They are gambling but they think they are trading

[Oshosondy]

I saw some people posting that they do not know reason I post against stop loss, this is another one.

This is not just what I am thinking, it is about how traders are feeling. They want to use $200 to trade, thinking they can go 40x which is $8000 to trade with, thinking of stop using stop loss because of that. Later after the use of stop loss, few wrong trades exposed them to more losses of money and the money on their trading account got liquidated just because they expect $2400 from their initial trading capital of $200.

You trade with $200, but expecting profit of not more than $10 monthly is far better than expecting $2400. Those that are expecting $10 monthly from $200 has higher chance to make money in trading and not think of stop loss than people that are using $200 to trade and expecting $2400 annually which is $200 monthly or more. Most traders fall under making more than 10x from trading in a year and they will argue that stop loss is good which makes other traders greedy.

This is exactly the reason most traders are losing. The old traders which are whales know exactly how to take money from these people.

How much will you be expecting from trading in a month if you are trading with $200?

[Frankolala]

I think stop loss spoils the bigger opportunity to make profits beecause it might be that after using stop loss, the price might begin to go up again and you will miss the train. If I am trading with $200 in a month, I expect 10% profit which is $20 but that doesn't mean that if I see small profit, I wouldn't close my position because the bird at hand is worth more than millions in the forest.

[BitMaxz]

So you are against the SL? Well, I already learned from my mistakes before of not using a stop loss. We have different ways of how we trade, but your explanation above looks like you are pointing to the trap of greed with high leverage.

For me, if I have $200 in capital, I don't expect to make more than 2x in a month; having a 1% to 10% is more than enough for me, but still it depends on the market because sometimes I don't trade in a month because of unclear direction. Short-term or scalp trading puts you at risk of being manipulated by whales that stop-hunt.
I always choose a longer time frame to avoid manipulation, but there is no guarantee that you will not be targeted by manipulators. However, I experience fewer stophunts than if I scalped or day traded.

Since you know how stop-hunt works, why not avoid placing your stop-loss in that area since you know how whales hunt those areas?
Honestly, we are similar before thinking about these manipulations; it's pretty common that is why we need to filter out those mistakes. Going to a higher time frame puts more weight than in a lower time frame where most of the whales are watching.

[EarnOnVictor]

I think stop loss spoils the bigger opportunity to make profits beecause it might be that after using stop loss, the price might begin to go up again and you will miss the train. If I am trading with $200 in a month, I expect 10% profit which is $20 but that doesn't mean that if I see small profit, I wouldn't close my position because the bird at hand is worth more than millions in the forest.

I've tried whatever any trader could say about trading, and I wonder why they undermine the importance of stop loss. Well, the good part of stop loss are being silenced, while the bad part are being leveraged upon. Stop loss is not meant to protect your position only, it is meant to protect your trading account, give your strategy time to breath and enhance the beauty of your risk management.

That is a whole lot. Without stop loss, there is no proper account management, in my experience, and those who leave their trades to run forever are hardest hit, unless they maintain a very low risk, which is not bad. It will only deny them of quality profits. And this still doesn't mean that they will not lose, many of them even lose more, it's only a matter of time.

[Shishir99]

How much will you be expecting from trading in a month if you are trading with $200?

If you ask me, I would expect 10% to 20% a month if I spend enough time. I am not a trader, but I think it is possible to make $20 a month with $200. However, there is a high chance I will be liquidated because the amount is too low. Even if I set a stop loss, it won't be easy to recover the loss with this tiny amount of money. People who think they can make 20x with their money without losing it, they are fools. Is it possible to make a 20x profit? Yes, possible. But then you will have to be prepared to lose 20 times. This is the actual odds. If you try 20 times with this amount, there is a fair chance you will be able to make 20x profit at least once.

[EL MOHA]

I think stop loss spoils the bigger opportunity to make profits beecause it might be that after using stop loss, the price might begin to go up again and you will miss the train. If I am trading with $200 in a month, I expect 10% profit which is $20 but that doesn't mean that if I see small profit, I wouldn't close my position because the bird at hand is worth more than millions in the forest.

Then assume not using it, i usually don’t disagree with people looking at stop loss as not good thing to use because some people who usually use stop loss use it wrong by apply high leverages to trade simply because they see stop loss as what will stop them out when the trade goes against them and that’s where ones psychology is tested.

But stop loss is never a problem if used rightly just like what you said about your stop loss triggering and then the trade going where you have earlier predicted. This is similar to when you close it too by yourself at certain level and then it goes back to your analysis.

Stop loss and profit target levels are actually set not just by your anything but by looking at the charts and where you think there is either resistance or support and that the trader will stop at. So even if it triggers at this zone as a fake out it is not bad it will be worse if don’t set it and get liquidated while waiting for a reversal

[Ndabagi01]

I think stop loss spoils the bigger opportunity to make profits beecause it might be that after using stop loss, the price might begin to go up again and you will miss the train. If I am trading with $200 in a month, I expect 10% profit which is $20 but that doesn't mean that if I see small profit, I wouldn't close my position because the bird at hand is worth more than millions in the forest.

