HOW IMPORTANT IS STOP LOSS

[airdata]

Always i heard about Stop Loss and many traders said that Crypto trading is not secure without stop loss, becouse we are human not a robot, so we can't spend time 24 hrs on trading, and for this reason and for our fund stop loss is always important.       

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[john_nautica]

For me it's very important, I consider it as a life saving device like life vest, fire extinguisher, sprinklers, medical kit. Though there will be some damage it will help it to stop or prevent it from more damage and it can actually save all your money if you are a leverage trader or futures trader so I think this feature is really important and most people doesn't know how to use it.

[South Park]

Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a new newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.

Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.

It's hard to advise someone who is ambitious about something. I also once had the same friend like that. But the most important thing is that our duty as a friend has been fulfilled. But I'm sure he'll figure it out on his own. Learn from his own experience. if he wants to study.

At the end of the day your duty as a friend is to call out any big mistake that your friends are making, if they don't want to change their behavior then that is on them, at least you tried to help them and now it is up to them to face the consequences of their choices, it is obvious that trading and not using a stop loss is a huge mistake, unfortunately the majority of people do not learn this is the case until it is too late and they have lost a lot money, and it is impossible for them to recover that money since now they will have to take huge risks in order to do so creating more losses in the process.

[BitTraderCute]

Stop loss is most important when you don’t want to loss much. But, I don’t use stop loss for some reason. Sometimes I missed big profit for using stop loss. Coins touch my stop loss target then pump again. Stop loss is helpful, When a trader can use it properly.

sometimes stop loss not totally working in our trades, market often to sweep stop loss that setted by traders. And for your case , holding assets when we confidence with the fundamental behind the project for long term was better withot stop loss. spot market and for long term investment didnt need stop loss , or our balance will decrease alot when this SL hit.

[ninabobo]

Stop loss saves me from losing more money, and this one works for me but of course you have your own strategy and Stop loss might not be option for you.

If you don't know what to do when the market dumps, better not to panic and asses your strategies or look for other way that fits your trading style, some don't have a stop loss at all but they remain profitable because they are buying at the bottom price and sell at the peak price.

I think everyone should use stop loss because it could be very important at some point, most times we trade without stop loss and feels it isn't that important because we know how to read charts and also have a large equity, but in crypto anything can happen! Talking from experience, I learnt the usefulness of stop loss when there was a great massive market crash and I wasn't there to close my trade cut my losses, so bad my account got liquidated, had it been i used stop loss my account would have been saved by now

[breathlessz]

Stop loss saves me from losing more money, and this one works for me but of course you have your own strategy and Stop loss might not be option for you.

If you don't know what to do when the market dumps, better not to panic and asses your strategies or look for other way that fits your trading style, some don't have a stop loss at all but they remain profitable because they are buying at the bottom price and sell at the peak price.

I think everyone should use stop loss because it could be very important at some point, most times we trade without stop loss and feels it isn't that important because we know how to read charts and also have a large equity, but in crypto anything can happen! Talking from experience, I learnt the usefulness of stop loss when there was a great massive market crash and I wasn't there to close my trade cut my losses, so bad my account got liquidated, had it been i used stop loss my account would have been saved by now

I remembered when I was trading and had set a stoploss area but when my analysis was wrong then I deleted the stoploss and finally I experienced a panic sell because the price continued to decline until I finally sold it with a bigger loss, until now I still remember that mistake. therefore stoploss placement must be adhered to because every trade there is of course a loss and a win

[checkmatesir]

 As stop-losses anticipate expansive and uncontrollable misfortunes in unstable trades. In the event that you're not utilizing stop-losses, it's as it were a matter of time when a huge losing position will get out of control and wipe out most of your trading benefits, in the long run indeed your whole account.

[topbitcoin]

Imagine you sleep and left open orders on, and when wake up you get liquidated  . I think most simple way to tell people why stop loss is very important feature. I think market already really kind to give us that feature so we're not trapped when something really bad happen with our trading activity. With that we can target or at least how much and in what price we still afford to lose and it not really destroying our assets especially our mental health.

[Tashana]

It's easy to learn to make money, but it's hard to learn to stop losses, just as it's easy to learn to buy, but it's hard to learn to sell. Everything is driven by greed and fear.

[VanityWallets2015]

I have a chat with my fellow trader from my work, they are new to trading maybe a couple of months before they started trading and surpassingly they don't know how to use stop loss since they always complain that they can't sleep watching their trade or whenever they sleep and wake up their trade loss, they think they need to buy a bot and setup to sell when they are losing. And I asked them if they know what's stop loss on the exchange site, they say they didn't and I teach them the importance of the stop loss.

