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+--- Thread: Adding stop loss to protect my gain. [suggestion needed] (/showthread.php?tid=6167137)
Adding stop loss to protect my gain. [suggestion needed] - stacking - Aug 7, 2021
Hello Guys,
I need some valuable suggestions from you.
Adding stop Loss and buying posting is a good way to protect our current wealth?
Example
Suppose Bitcoin price is 45k and I will add Stop Loss at 40k and Buying Position at 40100.
So in this case if bitcoin will go 35k or 25k. i will never loose money. It automatically sell on 40k and buy it on 40.1 so I will get almost no loss. And I will increase stop loss time to time depends on BTC price.
I just don't want to loss my gain with 40-50%
RE: Adding stop loss to protect my gain. [suggestion needed] - Sovereign - Aug 7, 2021
Your stop loss should be based on market structure.
With such tight stop losses you will get stopped out of the trade really often in such volatile market.
RE: Adding stop loss to protect my gain. [suggestion needed] - T0Bi - Aug 8, 2021
Just hold and don't bother with trading.
What does it matter to you if it's lower than 40k for a few months?
And your setup doesn't really make sense. If you want to actively trade, you don't pick arbitrary numbers for your stop loss. They're either based on your risk model or on support and resistance.
RE: Adding stop loss to protect my gain. [suggestion needed] - OliverSc - Aug 8, 2021
Hey I've got the best strategy for ya.
Buy and HODL.
RE: Adding stop loss to protect my gain. [suggestion needed] - Omniscient - Aug 8, 2021
(Aug 8, 2021 10:27 AM)OliverSc Wrote: Hey I've got the best strategy for ya.
Buy and HODL.
You forgot the STFU part...
Buy Bitcoin, Hold, and STFU
RE: Adding stop loss to protect my gain. [suggestion needed] - noname12345 - Aug 8, 2021
what happens if it consolidates between 41000 and 39000 are you just going to keep buying high and selling low?
cant guess that market. no one can. thats why most just buy, hold, and STFU.