barbara44
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October 08, 2021, 08:21:34 PM |
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I don’t have any problem with making use of stop-loss when it comes to trading, I think it is quite useful when you are making use of it because you are able to limit your losses to an extent. Now it is all up to you to decide how much that your loss will reach before the stop-loss tool will cut it from going further.
For those people that are complaining that it keeps putting them out from trade and making them miss opportunity, I think they have to understand that stop loss was created to help you stop your loss and not to help you make enemies, now it is all up to you to be around at least and make sure that you are checking what is happening on your trade, and when things are not going the right way you can correct them immediately.
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tvplus006
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Exchange 250+ Coins With 0% Fees
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October 08, 2021, 10:25:47 PM |
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...If you put a stop loss 10% down from the price you bought it, then you are limiting your loss not more than 10%. Still, i don't understand why most of traders forget to set a stop loss where in fact, it's one way of avoiding more losses and just maximize your expected profits...
A common practice is to set a stop loss for margin trading and this is due to the fact that you can easily lose your deposit. But even in cases when the market is very volatile, no stop loss is set, as your order will be closed quickly. But if you don't set a stop loss, then you can't move away from the terminal and sleep peacefully.
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LUCKMCFLY
Legendary
Online
Activity: 2520
Merit: 1873
Leading Crypto Sports Betting & Casino Platform
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October 09, 2021, 01:03:38 AM |
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...One benefit is your just loss a little part and you can carry on with your trade, after all trading is about profit and loss. This is a good mentality to succeed...
You cannot use stop loss if you do not have the skills to trade and do not have a trading strategy. A small loss at a stop loss will be only if you open an order in a long position from support or a short position from resistance. Thus, it is necessary to compare the risks and profits from the expected transaction. You're right, when I was starting in the world of trading it always happened to me that when I reached the stop loss, I didn't take it and what I did was keep losing and losing, I had to go out to the Market, and the loss was worse, then I realized I had to understand well how it worked, how it was put on and under what conditions, of course this happened to me because I was doing things fast and not having traded with play money. Now when I trade, the first thing I do is set my Stop Loss, whatever it is is my first step for everything.
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shield132
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October 10, 2021, 09:02:48 AM |
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I've started using alerts instead of a stop loss because people keep mentioning about market manipulation on exchanges and I've been trying to protect myself against that more recently. I'm also one for setting a stop loss that isn't too far away from where the price will rebound up and fulfill my take profit so that's another reason against setting one - though I should probably just set it where I think it's really unlikely to get triggered.
+1 It's what I am doing too, I am using multiple alerts on certain rises and falls because the market is sometimes so manipulative that it falls and immediately rebounds. If you are a long-term trader and don't open short contracts on futures trading + trade with more matured coins, then I think alerts will meet your case. But when you trade frequently, I think it's better to set stop-loss and use it anyway, it's better than to regret. Sometimes the loss will rebound immediately and sometimes it may take weeks. But if you use leverage trading, stop-loss is mandatory in absolutely any case since it's a very, very risky the higher the leverage gets.
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tvplus006
Legendary
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Activity: 2408
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Exchange 250+ Coins With 0% Fees
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October 11, 2021, 09:16:00 AM |
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...But if you use leverage trading, stop-loss is mandatory in absolutely any case since it's a very, very risky the higher the leverage gets.
Yes, it is impossible to trade with leverage without stop loss, otherwise you may lose your deposit due to circumstances independent of you. For example, if you opened an order and did not set a stop loss and an accident occurred at the same moment, which resulted in your equipment becoming inoperable during a dump or pump on the market.
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tbct_mt2
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October 11, 2021, 11:56:50 AM |
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Yes, it is impossible to trade with leverage without stop loss, otherwise you may lose your deposit due to circumstances independent of you. For example, if you opened an order and did not set a stop loss and an accident occurred at the same moment, which resulted in your equipment becoming inoperable during a dump or pump on the market.