[Sanugarid]

It's important as it can be because stop loss is your way of not losing money in trading. The only thing that I can think of when it comes to an analogy is that stop loss is like a dike, you build it early and when the rainy season and floods come, no destruction will happen to the surrounding areas protected by the dike since you stopped the possibility first.

[coiner-88]

Presumably the majority of them are being stoploss pursued on each exchange position there, however they don't see the value in its handiness. Over the long haul, you will see the value in why stop-misfortune is vital. Albeit one should not say wanted sum for loses, yet we are really the one setting the measure of misfortune we can some way or another acknowledge. The disadvantage of stop-misfortune is having your exchange to be halted when at times it bulls after the fall.

[South Park]

Stop loss saves me from losing more money, and this one works for me but of course you have your own strategy and Stop loss might not be option for you.

If you don't know what to do when the market dumps, better not to panic and asses your strategies or look for other way that fits your trading style, some don't have a stop loss at all but they remain profitable because they are buying at the bottom price and sell at the peak price.

I think everyone should use stop loss because it could be very important at some point, most times we trade without stop loss and feels it isn't that important because we know how to read charts and also have a large equity, but in crypto anything can happen! Talking from experience, I learnt the usefulness of stop loss when there was a great massive market crash and I wasn't there to close my trade cut my losses, so bad my account got liquidated, had it been i used stop loss my account would have been saved by now

I remembered when I was trading and had set a stoploss area but when my analysis was wrong then I deleted the stoploss and finally I experienced a panic sell because the price continued to decline until I finally sold it with a bigger loss, until now I still remember that mistake. therefore stoploss placement must be adhered to because every trade there is of course a loss and a win

This is the thing, a stop loss must always be respected I know that for a lot of people such an absolute rule may seem to not make sense but when it comes to a stop loss this has to be the case because you only need to make a single mistake and delete your stop loss to suffer massive losses from which it is almost impossible to recover, some people can get desperate because the market goes up and down in a range hitting their stop loss over and over again and then turning around on the opposite direction, but that is a trap and if you fall into it you're going to regret it and will never forget that mistake.

[Bollexz1]

Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a new newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.

Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.

There is no way he won't learn. He definitely will learn someday in a big way when he bumps into market volatility. At this level, I don't see why one would engage in trading without setting SL and even TP because things happens like a flash. If possible, I'd even advice to set Trail Stop (TS) on every trade the moment each started yielding profit.

[Text]

I see the value of stop-loss when it comes to trading, this is really what traders usually do especially if they often monitor the movement of market prices and they meticulously analyze and analyze them.  But for me, I'm not the typical trader so it's okay if you can't call me good.  I don't use stop-loss, maybe because it depends on the coin/token being traded that you want to sell.  These are the traders who invest or buy coins/tokens for profit or let's say they minimize the risk of losses.  So I just use setting the target price on the spot and P2P trading ...

[Sihab76]

The only way to reduce market loss is to think and analyze the market very well. If you enter the market unknowingly, you must face losses instead of profits. Analyze coins before you invest and analyze how much a coin can have an impact on its future.  Before investing you need to know about market popularity Need to do analysis.

[gustavroy]

Oh bor stop loss is everything. When i am trading stop lose is hurting me but without it i am dying anyway. If you are not using stop loss you will lose your funds one day for sure. but i have to say that in bull season it can be really hearthbroken.

[boyptc]

Oh bor stop loss is everything. When i am trading stop lose is hurting me but without it i am dying anyway. If you are not using stop loss you will lose your funds one day for sure. but i have to say that in bull season it can be really hearthbroken.

It hurts to see yourself stop loss.

But it's a better thing that you stop your losses before you lose all that you've got. It's a common strategy that every traders know and if you don't know how to do it.

or you're not a fan of it, you better teach yourself or experience how it is to stop loss.

[layoutph]

Stoploss can help you to save your positions from getting liquidated. I got liquidated twice 100usd each.
No one can predict the exact price movement. So if you dont want a stoploss you are gambling your money.

[boyptc]

Stoploss can help you to save your positions from getting liquidated. I got liquidated twice 100usd each.
No one can predict the exact price movement.

Did you just leverage it? well, if you're not familiar with leverage and you put that amount, you really are going to be liquidated with that.

I agree with stop loss, it will help you to avoid getting liquidated and incur losses.

So if you dont want a stoploss you are gambling your money.

That's also applicable in leveraging.