Why is "Stop Loss" important in crypto trading?

[Fidelia]

Stop Loss is a pre determined point that your assets is automatically sold off of the market turns against you suddenly. It is very important in crypto trading as it would help to protect your capital and ensure you remain disciplined in your trading without impulse.

Have you ever used "Stop Loss" in crypto trading?

 

[Suba]

Stop-loss is very important in both investment or trading, be it stocks or crypto, especially to prevent greater losses, especially if there is a downtrend.

 

[Stardom22]

Stop loss is a great trading tool and most traders use that to prevent them from incurring more losses if at all bearish market is suddenly experienced on a particular trade.

 

[Suba]

Stop loss is something that must be updated manually and there are also those that automatically follow price movements. Stop loss will be very important for traders because it can sell assets automatically, so traders are not affected by emotions.

 

[eLdavis]

Stop loss is important in trading to prevent you from loosing too much in trading. I have never used it before though.

 

[riberet19]

It is a good tool to prevent larger losses than you can face as a trader, it is a basic tool that any trader should always use.