SPONTANEOUS GROWTH OF CRYPTOS!!!!!
Stop Loss is a powerful tool to protect your capital and minimize risks in the cryptocurrency market. As a beginner, I would like to ask your opinion, what would be a recommended use for a beginner to start using Stop Loss.
Example: I bought XRP at a low on Tuesday afternoon, and now it has grown +8%. In my previous post, they told me not to sell everything, but a part. But because I am in a rush, it is difficult to go straight here. I saw that there is a Stop Loss option, which automatically buys and sells, allowing me to select the quantity. But what would be a good margin to sell or stop?
Example:
If I have XRP at R$13.93 and I want to protect my profits if the price drops, do I have to do it this way?
Stop Price: R$13.50 (price at which the order will be triggered).
Limit Price: R$13.30 (minimum acceptable sale price).
Quantity: 2.0 XRP.
This means that if XRP drops to $13.50, an order will be created to sell 2 XRP at $13.30, correct? Would this be the strategy for a beginner to win without risking too much and losing capital? $XRP