that they think it is so easy to make money, like they "found something that will 10x and make them rich" and invest all-in and think they will get away from every problem in life regarding economy. If it was that simple, don't you think that everyone would be rich right now, if the path to success and wealth was that simple, don't you think all 7+ billion people in the world would do that same thing?

I mean what do you think other people do "oh no thanks I do not want to be rich" and just deny it? It is not that simple, and those people who do not want to learn, study, get better, train and practice for years just think that it is that simple. The path for being a good trader comes from years of expertise and only after that you start to make some money from trading, if you are looking for a shortcut you are not making any sense at all.

[imstillthebest]

but why will we stay if its wrong  .
if i know that its wrong i will correct my mistakes imediately because im not rich to afford to loose big by staying on a wrong situation for a long time but for a new trader that isnt aware that his trades are wrong i guess that was okay at first but eventually he need to get aware of it because if he experience it again and again ,
i guess that is not acceptable anymore for him because he is the one that is loosing and also for the people around him that sees it because they can also feel bad about it

[wxa7115]

It seems that even the more knowledgable people can find themselves at a cross road with their investments. And I start seeing this more often now, people, get attached to the coin or have the hope that it will turn green and wait.
Meanwhile everything else is pumping...

It's a difficult one to sit on, because nobody likes losses or going out with barely any profit but these are hard decisions we must take, and as OP suggested there are a few ways to minimise these but also their timing is just as important.

One thing that I have notice is that a great deal of traders are somehow obsessed with being right instead of being obsessed with making profits, which is somewhat surprising if you ask me, instead of focusing on how much money they have made they concentrate on whether they are right all the time when predicting the market and this is a dangerous attitude to have.

And this is because as we know we all make mistakes so once the markets goes against you instead of simply accepting the mistake they made and move on they try to prove the market wrong and demonstrate the market they were right all along, and once that attitude takes hold it is just a matter of time until the trader losses a lot of money as there is no way a single trader can oppose the whole market.

[lixer]

I think every good deed has a bad deed in the same way if you are trained and if you are a good trader you can have a good income but of course in trading you can have some mistakes every trader  Making small mistakes, of course, I think trading can be a block for you, but you should not pay too much attention to it.  Think about how you can make a profit in the future

The truth is that even the experienced traders fail to make money consistently, not all but some. Being a passionate trader, I have always been in touch with a lot of traders on telegram and joined many groups, half of which were scam but one thing I learned from all my experience is that even the best traders suffocate when the market is down and when the market is bullish then even the worst ones make easy money. It more depends on what time you are trading then how experienced you are with trading.

Of course having experience helps because it makes you stand strong in times when others would panic but having experience doesn't really guarantee you success at all.

Holding for too long a coin that's useless might look foolish but ask doge coin holders, they kept the faith and Musk paid off.

[redsun114]

Lack of knowledge and also not wanting to learn makes so many people who want to become traders have to lose money. it takes time to be able to trade optimally. this is not an easy job because here we are risking money.

Everyone wants to learn, there would be hardly a single guy who is trading for years but denies to learn. Yes some are slow learners while others are fast learners but everyone wants to and ultimately learns when trading for years.

I have done what you wrote, I always apply stop loss and it becomes a profit barometer in my trading. so it can help to reduce losses and can also help to start a healthy trading start. very useful stop loss site

Stop loss can help you minimize loss, but it might also snatch away any chances of recovery and there is always a debate whether we should hold a coin and wait for the price to recover or we should sell it without being too greedy, I always think if there is even a slight glimmer of hope, then just wait and sell your coins for the best possible price.

[LUCKMCFLY]

Lack of knowledge and also not wanting to learn makes so many people who want to become traders have to lose money. it takes time to be able to trade optimally. this is not an easy job because here we are risking money.

Everyone wants to learn, there would be hardly a single guy who is trading for years but denies to learn. Yes some are slow learners while others are fast learners but everyone wants to and ultimately learns when trading for years.

I have done what you wrote, I always apply stop loss and it becomes a profit barometer in my trading. so it can help to reduce losses and can also help to start a healthy trading start. very useful stop loss site

Stop loss can help you minimize loss, but it might also snatch away any chances of recovery and there is always a debate whether we should hold a coin and wait for the price to recover or we should sell it without being too greedy, I always think if there is even a slight glimmer of hope, then just wait and sell your coins for the best possible price.

