Do we need to have a stop loss if we are 100% positive about a trade?

[SamReomo]

I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

I have won many trades and I've also lost many trades but I have never used a stop-loss for a single time and that has helped me as a trader to improve the areas that needed that improvement. I'm not really against stop-losses but I believe they can cause fear in the mind of a trader and the trader might not take risks if he/she fears about the losses that take place if the trades go wrong.

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

[Oshosondy]

I do not use stop loss again since 3 years ago when I saw its disadvantages. You will know what that I am talking about.

I trade with low leverage.

I average. People that average will likely not be using stop loss.

Those traders that uses stop loss are those that uses high leverage, or trading a very volatile altcoins and not averaging.

[SamReomo]

I do not use stop loss again since 3 years ago when I saw its disadvantages. You will know what that I am talking about.

I trade with low leverage.

I average. People that average will likely not be using stop loss.

Those traders that uses stop loss are those that uses high leverage, or trading a very volatile altcoins and not averaging.

I on the other hand do trade with high leverage but only on the coins like Bitcoin as they aren't going to move a lot as compare to the other shit-coins that are basically pumped and dumped. I don't really trade the shit-coins anymore as they are risky and I have faced huge losses when I traded those coins in past. Now, my main focus is on Bitcoin and a few other altcoins that aren't highly volatile as those useless shit-coins which exist for pumping and dumping.

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

[Assface16678]

Well, it will depend on the trader. For me, I don't use stop loss on every trade that I make. Because I have a separate account for my live trade, meaning I will put some amount or capital in my trading account, the account came from my storage trading account, as I called it. In short, I have two different accounts used for trading: one is for storing my capital to be used in trading, and the other is the one I used to execute the trade. The set-up is that I will put some amount in my trading account, say $100 worth of bitcoin or BTC/USDT pairs, and from that, only the $100 worth of my money will be going into the trade, so even if I don't stop the loss, if the equity reaches zero, only the $100 worth of my asset will be lost. That's how I manage my trade. I also don't use stop-loss often because, of course, there is a downtrade, so I want to see if my trade will be really wrong or not. In summary, it depends on the trader as to how he will trade, whether he will use stop loss, take profit, etc. If your strategy works for you, then it's good, as we trade on our own accord.

[Bitcoin_Arena]

Stop loss has nothing to do with instilling fear. It all depends on one's trading strategy and how they try to manage risk. What may work for you won't work for everyone. I use stop loss most of the time when scalping with high leverage. Without stop loss, one bad trade and all the profits you had made from several trades are wiped off.

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

The day the market plummets by over 50% including Bitcoin like it did in March 2020 is the day you will know why some people use SL 
It's not about being brave or a coward. It's a just a risk management tool.

If someone didn't use SL for spot, I think they are a little safe, so long as they have the patient to wait for the price to get back up.

[mirakal]

I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

I have won many trades and I've also lost many trades but I have never used a stop-loss for a single time and that has helped me as a trader to improve the areas that needed that improvement. I'm not really against stop-losses but I believe they can cause fear in the mind of a trader and the trader might not take risks if he/she fears about the losses that take place if the trades go wrong.

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

I have understood that setting a stop-loss will only limit a trader's loss and that is good enough for those traders who are actually not confident to trade. But if you are a good trader and does not use  leverage in trading, then setting a stop-loss does not make sense. It only limits your potentials and capabilities to trade, that is not good at all in the long run since trading is all about enhancing your skills and working strategies.

This is the reason why I don't trade and use stop-loss. Although that may be good for novice traders to avoid losing a lot in trading, but let's just accept the reality that as traders, we need to combat those losses in order to end with successful trades and that will only happen if we pursue trading despite the fact that we can lose a lot from it.

[shinratensei_]

honestly it depends there's no harm in keeping from losing even more so when you are so sure, you can just set stop loss and then relax and not thinking about your trades every minute.
simply put its good to have some safety because who knows whats gonna be turning out in the future, you could be in the worst position at the worst time basically around the time like 5 minutes before announcements of ETF disapproval for example, the market would change drastically and the trades that you initially confident in, would make you not really confident.
even more so with higher leverage as many said because the market could definitely go wrong within minutes, there have been many histories in the market where the price plummets within a blink of an eye.

