.
WHERE TO PLACE THE STOP LOSS
Your SL depends on the SIZE of your position, the LEVERAGE that you are using, and the TIME FRAME that you are trading on!
1. Place your stop loss below a key support level, and give enough gap for the wicks!
2. If you use EMAs, set the SL below the lines as they work as dynamic support!
3. If you are using patterns like triangles, H&S or trendline, add the SL outside the pattern or the trendline, and *always give enough gap for the wicks!*
4. You can also set the stop loss to get triggered after a percentage (2-10%) as you wish, based on how much you can lose!
The Crypto Market is very volatile and only with practise you will figure out which approach suits you best!
Soon or later you will learn that we can only make considerable amount of money, if we increase size!
Size is the most important piece of the puzzle! The 2nd most important is leverage, greed management & discipline, and 3rd is the MUST HAVE SL
keep practising & donโt give up!
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