Post
Topic
Board Trading Discussion
Re: I mistakenly left a position opened until I woke up
by
eristica.com
on 23/09/2024, 15:08:22 UTC
I am not a regular trader, and such a thing never happened to me. You should always use stop loss and take profit when you open your position, no matter if you sleep or go for a ride. I have seen stories on social media where people say they opened a position and are at an unrealized loss, asking for suggestions on whether to wait or close the position.

Why do they even open a position if they don't know their limit? It is always important to stop loss and make a profit so you don't have to think about your open position. I am not talking about your case, OP, but in general.

Stop Loss does not always work. I would say that in critical situations this is a useless function, since the same Binance throws huge volumes every second and Stop Loss simply does not have time to work. You just watch as you lose your position.