Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Cryptocurrency Price Speculations => Topic started by: pawel7777 on November 13, 2024, 10:16:13 PM
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A trailing stop loss is an order that automatically adjusts to lock in profits as an asset's price moves in your favor. It sets a stop price that follows the market by a set amount, and if the price reverses by that amount, the order is triggered to sell or buy, limiting losses.
As in the subject - is setting up a trailing stop loss for Bitcoin a good idea to (somewhat) maximise your profits? You will never hit the exact top with this strategy but you are unlikely to hit it anyway. The convenience of it and not having to worry about the price all the time sounds pretty appealing to me.
If it's a good idea, what would be the most optimal trailing level (trailing offset)? 10%? 15%? More? Or maybe it would be better to define it in fiat amount rather than percentage?
Any thoughts/experiences?
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I thought I answered this.
I did a down buy ladder
57k
55k
51k
48k
42k
it did two sell ladders.
cant remember but
say
74k
77k
81k
83k
85k. all sold
and
89k
92k
95k
98k
101k
so seven of the sell numbers are done.
and three of buys are done
waiting on a crash to 48 then 42
or a runup to 101k
I pay no attention as I am set for buys and sells
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As in the subject - is setting up a trailing stop loss for Bitcoin a good idea to (somewhat) maximise your profits?
Like everything else, it's just a gamble and it depends on how lucky you are.
The market could crash 40% and stay there for a few months like it did in the past and your 10% margin would be a profit-making move or the market could crash just below your set range and then renounce by another 50% making it look like you sold at the bottom.
If anyone had a solution for this they would have one hell of a crystal globe.
It's all about what you think your objectives are and how high your expectations too.
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As in the subject - is setting up a trailing stop loss for Bitcoin a good idea to (somewhat) maximise your profits?
Like everything else, it's just a gamble and it depends on how lucky you are.
The market could crash 40% and stay there for a few months like it did in the past and your 10% margin would be a profit-making move or the market could crash just below your set range and then renounce by another 50% making it look like you sold at the bottom.
If anyone had a solution for this they would have one hell of a crystal globe.
It's all about what you think your objectives are and how high your expectations too.
Well as we now push at an unthinkable number 100k a coin.
Many will cash a lot too their coins.
Some will continue to press their luck hoping for a bigger number.
Myself as usual I sell on the way up.
My second sell ladder is down to 1 sale at 101k
If it all crashes way down soon I was brilliant if we go all the way to 200k I sold too fast.
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If it all crashes way down soon I was brilliant if we go all the way to 200k I sold too fast.
That's why I said it was a gamble, I say we cross 100k easily and we do a bit of retracing exactly after, but after that, I don't have a clue, we might get stuck for a year at over 100k or we might push for 150k in another week just before the new year, I give each one of those the same chances, the market is truly wild right now.
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It's all about what you think your objectives are and how high your expectations too.
Objective is simple - to take advantage of this cycle's bull run and maximise profits.
The purpose of the trailing loss is not to set your expectations at a certain price but rather to move along with the uptrend and see where it takes you.
The problem is, judging on the past price actions, dips of 20% on the way up could happen, and setting trailing stop loss above 20% doesn't lie well with me, so probably I'll just stick to watching indicators and do the trailing with only a small portion.
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If it all crashes way down soon I was brilliant if we go all the way to 200k I sold too fast.
That's why I said it was a gamble, I say we cross 100k easily and we do a bit of retracing exactly after, but after that, I don't have a clue, we might get stuck for a year at over 100k or we might push for 150k in another week just before the new year, I give each one of those the same chances, the market is truly wild right now.
Its been unpredictable since from the start, we might be having those kind of clues on which we could be able to see some possibilities on where it do retrace or making out some pullbacks
on which we know that Bitcoin is overbought as of this moment basing up with TA's but these words actually been said when it hit up on $90k but still it did push through almost 100k
now on which it do really tells us that there's no way that you could be able to tell on where the price will be stopping but to assume out that 100k will be a strong resistance to break
but well this one is always been a speculation.
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Corrections of more than 13% are usually deep so whenever the change is more than 10% it may be better to put a trailing offset. In general it should be part of your trading strategy. At the moment trading can be confusing because we have not determined the psychological levels yet and after $100k, trading will be based on luck.
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The problem is, judging on the past price actions, dips of 20% on the way up could happen, and setting trailing stop loss above 20% doesn't lie well with me, so probably I'll just stick to watching indicators and do the trailing with only a small portion.
And you see, you have just backed yourself into a corner when the strategy that might work doesn't fit your own targets, and no matter what you do the risk for losses or unrealized gains evaporating is the same. Pretty normal, there is no bulletproof strategy, there is no algorithm that can guarantee you anything, the same thing that can save your skin today might make you regret trading next month, in short gambling!
So, as usual, the best advice would be to hold until you actually need the money!
