#StopLossStrategies Stop Loss Strategy that Prevents You from Getting Stuck at the Top

Honestly, I was very stubborn about the stop-loss. I felt sure that the price would go back up, and in the end, I got stuck for months. From there, I learned that the stop-loss is not meant to "give up", but rather a survival strategy to avoid sinking further.

Now, I have several stop-loss strategies that I use depending on the situations. The most common one I use is the percentage-based stop-loss. For example, if I buy coin A at $1, I set a stop-loss at 10% below, so at $0.90. So if the price drops to that level, it sells automatically. This gives me a loss limit that I can accept.

Then, there is also what is called a trailing stop-loss. It’s really cool. So the stop-loss follows the price movement. For example, if I buy ETH at $2000 and I set a trailing stop-loss of 10%. If ETH rises to $2500, the stop-loss also rises to $2250. But if ETH drops back and hits $2250, it sells immediately.