The last thing I have learned is that great traders and investors never use stops or take profits, they are always in the market, of course, they position themselves in the only two ways to take advantage of the market, one long and the other short leveraged, it is a risky technique but it always allows you to be in constant movement of money and you never miss market movements, even to take profits they do it at any time. This is already something more professional and I have no idea very well how it is done, but this is a total reality.

[Xinarae*]

A wrong trade puts the trader at risk if they trade without knowing anything about the market they lose everything and spend the day. A successful trader will never trade without a good market analysis they are at a loss but try to minimize the damage in the next step holds are not limited to one place by constantly analyzing the market the business trades and increases the amount of its own capital. They learn slowly and move forward using their experience wherever the market goes successful traders can take risks.

[TheUltraElite]

actually traders are in wrong technique sometimes when the coin is slowly pumping they sold their coin with the least percentage and sometimes many traders buy a wrong coin and starting to lose their investment, short trades and cant hodl most of the time common error of trader

The terms "wrong technique" "wrong coin" are subjective.

How a person wants to sell to make profit is their personal choice. I would prefer to sell in fractions as the price keep going up so I can milk out every part of the wave but someone might not be willing to follow that, does not make them wrong.

Coins though, I would say other than bitcoin anything else is a waste of effort and money. Still some altcoin trader might make more profits than bitcoin maximalists. So you cant argue there about their foresight.

It needs to be a mix between hodling and trading actively. Buying at the wrong time is the most common mistake done by many traders.

[Pamadar]

actually traders are in wrong technique sometimes when the coin is slowly pumping they sold their coin with the least percentage and sometimes many traders buy a wrong coin and starting to lose their investment, short trades and cant hodl most of the time common error of trader

The terms "wrong technique" "wrong coin" are subjective.

How a person wants to sell to make profit is their personal choice. I would prefer to sell in fractions as the price keep going up so I can milk out every part of the wave but someone might not be willing to follow that, does not make them wrong.

Coins though, I would say other than bitcoin anything else is a waste of effort and money. Still some altcoin trader might make more profits than bitcoin maximalists. So you cant argue there about their foresight.

It needs to be a mix between hodling and trading actively. Buying at the wrong time is the most common mistake done by many traders.

In times where the market is not moving according to how you percept things.

There's always incident that you encounter wrong position, timing is  very important making small mistake affects the entire process. it's not an easy task as experienced plays a big role each time you assess and take your position. This volatile nature nature around can either be your friend or nighmare once you mistakenly place your investment to the wrong projects.

[tvplus006]

The biggest mistake in trading is to re-enter the trade after a closed stop loss. This usually happens for the sole purpose of recovering what was lost on the previous deal, and it is most similar to a casino when the loser tries to win back. Before opening a new deal, you need to analyze the reasons why you lost your money.

[Kasabus]

A wrong trade puts the trader at risk if they trade without knowing anything about the market they lose everything and spend the day. A successful trader will never trade without a good market analysis they are at a loss but try to minimize the damage in the next step holds are not limited to one place by constantly analyzing the market the business trades and increases the amount of its own capital. They learn slowly and move forward using their experience wherever the market goes successful traders can take risks. It can't be perfect but at least, we are near to that.

We must have to prepare ourselves before then. Many traders come into crypto trading knowing nothing, they simply know how to buy and sell but the most important is to know when will be the best time to do those things.

1. Stop the trade:

This is the best option to do. We should not force ourselves if we know that we can't able to perform well in trading. Because the more we got into trading, the chance is also big that we still at lose. Maybe it was common-sense for everyone (and I hope so). May learning will help but we can't imagine how much money we lose before we correct our mistakes.

[geegaw]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

If you find some coin which you had invested is not a potential one.Kindly get back your step.Take decision was a important one in the trading.Some less potential coin get drain all your money.So it's better to convert your coin to bitcoin or USDT ,when you come to know it's not a worthy for your money. Setting back is not a cowardness.Sometimes it's essential one.

