Post
Topic
Board Trading Discussion
Re: Risk management: How to set a Stop Loss
by
palle11
on 25/10/2022, 17:15:35 UTC
Quote
Manually: Watching the price and manually clicking when the level is reached. Good if you are an intraday trader, and don’t leave open positions overnight. It is not good when price moves violently, especially in crypto, often you will not have time to react.

I find this interesting and it looks like an advise never to leave running market over to the next trading day, this is dangerous. Every trading day has it own challenges so never expect total continuation of the previous day. So close your running trade if on profit or you put stop loss if you are losing before the night falls.

Every day is new, prepare a fresh set up and see direction of the market because if you leave a running to the next day, you will be emotionally confused to take accurate trading decision.