Don't you think it's right to set a Stop Lose?

[Nightwalker(NW)]

From the recent dump in the market lot of people weren't prepared or even foresee the future that last night we could experience an unexpected dip in the crypto space, I asked where are those that keep speculating about Bitcoin price or cryptocurrency that calls themselves guru or cryptocurrency analyst do they know that yesterday could be that hurt on traders or investors?
It's certainly No because we can't for any day give an insight on what is about happening to the market in the next minute or in the next time frame so we must learn to always make use of our Stop Lose and Take Profits if an only the market has moved to our point of action then it would stop automatically than losing so deeply the way it reacted last night.

What do you think, where you caught up in the mindless of it?

[odolvlobo]

The ideal is to buy low, sell high. Stop loss is automatic buy high, sell low.

[Nheer]

Stop-loss can be beneficial for volatile assets like shit coins that might continue to decline but i don't think it's necessary for Bitcoin regardless of market downturns, as it will do more harm than good. Instead of selling, we should view market dips as opportunities to buy at lower prices.

[Karl_3000]

If you are buying altcoins, know that you are only going for coins that are very risky. If that is what you want, use the amount of money that you can afford to lose on altcoins. From what I have seen, most altcoins are useless.

If you are trading with a very high leverage, trade with the amount of money that you also afford to lose. How will someone that is using 10x will not be liquidated, they will be liquidated in a high volatile market. If you are trading like position traders, you can set stop loss if you use high leverage, but if you escaped what happened yesterday but you are using high leverage, know that the chance that you will still lose than gain is more than 95%.

Bitcoin fall from $121,000 to $101,000 but it increased to $113000. That is a little fall for bitcoin, it was altcoins that fell massively yesterday.

[Itz-prisigold]

OP I honestly don't agree with you on this. Bitcoin is not some random altcoin that you trade in and out of with stop losses. Bitcoin was never meant to be treated like a short-term trading token. It's a long -term asset built to test patience. People who usually rely on stop loss always end up missing bigger pictures. The market can crash for few hours, Tigger your stop loss and immediately bounce back and if you get stopped out too early, you might watch the price recover and rise without you.
If you truly understand Bitcoin, you'll know that volatility is part of it's design. It actually shakes out the weak hands n rewards those who truly believe in the fundamentals.

The truth is, stop loss might save traders, but for real Bitcoin holders, conviction and time in the market are the real strategies. So yeah, use stop loss if you're trading altcoin or doing short -term plays, that's perfectly fine. If you actually look back at bitcoins history, every major dip was followed by a stronger rise. Those who keeps getting stopped out never experience the real reward that comes from patience and understanding the assets long-term purpose.

[Finebone]

The ideal is to buy low, sell high. Stop loss is automatic buy high, sell low.

If you are trading the spot market, which is like buying and selling, you don't have to set anything like stop loss because you don't loss your asset if you don't sell, where stop loss is needed is if you are trading the derivative or futures market, that's where you place stop loss after taking a trade.

And take note that not setting a stop loss as a trader looks unprofessional and lack of competence because no matter how confident you are in a trading set up, it's wise to prepare for any eventuality in case the market goes against you, which is a proper risk management skill.

[mustapha67]

Well, I don't really know anything about "stop lose" as a newbie, but whatever it is, I think it should wait until I am sure of my position in Bitcoin. One does not eat with the two hands in the mouth, otherwise, he or she would begin to voting virtually everything that was swallowed.

Bitcoin is here, and I should stick to it quickly enough to ensure adequate investment. I don't think it is wise to begin to jump from one tree to another, hence it might cause lossing both ways. Therefore, "stop lose" or whatever can wait until I am sure of Bitcoin. No retreat, no surrender.

Besides, "stop lose" is not part of my personal awareness about Bitcoin. I am just seeing it for the first time, so, I should not begin to bit around the bush.

[Charles-Tim]

Don't you think it's right to set a Stop Lose?

This from the topic title.

It's certainly No because we can't for any day give an insight on what is about happening to the market in the next minute or in the next time frame so we must learn to always make use of our Stop Lose and Take Profits if an only the market has moved to our point of action then it would stop automatically than losing so deeply the way it reacted last night.

See the words that I bolded.

Correct them to Stop Loss (SL) fir newbies not to make mistake.

Example:

Well, I don't really know anything about "stop lose" as a newbie, but whatever it is, I think it should wait until I am sure of my position in Bitcoin. One does not eat with the two hands in the mouth, otherwise, he or she would begin to voting virtually everything that was swallowed.

Bitcoin is here, and I should stick to it quickly enough to ensure adequate investment. I don't think it is wise to begin to jump from one tree to another, hence it might cause lossing both ways. Therefore, "stop lose" or whatever can wait until I am sure of Bitcoin. No retreat, no surrender.

Besides, "stop lose" is not part of my personal awareness about Bitcoin. I am just seeing it for the first time, so, I should not begin to bit around the bush.

It is called Stop loss (SP).

Stop loss or no stop loss, traders are losing because they think they can make money within a short period of time like under some seconds or minutes or hours. The big whales are making money from them.

[Cyber_warrior]

From the recent dump in the market lot of people weren't prepared or even foresee the future that last night we could experience an unexpected dip in the crypto space, I asked where are those that keep speculating about Bitcoin price or cryptocurrency that calls themselves guru or cryptocurrency analyst do they know that yesterday could be that hurt on traders or investors?

