Quote from: Issa56 on November 02, 2022, 11:49:37 AM

I think the use of stop lose is optional, the only people I always recommend to use stop lose frequently are the newbies that are just starting to trade, I believe that will help them cut their lose incase trade goes against them. I can't really remember the last time I used stop loss in a trade, I just make sure I don my analysis well then I enter a trade. Mostly whenever I enter a trade and I use stop loss, immediately my stop loss have been hit, then the coin will bounce back that's why I don't really use it again, I always make sure I monitor my trade myself and I always know when to leave a trade. But I know some people that can't trade without stop loss and I don't think it's a bad idea, we all have different pattern of trading and I always advice people to have their own pattern and don't copy what others are doing, learn to do what works for you.

Yeah, it can be optional and you can use it if you are not always there to monitor your trades. Newbies are prone to losses so using stop loss can be good for them but many newbies didn't know this either and other tools in trading but they mostly trade manually. The one that frequently use a stop loss are experienced trader. Doing analysis before a trade is more mandatory than doing a stop loss so don't worry if you didn't use a stop lose the moment you trade.

If your stop loss are easily hit then maybe you set it at a not so low price. You can try adjusting it. Just practice of using it more and I am sure that you will master it in the long run if ever you want to use it again.