Re: Lost considerably more than my stop loss was set at – Bitget
I always set my stop losses at around $50 but recently, for 2 trades on Bitget, I lost considerably more that my stop loss was set at. Both trades were in ‘USDT-M Futures’ and both were the PI-USDT pair. In one trade I lost $150 and the other I lost $87…
It depends on buy orders on that exchange and if there was not enough buy orders, your sell order (with stoploss order) will be executed at lower prices. Sometimes when the market is crashing, there is potentially Cascade effects from market liquidations that can cause bigger loss than you expect to have with your stop loss order.To prevent failure of a stop loss order as well as reduce impact from any Cascade effect, there is a better order for your practice in future - a Stop limit order.
https://academy.binance.com/lt/articles/what-is-a-stop-limit-order
https://www.investopedia.com/articles/active-trading/091813/which-order-use-stoploss-or-stoplimit-orders.asp
Yes but, if I have understood correctly, the price can crash through a stop limit order without it triggering can in not? My understanding is the price would then have to go back up to the stop limit price to trigger it... so if I am away from my laptop and the price just keeps going down I'd be screwed! At least a stop loss order triggers as soon as it can - even if it did cost me a lot on these 2 occasions
