Stop losses

[Buntel168]

Stop loss is necessary to prevent losses while you do trading. But once you HODL, you don’t really need to set up a stop loss because you are watching the coin.

I never use stop loss, because I always pay attention to the trade that is being made, if there is a drastic decline in the market for the coin being traded, you can immediately CL

[1715042112]

1715042112

[1715042112]

1715042112

[carrigan]

Stop loss is the lowest price limit value specified to limit losses. When the price movement touches this value, the system will automatically close the order or position. Because by using this Stop loss, traders are able to limit unwanted losses, if the losses that occur are too deep, then traders can limit the losses that have been determined.
Determining the stop loss is far more important than determining the profit target. However, ideally you can use a method of determining stop loss or loss limits depending on the trading system used. Usually there is a stop loss called the close point and far point.

[King Raymond]

Crypto trading requires a lot of skill and technique to engage in. In almost every trade I make, I set stop loss. Staying in a dip till it go back up is not really a smart move for me. But there's no need to use a stop limit if you made the right purchase and at the right time.

[palle11]

Just curious, do any of you set stop losses and recollect again later? Or do you just HODL regardless of what the dip is.

Forgetting a trade is a major advantage of stoploss because when you enter a trade sometimes you get carried off by sleep or you are busy and instead the market will go far against you and eat your balance so much, it will stop at the point where you set it on, so it is good using stoploss. When you don't recollect stoploss safe you from disaster in the account.

Staying in a dip till it go back up is not really a smart move for me.

And the dip may not recover you up in the market until your account is stretched out and wiped out. This is the reality of not using stoploss . Any trade can go wrong but stoploss protect your account.

[Lordhermes]

With the losses you've had so far,you should have known your weaknesses,where you are failing,what you are doing that is making you experience losses.
Those things that you have noticed are the things you need to work on,you need to try to correct those mistakes you made.
Research more than you do before.There is need for you to research more than you were doing before,because the market is dynamic,it changes with time,so you must adapt to the new changes to make profit.
Learn from your mistakes,and learn from people that are also experienced in the field.

[Dragonfund]

Crypto trading requires a lot of skill and technique to engage in. In almost every trade I make, I set stop loss. Staying in a dip till it go back up is not really a smart move for me. But there's no need to use a stop limit if you made the right purchase and at the right time.

It may be different my friend.
Did you experience the covid-19 market collapse, everyone buying the dip then thought they bought at the bottom but the more they buy, the more the crash comes in surprise, it was after the disastrous sell off many even realize that it was due to panic, some stop-loss weren't even triggered.

In bull run, there is no point doing to techy things to make money in this market buy using stop-loss but taking off profit should be your outmost priority. Don't try to trade Shiba coins though.

[add1ct3dd]

Stop loss is necessary to prevent losses while you do trading. But once you HODL, you don’t really need to set up a stop loss because you are watching the coin.

I never use stop loss, because I always pay attention to the trade that is being made, if there is a drastic decline in the market for the coin being traded, you can immediately CL

I am also not using stoploss orders but I am not into active trading but I am a mid and long term based trader.
Sometimes I go for short term trading but when market is going against my prediction then I will simply convert my short term trading to long time holding this way also I am not going for stop loss order.

Continuously watching market and then cutting losses at required time is not my way of trading because I am into my regular job and only for very short period of times, I am able to trade so I am going for long term trading which never need me to watch market continuously.

[Peanutswar]

Stop loss is necessary to prevent losses while you do trading. But once you HODL, you don’t really need to set up a stop loss because you are watching the coin.

I never use stop loss, because I always pay attention to the trade that is being made, if there is a drastic decline in the market for the coin being traded, you can immediately CL

I am also not using stoploss orders but I am not into active trading but I am a mid and long term based trader.
Sometimes I go for short term trading but when market is going against my prediction then I will simply convert my short term trading to long time holding this way also I am not going for stop loss order.

Continuously watching market and then cutting losses at required time is not my way of trading because I am into my regular job and only for very short period of times, I am able to trade so I am going for long term trading which never need me to watch the market continuously.

Take profit and stop loss is one of the most essential tools we must use because some of us dont want to handle too much time with their trade and just wait for the right time to reach the designated amount we set in TP and SL. Sometimes doesn't have this feature makes the trader merely focus to their trades and it consumes too much time if you didn't make it with the right trade there's a possibility you get hold until the prices reach again.

[pgbit]

The stop-loss is better as there is a lot of manipulation now in the market; therefore, if we put a stop-loss then we can avoid huge losses if we do spot trading, I think to stop loss no need sometimes market dump 10% and after hit, our stop loss again pump, which in this case  we face loss

[Hobo66]

A stop loss is very essential appliance . So many users of crypto are utilizing this appliance to reduce the chances of losing money. Stop loss are of numerous sort which can be utilize by keeping the circumstances in mind. It is beneficial in the case that the user choose a limit below which they cannot afford the loss. So when the price reach to that value it will be automatically sell before going to further loss.