Stop Loss Feature-How often do you use it when trading?

[Bookwormlux]

I have been trading once in a while since I started earninng online, but all this while I have been using trial and error method to trade out of ignorance and this made me to lose a lot of money. Though this helped to shape me as I learnt a lot of lesson.

One thing I learnt about that I wished I was informed about it was the stop loss feature which I know to be available on binance.
This initiative is put in place to help crypto currency traders decide when they want to exit the market and avoid losing much of their invested capital.

How it works
Let's say you bought Bitcoin when it was $50,000 and would like to sell at $55,000. Using the stop loss future, you can indicate in your order book for your BTC to sell once the price gets to $55,000 but in a situation where the price does not go up but begins to drop you end up losing. So the stop loss future allows you to put a price that you want your BTC to sell in the case where it does not increase to $55,000 as you were expecting. You can put your stop loss at $49,700(it must be less than your invested capital). This way you only lose $300 when prices begin to drop instead of losing a higher amount of money.

How often do you use this feature when trading?

 

[Wisdom01]

I usually make use of it when trading becsuse infact its one of the best method you could use to reduce the amount of loss you might likely make while trading ,so putting stop loss in your trades actually helps ,i have used it severally and most especially when the price of bitcoin fell towards $30000, i was able to se some stop loss to cut down the amount of loss i might likely make from the fall in the price of bitcoin

 

[btaliat]

I don't trade in cryptocurrency because I don't really know how to trade there. I am just looking forward to being tutored in crypto trading. So I don't even use the feature that much. But I do use the stable coins feature. I always try to convert my coins to stable coins so that it won't affect me much when there is bearish moment. But unfortunately, I was caught in the web by this latest bearish.

 

[Lens1000]

The stop loss is a risk management feature that allows the cryptocurrency investors to minimize losses.The stop-loss restore confidence to the investors trading on digital currency.
Cryptocurrency is a volatile assets that can ruin one's investment in the blink of an eye because it is difficult to predict its outcome.
Stop-loss is a feature majorly for the newbies who do not know or have a prior knowledge about the virtual currency

 

[Bookwormlux]

The stop loss is a risk management feature that allows the cryptocurrency investors to minimize losses.The stop-loss restore confidence to the investors trading on digital currency.
Cryptocurrency is a volatile assets that can ruin one's investment in the blink of an eye because it is difficult to predict its outcome.
Stop-loss is a feature majorly for the newbies who do not know or have a prior knowledge about the virtual currency

It is not only for the newbies, but even those who are experts in the crypto space always use it to minimize risk of losing my of their invested capital. Every trader ought to have an invalidation point with which you would exit the market. Without this invalidation point, you won't be able to set a stop loss price.

 

[Lens1000]

It is not only for the newbies, but even those who are experts in the crypto space always use it to minimize risk of losing my of their invested capital. Every trader ought to have an invalidation point with which you would exit the market. Without this invalidation point, you won't be able to set a stop loss price.

I also use it to minimize losses because their is no expert in cryptocurrency ecosystem. Expert too find it difficult to predict because the virtual currency is now affected by so many factors. There games going around cryptocurrency behind the curtains. The stop loss feature is really a welcome idea to restore confidence in cryptocurrency trading.
Anyone that suffer heavy loss Is gready

 

[Nite]

My suggestion to you would be to use the stop loss feature consistently in your trading strategy. It can help minimise your losses and protect your investments, especially in unpredictable market conditions. It's also a good practice to always have a stop loss in place before entering a trade to mitigate risk. I'm happy to hear that you are continuously learning and improving your trading skills. Keep up the good work and don't be afraid to use helpful tools like the stop loss feature in your trading. Wishing you all the best in your future trades!

 

[ImamShaheb]

Almost every time, when I'm trading derivatives on Bitget!

 

[ImamShaheb]

My suggestion to you would be to use the stop loss feature consistently in your trading strategy. It can help minimise your losses and protect your investments, especially in unpredictable market conditions. It's also a good practice to always have a stop loss in place before entering a trade to mitigate risk. I'm happy to hear that you are continuously learning and improving your trading skills. Keep up the good work and don't be afraid to use helpful tools like the stop loss feature in your trading. Wishing you all the best in your future trades!

Yup, calculated risk/risk management should be the key. If you're letting your emotions to affect your trading setup then ..meh!

It's quite hard to practice,but once you've learned then 🔥.

Trading on Bitget derivatives with 80%+ accuracy 🙊

 

[Nite]

Absolutely, calculated risk and risk management in trading is important. Emotions can often cloud our judgment and lead to impulsive decisions that may not be in our best interest. Utilising the stop loss feature consistently can help mitigate these emotional reactions and protect our investments. It's true that practicing disciplined trading habits can be challenging, but the rewards are well worth it in the long run. Developing a solid trading strategy and sticking to it is key to success in the volatile world of trading.