I have set the weekly target of 2% profit on the capital amount which is quite easy knowing that BTC swings about 2% on a daily basis and hence it would be an easy target to achieve.
I am achieving the target but as the recent dip was a big one, it took away all the profit I made. So is a stoploss worth a try so that such big dips don't take away the rest of the profit I make ? Should I consider placing a stoploss for such a small target ?
like some of us has said. We actually needs stop loses put in place in other to reduce loses in trading. Cryptocurrencies market is a volatile market and it is good we should understand that if we did not put stop lose in place our capitals might be wiped away in a single price movement. Another reason why we should used stop loses is because we cannot always be with our computer or phone and as such stop loses reduced our risky.