I actually dont use stop losses.. like ever.. Just imagine you had a stop loss set up on Gdax the other day when they had the flash crash in ETH all the way down to .11 cents.. holy crap.. you would probably have a sell executed far far below where you planned to take a loss.. Very risky.. I trade a different way.. I buy dips, on surprise drops, on stock/cryptos that have a perfect bouncing history.. Then if I believe in the coin, I leave my profits in, and take back my principle, therefor only creating free coins in my bank.. Otherwise, if I was just planning to trade for profit, then I take it all off and reset an alarm for the next possible dip.. No stop loss.. Everytrade is a win or a loss, with the odds way way in my favor.. so its almost never a loss.. less then 5% losers
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Interesting...I've always heard of recommendations for using a stop loss to manage risk in a trade, but the example you gave makes a lot of sense.
I originally learned about trading by way of price action from Nial Fuller (http://www.learntotradethemarket.com/) using tactics like pin bar reversals and inside bar breakouts, but I'm open to learning new strategies like the ones you use.
Hopefully I can become a successful swing/day trader with enough real-world practice and experience (I'm tired of paper trading lol).
Thanks Luc!
yup, Ill start making the videos and hopefully that will help. I dont have much time, since I am a full time trader, but ill get started on them asap