Post
Topic
Board Trading Discussion
Re: Risk management
by
EarnOnVictor
on 27/06/2023, 14:17:51 UTC
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.
It's easier said than done, thanks to Bitcoin and others for this, but don't try it with other assets, your account might be blown off before your face or suffer a dangerous loss due to news or unscheduled events.

Quote
Stop loss has its disadvantages.
I agree it could be a pain in the a** at times, but just as anything, there are pros and cons of them. And for the last time I checked, it is the reason why I could hold an account for years without losing it. It properly managed my risks.

Also, when I talk about trading, it's beyond Bitcoin as its trading is so stable and your view could be well practice for a long time until it boomerangs.