Stop losses

[livingfree]

If I trade in the short term, then stop loss is a mandatory option for me. In long-term trading, I see no point in stop-lss. Stop-loss is a good way to minimize losses, so I would use this option

Only if you're a daily trader.

It's like it's a must when you do daily trades because it will have you stop from more losses that you're having if the market is going down.

Whether you're away from your PC or phone or whatever device you use as you trade. You're worry-free because you've already set your stop loss.

[Issa56]

Seriously from the little experience am having in Cryptocurrency I believe the first thing you should always do after buying a coin is to set stop lost because some times after buying a coin the coin will start dumping I believe stop Lose is very important because it will definitely cut your lost and after the coin is down you can easily buy back the coin again at lower amount. Let me use myself as example I bought sxp coin last year on binance at $3.2 thinking the coin will pump to $5 but suddenly bitcoin started dumping which affected the coin but with the help of stop-loss it sold itself at $3.0 after the coin dump to around $0.8 I bought again and I sold it at $5 few weeks again so you see stop-loss is very important.

[Slow death]

people who do hodl, they do not place stop-loss regardless of the dip the market is facing, there are people who have even had losses of more than 50% of the investment and continue doing hodl, in my opinion in this scenario of doing hodl and being with big losses one should buy every dip to minimize losses and be rewarding in the long run.

In the case of day trade, it is mandatory to use stop-loss, there are times when the market drops a lot, imagine that you buy bitcoin for the price of $34000, do not put Stop-Loss and leave home, and when you return home you find it while the price dropped to $30,000, Is a very big loss

[nelson4lov]

people who do hodl, they do not place stop-loss regardless of the dip the market is facing, there are people who have even had losses of more than 50% of the investment and continue doing hodl, in my opinion in this scenario of doing hodl and being with big losses one should buy every dip to minimize losses and be rewarding in the long run.

In the case of day trade, it is mandatory to use stop-loss, there are times when the market drops a lot, imagine that you buy bitcoin for the price of $34000, do not put Stop-Loss and leave home, and when you return home you find it while the price dropped to $30,000, Is a very big loss

Yes, crypto markets are known for having high volatility that is why we see flash dumps and epic moves especially in high volatility periods. The issue of stop loss has been heavily debated in the past and at the end of the day, it was agreed that it is dependent on the trader in question. I have a friend who doesn't use stop loss even for leveraged trades. Even with losses, he doesn't make changes to use stop loss for future trades. In his defense, he has missed a lot of big moves simply because market stopped him out before moving in the original direction he predicted.

[Hypnosis00]

If I trade in the short term, then stop loss is a mandatory option for me. In long-term trading, I see no point in stop-lss. Stop-loss is a good way to minimize losses, so I would use this option

Only if you're a daily trader.

It's like it's a must when you do daily trades because it will have you stop from more losses that you're having if the market is going down.

Whether you're away from your PC or phone or whatever device you use as you trade. You're worry-free because you've already set your stop loss.

That is really hard when you are not a full-time trader and it is very important to use a stop-loss strategy otherwise, you will lose.
But I'm not preferred to doing it, I suppose not to trade if I have limited time to check the market and limited access to my PC or phone. Eventually, it is hard when you don't have time enough to trade and sometimes it leads to worse ends (losing).

[CryptopreneurBrainboss]

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

Do understand that you're trading and not investing. Traders only care about profits and don't basically have to believe in a project before they can start trading it. This believe are what make you hold a project but traders don't need that to succeed, they just have to get the technicalities right. You can trade shitcoin get your profit and move out without been attached like what most newbies investors are currently experiencing.

That been said, as a trader you must have your stop loss option plugged in at all point to avoid you been in losses or minimizing your loss so you can live to fight another day. Your stop loss though don't have to always been in the negative side of the market, you can use this option to your advantage by constantly adjusting it to take profits as the trades flavours you.

[GreatArkansas]

If I trade in the short term, then stop loss is a mandatory option for me. In long-term trading, I see no point in stop-lss. Stop-loss is a good way to minimize losses, so I would use this option

Only if you're a daily trader.

