https://bitcointalk.org/index.php?topic=5262688.0Hi all
is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?
Yes ofcourse. You can always stop your loss whenever you wanted to. But I believe that is a panic selling.
I agree on your other statement except this one. You can't guarantee that the price will bounce back at any point you enter even though it seems like the price was in the bottom when you look on the chart. All professional are using stop loss to limit possible risk of losing because they can't guarantee that there analysis is 100% accurate. There is a famous quote in gambling which is "only risk what you can afford to lose". This is the same principle to stop loss. It is not that you are not confident on your trading strategy but rather a wise risk management that is an essential part on trading.