It is possible, why not? But if you don't use stop loss orders, you are not smart. Without stop loss, your position can be very negative and liquidation will be triggered. Your collateral will be liquidated and switched to the wallet of exchange. It won't disappear but only change the ownership, from you to that exchange. If a trader does not understand psychology of market and capital flow in the market, it is best to not use leverage.
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zaesvlas
Jr. Member
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Merit: 2
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October 11, 2021, 01:10:41 PM |
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As for me, this tool allows a trader to be more confident in the result of work, even in the event of any mistake in the process of work.
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wxa7115
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October 12, 2021, 08:14:24 PM |
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I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly). And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading
It is great that you do not find this challenging but believe me many people do not like to use a stop loss, they feel their potential profits could go down by the use of a stop loss and in a way they are not wrong. However trading is not only about maximizing your profits, trading is also an exercise on resource management, and since our capital is limited if we trade as if it is infinite sooner or later it will run out, a stop loss is there to protect you from this ever happening and as such it is an invaluable tool in the arsenal of any trader.
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Lanatsa
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October 12, 2021, 09:49:15 PM |
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I never think that stop loss be a challenge, I just set it because I need it to manage the loss and also risks that I am probably getting while trading in the future (mostly). And about trading in spot, I only a few times also using SL, moreover if it is a good or top coins, I will prefer to wait for increasing price. But once more, it doesn't mean that never using SL for a spot. Sometimes, it is also good to use SL because I want to manage the funds in order to ensure to lose small and then get another chance in another trading
It is great that you do not find this challenging but believe me many people do not like to use a stop loss, they feel their potential profits could go down by the use of a stop loss and in a way they are not wrong. However trading is not only about maximizing your profits, trading is also an exercise on resource management, and since our capital is limited if we trade as if it is infinite sooner or later it will run out, a stop loss is there to protect you from this ever happening and as such it is an invaluable tool in the arsenal of any trader. Even myself doesn't really make use of stop loss because it isn't really much needed if you aren't really making out active trades or simply stick with long term or swing trades. But doesn't mean that it would be just good for short term or active trades but this stoploss is really situational so it would really vary if someone would really be needing on using this tool so its up to someones intellect and experience on how they could handle themselves well on this market.
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markdario112616
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October 13, 2021, 04:04:53 PM |
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This is one of the best tools out there, and one of the easiest thing to learn but the hardest to implement. Well to be honest, I'd find it very challenging at first. I've struggled a lot in terms of trying to use the stoploss. But the fact I'm eager to regain my losses it turned out to be a disaster. After that I'd humbly surrender to it, I practiced stop loss for months fighting of frustrations and everything. But yeah bottom line is that no matter how good you are, we may still encounter even one mistake and all will crash. So yeah learn not to trade with emotions that will surely be not a good idea.
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arbifahrozy
Full Member
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Activity: 896
Merit: 100
$CYBERCASH METAVERSE
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October 13, 2021, 04:49:41 PM |
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Simply you can understand from the name of stop loss, that it means you can stop your more loss by applying it , in other words I can just say that this will be more profitable for the traders, who are mostly involve in the day trading and doing their trading mostly in less time and want to get more and more profit at that time they can use stop loss, which can help.
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wxa7115
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October 19, 2021, 08:04:36 PM |
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This is one of the best tools out there, and one of the easiest thing to learn but the hardest to implement. Well to be honest, I'd find it very challenging at first. I've struggled a lot in terms of trying to use the stoploss. But the fact I'm eager to regain my losses it turned out to be a disaster. After that I'd humbly surrender to it, I practiced stop loss for months fighting of frustrations and everything. But yeah bottom line is that no matter how good you are, we may still encounter even one mistake and all will crash. So yeah learn not to trade with emotions that will surely be not a good idea.
This is exactly why we use a stop loss, no trader is perfect and it does not matter how good you are eventually you will make a mistake, now you may be lucky and the market does not go strongly against your prediction and you lose only a small amount of money. However what if your prediction was completely wrong and a huge movement begins to take place against your prediction? That single mistake can be more than enough to lose weeks, months or even years of efforts, and a stop loss is there to act as your safety net so this does not happen to you.
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