I very much agree with you when in the past I was very obsessive about holding, I almost always maintain a maximum patience with the tokens I choose even if someone else has said it is not potential, even in leverage trading, the same mistakes come to me very often, always hold until that token is forced to liquidate and the account burns out hard on a very nice day. Setting stop loss and turning back, even accepting we were wrong is never the plan of the cowardly, cowardice is when we are wrong, but we continue to follow that path to prove we are not wrong

[Benefactor]

I saw a ton of exchanging effective posted via web-based media and it makes publicity particularly on Futures exchanging, and that is the reason numerous novices began to do something very similar expecting to get tremendous benefit also, and think about what the vast majority of them lose a great deal of cash in prospects. It happens to me ordinarily, yet luckily, I can escape the market before the misfortunes become greater. Now and again we can be patient, however we can become annoyed the other time, and if that occurs, we need to leave the market as quick as possible before the circumstance turns out to be most exceedingly awful.

[djmixen]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

As individual traders, we must learn from every mistake that we made before. As you stated in the above mentioned if I am not mistaken,
these are the community who always came up to the point when the price value always get down in the market, isn't that right?
Just correct me if I am wrong. Thanks and have a good day.

[jaberwock]

The biggest mistake in trading is to re-enter the trade after a closed stop loss. This usually happens for the sole purpose of recovering what was lost on the previous deal, and it is most similar to a casino when the loser tries to win back. Before opening a new deal, you need to analyze the reasons why you lost your money.

Unfortunately too many people make that mistake because they believe it will recover right away.

This is why it is important to know what resistance levels and support levels are, if I put a stop loss I put a stop loss just a small bit under the support line which means that if that support line is broken there is a 99% chance that price of bitcoin will go down until the next support line, for example when it was under 47k it was obvious that it would go to 44k as well, in that case what you should do is put a sell order at about 46.8k levels and when it is reached and you sold because of stop loss, put another buy order at around 44.2k level, if you do this you will profit obviously.

[goldade]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Use of stop-loss at all times is practically one of the safest measures to take against losses. This is advisable not only to new traders but also expert traders. These expert traders, many times, depend on their ability to predict the market and forget to set stop loss only to discover they've lost all just because they took a short break.
Adjusting stop loss is a good way to minimize loss and to lock in profits. This is one thing I do in all the trades I have the time to monitor. I adjust my stop loss every time a significant amount of profit has come in and I get it locked in.
Stopping the trade when it's a loss position is one of the most difficult thing to do when trading. Many people believe there'll be turnaround and it will eventually end in profits. Sometimes, this happens and profits are made but many times, it ends in a loss.
So one should be able to know when to stop a trade and when to leave it.

[LUCKMCFLY]

2. Use of stoploss all the time: This help your losses to be minimal.

This is the best way to succeed in crypto currency trades with minimum losses; always use stop loss, with the usage of stop loss you get to decide the percentage losses that you are able and willing to bear; and you stay safe 90% of the time. Trading without stop loss, is like driving a car without fuel, you would run out of funds. Always do your own research

The proper use of Stop Loss is excellent when you have control of what you are willing to spend, many times when trading is not fully determined how much the person is willing to lose, the person only has in mind how much he wants to win , and already out there is a mistake. If people before trading wondered how much they are willing to lose, things would work out differently.

The stop loss even serves to extend the win, when we are in a winning position many take 100% profit, but if we only take profit of 60% and let the other 40% run, we would be earning more, only the Stop Loss would be manipulated.

[XCANA]

Many traders Still find it difficult to know they are in wrong trade because they are lack of personal research. Always try to verify the information you got from the forums of investment to know if you will continue with that wrong trade or stop it before it lead you to failure.
Wrong trade has collapsed so many traders because they failed to discover that they are in the wrong direction by using the right channel to quit immediately. It is better to always check your trade to know, if the trade will bring good news or bad news before seeing the real result.

[pawanjain]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

That's the story for most of the traders I guess. No matter how good of a trader we are, we always hope to maximize our profits.
This is where many of us fail and wait a little longer in the hope to rake back profits but end up losing them.
This is why a dedicated strategy is a must and more than that, a strong will to follow the strategy is definitely needed.
As you said, we should always put the stop loss since it helps us many times to stop losing more.

Stopping the trade is something we should do when we have no idea what to do or what strategy we should use at that particular time.
Times like these do arrive but frequently stopping the trade might also make us lose the opportunities to gain from the market.

