Quote from: DibiaVxosis on July 26, 2021, 10:57:40 PM

Quote from: doctor877 on April 25, 2021, 06:47:59 AM

Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a new newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.

Please share your views on how important stop Loss is and how convenient it can be to trade without stop Loss.

Talking from experience I can tell you using stop loss is as good as saving your funds, no matter the knowledge of technical analysis trading without stop loss can get you fucked up, technical analysis tells us action that has been taken already, there could be a sharp news which might push prices down after you have analysed and set up your trade and if this happens in your absence surely you gonna get liquidated.

For investors a stop loss is not critical as whatever asset they bought they did for the long term, also since they can accept bigger losses then it is unlikely a flash crash will surprise them and will not allow them to sell their coins within the range they were willing to accept to lose on that particular investment, but trading is a completely different game, trading moves incredibly fast especially if you use leverage and not having a stop loss is basically the difference between losing traders and profitable traders, so it is a huge mistake to not use a stop loss if someone is thinking of trading the markets.