Do you set stop loss for long term gem?

[Koro-Sensei]

A long term gem needs time to succeed. A loss will never affect your holdings if you don't check its price every 15 minutes. You bought those coin for long term and be back in 2-3 years time and you'll probably see a profit.

[justdimin]

Are you considering having a stop loss for every altcoin you bought for long term?

"Long term" and "stop-loss" are contradicting thing to each other. Stop-loss is only needed when you're into short-term trading. Because, for short-term trading you will never need to go for in-depth fundamental analysis but only technical will be enough to buy and sell within a day or week. When you are having good fundamental based coin then you will never need to worry about exiting at stop-loss. Because, you can be confident about bouncing back of prices at any time soon.

I am holding few of altcoins for years and they have dropped more than 80% from my buying prices still I am holding them without any stop-loss because I am confident about their fundamentals to get me profits along with this current bull run or in coming years. I'm not having any problem to continue my holding.

[kevinzxz]

I want to ask for some long term hodler or altcoin gem hunter there.

Are you considering having a stop loss for every altcoin you bought for long term?

Like for example. You buy this coin x at $3 but the price dumped, and just like trading, do you still put stop loss or cut loss?
Like you will sell the coin once the price reach $1?

of course I will never set a stop loss, because I believe every altcoin that I invest for the long term, then the price will definitely increase very high and give me a big profit, so even though the price will go down, but I will never sell my altcoin and of course I still hold my altcoin until the price increase very high (give me a big profit), although it takes a long time for the price can increase very high.

[MrcMrc]

Stop lose is mostly effective in future trading since you may not monitor the market at all times, but again as a passive trader, this method may not be effective because you analyze the market personally in spot trading.

[ipanks]

I want to ask for some long term hodler or altcoin gem hunter there.

Are you considering having a stop loss for every altcoin you bought for long term?

Like for example. You buy this coin x at $3 but the price dumped, and just like trading, do you still put stop loss or cut loss?
Like you will sell the coin once the price reach $1?

If you believe the coin will increase in the future, you do not need to cut losses or sell the coin, even if the price is down too deep because there will be a time for that coin to increase again. You can see what we got in a few years ago while our coins are down too deep. Many of us cut loss our coins and leave them without want to buy the coin again. But this year, that coin increase and hit the highest price and those people regret it because they sold the coin before.

A long term holder will not sell their coins, especially if they know the coin can increase so high in the future because they believe the coin price will be back to the highest price.

[dezoel]

I usually do not in the long term. In the short term I do not really have a chance to set a stop loss because most places are just swaps and they do not have a stop loss type of deal which means I can't do anything about it, and that is why I do not really have that option. In the long run however if it is a true gem and it increases a lot and some of them really do, that means 2x is not that hard, so when it does 2x I just take out my initial investment, and then let the rest compound forever.

I only get out if it reaches to a level where even I can't really argue against. Which is why there is no stop loss for "gem" strategy for me. Albeit I do not invest into too many gems, only a few, and most of my money is in btc-eth-bnb on binance so they all have a stop loss, so it is like 90% of my money is in stop loss, I just don't do it for the gem ones.