Quote from: lastpixelgame on February 15, 2020, 01:29:28 PM

Quote from: AMAproject on February 15, 2020, 01:24:26 PM

Quote from: Swanblack on February 15, 2020, 01:02:19 PM

Quote from: lastpixelgame on February 13, 2020, 07:04:52 PM

Setting stop lose most times in a position could be very annoying and frustrating when you come to discover that the price only went down enough to trigger your stop loss before mooning lol...

I prefer to manually control my trades and not rely on a computer to do it for me. This is also why I think longer term trading is better than day trading.

It's annoying but it's essential to set up a stop loss point. Because if you're not online and you're not checking your position, it can be done automatically. But in other hand, you can lose money also if the price skyrockets and you're not aware of that.

From your view I think you mean stop loss is only necessary in trades when you are not online,so will you still implore the use of stop loss when you're live on trade?

Kinda. It's a valuable tool for risk management while being online and offline, you can avoid significant losses with that. They are useful when a buy order is placed, guaranteeing profits when your market goals are reached. You can also set a limit purchase order to buy an asset after a certain level of resistance has been breached during the onset of an uptrend. Just my thoughts.