Quote from: nasipadang on February 27, 2019, 08:22:48 AM

Quote from: pawanjain on October 11, 2018, 05:21:47 PM

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 ?

Right, you also have to set what percentage of losses for cut lose, as we know market fluctuations can go down and you can also make mistakes so as to avoid greater losses, then cutlose is also necessary, no matter how small your profit target is.

Stoploss is counterproductive with trading with bitcoins, you don`t do that with bitcoins you do that with some alts that has no perspective. When you stop loss with bitcoin it`s should be like shorting, so you sell and when price drops more you buy again (now you have amount of bitcoins you want and some extra cash left ), but that can be a trap if price suddenly change direction and start to rise. If that happens than you don`t have coins, you stop your losses and sold, you have some money but price is up, that`s not a good time for buying. I hope I gave you nice explanation.