Stop loss order not recommended

[piramida]

stoplosses are just that. you avoid many small losses until you come across one big huge loss. if you dont trade on margin, you can hold unrealized losses indefinitely of course. but if you are using any kind of margin, stoploss is an absolute must. you lose 10% instead of 100% if you guessed the direction wrong.

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[silversmith]

Why would you want to sell when the price is going down? Isn't that the best time to buy it?

[ShakyhandsBTCer]

The market is generally not liquid enough for stop loss orders to be effective.

Additionally the price of bitcoin is so volatile that if the "stop" is triggered the price may fall significantly before your order is filled only to rebound within a few hours.