Using stop loss? Are you in profit?

[Abu-Naim]

I have noticed that most of you people have gone against me anytime I say stop loss is for greedy traders. Do you use stop loss and still earn money from trading since the last 6 months?


Also are you sure you are not a greedy trader?

I used stop loss in one particular trade and I still get liquidated, it makes ask a question that why am I setting stop loss if it can’t prevent me from losing my whole money? And from then, I decided to stop using stop loss and focus on trading using small leverage because high leverage in trading gives no peace of mind, in fact whenever I am trading a highly volatile coin with high leverage, I am always at alert because even my stop loss can’t prevent liquidation, so I have also decided to just trade with no stop loss even anymore for now.

[tvplus006]

I've been profitable in trading not because I know how to trade or because I'm a pro but because I only hold for few months and take profits whenever I'm ready, I've bought coin 4 times within 2 months and then, the 4th month was massive profits. No stop loss, just take profit after several months.
I could agree with you OP that stop loss are for greedy traders, I am never greedy, I just let it be and take whenever it's done.

This is an overly simplified trading scheme and only applies to the bullish cycle, when almost the entire cryptocurrency is growing in value. And what will you do when, after your purchase, the cryptocurrency is constantly decreasing in price and after 4 months only half of the previous value remains?

[Powerjumboo]

You know that I am one of the traders on this forum that have always gone against the use of stop loss, just because I noticed that it does not make sense because the reason I used it in the past was because I use high leverage to open a position.

One of the things I learn about trading is patience, the use of low leverage, not trading highly volatile coins in a way that I can open a position and still be able to sleep conveniently over night.

I have noticed that most of you people have gone against me anytime I say stop loss is for greedy traders. Do you use stop loss and still earn money from trading since the last 6 months?


Also are you sure you are not a greedy trader?

The market is very volatile right now, engaging in futures trading means that the potential for loss is high. Moreover, I don't have much experience in trading, so I don't go into futures trading because it seems too risky to me and I feel that I can lose all my money at any time, because trading based on speculation means relying on luck and trading based on luck can never bring profit. Also, I would say that it is important for a trader to use stop loss, because using stop loss reduces the potential for loss to some extent. It is wrong to say that greedy traders use stop loss, because traders who use low leverage also use stop loss.

[summonerrk]

You know that I am one of the traders on this forum that have always gone against the use of stop loss, just because I noticed that it does not make sense because the reason I used it in the past was because I use high leverage to open a position.

One of the things I learn about trading is patience, the use of low leverage, not trading highly volatile coins in a way that I can open a position and still be able to sleep conveniently over night.

I have noticed that most of you people have gone against me anytime I say stop loss is for greedy traders. Do you use stop loss and still earn money from trading since the last 6 months?


Also are you sure you are not a greedy trader?

Stop loss is one of the most important trading tools, according to many successful traders, including those who trade cryptocurrencies. As for me, I understand the importance of this trading tool, but I have never used it.
The reason is that I was one of those traders who believed that no matter how much a cryptocurrency fell in value, as long as it was purchased on a trading account, it would eventually rise in price. However, time has shown that this rule only applies to Bitcoin and Ethereum. But in general, even just Bitcoin. I don't deny the importance of a stop loss, but it's better to find funds for averaging.