Quote from: irhact on June 26, 2023, 06:45:39 PM

If you're an active trader and does trade while actively looking at the monitor of your laptop then you don't need stop loss. You're active so you can exit the market if you don't feel comfortable with the price movement. Stop loss has its disadvantages. It not all positive because cryptocurency whales manipulate the market by causing a false buy signal or sell signal on the market. If your stop loss is at the price that whales false sell just to trigger the market to start dumping, you'll get affected meanwhile the price isn't dumping but increasing.

For any trader that's not active then making use of stop loss is very important, it doesn't matter if you're trading a less volatile market like Bitcoin, you still need the stop loses to prevent yourself from suffering huge losses. Bitcoin also has moment when the price falls very fast.

Even those people need it because most of those people do short term stuff, so short term that they might be looking at another coin while the coin they bought could drop. I mean like literally 150x leverage people, I have seen a few of them with like multiple screens and they were dealing with a lot of big risk moves as well so they do need a lot of care with their stop loss and trades.

If they don't use it, they may end up losing all their money even on a single toilet break, we are talking about that much risk. Obviously that also means that they may end up making that much profit as well, and it should be very important as well. This isn't really a situation to overcome it just means you need to be a lot more careful.