Would you still use stop loss

[internetional]

The best stop-loss is organized like this. You have 1M SAT, but you are not willing to lose more than 200K SAT. Then you simply deposit 200K SAT on the exchange, and that becomes your stop-loss. The rest you will not lose under any circumstances whatsoever: even if the exchange disappears.

[Nrcewker]

Would you still be using stop loss?

I think that, irrespective of the strategy or technique you use in trading, it is essential to use a stop-loss. As we know, the market is uncertain, and we are only human at the end of the day. There is a high probability that we may make mistakes.

We have also seen how drastically the market can change for certain commodities or cryptocurrencies. In such situations, especially during worst-case scenarios, a stop-loss acts as a boon.

If you trade regularly and allocate a certain percentage of your total bankroll to a particular trade, failing to set a stop-loss can be very risky. If the market suddenly crashes, you could lose a significant part of your bankroll, or even all of it to 0. To prevent such situations, I strongly recommend using a stop-loss.

If you want to keep a trade open for a longer period, you can simply adjust the stop-loss level accordingly. However, using a stop-loss should be a mandatory part of risk management and money safety.

[Localhostspeed]

Stop loss is important, and it is also good for all crypto traders to get used to doing this so that we can avoid the large amount of funds that we can lose at any moment due to the wrong decision we will make through the analysis that we will apply.

Because I have read that some people only put TP but do not put SL in which is for me it seems risky when done like this and we can get used to it as a trader

You can't enjoy trading without stop loss, it's very essential in trading but there are some trades you don't have to use stop loss for, I mean the typical trades that has volatility, if you stop loss on such kind of trades, you will hit the stop loss multiple times and such occurrence will make you lose money continuesly, it's better you let it be that's if you are certain that the market is going to follow your direction, if you are not sure or not certain don't do it.

Another thing to consider about stop loss is use it if you are going to sleep. This might looks or sound funny but it's the reality of trading. I will choose to ignore stop loss on volatile coin if I'm going to be awake and be looking at the market all the time. If I'm going to be away and far from gambling. I will not want to be doing trading without stop loss. Some people total money made from gambling were lost because of this small mistake that could have been avoided.

[fighter2627]

Stop loss is important, and it is also good for all crypto traders to get used to doing this so that we can avoid the large amount of funds that we can lose at any moment due to the wrong decision we will make through the analysis that we will apply.

Because I have read that some people only put TP but do not put SL in which is for me it seems risky when done like this and we can get used to it as a trader

You can't enjoy trading without stop loss, it's very essential in trading but there are some trades you don't have to use stop loss for, I mean the typical trades that has volatility, if you stop loss on such kind of trades, you will hit the stop loss multiple times and such occurrence will make you lose money continuesly, it's better you let it be that's if you are certain that the market is going to follow your direction, if you are not sure or not certain don't do it.

Another thing to consider about stop loss is use it if you are going to sleep. This might looks or sound funny but it's the reality of trading. I will choose to ignore stop loss on volatile coin if I'm going to be awake and be looking at the market all the time. If I'm going to be away and far from gambling. I will not want to be doing trading without stop loss. Some people total money made from gambling were lost because of this small mistake that could have been avoided.

I get what you mean sir, maybe to others it seems difficult to do because it may be that often those who place stop losses always place their positions incorrectly, so what happens to them is always liquidated until their asset balance is depleted.

That's why maybe others don't place stop losses because they want to somehow recover their losses if the direction of the price they placed suddenly reverses, which is contrary to the position they made, right?

[nara1892]

I will never ignore stop loss when trading, this is something I cannot miss regardless of the strategy I use, stop is one of the most useful features to help minimize risk and prevent traders from bankruptcy especially when they cannot fully monitor the market until their execution is complete, for me stop loss is more than just a strategy, it minimizes risk and take profit helps minimize greed.

[Floczy]

I would like to know under this thread..

For those who actively trade (Day traders)
Between stop loss and missed entry which one messes with your emotions the most.

I feel it's stop loss, but the missed entry I encountered today made me rethink lol..

Missed entry, your bias is right which means it support your strategy
But stop loss totally disrespects you  and you start questioning your strategy which can be very exausting

But regardless one gets emotions more so I will like to know from the few traders who come across my post

[dwyane36]

I would like to know under this thread..

For those who actively trade (Day traders)
Between stop loss and missed entry which one messes with your emotions the most.

I feel it's stop loss, but the missed entry I encountered today made me rethink lol..

Missed entry, your bias is right which means it support your strategy
But stop loss totally disrespects you  and you start questioning your strategy which can be very exausting

But regardless one gets emotions more so I will like to know from the few traders who come across my post

I think I’m stating the obvious here, but in trading, it’s always important to control your emotions, strictly follow your strategy, and adhere to risk management principles.
That said, emotionally speaking, there are still times when things can get a bit rough, especially when it comes to stop-losses and entry points. For example, you might first conduct technical analysis and identify what you consider the optimal entry point. Then you open a position with a stop-loss order, but whales trigger your stop-loss with a sharp price move, and immediately afterward, the asset begins moving in the direction you originally anticipated.

[Mpamaegbu]

Would you still be using stop loss?

I know you're a strong advocate of, "Don't trade with SL." You should also know that the way you see its use as adverse to profitable trading is also the way a lot of traders see not using SL as inauspicious in their strategy. The instance you gave with the $1k trading capital and that low leverage without using SL will expectedly be leaving a trader using that strategy with drawdowns and they waiting for it to go to profit even with it running into days to achieve that. I'm not sure anyone who trades for a living will adopt that strategy. There won't be any level of consistency, and once there's no direction of consistency; adequate planning based on profit making can't be achieved.

Anyway, to each what works for them best.