[BlackBoss_]

I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

You never know what will happen with the market and stop loss, stop limit orders will help you to prevent big loss when black swan occurs. Those order types can save your portfolio even when you are sleeping.

A professional trader actually uses stop loss and stop limit order more than amateur traders. Because they experience a lot, more than amateur traders to know that if they don't use those order types, their portfolios will have big risk to lose big in value with black swans.

Even you are very confident with your open position, using stop loss or stop limit order is good. It is not harmful but actually is very helpful for you.

[joniboini]

Now, my main focus is on Bitcoin and a few other altcoins that aren't highly volatile as those useless shit-coins which exist for pumping and dumping.

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

But if you use high leverage, that doesn't really affect the volatility of the coin you trade right? Wouldn't that expose you to more volatility instead? I don't see why you would avoid SL altogether even if you're confident with the coin that you trade, since that confidence can't give you future insight to begin with. It is a also bit unwise to think that by conquering fear you mean not using any risk management tool available for you. I mean, you. can get fucked by many things other than wrong technical analysis.

[Gladitorcomeback]

I would like to know that what you guys think about stop-losses, and how often you guys use stop-losses to avoid getting huge losses in your trades?

Stop loss is generally used to save fund from big loss when any bad incident happen in crypto. I was also against Stop loss and never used before 2021. If you remember BTC crash due to china fud , I was holding many coins that time and suddenly BTC dump from 43k to straight 30k and you can imagine what would be happened with altcoins. My portfolio had fallen very low that time and then I felt the need of stop loss.

Stoploss is one feature and it's positive or negative impact depends upon the trader strategy. If we 100% sure about about any token and also if token dump then we could hold it (we have extra fund to trade other comfortably) then no need to use stop loss. Traders usually trading in volatile coins and this why stop loss is necessary.

[mk4]

I think if you're 100% positive about a trade, you might be a bit too bullish and hence delusional. I think the most positive I was for a certain trade was like 80% and I thought I was being too unrealistic.

Yes, stop-losses are definitely not 100% necessary depending on the circumstances (especially when just going long-term long with lower leverage), but yea just my 2 sats.

[lombok]

The use of stop loss depends on the decision of each trader. Personally I would use stop loss on futures trades only. There are several conditions where I don't use a stoploss when trading futures, when I only have 3 positions, and in long form, not short. Usually long positions have liq. wider price compared to short positions.

In the bullish market I went long without Stoploss 😅 Plus, if my analysis and confidence were 100 percent then I wouldn't place a take profit, I would just take profit manually.

[ItsCrafty]

When I am doing a trade I never trust on market condition because any time it can dump because of so many fuds.its better to make sure a good stopl loss even if we are 100% positive about a trade.in this condition of trade your thinking money will be safe and you will have not fear of market condition.i am doing like that may be others are also thinking like that

[Patrol69]

Using stop loss in trading may be a wrong decision, when I used to do futures trading I had little confidence in myself due to which I used stop loss after taking a trade. One thing I noticed about using stop loss is that if I put a stop loss at 10 dollars from the target price, maybe after the 10 dollar loss, my coins will be out of trade. The problem here is that after falling a bit below $10 the market goes back up and then we have nothing to do. Because our coin was already trading at a loss of $10, if we had been patient with some risk at that point without using a stop loss, the market would have gone up again and we could have reversed the loss. It's mainly because of this that I don't use stop loss now and it's probably a good decision for me.

[lucifur]

I've been checking out this whole trading thing recently. I've decided to throw in a bit of cash in it just to see if I can get a hang of it. This stop loss feature does sounds pretty cool at first but from what I can tell, it seems like this stop loss thing is more for the people who've been trading for a while. Those folks who have spent time figuring out how the market moves and how to play their cards right. They know when to jump into a trade or bail out, so they'd know when it makes sense to use stop loss.

