the importance of using the stop-loss

Beware of whom you copy in Copy Trading. I want to share an experience. I was copying a leader for a month, everything was fine during that time; he managed a low leverage, trading with small percentages of capital, making several simultaneous positions and he regularly made me profit. But suddenly he opened a long position in LA (a currency that only goes down in free fall and never recovers), I started to see unrealized PnL of -20%, -40%, -60%. At that point, I thought I could trust that sooner or later it would turn in my favor while the other positions regularly yielded profits. But that position stayed open for a week, two weeks, and I don’t know how many days, and suddenly it was at a 94% loss. And if that wasn’t enough, in the blink of an eye, that -94% turned into -75% (he had a margin call). Immediately after, that -75% turned into -80% in seconds until I decided to close that position, losing 80% of what I had made in the month. Unsatisfied with those losses, he opened another long position with the same currency and within minutes it was already at a 40% loss. Luckily, in my capital, the loss was very small, and I closed the position. I looked at his open positions, and he still has that position from 3 weeks ago with almost a 200% loss. That’s when in a case like this you think, is he an idiot and has he won the others by luck, or are there bots to make me lose money? Always activate the hedging mode for any emergency like that; whenever you see that a position starts a pronounced contrary movement, open an opposite position to stop the losses, and then close the one that makes sense to close. And one more thing, never trade with this currency, it’s a trap to lose absolutely everything; it’s a cancer that eats away at your entire capital. It was launched, shot up, and then plummeted, typical of scam currencies as happened in Argentina and in the Mktcoin scam of Paydiamond. 😄