#StopLossStrategies 🚦
A stop-loss is one of the important tools that help traders protect their funds from market fluctuations. The idea behind this strategy is simple: you predefine a specific point at which the asset will be sold automatically to minimize losses. For example, if you bought BTC at a price of $65,000, you can set a stop-loss order at $62,000 to protect yourself from a significant drop. However, some make the mistake of placing the stop-loss too close to the purchase price, leading to a quick exit from the market even if the decline is temporary. The key is to balance protection with flexibility. What is your preferred method for using a stop-loss?