[Slow death]

for example when it was under 47k it was obvious that it would go to 44k as well, in that case what you should do is put a sell order at about 46.8k levels and when it is reached and you sold because of stop loss, put another buy order at around 44.2k level, if you do this you will profit obviously.

after $47000 the price when it falls to $46500 to $45000 tends to have a strong support and increases in price again, so putting a stop loss in 46800 $ can be a little risky and the person will be able to see the price fall and increase soon... the problem in this cryptocurrency market is that it is different from other markets, here when the person thinks that the price will fall the price increases and all because you never know when something unexpected will happen that could cause the price increase very suddenly

[TheUltraElite]

In times where the market is not moving according to how you percept things.

Definitely possible to counter such a time. The way to counter that is to wait it out till the dust settles. If you have done a wrong trade, minimize losses if you are certain that it is going the wrong way, but if you have a source of confidence behind your trade dont close that position yet. In most cases the trades are not backed by research and then these panic inducing situation pop up.

This volatile nature nature around can either be your friend or nighmare once you mistakenly place your investment to the wrong projects.

Its better to invest in bitcoin only to prevent any such "nightmares" in future. With a low buying price you will never have a problem selling at profit in bitcoin but for altcoins I cannot say the same. Hence without throwing money or time on newly popped up shitcoins, buy bitcoin when the price is low.

[Lordhermes]

Many traders Still find it difficult to know they are in wrong trade because they are lack of personal research. Always try to verify the information you got from the forums of investment to know if you will continue with that wrong trade or stop it before it lead you to failure.

Some coin doesn't really need to do proper research before regretting the heavy loss it gives on you. Some coin would need to experience some heavy corrections to start pumping again, I discovered there is a better way to go about such situation, the best way is to increase the amount of the token by trading and building the number of token you have even in the heavy loss on you. While holding in loss, you equally increasing quantity, this can only help when market recover.

[blockman]

Some coin doesn't really need to do proper research before regretting the heavy loss it gives on you. Some coin would need to experience some heavy corrections to start pumping again, I discovered there is a better way to go about such situation, the best way is to increase the amount of the token by trading and building the number of token you have even in the heavy loss on you. While holding in loss, you equally increasing quantity, this can only help when market recover.

That's really what happens. When it's going through a massive correction, you're just waiting for a little bit of time for its recovery and reversal. It's the cycle of most of the coins and that's what I've observed too. And I agree about buying if it's in the correction, that's the famous quote about buying low and selling high. Upon buying during corrections, the price gets cheaper and you'll be getting more tokens or coins that you're buying during that time.

[CryptocurencyKing]

I think the right thing here should be, how to identify a wrong trade.

Thats because,  if you don't have a means to knowing if this is a wrong trade, how then can you be so sure not to stay?

Knowing that the market is a highly volatile environment and that trends can change at anytime and at any point so, how then can you be so sure of living or of a trade being a bad trade if you've got nothing to red flag the trade or as a notation for such.

Well, it could be about the emotions that comes with it in most cases, I saw a tutorial once that spoke about, if your aren't comfortable with whats living then, its best you just stop at such points.

[AakZaki]

Its better to invest in bitcoin only to prevent any such "nightmares" in future. With a low buying price you will never have a problem selling at profit in bitcoin but for altcoins I cannot say the same. Hence without throwing money or time on newly popped up shitcoins, buy bitcoin when the price is low.

Buying bitcoins when the price is low or the price deep is the best option instead of buying obscure shitcoins. But to find out the lowest price of bitcoin requires analysis and analysis that you have to do yourself. learning technical analysis and fundamentals is very necessary and will help in maximizing trading to find out market conditions. There are also some people who follow other people's analysis to be able to buy bitcoin at a lower price and it doesn't matter as long as that person is an expert.

[fahmimajannat]

Yeah actually its better to take the decision when to quite.
There is a stop loss system which you can use while trading to avoide potential losses. But in this case you have to anlayse the market correctly and identify the price point where to actually sell.
So be careful while trading and learn how to use the stop loss System. 
So that you can minimize your risk

[sayaya17]

Wrong trading will indeed cause losses for many traders. Moreover, we know that crypto trading is very risky, so that is why many traders
take advantage of the stop loss function in their trades, so as to minimize the risk of loss. But what we should really avoid is buying in a high
price state. We can see this in the chart, whether the coin is trending down or trending up. Maybe this could help in the point of entry.

