What is Stop Loss (SL) and should you use it?

Okay. I have seen enough posts floating around claiming that you should not set SL on your trade.

While I do understand the points raised in the posts. Hell I even had some trades close because my SL triggered and right after it triggered, the price of the coin did reach my TP but it was of no profit for me.

Keeping the above in mind, I've had my portfolio liquidated just because I didn't set a SL.

We all have seen a sudden rise or fall iln price due to many reasons (including market manipulations). This is where SL comes handy and saves your behind from liquidation.

Please remember that you can potentially start a future trade even from $1 but you can do nothing if you are liquidated.

Do Your Own RResearch always and follow signals of experienced traders who always give you the SL price. If you look at my profile, I always suggest a reasonable SL price incuding the reason behind the signal.

Remember to always use SL and TP as well and if worst comes to worst, live to fight back another day