CryptoAngels
Education

Be careful with the stop loss

BINANCE:IOTABTC   MIOTA / Bitcoin
Hi guys!
Today we have one more article that will help to improve your trading skills.
Let's analyze IOTA chart.
At the point A, price bounced off and began sideways trend to accumulate force. Coming out of this channel can take a long time. Most people which bought after the bounce will set stop losses at the level of point A. And some of them will set stop losses at the level of point B and that will be a worse solution.
The price is approaching the support fast and breaks it at point C. All stop losses, at level B and at level A, have worked. Price makes strong wave after this.
We can see such a situation on graphs where price is moving sideways. That's why I often use mental stop loss, i.e. I identify level with which reaching I can close my positions by market order. In such a situation, stop loss can't work mistakenly. However, you have to spend more time monitoring graphs.
Of course, I can't recommend you to use such stop losses all the time. But if you need more reliable protection level, you can use a mental stop loss.
I am waiting for your likes, followings, and questions!
https://t.me/cryptoangels - бесплатные торговые рекомендации
https://coinbot.club - аренда облачных ботов
https://t.me/cryptobastard - оформить подписку
I am sorry, but I didn't quite understand what you meant. Could you please explain more?
Reply
@mi_khan, You can read our other articles to improve your trading skills.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out