Quote from: Lhaine on Today at 04:01:09 PM

Quote from: UniversityCoin on October 17, 2020, 09:17:08 PM

Quote from: yslyv on October 16, 2020, 05:46:29 PM

Stop loss is definetely a must for every trader. loosing 5% much better than loosing 95% for sure. You can use it in the beginning of a trade. Also if you can move the stop loss to profit zone when you are in profit. So no matter what happens you will be in safe side.

Most often, it may happen that you will trigger a stop loss, you will fix your deal and then the price will go up a lot. You will be left with a loss. In the crypto market, it makes sense to set stop losses for a price drop of much more than 5%.

That's depend on the traders if they thinkmorethan 5% is too much for them to lose then its better to set it that way. It will lessen the lost if you make only set it in 5% but keep in mind that its easy to hit.

Most of the coins that I trade quite often have price changes of 5%, and if I put my stop losses on such price changes, I would trade at a loss to myself. Of course, every trader has their own strategies for various exchanges and trading pairs, so I will not say that my strategy is the best.