Quote from: rocketbits on February 27, 2018, 07:31:36 AM

I so much agree with you on this. I have made that mistake sometimes back and I ended up learning from it anyway which has really made things to work out pretty well for me over time and make good decisions. Normally, every trader should always know what to even look out for in a trade, either they are following trend, using indicators to see what is going on with some TA and FAs to make their decisions. It was obvious for any trader to see that bitcoin was tapping down and everything showed a bear market, but of course, some are just in the game without knowledge or strategy which is what makes the difference.

You're welcome, bro!

Quote from: Bitcotalk on February 27, 2018, 12:34:29 PM

Only if they could end up knowing that it pays to either do short or long positions in the market than spending the whole hour in front of a chart trying to day trade.

I agree with you that day trading is 100% gambling but it is worth the risk anyway and they have a place in the market, I have been there but even though all you use is RSI or stoch to buy into an oversold market, sometimes, you may just end up missing the other indicators to know when a market is turning long term bearish, which obviously brings the stop loss into play anyway.

No trader can do without it, and the essence is to buy back in a better position for a better gain than waiting for the market to recover in one position while missing good opportunities.

Stop-losses shouldn't be made into a fetish of sorts. Thoughtlessly placing them just because so was written in a book on trading is not very far from equally thoughtlessly not placing them. As I have explained before, exchanges see these orders and use artificial flash crashes to trigger them. To put it differently, you should be as savvy about placing your stop-loss orders as about not placing them at all. If you stick to TA, they are a must-have normally, but if you follow fundamentals, they are pretty much meaningless. If fundamentals change, you just exit your position immediately and get done with that, so no stop-loss is hurt in the process.