Quote from: bearexin on August 14, 2020, 07:26:48 PM

Quote from: Cryptoababe on August 11, 2020, 11:43:42 PM

The only time I set stop loss is when the btc price exceed my order price. So i wont be scared or the price going back and also there won't be chance for lose anymore.
I found that this idea has been working well for me so far . And its a good way to trade for me as I've seen so far.

It’s important that you make use of stop loss, this is in case if the price of the market should go against you. Although you said that you have been making steady profit, that’s good. Still have it in mind that some days won’t be as good as the others when you were cashing out easily, so it’s good that you’re prepared for those as days and make use of stop-loss to beat them. From what I have seen, based on the explanation you have made here, it seems you’re really good at technical analysis, so that can help to push you further in this, you already know what you are doing.

Quote from: maxreish on August 13, 2020, 04:27:50 AM

Since you are using such low leverage, 2-5% leverage is safe but it liquidation can not be prevented when whales sudden attack and the reversal action taken place.

You can never know when they attack. He’s trading and it’s working for him because he’s one of the lucky few that haven’t been caught in those moments. That’s why it’s very important that he makes use of stop loss, because we can’t really predict when it happens.

My trading mentor always remind me that I'm always wrong until the market proves that I'm right. It only means that there are always down side in every kind of strategies out there. I do recommend stop loss and actually a beginner should master it before deposit huge amount of money in their account. Mastering the stop loss can help you to have edge in this kind of market, you can prevent what they called capital wipeout through stop loss.