Quote from: jootn2kx on May 08, 2022, 04:39:48 PM

Stop loss is a great tool in skillful hands, so to speak, and a real penance for those who don't know where and when to place it. I agree that it's very much like a knife or even like water - it keeps you alive but at the same time, you can drown in it. Everything is relevant, you know. There are tons of strategies to avoid stop loss hunting - some of them really work.
One can trade without a stop loss but it's possible only when day trading and being constantly glued to the screen. In that case, one may use the so-called "mental stop loss." Otherwise, you'll get stuck hoping that the market would "bounce back any minute now" while usually it just keeps sinking lower - been there, done that.

I always use stop-loss in futures, it is kinda hard if you are in futures and then you forgot to set a stop-loss. It will be very helpful in trading as well. If you don't have enough time to track the market and you only have free time trading that's the best thing to do if you are a day trader but if not I think it is fine without it, just hodl the coin until it pumps but make sure it is worth to wait.