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?
Many things can cause this to happen but the most notable thing that can cause this is slippage due to high volatile. In other words, there may have been a very strong news release that injected so much volatility into the market thereby making it to gap your stop loss and close your trade at a bigger loss than you planned from the beginning.
Technical glitch can also cause this but it is on rare occasions you see such glitches which is why the most profound cause of such is slippage.