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…
I used to trade on Bybit and this kind of thing never happened there so I’m just trying to establish why this happened on Bitget? Is it because there are not many people trading ‘PI’ on Bitget and therefore, if I’ve have been trading one of the bigger coins like BTC or ETH, it wouldn’t have happened? Or is there an entirely different reason?
Binance is so great that, if you have a token or a coin that is not listed there, then I would suggest do not put it there, it would not make sense. It would be bad for your business because you would probably lose money by using another exchange. I understand you want to invest or trade some coins or tokens but do not do it based on just the token or coin itself.
Because if you do then you are going to lose money. Which is why always look for which exchanges it is listed on, and if it s not listed on binance then don't do it. Trade and invest into things only on Binance. This way, you can be sure that you are going to end up with safety and security. Doesn't mean you should not deal with others, but it's a risk you are taking.