[palle11]

Some trades we take are in wrong direction but because we want to be hopeful that it will come back to profit, we allow it and it close against us. If we keep doing this, it is the exact opposite attitude of someone that wants to keep their initial capital.

There are steps you can take to reduce the loss before you lose every thing or it get to your stop loss and such is

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

2. Use of stoploss all the time: This help your losses to be minimal.

3. Try to adjust your stoploss: You can do this if your trade is already in profit and you suspect that it is going back to your entry price, so you can take your stoploss to entry and all the order to run for profit or it stops at your entry.

Moreover in this choppy market there are too large wicks therefore the stop loss gets hit and markets reverts back to normal stage pretty quickly. Now what is the solution in such cases?

You don't have to look at the times your order hit stop loss but the times you also take profit.
The benefit of stop loss is that you have more opportunity to win back your lose because you have capital to make another order and not allowing your trade to blow you out by not using stoploss.

Trading with stoploss is a professional pattern. Price is fluctuating and no body can determine in actuality, the rate it can go that's the need for stoploss. To wedge your losses is better way to trade.

[btc-facebook]

1. Stop the trade: This is very good but difficult for many traders to do it but if you do that, you have potential loss that you have saved.

Stop the trade is not a bad decision, it's better to lose a little than to lose more because you force yourself to trade,
but if I can give any additional advice, it is better to stop trading for a while and use some of our capital to learn technical analysis of trading, this is the right way than forcing ourself to trade.

[livingfree]

Stop the trade is not a bad decision, it's better to lose a little than to lose more because you force yourself to trade,

That's why stop loss has been invented.

but if I can give any additional advice, it is better to stop trading for a while and use some of our capital to learn technical analysis of trading, this is the right way than forcing ourself to trade.

Or better don't trade at all if you're not emotionally prepared because it's too tough to defeat the mental effect that trading brings to a trader. Specially, if the trader is a newbie.

[btc-facebook]

but if I can give any additional advice, it is better to stop trading for a while and use some of our capital to learn technical analysis of trading, this is the right way than forcing ourself to trade.

Or better don't trade at all if you're not emotionally prepared because it's too tough to defeat the mental effect that trading brings to a trader. Specially, if the trader is a newbie.

Emotions and mentality can be controlled by learning proper trading management, which is why every trader is encouraged to trade using his own plan, not following trading signals.
As long as the trader understands this method, he can control greed and minimize losses, but this can be done if the trader realizes that with his shortcomings, without realizing it all will be in vain.

[livingfree]

but if I can give any additional advice, it is better to stop trading for a while and use some of our capital to learn technical analysis of trading, this is the right way than forcing ourself to trade.

Or better don't trade at all if you're not emotionally prepared because it's too tough to defeat the mental effect that trading brings to a trader. Specially, if the trader is a newbie.

Emotions and mentality can be controlled by learning proper trading management, which is why every trader is encouraged to trade using his own plan, not following trading signals.
As long as the trader understands this method, he can control greed and minimize losses, but this can be done if the trader realizes that with his shortcomings, without realizing it all will be in vain.

Following trade signals isn't really a good idea.

I have never followed any of those because I know that they're not worth to follow and mostly a waste of them. Although some have said that it's perfect for them and did good.

And that's good if it had worked for some but not really recommended.

[stomachgrowls]

but if I can give any additional advice, it is better to stop trading for a while and use some of our capital to learn technical analysis of trading, this is the right way than forcing ourself to trade.

Or better don't trade at all if you're not emotionally prepared because it's too tough to defeat the mental effect that trading brings to a trader. Specially, if the trader is a newbie.

Emotions and mentality can be controlled by learning proper trading management, which is why every trader is encouraged to trade using his own plan, not following trading signals.
As long as the trader understands this method, he can control greed and minimize losses, but this can be done if the trader realizes that with his shortcomings, without realizing it all will be in vain.

Following trade signals isn't really a good idea.

I have never followed any of those because I know that they're not worth to follow and mostly a waste of them. Although some have said that it's perfect for them and did good.

And that's good if it had worked for some but not really recommended.

Those are just obviously some bluffs because if they are really making sustainable good trades then they wont really be asking any money to the public or users who do tend to join a specific group.

This do simply shows or does signify that they arent really that making money at all even though they would show up some proofs or fxbook or something showing up some stats
but still not a recommendable thing to be done.

