I haven't ever really traded using stop losses, I don't do it for lots of reasons but all it took to get me to realize the importance was the understanding that there's no real way to know how much farther down something so new will go. So in essence, I'll be 'safe' once we see some green and I can set comfortable stop losses on what I haven't yet. Trade using stop losses to retain your BTC or whatever you prefer to retain your value in. But most of all, learn from my mistake... I hope you have a wonderful evening Steemers!
Peace, Love and Light.
Mark
Beautiful, i like your photos, follow and up vote me.
Thank you :)
We always use stoplosses while trading the Forex and Stock market. But because of the volatility in the Cryptocurrency markets we tend to use it a bit less.
But it sure is a beautifull way too prevent account blowing losses ;)
Have a beautiful night!
Yeah it can certainly apply in crypto, even with volatility, just different strategies that need to be implemented. Thank you @palmtreetrading! I wish you the same :)