Post
Topic
Board Trading Discussion
Re: Trading without setting stop loss (Risky or Not)?
by
tbterryboy
on 10/11/2020, 15:25:42 UTC
for me stoplos is a function to help traders reduce the risk of loss, I personally always use it in every trade because I can't keep track of the development of my asset prices, I also have a busy life out there that I can't possibly leave, if you don't need it then it is a natural thing because maybe you are a person who has a lot of time monitoring price developments, so not everyone needs it but some people really need it
Actually there is a simple thing to determine whether you need a stop loss or not. If you are trading many assets at the same time and such that you lose the count of the tokens and you are unable to track which token is moving in which direction then stop-loss is not just important but necessity at that point.

While if you are just trading a few coins or single coin then you are always in touch of the current price and you don't need to use stop-loss function because sometimes although the market is down you know a chance is there to have better values in coming weeks or months so you can avoid selling at loss and wait for sometime while if you use stop-loss the asset will be automatically sold at a particular value giving you no chance to recover.