🛑💸 That $5,400 I lost taught me one brutal truth: a stop loss isn't optional. Here's how to actually set one. Forget percentages; your stop needs to be at a logical market invalidation point. If you go long BTC at $70,500, look for the immediate swing low, say $69,800. Your stop belongs just *below* $69,800. That's where your trade idea is proven wrong.
Now, Stop-Market vs. Stop-Limit. A Stop-Market guarantees an exit once triggered, selling at the best available price. A Stop-Limit places a limit order once triggered, which might not fill if price moves too fast – leaving you stuck. For beginners, always use Stop-Market for guaranteed protection. The one reason stops get skipped? Extreme volatility. Price can gap right past your stop, filling you much worse, or worse, leading to...
Now, Stop-Market vs. Stop-Limit. A Stop-Market guarantees an exit once triggered, selling at the best available price. A Stop-Limit places a limit order once triggered, which might not fill if price moves too fast – leaving you stuck. For beginners, always use Stop-Market for guaranteed protection. The one reason stops get skipped? Extreme volatility. Price can gap right past your stop, filling you much worse, or worse, leading to...