Quote from: JohnBitCo on June 23, 2019, 04:29:49 PM

Quote from: Pattart on April 17, 2019, 02:53:22 PM

Quote from: Malsetid on April 10, 2019, 01:27:42 PM

Quote from: Davidovic on April 08, 2019, 05:10:00 PM

I always use Stop Loss function when I create an order. Once I lost a lot of money and time and I don't want to have such sad experience anymore. I started to use cryptocurrency trading platforms like Fumgo. I set the target there, turn Take Profit and Stop Loss functions on and the system makes everything itself. Recommend to try fumgo.com

I usually set it to just 5 to 8 percent. Don't want too big of a deficit. Though these are mostly for alts that i trade with in a more active basis like trx and xvg. I don't put stop loss anymore in long term coins like bitcoin and ethereum since i could live with their value dropping 😁

I don't like it that way, because market conditions are flexible and sometimes change, using stop lose can be your carelessness, when you sell automatically because of stop loss, then the price goes up. I won't do that when I still have a lot of time monitoring the market

Stoploss do have pro and cons. To avoid the situation mentioned by you, I normally place stop loss before I go to sleep so if the bitcoin dumps, my stoploss hits and i avoid the big loss. In day time i watch the market regularly and there is no point setting the stop loss when we are actively monitoring the market.

Sometimes, movement of these coins can be so fast that if we take our eyes off the trading platform within 1 minute, that one minute you see could mar our trade, and you cant tell me that a trader will just focus on the PC without standing up at all, at some points, we will stand up to take a break, use the gent and may go take a sit of cold drink from the fridge, the time you decide to do that maybe when the market start falling drastically, and only stop loss could save you against terrible damage. I feel sometime that It is only people who have the intention of being greedy that usually avoid using stop loss/take profit.