The Pro's and Con's of the STOP LOSS
Yesterday was painful to say the least in the Crypto markets with huge volatility coupled with massive volume. Why, well this is what happens when the CPI results come out in the U.S.
1. the lemmings run off over the cliff screaming all the way down
2. traders see their stop losses get hit and of course the get sold
3. those who really read the markets come in and buy at a greatly discounted rate
Am I pissed off I got sold out no not really, why, because I am a trader and Stop losses are there for a reason.
Could I have done better no not in this market. But hey there will be another trade and this market will correct.
Below is my POLKADOT trade and the dreaded kangaroo tail.
Yesterday was painful to say the least in the Crypto markets with huge volatility coupled with massive volume. Why, well this is what happens when the CPI results come out in the U.S.
1. the lemmings run off over the cliff screaming all the way down
2. traders see their stop losses get hit and of course the get sold
3. those who really read the markets come in and buy at a greatly discounted rate
Am I pissed off I got sold out no not really, why, because I am a trader and Stop losses are there for a reason.
Could I have done better no not in this market. But hey there will be another trade and this market will correct.
Below is my POLKADOT trade and the dreaded kangaroo tail.