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And you see, you have just backed yourself into a corner when the strategy that might work doesn't fit your own targets, and no matter what you do the risk for losses or unrealized gains evaporating is the same. Pretty normal, there is no bulletproof strategy, there is no algorithm that can guarantee you anything, the same thing that can save your skin today might make you regret trading next month, in short gambling!
Just because there's no bullet-proof, 100% effective strategy doesn't mean that no matter what you do the risk of loss stays the same. Some strategies are more effective than others, holding forever is just one of them.
Nothing in this world is guaranteed, but it's all about maximising your chances.
So, as usual, the best advice would be to hold until you actually need the money!
I don't think that was ever good advice to begin with. If I happen to need money when Bitcoin is at the very bottom of a bear market, would selling it then be a better option than selling it at (or close to) the previous peak? Of course not.
Historically, those who applied the sell-the-top-buy-the-dip strategy are better off than those who just held, even if they were not quite accurate in predicting the tops/bottoms.
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Just because there's no bullet-proof, 100% effective strategy doesn't mean that no matter what you do the risk of loss stays the same.
And the rewards match the risks, as I said, it's just like gambling.
So, as usual, the best advice would be to hold until you actually need the money!
I don't think that was ever good advice to begin with. If I happen to need money when Bitcoin is at the very bottom of a bear market, would selling it then be a better option than selling it at (or close to) the previous peak? Of course not.
Historically, those who applied the sell-the-top-buy-the-dip strategy are better off than those who just held, even if they were not quite accurate in predicting the tops/bottoms.
Maybe I said it wrong, so it would be more like when you feel comfortable with the amount you have in hand, I always said not to invest more than you afford to lose in the blink of the eye so from my point of view bitcoin investment should be treated as money you will spend only when you feel like, write them off from the start and enjoy the profits when you feel like spending.
As for the thing about selling at the bottom, if you get diagnosed with an illness that will cost you a ton I doubt anyone would have sold at the top only to keep the cash on him exactly for that, if you have a life-threatening emergency you think of your life first, not tops and bottoms.
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If it all crashes way down soon I was brilliant if we go all the way to 200k I sold too fast.
That's why I said it was a gamble, I say we cross 100k easily and we do a bit of retracing exactly after, but after that, I don't have a clue, we might get stuck for a year at over 100k or we might push for 150k in another week just before the new year, I give each one of those the same chances, the market is truly wild right now.
Its been unpredictable since from the start, we might be having those kind of clues on which we could be able to see some possibilities on where it do retrace or making out some pullbacks
on which we know that Bitcoin is overbought as of this moment basing up with TA's but these words actually been said when it hit up on $90k but still it did push through almost 100k
now on which it do really tells us that there's no way that you could be able to tell on where the price will be stopping but to assume out that 100k will be a strong resistance to break
but well this one is always been a speculation.
Actually, I think that your comment is very prefer for this time. So I am also agree with your prefer comment. We also know that when you could create in this topic then maybe Bitcoin price remain under $90k. But if we follow in cryptocurrency market we can see that bitcoin price is increasing near $100k in cryptocurrency market. So I think that this trailing will be very prefer for all crypto users in cryptocurrency world.
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STOP LOSS? absolutely yes in cryptocurrency trading because when taking decision for stop loss we have opportunity get recovery our loss capital by investing at another lower. No doubt set up stop loss feature when my coins assets investing have decreasing until 20% and I will buy back with lower price get faster recovery and get back my capital loss before.
Keep hold it waiting recovery looks difficult and potential become long term holder, better take stop loss for awhile although have loss few percent and get another opportunity to buy at lower price.
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STOP LOSS? absolutely yes in cryptocurrency trading because when taking decision for stop loss we have opportunity get recovery our loss capital by investing at another lower. No doubt set up stop loss feature when my coins assets investing have decreasing until 20% and I will buy back with lower price get faster recovery and get back my capital loss before.
Keep hold it waiting recovery looks difficult and potential become long term holder, better take stop loss for awhile although have loss few percent and get another opportunity to buy at lower price.
Stop loss would really be that relevant or something which is really that important because at the moment that you do make use or deal up with futures trading but if you are really that doing with spot then you will be definitely not consider on making use of stop loses because there's no way that you will be that liquidated because on the moment that you will be having that negative on which you just that simply having that waiting up for recovery. This is why its important that you do really know at least on what are the things that you've been dealing into because if you are really that not having that awareness then you will be ending up on a disaster.
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A trailing stop loss is an order that automatically adjusts to lock in profits as an asset's price moves in your favor. It sets a stop price that follows the market by a set amount, and if the price reverses by that amount, the order is triggered to sell or buy, limiting losses.
As in the subject - is setting up a trailing stop loss for Bitcoin a good idea to (somewhat) maximise your profits? You will never hit the exact top with this strategy but you are unlikely to hit it anyway. The convenience of it and not having to worry about the price all the time sounds pretty appealing to me.
If it's a good idea, what would be the most optimal trailing level (trailing offset)? 10%? 15%? More? Or maybe it would be better to define it in fiat amount rather than percentage?
Any thoughts/experiences?