The importance of stop loss can never be too overemphasized. If you’re a trader and you’re not using stop loss, you’re at more risk of losing your money and getting liquidated. All of the explanations of the OP is more of your property risk management approach in the market, which should be less risky and also not being greedy overall.

If you’re a trader and you’re not using stop loss, you’re just at risk of losing everything in a twinkle of an eye. Markets that do hit stop loss before going your way doesn’t mean you’ve lost, it is simply telling you that your stop loss wasn’t placed well and you can adjust that in your next trade, it doesn’t mean failure that you’ll adjust your stop loss and then end up liquidating more than the amount you’ve set for a trade to be stopped out on.

Stop loss is very good and has a lot of importance for your longevity in the market and also to learn and adjust to market changes. The market are unpredictable, but with proper placement of stop loss and low risk, you’ll get a good chance to finish to be profitable with the right knowledge in the long run.

[Alphakilo]

I think stop loss spoils the bigger opportunity to make profits beecause it might be that after using stop loss, the price might begin to go up again and you will miss the train. If I am trading with $200 in a month, I expect 10% profit which is $20 but that doesn't mean that if I see small profit, I wouldn't close my position because the bird at hand is worth more than millions in the forest.

The importance of stop loss can never be too overemphasized. If you’re a trader and you’re not using stop loss, you’re at more risk of losing your money and getting liquidated. All of the explanations of the OP is more of your property risk management approach in the market, which should be less risky and also not being greedy overall.

If you’re a trader and you’re not using stop loss, you’re just at risk of losing everything in a twinkle of an eye. Markets that do hit stop loss before going your way doesn’t mean you’ve lost, it is simply telling you that your stop loss wasn’t placed well and you can adjust that in your next trade, it doesn’t mean failure that you’ll adjust your stop loss and then end up liquidating more than the amount you’ve set for a trade to be stopped out on.

Stop loss is very good and has a lot of importance for your longevity in the market and also to learn and adjust to market changes. The market are unpredictable, but with proper placement of stop loss and low risk, you’ll get a good chance to finish to be profitable with the right knowledge in the long run.

The better opinion for me has to do with the other traders that think using stop loss protects their position, even though this is true to some extent, how you use it matters a lot. You can't just use stop loss while trading high leverage because be sure to make losses.
However, when you use a stop loss with low leverage and with a realistic target in mind, any sudden dip won't guarantee a loss because the noise in the market is nothing to be worried about.

This boils down to traders having the right knowledge about leverage and position sizing, because it would go a long way in ensuring such a trader knows when to and how to use stop loss to avoid losing their capital.

[Jegileman]

How much will you be expecting from trading in a month if you are trading with $200?

This will really depend on the kind of my risk assessment plan in trading. A minimum of 10% of $200 isn’t bad and should be by minimal target. Anything asides that should be a surplus I get base on my risk plan but will still stick to not allowing my trades results fall below the profit I’ve made for that month. So this needs discipline so much to make it happen.

About stop loss in trading, it is already a part of me and not what I can let be. Trading without stop loss to me is the biggest risk I can ever take. The market can decide to do anything and go sideways at anytime, it is your stop loss that will reserve your account from being liquidated. This is not something of contempt, it is a compulsory thing to me.

[PostQuantumBTC]

It is good if you use low amount of money to trade with or without stop loss, what I do not like are people that have been losing in trading for months or years but they continue to trade, that is really very bad. This is not a matter of using stop loss or not using stop loss, it is better for such people to just quit trading and focus on holding good assets like bitcoin. Trading is the reason for the financial draw back that many people have in life.

[LogitechMouse]

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This is exactly the reason most traders are losing. The old traders which are whales know exactly how to take money from these people.

How much will you be expecting from trading in a month if you are trading with $200?

By any chance, are you using that strategy called "Dumb Money Concepts" on YouTube because the one that uses that strategy don't use stop-loss at all, and he has this "easy but weird" strategy that even I have a hard time understanding it.

Anyway, I guess let's just keep it this way. If OP is profitable in trading without using any stop-loss then that's good. I know that there are whales and institutional money out there that are trying to liquidate those who have loss, and that's why there's something called a liquidity grab. I believe some retail traders already found a way to bypass this thing, but there are still some who are still losing. As for stop-loss, I'm totally against not having a stop-loss back then, but as time passes by, I realize that as long as your strategy works in your favor then it's all good.

If you don't use stop-loss and it works for you, fine. If you use stop-loss and it works for you, fine. We have different experience with regards to this stop-loss, and somebody could make a podcast around it. Anyway, as for trading with $200, I don't know TBH, but I think I can make around more than 20% profit from it for around a month.