If you're new to trading I don't think that the stop loss is a good option. To use it effectively, you need to have a solid understanding of how the market works. If you're still getting the hang of things, using stop loss might end up doing more harm than good. There's a real risk that misusing it could lead to losing more money, instead of gaining.

[knowngunman]

I on the other hand do trade with high leverage but only on the coins like Bitcoin as they aren't going to move a lot as compare to the other shit-coins that are basically pumped and dumped. I don't really trade the shit-coins anymore as they are risky and I have faced huge losses when I traded those coins in past. Now, my main focus is on Bitcoin and a few other altcoins that aren't highly volatile as those useless shit-coins which exist for pumping and dumping.

Sometimes I use more than 20x leverage on Bitcoin but mostly I prefer to go with as high as 10x leverage. The 10x leverage on Bitcoin is far safer than 5x on any shit-coin that can move crazily. I know that the profits with Bitcoin trading pair aren't much as compare to others but the risk is minimum with Bitcoin trading.

You should have included this in your first post so it won't sound strange to anyone. Now, I see the reason why you are not too comfortable with using stop loss. Stop loss is just to help you manage your risk and nothing more. I personally will make use of it to minimize my risk because I can not just watch by while my balance liquidate if things goes wrong. It has less effect if you mainly trade bitcoin because you can not compare bitcoin trading to other coins in terms of volatility. The shitcoins have caused you huge losses but I can confidently say they also made you some profits before you decide not trade on them again. In fact, shitcoins are the best to trade with if you aim to make quick profit and also ready for the otherwise of it. Bitcoin offer less risk with lesser profit, each has its price and you can either take less risk to earn less or take higher risk to earn high.

[Yamane_Keto]

Part of controlling fear is knowing when to sell and when to accept a loss. This does not mean that you are weak or inexperienced, but on the contrary, you control your emotions more than a person who does not use a stop loss. The stop loss order is also good when you want to make a trade without having good knowledge of market trends or the trading volume is not large, so place the stop loss next to the support or loss points to reduce losses if the trend reverses.

[tjtonmoy]

If it's for a beginner, then yes, I will obviously recommend Stop Loss. The fear of losing money in trade does not go away if you don't use Stop Loss. In my opinion, it's quite the opposite. Let me explain. The more you practice something, the better you get at it. Playing guitar for example. You put all your finger on the strings after you see it. Even after seeing the strings, you may miss 1 or 2. But as you practice more, you create a muscle memory. This helps you to play the guitar without even looking at the guitar itself. You can even play it in your head without the guitar itself.

We can say the same this with trading and SL. As a beginner, if you keep practising this, when you become good at it, you won't need to put SL anymore. Because you can just create a calculation in your head and open trade based on that. Also, using SL helps a lot in emotion control. As we all know, emotion control is a major thing when it comes to trading.

[Kelvinid]

I have been into trading for many years but I have never used stop-loss myself because I believe that stop-losses won't help a trader to improve his/her trading abilities. The stop-losses are something that will protect a trader from losing a lot of money in a trade but if a trader doesn't conquer the fear then that's the worst thing I guess.

Some will find it useful while some are not, just like you. But it isn't doesn't matter especially if there is no issue/problem with/without using this strategy because what is important is that we make money and earn a profit in trading in many ways. In fact, not often use this one and I'd never find it necessary if we are active traders. Besides, this strategy never helps us to earn a profit but just helps us not to lose too much and still save some. If we can play the market well and have long trading experience, I believe it is not needed anymore. This just good for newbies, IMO.

[mindrust]

Definitely not. If you are sure of the asset you are buying, why sell? You just need to buy more when it goes down. The more it falls, the more you buy. Actually in this case it is even better if the asset’s price is dropping because you can buy more for a cheaper price.

Let’s say you are in the real estate business and you have $10 million but no homes. Each house costs a million usd and you can buy 10 houses. After you bought your second home the prices took a nosedive and now each house costs $800k. That means you can buy 10 more houses with the remaining funds if yours ($8 mil).