It's like it's a must when you do daily trades because it will have you stop from more losses that you're having if the market is going down.

Whether you're away from your PC or phone or whatever device you use as you trade. You're worry-free because you've already set your stop loss.

This is also risky though, we all know how volatile cryptocurrency is especially with those mid-low market caps, and if you use them for trading with leverage, the risk will become higher, and not using stop loss will also result in liquidation within seconds, even you are a day trader or scalp trader. That's why I don't practice this, before I enter a trade, I am deciding my stop loss immediately, and set it once the trade is open.

[el kaka22]

You can trade shitcoin get your profit and move out without been attached like what most newbies investors are currently experiencing.

In simple words this can be summarized like this: for trading you just need technical things whereas for holding you must need to go for fundamental analysis. Fundamentals of bitcoin is too good and that is the reason it is highly recommended for long-term holding. Long term holding got nothing to do with stoploss things.

before I enter a trade, I am deciding my stop loss immediately, and set it once the trade is open.

That must be the exact way, every trader should go . Evaluating how much we can afford on the event of negative market and then immediately incorporating stoploss levels once entry got triggered are usual practices of pro traders.

[Kong Hey Pakboy]

Seriously from the little experience am having in Cryptocurrency I believe the first thing you should always do after buying a coin is to set stop lost because some times after buying a coin the coin will start dumping I believe stop Lose is very important because it will definitely cut your lost and after the coin is down you can easily buy back the coin again at lower amount. Let me use myself as example I bought sxp coin last year on binance at $3.2 thinking the coin will pump to $5 but suddenly bitcoin started dumping which affected the coin but with the help of stop-loss it sold itself at $3.0 after the coin dump to around $0.8 I bought again and I sold it at $5 few weeks again so you see stop-loss is very important.

Pretty sound advice for newbies although when it was my first time buying bitcoin, I didn't put mine but I was lucky that the prices back then was on a rally so I did get a decent profit there but I am speaking from experience, it might be different from you so there is an high chance that it will be different experience for you. Consider putting a stop loss.

[RealMalatesta]

Evaluating how much we can afford on the event of negative market and then immediately incorporating stoploss levels once entry got triggered are usual practices of pro traders.

Honestly I'm not going for immediately for putting stoploss orders because after having strong technical analysis alone I am opening my orders. It means very rarely stoploss may get triggered for me so I will be having enough time to put stoploss order. Hence, I do believe that you do not need immediately to put stoploss orders but need to be carefully watching market whether stoploss levels coming down or not. When you are in front of market screen then you can take your own time to put stoploss order until it is needed.

[Maslate]

Stop-loss has some importance in trading, the majority are using this even upon entry (maybe some just use it when it is needed). Traders had used this to save themselves from losing a lot. You should never ignore this thing, you will know once you are in actual trading. Well, trading has a big difference compared to the situation when you are just investing. That HOLD is something special in here especially when the market is bleeding.

All of these things have a huge role in the market, yes, the things you need to consider when you are in crypto.

[newdevices]

discussing stop losses will indeed be difficult to discuss, because many new traders still like to avoid it,
even though how important it is to stop losing in the world of crypto currencies, yes it is very important!,
put a stop loss, and you will be safe from long bearish!

[michellee]

discussing stop losses will indeed be difficult to discuss, because many new traders still like to avoid it,
even though how important it is to stop losing in the world of crypto currencies, yes it is very important!,
put a stop loss, and you will be safe from long bearish!

No, it is not that difficult because that will depend on how the trader will react based on the market situation. Many new traders will not apply stop-loss because they hope the price will be back to the high price soon so they are waiting for that time. But if they can use the stop-loss feature, that will help them to prevent the losses that cause by the drop in the price. In this long bearish time, we need to have more patient and stop-loss will be useful.

[Mistafreeze]

If you don't use stoploss in trading, I'm sorry you might cry later! The market has different ways of hunting stoploses putting confusion in traders mindset if they have not good experience or knowledge on how the market works. I have lose a lots of funds due to my ignorance of not using stoplosses because I was somehow positive about the outcome of my trades, which later end in tears.

