What is stop loss and how it works
What is stop loss and how it works
I have been in trading for some time now and as I become more experienced in trading; I discover some terms in trading that have captured my interest, as these terms help me gain knowledge to maximize profits and minimize loss.
One among them is the (stop loss feature) some exchanges have developed this feature to help traders set limits on their trading to help put a hold on trading once a certain price is reached, but again most traders still run into losses because they inability to use this tool effectively.
That brings me down to my question, what is the best way to apply the stop loss features that will guarantee zero loss, and which exchange has the best and easy-to-use live trading features.
Guaranteed zero loss? It isnt possible and stop loss itself is just talking about cutting your loss when price tends to go lower on where you had set it out.So that already counts as loss.
When it comes to exchange platform then i do mainly suggest Binance or Kucoin.When it comes to indicators and tools then they do really have option for you to neither use beginner or advanced.
Dont force yourself on avoiding loss because theres no such thing about perfect trades.There are lots of tutorials in Youtube about on how to make use of stoplosses and its really helpful.
This is just only good when you are just day trading.