I never expected the dip which happened few days ago, I was thinking bitcoin price has stabilized, and what I was expecting was another upward movement from bitcoin, but I was just surprised with the sudden crash that happened, I was shocked because I never expected it.

I don’t really think the crash would affect investors, if bitcoin price dumps, as long as you can hold, then the price is going to bounce back even if it’s going to take time,  but if you are holding all this shitcoins, then you should panic. Traders are definitely going to face huge loss in the dump, and future traders are really going to lose huge among of money, because lots of them will be liquidated, because we never expected that dump, and some people don’t make use of stop loss.

[Dr.Bitcoin_Strange]

My mentor told me that once you take a position in the market, it's two things that is likely to happen, either the market will go in your direction and run straight to your point of interest where you want to take profit or the market will go against your direction and put you in a great lose or even liquidate your account, so he advised that setting a stop loss is advisable. I don't take a trade with using stop lose because I have had my own share of loss too some months ago which liquidated my account.

[Y3shot]

The fall of price in the market shouldn't be a problem for investors because, as an investor, you have to keep in mind that anything can happen at any time. If the market falls, it shouldn't be a problem because Bitcoin is a long-term investment, and when investing in Bitcoin, all you need to focus on is the future. When the price falls, it is expected for investors to buy more because it is an opportunity to buy low, which will definitely yield good profit if you hold it.

The fall of price in the market can be a serious challenge for traders because it wasn't really expected, but for investors, a fall in price is part of investing. If the price doesn't fall low, you won't be able to buy Bitcoin at a lower price. It will only be a problem for investors who have no plans to go for the long term.

[Pjcr7]

From the recent dump in the market lot of people weren't prepared or even foresee the future that last night we could experience an unexpected dip in the crypto space, I asked where are those that keep speculating about Bitcoin price or cryptocurrency that calls themselves guru or cryptocurrency analyst do they know that yesterday could be that hurt on traders or investors?
It's certainly No because we can't for any day give an insight on what is about happening to the market in the next minute or in the next time frame so we must learn to always make use of our Stop Lose and Take Profits if an only the market has moved to our point of action then it would stop automatically than losing so deeply the way it reacted last night.

What do you think, where you caught up in the mindless of it?

I believe people were still in the awe of the ATH recorded by BTC and as such most investors and traders were still expecting the $130k+ mark that was initially predicted. Over the weekend, almost $20 billion was wiped off the market which we saw as one of or if not the most brutal market crash so far in history. I think I know for sure is that, it wasn't a coincidence, it happened in such a way that few knew about it (those close to the source of information) and they positioned themselves for it and made mad profits. That $19+ billion that was liquidated didn't vanish into tin air, it entered into fews accounts.

[justinlamode]

The ideal is to buy low, sell high. Stop loss is automatic buy high, sell low.

Under spot trading, your definition of stop loss is correct, however, for those trading in exchanges through futures trade, stop loss is very important and it helps stop the trade when the losses reaches certain level. In other words, stop loss in futures trading does not necessarily that you will buy the token or coin when the stop loss is triggered, rather it means you will be kicked out of the market at that level and you will accept the loss you have incurred. This is primarily done to protect the equity from being entirely eaten by the market.

[Inior]

From the recent dump in the market lot of people weren't prepared or even foresee the future that last night we could experience an unexpected dip in the crypto space, i asked where are those that keep speculating about Bitcoin price or cryptocurrency that calls themselves guru or cryptocurrency analyst do they know that yesterday could be that hurt on traders or investors?
It's certainly No because we can't for any day give an insight on what is about happening to the market in the next minute or in the next time frame so we must learn to always make use of our Stop Lose and Take Profits if an only the market has moved to our point of action then it would stop automatically than losing so deeply the way it reacted last night.

What do you think, where you caught up in the mindless of it?

i get your point though but if you check my thread https://bitcointalk.org/index.php?topic=5561123.msg65892893#msg65892893 i did make an analysis on bitcoin making a bearish move because price was gonna make that turn from the head and shoulder chart pattern but, what happened to the market was entirely different because that was as a result of sudden negative impact news that triggered panic and caused investors to hit the sell button. No enthusiast could look at the charts before now to make analysis that such i gonna happen. However in situations like this where its a general crash there is no need to sell at loss or even set stop loss as you have said, the only alternative is to hold for price to retrace back up, though it may take a while, because news impact on crypto are known for short term changes and then price bounces back to it normal position be it bearish or bullish. if you check the chart of several coins you'll see that price has retraced to a significant level. And lastly stop loss are used in leveraged account, meanwhile most investors just buy the crypto direct and store them in an hot wallet or exchange.

[Sammye3]

Bitcoin compared to other altcoins would definitely get back up after a sudden decline because of of its structure built over the years and hope for the future. I don't think implementing the use of stop loss is really necessary because it's a long term investment and it's only normal to experience sudden decline in price over time due to unforseen circumstances but the difference is the belief that it would definitely get back up breaking ATH and creating new highs.

Not many people saw Bitcoin's sudden decline coming but I guess the market can show little magics from time to time for certain reasons but it's part of the trading journey and we must learn to work with that.