Stoplosses is very important to be implemented as a trader except you choose to scalp the market which is sometimes not advisable especially in a volatile market that spike anyhow. Stop lose could safe you of your hard earn money to be gone within stretch time. It helps to avoid unnecessary risks that could affect the total capital used in trading.

Always try and use stoplosses... it's part of risk management!

[Kelvinid]

discussing stop losses will indeed be difficult to discuss, because many new traders still like to avoid it,
even though how important it is to stop losing in the world of crypto currencies, yes it is very important!,
put a stop loss, and you will be safe from long bearish!

I ain't to force traders not to use stop-loss strategy nor to discuss someone who is not interested to learn. I know that some traders just ignore the importance of trading, apparently, they are wrong. They never appreciate that much because they once at failure, too sad to end that short but I believe they will turn back using this strategy once again.

Nevertheless, we can't assure that everything will be fine when we use this one. We are still prone to losing but at least we save some bucks rather than losing our entire capital.

[Peanutswar]

When making a trade this is also what we need always make a stop loss this is one of the common mistakes they get the urge to get more to comeback their money this is a mental battle if you want to cut your loss and try again for your trade or just simply holding your position even losing more money. In making a trade I highly recommended having a decision with your trade such as Cross or an Isolated trade so you can limit your risk. Stop-loss makes your money safe. When making a trade always be conscious of having a risk to your funds.

[wahyu wida]

When making a trade this is also what we need always make a stop loss this is one of the common mistakes they get the urge to get more to comeback their money this is a mental battle if you want to cut your loss and try again for your trade or just simply holding your position even losing more money. In making a trade I highly recommended having a decision with your trade such as Cross or an Isolated trade so you can limit your risk. Stop-loss makes your money safe. When making a trade always be conscious of having a risk to your funds.

stoploss as if mandatory for traders to anticipate if the analysis is wrong. especially if we cannot always see the market, it is very necessary to secure our capital. sometimes many people do not wear it, and if there is a rally going down they can lose more. but if we can always be in front of the market then cutloss can also be used to minimize losses

[SquallLeonhart]

When making a trade this is also what we need always make a stop loss this is one of the common mistakes they get the urge to get more to comeback their money this is a mental battle if you want to cut your loss and try again for your trade or just simply holding your position even losing more money.

Engaging stoploss might be easier and not an emotional thing when your position stays positive but at the same time if your position is near to hit stoploss levels, then it will become a mental battle because you may not be ready to accept the losses. Going for stoploss will be easier when we gain experience; it means trading with stoploss will show our level of maturity in trading.

if we can always be in front of the market then cutloss can also be used to minimize losses

But this cannot be a recommended practice because continuously watching may not be possible and also market may jump to get more losses hence putting stoploss well in advance must be a good and safer practice.

[dimonstration]

stoploss as if mandatory for traders to anticipate if the analysis is wrong. especially if we cannot always see the market, it is very necessary to secure our capital. sometimes many people do not wear it, and if there is a rally going down they can lose more. but if we can always be in front of the market then cutloss can also be used to minimize losses

Its not mandatory as we are not all required to do it if we have a certain goal for future profit and we know what altcoins or coins we are invested with.It is needed by those who are not certain yet of what they plan as well who depend on trading for living. I do put stop loss whenever for some altcoins especially the new ones that I just invested with but when it comes in BTC I just let it and hold as much as I can.

[Tahsin Kabir Kollol]

It totally depends on the type and duration of your trading. It also focuses on market analysis and decision making accordingly. Long-term investment decisions usually do not use stop losses if the market analysis is considered appropriate. Again, in the case of short-term investments, if the market analysis is positive, then it is not appropriate to use it in the hope of making more profit. However, stop loss is a very important method in the side-way market. Because in this case, the stop loss method will help you to avoid the possibility of big losses. However, it is not mandatory to use it in all cases or it may not be considered as the right decision.