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Stop loss is a powerful tool for protecting your investments. It allows you to automatically limit your losses if the price of an asset, such as Solana ($SOL ), or any other coin, falls below a certain level.
With the Solana market hovering around the $222.13 range, stop losses can be an essential strategy to manage risk and protect your capital in such a volatile market.
How does stop loss work?
You set the stop loss with two main values:
1. Trigger price (stop price): This is the value that activates the sell order.