How would consider for someone for him to stay up on a wrong trade? You wouldnt able to avoid that unless if you do able to experience it for yourself.

[South Park]

but if I can give any additional advice, it is better to stop trading for a while and use some of our capital to learn technical analysis of trading, this is the right way than forcing ourself to trade.

Or better don't trade at all if you're not emotionally prepared because it's too tough to defeat the mental effect that trading brings to a trader. Specially, if the trader is a newbie.

Emotions and mentality can be controlled by learning proper trading management, which is why every trader is encouraged to trade using his own plan, not following trading signals.
As long as the trader understands this method, he can control greed and minimize losses, but this can be done if the trader realizes that with his shortcomings, without realizing it all will be in vain.

Following trade signals isn't really a good idea.

I have never followed any of those because I know that they're not worth to follow and mostly a waste of them. Although some have said that it's perfect for them and did good.

And that's good if it had worked for some but not really recommended.

This is the Internet, it is very easy for anyone to say whatever they want and not present evidence, signal groups are a waste of time, to begin with many of those groups are not really signal groups but pump and dump groups and if that is the case then you are dealing with scammers, now in the case you find a legitimate signal group you still have no way to tell if the person giving the signals is actually profitable as he only reveals the signals but never reveals the method to get those signals on the first place.

[fullhdpixel]

I saw a ton of exchanging effective posted via web-based media and it makes publicity particularly on Futures exchanging, and that is the reason numerous novices began to do something very similar expecting to get tremendous benefit also, and think about what the vast majority of them lose a great deal of cash in prospects. It happens to me ordinarily, yet luckily, I can escape the market before the misfortunes become greater. Now and again we can be patient, however we can become annoyed the other time, and if that occurs, we need to leave the market as quick as possible before the circumstance turns out to be most exceedingly awful.

You are right the sooner we get out of these trades, the smaller is the loss. Getting rid of such coins which you know are going to get dumped is important and similarly trades where you know you made a mistake, it is important to rectify them by accepting the smaller loss.

Some coin doesn't really need to do proper research before regretting the heavy loss it gives on you. Some coin would need to experience some heavy corrections to start pumping again, I discovered there is a better way to go about such situation, the best way is to increase the amount of the token by trading and building the number of token you have even in the heavy loss on you. While holding in loss, you equally increasing quantity, this can only help when market recover.

Not 100% certain of what you want to say but if I understand correctly, you are suggesting buying a dying coin, even more, to create scarcity for that coin and ultimately pumping the market? Actually this can be done only if you have capital as close to Elon Musk or have an impact on the investors by your words. Otherwise, you cannot lift the market for a degrading coin of your own.

The best and only way is to get rid of those coins for minimal loss. You probably might have a better chance of selling in the future though, but just rate your decisions not results.

[fahmimajannat]

Yes don’t waste yoyr time in a wrong trade. If you made a wrong trade then try to come out from this even if you lose  some assets.
Because you can overcome the losses with the right one. But if you stay with the wrong all the time your funds will gradually decrease.
So be aware of this. Dont hold on wrong projects which doesn’t has a good road map.

[Imran232]

When i want to start tradinv theb first i find where i Should learn then i find a teacher. In my first class he asked me why you want to learn trading?  I answer him to gain some knowledge about trading. He says wrong. I say to earn more profit. He says or loss. He Again says wrong. After that he tell me the answer is do not repeat. That means  not to repeat same strategy on trading no matter its give me profit or not. He taught me lots of tips & tricks. But i forgot most of the things. I still remember that line.  And i think because of this line i am in a safe zone in crypto trading.

[ropyu1978]

Every time I still doubt when entry to buy coin and make me have see much profit gone, I don't know why I still doubt every time see coin have good position to buy and entry, maybe I am waiting on dip moment but still not work because I miss chance with doubt to buy coin assets on lower price, next time I should brave for entry coin to buy and never canceled again.

[bitgolden]

Emotions and mentality can be controlled by learning proper trading management, which is why every trader is encouraged to trade using his own plan, not following trading signals.
As long as the trader understands this method, he can control greed and minimize losses, but this can be done if the trader realizes that with his shortcomings, without realizing it all will be in vain.

Following trade signals isn't really a good idea.

I have never followed any of those because I know that they're not worth to follow and mostly a waste of them. Although some have said that it's perfect for them and did good.

And that's good if it had worked for some but not really recommended.