An interesting topic, as trailing stop loss is also an issue that I have analyzed and wanted to apply but was unsuccessful. Perhaps it is not suitable for my style. If investors have the habit of using trailing stop loss and are satisfied with the profit, they can continue to use it, a margin of 10% or even 38.2% can also be accepted.
Personally, I will only sell crypto assets when the price chart falls out of the uptrend, and sometimes that is when the price has dropped 50% from the recent peak. However, it also helps me to limit unnecessary transactions when participating in the market during bullrun.
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It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.
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It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.
Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.
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It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.
Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.
If you are only trading for 2R, I don't think you really need it. It's easy to reach when the market goes as your plan. Sometimes the market is fluctuating and very volatile, swept some liquidity to send the price higher. If you put a trailing stop with the 2R, it's not worth it because you are just wasting your time analyzing the chart, and then the gas fee is so high. So if ever the price hit your trailing stop, your profit is just enough to cover your gas fee.
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It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.
Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.
If you are only trading for 2R, I don't think you really need it. It's easy to reach when the market goes as your plan. Sometimes the market is fluctuating and very volatile, swept some liquidity to send the price higher. If you put a trailing stop with the 2R, it's not worth it because you are just wasting your time analyzing the chart, and then the gas fee is so high. So if ever the price hit your trailing stop, your profit is just enough to cover your gas fee.
If you are that trying to extract potential profits as much as you could then this is where trailing will be that significant but there will really be those indicators on which you could really be able to make use whenever theres that volume exhaustion but of course its not 100% guaranteed but of course this isnt something that a bad thing that you can make use and this is why its really that matters that you do really make use of these indicators on which this will be that helpful but dont make yourself that being positive because you dont really know on how the market behaves on which no indicator will be giving out that assurance.
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It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.
Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.
If you are only trading for 2R, I don't think you really need it. It's easy to reach when the market goes as your plan. Sometimes the market is fluctuating and very volatile, swept some liquidity to send the price higher. If you put a trailing stop with the 2R, it's not worth it because you are just wasting your time analyzing the chart, and then the gas fee is so high. So if ever the price hit your trailing stop, your profit is just enough to cover your gas fee.
If you are that trying to extract potential profits as much as you could then this is where trailing will be that significant but there will really be those indicators on which you could really be able to make use whenever theres that volume exhaustion but of course its not 100% guaranteed but of course this isnt something that a bad thing that you can make use and this is why its really that matters that you do really make use of these indicators on which this will be that helpful but dont make yourself that being positive because you dont really know on how the market behaves on which no indicator will be giving out that assurance.
Just like what I have said, it's not recommendable to use trailing stops with a 2R because the taking profit area is too tight. The price might hit your trailing stops and with one another candlestick it will hit your tp. But if I'm going to use trailing stops in the future, I will make sure that my reward when it hit the tp is 5r above.
Aside from that, I don't think indicators really effective because they are only telling you what happened in the past. But the only indicators I usually use is the volume and the RSI. So if you're going to use it make sure you have backtested it.
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Just like what I have said, it's not recommendable to use trailing stops with a 2R because the taking profit area is too tight. The price might hit your trailing stops and with one another candlestick it will hit your tp. But if I'm going to use trailing stops in the future, I will make sure that my reward when it hit the tp is 5r above.
Aside from that, I don't think indicators really effective because they are only telling you what happened in the past. But the only indicators I usually use is the volume and the RSI. So if you're going to use it make sure you have backtested it.
A good effort and technique and I will try to apply it too, sir, so that my trading can be more optimal in the future.
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Just like what I have said, it's not recommendable to use trailing stops with a 2R because the taking profit area is too tight. The price might hit your trailing stops and with one another candlestick it will hit your tp. But if I'm going to use trailing stops in the future, I will make sure that my reward when it hit the tp is 5r above.
Aside from that, I don't think indicators really effective because they are only telling you what happened in the past. But the only indicators I usually use is the volume and the RSI. So if you're going to use it make sure you have backtested it.
A good effort and technique and I will try to apply it too, sir, so that my trading can be more optimal in the future.
We have different strategy. My only advice to you if you are going to apply it to your strategy is to backtest it. If you do, you will know if all the things that I've said works for you. Don't use it directly with a live account because it will be difficult for you since it needs adjustment. Sometimes, because of an excitement you can't wait to use it immediately with a real funds but trust me, it's worth it if you backtest it first.
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I have been watching this trading tool for a while, and it serves very well to safe keep profits made, though, not reaching the ATH at the very point the price is reached. Trailing stop has a very good role to play in this bullish market trend, with a close look using trailing stop, when the market is experiencing price correction, it triggers the cut out so as to safe keep the profit made so far. And as a good market analyst, it will help give a good entry point to buy during the correction.
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I did set it up eventually and regretted it. It got triggered during the recent, unexpected dip. Maybe I could've set a higher trailing offset, but too late for that now.
I did re-enter by buying back at a higher price, but sometimes it's better to accept a small loss than miss out on a bigger opportunity.
Live and learn.