1 month newcoiner here who made 5x gains on initial investment

1 month newcoiner here who made 5x gains on initial investment.

I just discovered the stop loss feature, now I won't have to baghold anymore. Great feauture :)

Algorithm trade bots know how to fingerfuck the shit out of stoploss users but enjoy your constantly breaking even scheme i guess

Which exchange are you using? I see Polo has it, just started thinking about switching to it from Bittrex because of this.

Bittrex also has it. Just put the order to conditional and read the info...

Thanks, I'll check it. Also I admit I'm retarded.

what is stop loss and what situations is it useful

>what is stop loss
it stops your losses

>and what situations is it useful
when you want to stop your losses

wait so that is what stop loss does? stops loss?

I'm still confused.
Will this stop the losses?

its sells your shit when it goes below an amount you set

it enables you to buy high sell low

so say, you buy a coin at $5 and u want to sell it at $10 but it never quite reaches 10 but plummets down to below $5 and u set the stop loss at $5 itll sell and you dont lose anything?

Stop loss is a good way to lose money. If you think your investment is going to go down then sell.

>oh shit a dip
>good thing my stop loss triggered
>price bounces back to what it was at

Really mitigating risk there.

It's like an automatic panic sell. It sucks. Every time I used it I ended up losing money.

iEx.ec (RLC)

some guy told me this coin will moon in an hour, how do i buy it?,

Its just a sell order with a condition ie. if the price dips down to x it'll put in a sell order for you.

Stop Loss is for suckers with weak hands only.

you don't, that's the only way to stop a loss

>set stop loss to stop losing at $0 dollars lost
>never lose any money
>auto filters all bad investments
>only wins remain

shit Chris you're a fucking genius

Two week trader here. I'm down about 40%

Thanks may 3rd all time highs for everything shitcoin.

I know. I can't believe no one ever thought of this before. So much for these so-called "risk management" graduates.