Also emotions and mentality can't be always learned, some people are different than others, some people act with their emotions a lot, there are people who get angry very easily, some people cry easier than others, some people look always happy, it doesn't matter who you are there are others that may not end up the same way as you, that is why I do not think that it would be that simple to make this work if you are not properly managing your finances.

Emotions are the number one killer of profits, that is why we call it "panic" sell, why? Because people end up selling a lot with fear and they panic and that is the reason emotions still play a big role, especially when people are selling we see those emotions but you also see those people when bitcoin is going up and people who never took an interest on bitcoin end up asking you about it, those are emotions too.

[Sak Karepe]

sometimes we are benefited in situations when we do not know what we will get

[South Park]

Also emotions and mentality can't be always learned, some people are different than others, some people act with their emotions a lot, there are people who get angry very easily, some people cry easier than others, some people look always happy, it doesn't matter who you are there are others that may not end up the same way as you, that is why I do not think that it would be that simple to make this work if you are not properly managing your finances.

Emotions are the number one killer of profits, that is why we call it "panic" sell, why? Because people end up selling a lot with fear and they panic and that is the reason emotions still play a big role, especially when people are selling we see those emotions but you also see those people when bitcoin is going up and people who never took an interest on bitcoin end up asking you about it, those are emotions too.

This is something that I believe as well, there are things that cannot be taught, there are simply some people that are better at something than the rest, those people by nature have the characteristics necessary to be good at a particular activity, trading is very hard but even if you were to give a winning strategy to a bunch of traders and you assured them that they only need to follow it to become rich most of them will fail despite that knowledge.

[longyenthanh]

There is no rule of thumb to win in trading. If you can do effective trading after reading few rules then everyone in this world will be a trader. First of all learn trading, see how market moves, when to buy and when to sell. You have to spend your time and money in trading to learn it.

[palle11]

Yes don’t waste yoyr time in a wrong trade. If you made a wrong trade then try to come out from this even if you lose  some assets.
Because you can overcome the losses with the right one. But if you stay with the wrong all the time your funds will gradually decrease.
So be aware of this. Dont hold on wrong projects which doesn’t has a good road map.

Yes you good with this kind of mentality with trading because green don't come all day and when you notice you made a bad choice of trade, you can cut your loss by exiting.

sometimes we are benefited in situations when we do not know what we will get

Don't always rely on luck in trading. Luck happens rarely when price spike hit you on take profit but if that doesn't happen , your wrong trade may bring you down. Do a good research .

You have to spend your time and money in trading to learn it.

Especially your time. You need time to study and build your strategy and plan. The learning you do for yourself will equip you more. You need to learn from whatever videos and books.

[StartupAnalyst]

As for me it’s very convenient to use OCO sell orders on Binance rather than stop-loss orders by themselves especially for traders who have no much time to monitor continuously the exchange market price. In such way you create two orders together: limit buy/sell order and stop-loss sell/buy order. I like this function very much. This can really prevent trader from losses and bring some profit.

[dimonstration]

As for me it’s very convenient to use OCO sell orders on Binance rather than stop-loss orders by themselves especially for traders who have no much time to monitor continuously the exchange market price. In such way you create two orders together: limit buy/sell order and stop-loss sell/buy order. I like this function very much. This can really prevent trader from losses and bring some profit.

Haven't tried it yet but seems interesting, when I enter in trading I just make sure to watch the market especially if I'm about to enter a higher amount and just set stop loss orders. However when I feel anxious and have time I just throughly watch it while studying other coins. I'm not confident enough to left trading when I know I have amount entered and the market is too aggressive that day. I might try that feature soon to see it's effect on me.

[TheGreatPython]

This is why it is important to know what resistance levels and support levels are, if I put a stop loss I put a stop loss just a small bit under the support line which means that if that support line is broken there is a 99% chance that price of bitcoin will go down until the next support line, for example when it was under 47k it was obvious that it would go to 44k as well, in that case what you should do is put a sell order at about 46.8k levels and when it is reached and you sold because of stop loss, put another buy order at around 44.2k level, if you do this you will profit obviously.

Most of them are not doing it because they feel they might be stopping themselves from a potential gain. That’s the reason why most of them are not stopping their trades when it’s going against them. I even saw a post by someone here saying that stop loss has prevented him from gains and that has happened twice so he wouldn’t be making use of it,.

