[mberning]

Are you confident it won’t go to $5? I’m not.

[factsarelolz]

I would be very confident I could sell before it hits $5.

[throwaway290]

What if you're asleep when it falls?

[factsarelolz]

Uhhh you set a stop loss number.

If it hits x sell. So if I was given a coin currently "worth" $15,000 for $5. I could set a stop loss of $6 and always make a profit since my initial investment was $5. Asleep, awake, doesn't matter.

[amanaplanacanal]

Stop losses can fail when prices are falling quickly enough.

[factsarelolz]

Set multiple stop losses? $6, $5.99, $5.75, etc, etc. if one fails one of the others will catch it. Hell as long as it sells before $5.01 I'm profitable. Simple as.

[amanaplanacanal]

That’s not how stop losses work. If things are falling fast enough, You could have one trade at $7, and the next trade at $4. Sorry, you still lost money.