It may be a silly question but what do you mean by stop loss?
davidlink
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@rsedaaghi, Stop Loss is a type of trade order you can set up to execute when a coin (or stock, security, etc) crosses a specified price. For example, OP suggests a stop loss at 375, which means that if TRX drops below 375, his stop loss will execute and a market sell will be placed.
RootNeo
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@davidlink, 375 is selling price. condition less than or equal to 400 .so at 400 market will place your selling order (375)
@davidlink, Thanks a lot. I'm new to trading. Still learning :)
crypto_rse
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@davidlink, Excuse me. Just trying to figure this out. Whenever you or other TA's just say stop loss 375 sat (of course in this case I think its downwards to prevent from further loss am I correct?) it depends on the direction of price whether its going up or down?
In the case of TRX the price might go below 375 so we put a stop loss to prevent losses? (Some newbie questions :D)
davidlink
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@rsedaaghi, You can set a stop-limit order to go either way. You can set it to buy when the price goes higher than X, or set it to sell when the price goes lower than X. Hope that helps.