It’s situations like these that they experience and they stop making use of stop loss, forgetting that there are times that the market will be heavily decreased and the only way they will avoid much of the loss is by making use of stop loss.

[Kelvinid]

As for me it’s very convenient to use OCO sell orders on Binance rather than stop-loss orders by themselves especially for traders who have no much time to monitor continuously the exchange market price. In such way you create two orders together: limit buy/sell order and stop-loss sell/buy order. I like this function very much. This can really prevent trader from losses and bring some profit.

Haven't tried it yet but seems interesting, when I enter in trading I just make sure to watch the market especially if I'm about to enter a higher amount and just set stop loss orders. However when I feel anxious and have time I just throughly watch it while studying other coins. I'm not confident enough to left trading when I know I have amount entered and the market is too aggressive that day. I might try that feature soon to see it's effect on me.

The truth is that the stop-loss strategy isn't really working great for the trader. Because if we would like to analyze, isn't really a need for us to use it when we still have time to trade. Why not continue it for a while or why not wait when we have a lot of free time to doing this. Stop-loss strategy is still a loss on our part, we just save to lose more but if we just think about the ending scenario, we just trick.

That is to say that, it is really hard to make a trade for a limited time span, it only just pressured us to make a buy and sell immediately and didn't give enough time for us to good what we gonna do. And we just have to suffer the consequences after.

[Pom_bensin]

This stop loss is very helpful, I use stoploss at the adjustment point that I have set. so this avoids big losses, even though sometimes this is not accurate, but this helps a little for us to be able to adjust the profit that we get.

[Wawa2013]

If we continue trading when it's in the wrong direction, it will make our losses even bigger. Therefore it is necessary to stop trading as soon as
possible and wait for the price dip to buy coins again to restart trading. But most people are too confident in their abilities and end up losing
all their capital when trading. Therefore, it is necessary to evaluate every time when we finish trading, so we can learn from the mistakes that
we make when trading.

[bitgolden]

This is why it is important to know what resistance levels and support levels are, if I put a stop loss I put a stop loss just a small bit under the support line which means that if that support line is broken there is a 99% chance that price of bitcoin will go down until the next support line, for example when it was under 47k it was obvious that it would go to 44k as well, in that case what you should do is put a sell order at about 46.8k levels and when it is reached and you sold because of stop loss, put another buy order at around 44.2k level, if you do this you will profit obviously.

Most of them are not doing it because they feel they might be stopping themselves from a potential gain. That’s the reason why most of them are not stopping their trades when it’s going against them. I even saw a post by someone here saying that stop loss has prevented him from gains and that has happened twice so he wouldn’t be making use of it,.

It’s situations like these that they experience and they stop making use of stop loss, forgetting that there are times that the market will be heavily decreased and the only way they will avoid much of the loss is by making use of stop loss.

Well the logic (which is of course impossible" would be some people making profit and others make profit of that profit. For example a way to make everyone a profit during a period of bull would be; I buy at 10, sell at 15, that means someone bought at 15, they sell at 20, and when they sell that means someone bought at 20, that person sells at 25 and it continues like this forever, without stop, and keeps going higher and higher and higher, of course not in a week, this could take years, but in the very long term nobody ever loses because with this method I made a profit, and others made a profit and everyone got out with a profit in the end.

However we all know this is impossible, markets go down all the time, and they go up as well, it is a volatile thing that goes up and down constantly, there is really nothing that stops the price from ever going down.

[LUCKMCFLY]

This stop loss is very helpful, I use stoploss at the adjustment point that I have set. so this avoids big losses, even though sometimes this is not accurate, but this helps a little for us to be able to adjust the profit that we get.

That way I also trade on Binance, but with the exception that I must be aware of the price because it is difficult to trade without placing the "Stop Loss" and the "Take Profit" at the same time, I only do it when I am in LONG. This strategy is very good, but the downside is that it requires you to be very attentive to the graph on your PC. The downside I see from a trading point of view is that if there is a quick dip, I take the Stop Loss position and lose the position by buying cheaper and then almost instantly it rises suddenly, sometimes up to 5% -10%, sometimes It has happened to me in some cryptocurrencies.

At that moment is when I think that the bots come into action and it is what I call "High Frequency Trading", where the Stop Loss is invalidated generating the loss.