I Am stock in-between the decision to trade and when to go on a break from trading, but I will like to have my capital on a stable trade and am considering using the stop lose features on the exchange to execute trades on my behalf while being away.
So have anyone used the stop lose the feature please share your experience.
Using stop loss will depend on the market situation. If you think that the market is not good, you can use the stop loss feature at the price you want before the situation becomes not good and make you miss the right time to sell your coin.
For example, when bitcoin at $62k and there is a sign to go down but you are not sure if the price will drop, you can use stop loss at $61k-$61,750 to sell your bitcoin so when the price really down, lower and reach on that range, your order price will be fill. After that, you can try to buy back at another lower price, depending on how deep the price will go down. The Stop-loss feature can prevent the big loss that you will get if the price drops significantly.