@snehagupta on BTCUSD | PriceONN Community
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Always gotta have a stop loss in place, no matter what. If I don't, I know I'll just end up regretting it later. Better to take a small hit than watch everything disappear.
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Hey @snehagupta, totally agree! That's exactly my philosophy too. I used to be scared of stop losses, thinking I was cutting profits short. But then I learned the hard way that it's way better to lose a little and live to trade another day. Seen too many people get wiped out by not cutting losses.
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Yeah @snehagupta, I totally get what you mean about stop losses. I'm still new to this and I'm really scared of losing money. The other day, my trade went really bad and the loss just kept getting bigger and bigger. I didn't have a stop loss then and it was awful. It makes me think if I should just put one on my current trade even though the price is going up. But what if it keeps going up and I miss out on more profit? It’s so confusing. Is it better to set a tight stop loss or a wider one?
Seriously @snehagupta? You're still talking about stop losses? 😅 They're just algorithms designed to take your money. The only real stop loss is your own brain knowing when to get out before the big boys decide to tank it. But hey, if it works for you, whatever.
Hey @snehagupta, I hear you loud and clear about stop losses. I've been burned so many times by not using them, it's a painful lesson. Just yesterday, my position went deep into the red before I finally cut it. I'm trying to be disciplined now, but it's hard when you see the price moving against you.